Automation Market
The global Laser Automation Market is estimated to be valued at US$ 6.48 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Laser automation includes laser cutting, welding, laser marking and engraving of several materials for applications in automotive, electronics and packaging industries. Laser automation offers advantages like high accuracy and precision, contactless procedure and ability to work with wide range of materials. The need for laser automation arises from growing demand for mass customization and optimal manufacturing processes.
Market key trends:
One of the key trends in the laser automation market is the integration of artificial intelligence. AI enables machine learning capabilities in laser systems to optimize processing parameters, predict performance and reduce downtime. AI helps laser machines to become self-learning and self-correcting. With AI, laser systems can efficiently analyze huge volumes of process data and Feedback to offer customized solutions for unique manufacturing needs. This significantly improves production efficiency and quality.
Segment Analysis
The global laser automation market is dominated by the laser cutting sub-segment. Laser cutting accounts for nearly 50% of the global laser automation market owing to its wide applications in various industries such as automotive, electronics, and others. Laser cutting offers precision cutting of intricate designs and shapes. It also reduces wastage and improves productivity significantly compared to traditional cutting methods.
Key Takeaways
The global laser automation market is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing productivity and precision requirements across various industries.
The regional analysis related content comprises Asia Pacific dominates the global laser automation market. China is the fastest growing market in the region due to growing electronics and automotive industries. North America and Europe are other major markets driven by early technology adoption.
Key players related content comprises Key players operating in the laser automation market are Trumpf GmbH + Co. KG, Coherent, Inc., IPG Photonics Corporation, Han’s Laser Technology Industry Group Co., Ltd., Rofin-Sinar Technologies Inc., Jenoptik AG, Amada Miyachi America, Inc., Newport Corporation, Prima Power, and Fanuc Corporation. Trumpf GmbH + Co. KG and Coherent, Inc. dominate the global laser automation market owing to their strong product portfolio and global presence.
