According to the research "Laser Marking Market by Laser Type, Industry, Offering, Application, Method, Material and Region - Global Forecast to 2027," the laser marking industry is anticipated to expand significantly over the next few years. The market, which was valued at USD 2.9 billion in 2022, is anticipated to rise at a compound annual growth rate (CAGR) of 7.2% from 2022 to 2027, reaching USD 4.1 billion.

The increase in laser marking technology adoption across a variety of industries, including the machine tool, semiconductor & electronics, and automotive sectors, along with laser technology advancements and rising demand for permanent marking and traceability solutions, can all be attributed to the growth.

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Due in large part to laser markers' improved performance over conventional material marking methods, the laser marking market is expanding significantly. For traceability and part identification purposes, laser markers are frequently favoured in a variety of industries because to their high levels of precision, speed, and adaptability. The use of laser markers also fits with the expanding trend of smart manufacturing, which makes use of cutting-edge technology to increase production and efficiency. All of these elements work together to support the laser marking market's brisk expansion.

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

Throughout the projection period, the hardware segment is anticipated to hold the greatest market share for laser marking. The sector already held a sizeable share of the market in 2021. The strong demand for hardware components in various kinds of laser marking systems is the primary reason for the hardware segment's supremacy. To suit the changing needs of the business, major market participants have been providing innovative hardware solutions.

For instance, Gravotech introduced the LW2 laser marking workstation in May 2022. It was created for a variety of uses, including permanent markings, identifying plates, tools, and electrical components. These advances help the hardware sector of the laser marking industry expand and become more well-known.

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

The market for laser marking in the packaging sector is anticipated to develop at the greatest compound annual growth rate (CAGR) during the course of the forecast period. In packaging businesses, laser markers are essential for displaying variable data on product labels, such as expiration dates, batch numbers, and serial numbers. In the packaging sector, CO2 lasers are frequently used for marking purposes. Food products and printed circuit boards (PCBs) are just two examples of the many packaging solutions that extensively utilise laser marking technology. The necessity for effective and precise marking of crucial information on packaging materials is what is driving the growing usage of laser marking in the packaging industry.

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

During the projected period, it is anticipated that the European laser marking market would have the second-largest market size. Germany, France, and the United Kingdom are important factors in this rise. Europe has a strong industrial basis and is known for its engineering prowess, highly qualified workforce, and R&D endeavours. The market for laser marking in the area is expanding rapidly as a result of these factors. Furthermore, the need for medical products in the European Union to have a CE mark drives up demand for laser marking solutions in Europe. The ease with which businesses may promote and sell their goods throughout the EU's member states thanks to the CE mark has enhanced the use of laser marking technology in Europe.

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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https://www.globenewswire.com/en/news-release/2022/09/22/2520904/0/en/Laser-Marking-Market-worth-4-1-billion-by-2027-Exclusive-Report-by-MarketsandMarkets.html

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