October 06, 2022 04:58 ET | Source: Research and Markets Research and Markets
Dublin, Oct. 06, 2022 (GLOBE NEWSWIRE) -- The "Laser Marking Market by Laser Type (Fiber Laser, Diode Laser, Solid-state Laser, CO2 Laser, UV Laser), Industry (Machine Tools, Semiconductor & Electronics, Automotive), Offering, Application, Method, Material and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The laser marking market is estimated to grow from USD 2.9 billion in 2022 to reach USD 4.1 billion by 2027; it is expected to grow at a CAGR of 7.2% from 2022 to 2027. The growth of the laser marking market can be attributed to higher performance of laser markers over traditional material marking techniques.
The laser marking market for laser engraving methods is expected to hold the largest share from 2022 to 2027.
Laser engraving is seeing a rapid rise in use cases for the technology in the industrial segment. One of the bigger segments is identification security, where laser engraving is ideal for credit cards, ID cards, sensitive documents, and other items requiring increased safety measures. Laser engraving is also being used for multiple new applications such as woodworking, metalworking, digital and retail signage, model-making, apparel shops, fabric shops, gadgets, and sports equipment.
The laser marking market for QR codes is expected to hold the largest share during the forecast period.
Laser marking market for QR codes is expected to hold the largest share during the forecast period. QR codes are used across different industries, such as construction, packaging, medical, automotive, and semiconductor. With specialized laser marking software, laser marking systems can directly mark QR Codes onto products made of almost any material. With the explosion of Smartphones, QR codes are becoming more commonplace and are scannable by a growing portion of the population. QR codes are becoming a standard for product identification. The QR code can link to a URL address such as a Facebook page, YouTube channel, or company website. With recent advancements, 3D codes have come into the picture, requiring 3-axis laser marking machines for marking uneven surfaces or hollow or cylindrical surfaces.
The laser marking market in North America to grow at the second highest CAGR during the forecast period.
The laser marking market in North America is expected to grow at the second highest CAGR during forecast period. The US, Canada, and Mexico are the major contributors to the growth of the laser marking market in North America. North America is one of the most technologically advanced regions and is a massive market for laser marking devices because of the presence of prominent system suppliers, large semiconductor companies, and automobile manufacturers. North America is a pivotal region for the growth of laser marking in machine tools, aerospace & defense, automotive, and semiconductor & electronics industries.
6 Laser Marking Market, by Offering
7 Laser Marking Market, by Laser Type
8 Laser Marking Market, by Product Type
9 Laser Marking Market, by Machine Type
10 Laser Marking Market, by Method
11 Laser Marking Market, by Material
12 Laser Marking Market, by Application
13 Laser Marking Market, by Industry
14 Laser Marking Market, by Region
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