INDUSTRIAL LASER SYSTEMS MARKET ANALYSIS

Industrial Laser Systems MarketSize and Trends

The global industrial laser systems market size was valued at USD 21,500.0 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.88% from 2023 to 2030. The Industrial Laser Systems market is expected to witness significant growth during the forecast period owing to the growing trend of automation for improved productivity, high efficiency, and accuracy. The market is also driven by the increase in demand for material processing in various industries such as aerospace, automotive, industrial machinery, and electronics.

Global Industrial Laser Systems Market Trends:

Increasing semiconductor and consumer electronic applications is a recent trend

Semiconductor and consumer electronics applications, such as treatment of brittle material, like sapphire, ceramics, polymers, glass, and others, are becoming a major market prospects for lasers as well as short-pulse lasers. Due to the miniaturization, delicate materials, or cosmetics, companies in consumer electronics need various types of laser methods for part treatment. Thus, trend is creating strong demand for industrial laser systems, which in turn is likely to drive growth of the global industrial laser systems market over the forecast period.

Emerging quantum technology is a growing trend

The rapidly emerging quantum technology is likely to play an important role in different fields ranging from revolutionary medical sensor systems to self-driving cars, new microscopes and equipment, and new types of data encryption. Some of the companies such as Trumph are already involved in production of industrial solutions with respect to the requirements of Quantum Technology. Thus, this trend is likely to continue in the global industrial laser systems market over the forecast period.