QYResearch forecasts that the laser processing market to grow from USD 3.12 Billion in 2016 to USD 5.26 Billion by 2022
Qyresearch forecasts that the laser processing market to grow from USD 3.12 Billion in 2016 to USD 5.26 Billion by 2022, at a CAGR of 9.13% from 2016 to 2022. The major factors driving the growth of this market include diversified application areas of lasers, adoption of lasers for material processing, increased demand for high-quality and genuine end products, and miniaturization of electronic devices. In addition, the rising demand for laser processing systems in the medical sector is expected to propel the growth of the laser processing market in the next five years. www.qyresearchglobal.com
Qyresearch forecasts that the laser processing market to grow from USD 3.12 Billion in 2016 to USD 5.26 Billion by 2022, at a CAGR of 9.13% from 2016 to 2022. The major factors driving the growth of this market include diversified application areas of lasers, adoption of lasers for material processing, increased demand for high-quality and genuine end products, and miniaturization of electronic devices. In addition, the rising demand for laser processing systems in the medical sector is expected to propel the growth of the laser processing market in the next five years. www.qyresearchglobal.com
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The <strong>laser</strong> <strong>process<strong>in</strong>g</strong> <strong>market</strong> <strong>in</strong> APAC is expected <strong>to</strong> hold <strong>the</strong> largest share dur<strong>in</strong>g <strong>the</strong> forecast<br />
period. APAC offers potential <strong>grow</strong>th opportunities <strong>to</strong> <strong>the</strong> <strong>laser</strong> <strong>process<strong>in</strong>g</strong> <strong>market</strong> as <strong>the</strong>re is a<br />
rise <strong>in</strong> <strong>the</strong> verticals us<strong>in</strong>g <strong>laser</strong> systems such as aerospace & defense and architecture <strong>that</strong><br />
leverage on <strong>the</strong> power of <strong>laser</strong>s for carry<strong>in</strong>g out functions such as material <strong>process<strong>in</strong>g</strong> and<br />
mark<strong>in</strong>g & engrav<strong>in</strong>g <strong>that</strong> are time-consum<strong>in</strong>g and cumbersome.<br />
However, <strong>the</strong> cost of own<strong>in</strong>g a <strong>laser</strong>-based system is high and thus is a major fac<strong>to</strong>r h<strong>in</strong>der<strong>in</strong>g<br />
<strong>the</strong> <strong>grow</strong>th of <strong>the</strong> said <strong>market</strong>. There are a few <strong>laser</strong> systems which are priced on <strong>the</strong> higher side<br />
due <strong>to</strong> <strong>the</strong>ir high power output and high efficiency.<br />
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