Lasers are an often-overlooked technology with a broad array of applications in medicine, industrial settings, electronics, and more. The global market for laser technology is small but growing rapidly; valued at about $24 billion in 2024, it is expected to climb at a compound annual growth rate of 8% over a five-year period to reach close to $30 billion by 2029.
A number of under-the-radar laser tech firms may be poised to capture a portion of this growth. Companies like nLIGHT Inc. (NASDAQ: LASR), Coherent Corp. (NYSE: COHR), and Cognex Corp. (NASDAQ: CGNX) utilize lasers in different ways, but one thing they have in common is a stamp of approval by Wall Street analysts. Below we explore why each of these firms may be worthy of investor consideration.
