With a strong compound annual growth rate (CAGR) of 7.2%, the Laser Marking Market is expected to rise from USD 2.9 billion in 2022 to USD 4.1 billion by 2027.

The broad use of laser marking in a variety of industries is driving this expansion. A variety of applications are served by the laser types available on the market, such as fibre, diode, solid-state, CO2, and UV lasers. The automotive, semiconductor, and electronics sectors are the main drivers of this expansion. The market's dynamic landscape is influenced by a variety of factors, including its offers, applications, processes, materials, and geographical presence. The market is expected to rise steadily as a result of increased acceptance in a wide range of industrial applications and technological advancements, as laser marking continues to gain popularity for its accuracy, efficiency, and versatility.

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Due to laser markers' improved performance over conventional material marking techniques, the laser marking market is expanding rapidly. The market is growing as a result of the increased use of laser markers for part identification and traceability across a wide range of industries. Using smart manufacturing techniques accelerates this growth trajectory even more. Laser marking becomes the go-to option for manufacturers looking for cutting-edge technologies that can mark a variety of materials with accuracy, speed, and adaptability. This leads to its widespread adoption and the market's increasing trajectory.

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Hardware segment to hold largest share of laser marking market during the forecast period.

Over the course of the forecast period, the hardware sector is expected to dominate the laser marking market. The hardware segment accounted for the greatest proportion in 2021, and this trend is anticipated to continue. One of the main reasons for the segment's leadership in terms of market size is the significant demand for hardware components across a range of laser marking systems. The segment's vitality and innovation in meeting changing market needs are highlighted by ongoing advancements in laser marking hardware, as demonstrated by recent product launches like Gravotech's LW2 laser marking workstation, which is designed for a variety of applications like identification plates, tools, electronic components, automotive parts, and medical instruments.

Laser marking market for packaging industry is expected to grow at the highest CAGR during the forecast period

Over the course of the projection period, the packaging industry's laser marking market is expected to develop at the fastest compound annual growth rate (CAGR). In the packaging industry, laser marking is essential because it is used to show important variable data, such as batch and serial numbers, expiration dates, and product labels, in a variety of packaging applications. In the packaging business, CO2 lasers in particular are widely used for marking applications. Applications for laser marking include anything from food packaging to printed circuit boards (PCBs). This shows how flexible and essential laser technology is for maintaining product information and traceability in the packaging industry.

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Laser marking market in Europe is expected to hold the second largest size during the forecast period.

During the projected period, the European laser marking market is expected to hold the second-largest market size, with significant contributions from well-known economies including Germany, France, and the UK. These nations, which benefit from a strong industrial base, international recognition for their outstanding engineering capabilities, a skilled labour force, and ongoing research and development (R&D) initiatives, are key drivers of the European laser marking market's expansion. Furthermore, Europe has strict laws governing medical devices, requiring manufacturers to get the CE Mark before they can advertise or sell their goods in any of the member nations of the European Union. The European laser marking market is expected to be driven by this regulatory environment, which will promote traceability and regulatory standard compliance, especially in the manufacturing and healthcare sectors.

Key players involved in the manufacturing of laser marking systems are Coherent, Inc. (US), TRUMPF (Germany), Han’s Laser Technology Co., Ltd. (China), Gravotech Marking (France), IPG Photonics Corp. (US), 600 Group (UK), Danaher Corp. (US), Novanta Inc. (US), KEYENCE Corp. (Japan), Huagong Tech Co., Ltd. (China), Trotec Laser (Austria), Epilog Laser (US), and MECCO (US), among others.

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