INDUSTRIAL LASER SYSTEMS MARKET ANALYSIS

Market Challenges And Opportunities

Global Industrial Laser Systems Market Restraints:

Stringent regulations around usage of laser to hamper the market growth

Enterprises who adopt laser solutions have to adhere to several safety regulations imposed by governments. Countries such as the U.S., Canada, and EU have imposed regulations regarding use of laser and safety surrounding it. Due to these regulations buyers also have to invest in training, protective gear, and medical checkups for the employees regularly. Moreover, the cost of equipment is higher as compared to traditional counterparts. Due to these factors, the adoption of laser in the industrial space is affected adversely. This in turn is expected to hamper growth of the global industrial laser systems market over the forecast period.

High cost of laser systems to impede its adoption

The initial cost of installing laser systems in industrial settings is comparatively high. Along with this, buyers are required to invest also in the safety gears used while operating these systems, which along with the timely maintenance adds into the overall cost of industrial laser systems. Moreover, operating these systems require knowledge and information. Several vendors lack skilled professionals to operate these systems. Thus, the aforementioned factors are thus expected to hinder growth of the global industrial laser systems market over the forecast period.

Global Industrial Laser Systems Market Drivers:

Improved accuracy and precision over traditional alternatives to drive the market growth

Laser cutting systems are utilized for efficiently and accurately slicing plastic, metal, and other different materials used for manufacturing. This technology offers precision cutting and welding, as it can focus on about 25 microns, which is nearly one fourth of the size of a human hair. Thus, this technology is feasible for removing the minimum amount of material in order to create the cut with high precision and accuracy. A laser cutter system uses computer systems for precisely cutting material within particular cutting tolerance and these are integrated with CAD Software, which guides the laser. Thus, due to such advantages of using industrial laser systems, their demand is increasing over conventional alternatives. This in turn is expected to augment growth of the global industrial laser systems market over the forecast period.

Increasing demand for miniaturization of component parts to fuel the market pace

With increasing technological development in industries such as automobile, consumer electronics, networking and telecom, and healthcare, and computing has created the need for strong and small electronic device. With such demands for portable electronic equipment, the need for precise dimensional accuracy for components such as displays increases. This in turn drive the demand for the fabrication materials required for developing high-performance semiconductor components. Thus, the demand for miniature equipment has increased within highly integrated, high-speed applications such as aerospace and few consumer electronics. This in turn is boosting the demand for industrial laser systems, which is likely to fuel growth of the global industrial laser systems market over the forecast period.

Global Industrial Laser Systems Market Opportunities:

Increasing growth of Industry 4.0, AI, and Big Data is expected to bring multiple growth opportunities in the global industrial laser systems market over the forecast period. With the emergence of Industry 4.0, AI, and Big Data, the applications of laser systems are likely to grow in manufacturing shopfloors along with most sophisticated and technologically developed robotic systems and software. As the AI is making its way to the manufacturing plants, such planning of production in the near future will make them produce novel types of laser processing procedures, which will refine all the steps as they learn more and take over the programming of connected devices. This in turn will provide multiple opportunities to the market.

Increasing transformation of automobile industry to electric vehicles is also expected to create growth opportunities in the global industrial laser systems market over the forecast period. The automobile industry is transitioning from internal combustion engines to electric vehicles, which is creating new applications, where lasers are considered as an important factor for extremely efficient mass production of novel components. Future laser welding systems thus will feature abilities such as to be controlled by a robotic arm, the rugged quality of welds, and fast welding speed. Thus, this in turn is likely to create several business opportunities in the market.