The laser marking market is expected to grow from US$2.9 billion in 2022 to US$4.1 billion in 2027 at a CAGR of 7.2% from 2022 to 2027. The growth of the laser marking market can be attributed to the higher productivity of laser marking machines compared to conventional material marking methods.
The laser marking market for laser engraving methods is expected to hold the largest share from 2022 to 2027.
The use cases for laser engraving technology in the industrial sector are rapidly expanding. One of the most important parts is identification security, and laser engraving is ideal for credit cards, ID cards, confidential documents, and other items that require a higher level of security. Laser engraving is also being used in a variety of emerging applications such as woodworking, metalworking, digital and retail signage, pattern making, clothing stores, fabric stores, gadgets and sports equipment.
The QR code laser marking market is expected to hold the largest share during the forecast period. QR codes are used in various industries such as construction, packaging, medicine, automotive and semiconductor manufacturing. With the help of professional laser marking software, laser marking systems can print QR codes directly on products made from almost any material. With the explosion of smartphones, QR codes have become more common and more and more people can scan them. QR codes are becoming the standard for product identification. A QR code can link to a URL, such as a Facebook page, YouTube channel, or company website. With recent advances, 3D codes are starting to emerge that require a 3-axis laser marking machine to mark uneven surfaces, hollow or cylindrical surfaces.
The North American Laser Marking Market will grow with the second highest CAGR over the forecast period.
The North American laser marking market is expected to grow at the second highest CAGR during the forecast period. The United States, Canada and Mexico are the main contributors to the growth of the North American laser marking market. North America is one of the most technologically advanced regions and a huge market for laser marking equipment, as well-known system suppliers, large semiconductor companies, and automobile manufacturers are located here. North America is a key region for the development of laser marking in the machine tool, aerospace and defense, automotive, semiconductor and electronics industries.
Post time: Dec-30-2022
