Laser Automation Market Is Estimated To Witness High Growth Owing To Increasing Demand For Precision Manufacturing

 

Laser Automation Market

The global Laser Automation Market is estimated to be valued at US$ 6.48 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Overview:

Laser automation includes integration of laser machines, systems, and software in industrial production lines and processes. Laser technology improves accuracy and precision in cutting, engraving, welding and drilling applications. Laser processing enhances productivity and reduces wastage in various end-use industries.

 

Market key trends:

One of the major trends gaining traction in the laser automation market is the growing adoption of fiber laser technology. Fiber lasers offer advantages over traditional CO2 lasers such as high beam quality, excellent cut quality, low operational cost and flexibility of beam delivery through fiber optics. They have emerged as a reliable and cost-effective solution for laser cutting and welding applications in automotive, consumer electronics and appliance industries. The compact size, reliability and cost benefits of fiber lasers are boosting their adoption over other laser sources in industrial laser processing.

Segment Analysis

 

The global laser automation market is segmented by laser type into CO2 laser, solid-state laser, fiber laser and others. Among these, the fiber laser segment dominates the market and accounted for over 30% share in 2022. Fiber lasers offer advantages of high beam quality, reliability and efficiency over conventional lasers. Their ability to produce ultra-short pulses with high average power makes them well-suited for industrial applications like cutting, welding and marking.

 

Key Takeaways

 

The Global Laser Automation Market Size is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing automation in manufacturing industries.

 

Regional analysis: Regionally, Asia Pacific dominated the laser automation market in 2022 and is expected to grow at the fastest rate during the forecast period. The growth in Asia Pacific region can be attributed to rapid industrialization and presence of emerging economies like China and India with huge manufacturing bases.

 

Key players: Key players operating in the laser automation market are Trumpf GmbH + Co. KG, Coherent, Inc., IPG Photonics Corporation, Han's Laser Technology Industry Group Co., Ltd., Rofin-Sinar Technologies Inc., Jenoptik AG, Amada Miyachi America, Inc., Newport Corporation, Prima Power, Fanuc Corporation. Trumpf GmbH + Co. KG is the global leader in the marketowing to its diversified product portfolio and strong geographical presence across major markets.

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https://www.dailyprbulletin.com/laser-automation-market-size-share-growth-outlook-2023/

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