Laser Marking Machines: A 2024 Global Market Perspective

"The Business Research Company recently released a comprehensive report on the Global Laser Marking Machine Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The laser marking machine market size has grown strongly in recent years. It will grow from $2.82 billion in 2023 to $3.05 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increasing adoption of laser marking across end-users, the use of lasers in additive manufacturing, higher penetration of electronic devices, rising automation in industries and rising adoption of laser technology.

The laser marking machine market size is expected to see strong growth in the next few years. It will grow to $4.15 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to growing demand for material processing and increased investment in r&d is expected to drive the laser marking machine market. Major trends in the forecast period include focus on developing innovative laser marking goods, focus on merger and acquisition activity, focus on deploying artificial intelligence (ai) and machine learning (ml) applications, focus on investing in technological advancement focus on collaborations and partnerships.

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Market Drivers and Trends:

Increasing demand for material processing across numerous applications, including industrial machinery, automotive, aerospace, and construction, is driving the market for industrial lasers. The need for industrial laser sources is anticipated to rise as a result of the expanding usage of laser systems for material processing, which has a number of benefits including greater productivity, flexibility, and efficiency. For instance, in January 2022, TRUMPF, a German industrial machine manufacturing company, collaborated with Fraunhofer Institute for Laser Technology ILT. Through this partnership, it became expected to advance laser material deposition research and hasten the technology's introduction to the market. Customers would benefit from the collaboration's numerous years of application-specific process experience and unique combination of top-tier laser system technology. Fraunhofer Institute for Laser Technology ILT is a creator of cutting-edge laser beam sources and premium optical parts and systems. Therefore, increasing demand for material processing boosted the market for laser marking machines during the forecast period.

3D printing technology is a key trend gaining popularity in the laser marking machine market. 3D printing is becoming more popular as the demand for high productivity, waste reduction, customization, reduced prices, and fewer errors. Industrial lasers would be in demand if 3D-printed machine tool components used selective laser melting and laser metal deposition. For instance, in August 2021, GCC, a reliable manufacturing company, that manufactures laser engravers, laser cutters, vinyl cutter machines, launched laser marker from the GCC LaserPro 3DS series. The 3D scan head built into the StellarMark 3DS series makes it simple for users to process cylinder-shaped and round objects. The working area of the scan head is 300 x 300 mm, and the focus distance is 100 mm.

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Major Key Players of the Market:

DXC Technology, Damco Group, Majesco, Shift Technology, Earnix, Simplesurance, Outsystems, Cytora Ltd, Planck Resolution LTD, Bdeo, Allianz (China) Insurance Holding Co., Ltd, Insurance Technology Services, Oscar Insurance, Quantemplate, Tokio Marine & Nichido Fire Insurance Co. Ltd, Aioi Nissay Dowa Insurance Co. Ltd, Sompo Japan Nipponkoa Insurance Inc, Grupo Nacional Provincial, MetLife Mexico, Seguros BBVA Bancomer, AXA Seguros, Banorte Seguros, State Farm Insurance, Nationwide Mutual Insurance Company, Liberty Mutual Group, The Progressive Corporation, American International Group Inc, Bradesco Saude, South America Health Insurance Company, Amil International Medical Assistance, Mapfre Seguros Gerais, Porto Seguro General Insurance Company, Dubai Insurance Company, Alliance Insurance PSC, Union Insurance Company, Zurich Life Insurance Middle East, Al Nabooda Insurance Brokers, National General Insurance Co, Al Buhaira Insurance, Howden Guardian Insurance Brokers LLC, Tawasul Insurance Services LLC, Al Wathba National Insurance Company

Laser Marking Machine Market 2024 Key Insights:

• The laser marking machine market size is expected to see strong growth in the next few years. It will grow to $4.15 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%.
• Growing Demand For Material Processing Drives The Market For Industrial Lasers
• Integration Of 3D Printing Technology Drives Innovation In The Laser Marking Machine Market
• Asia-Pacific was the largest region in the laser marking machine market in 2023

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This release was published on openPR.