The global laser marking market is estimated to garner a revenue of close to USD 1110 Million by the end of 2030, up from a revenue of around USD 650 Million in the year 2020.
The global laser marking market is anticipated to grow with a CAGR of 5.6% over the forecast period, i.e., 2021 - 2030.
Factors such as the growing production of manufacturing industries worldwide, and the value added by these industries to the GDP of the nations, followed by the numerous benefits associated with the adoption of laser marking systems are expected to contribute to the market growth.
Moreover, factors such as the growing need amongst the manufacturing organizations to track and trace their final products or products under manufacturing process, along with the growing advancements in laser technology are also projected to create numerous opportunities for market growth.
The global laser marking market is segmented by numerous segments, which include segmentation by laser type, type, offering, application, end-user industry, and by region. By laser type, the market is segmented into CO2 laser, diode laser, fiber laser, and solid state laser.
Amongst these, the fiber laser segment is anticipated to garner the largest revenue of about USD 670 Million by the end of 2030. Moreover, in the year 2020, the segment registered a revenue of near to USD 360 Million.
The market in the Asia Pacific region is anticipated to garner the largest revenue of about USD 490 Million by the end of 2030. Moreover, in the year 2020, the market in the region generated a revenue of near to USD 270 Million in the year 2020.