by The Laser Automation Market is estimated to be valued at US$ 6.48 Billion 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 systems utilize high-powered lasers for various industrial applications such as cutting, welding, drilling, stripping, and engraving. They offer improved accuracy, faster processing, and high precision as compared to traditional machine tools. Major industries utilizing laser automation include automotive, electronics, aerospace & defense, healthcare, and others. These systems help increase productivity and reduce overhead costs for manufacturers.
Market Dynamics:
Increasing adoption of Industry 4.0 is a major driver for the laser automation market. Integration of advanced technologies such as artificial intelligence, machine learning, internet of things, big data analytics etc. enables autonomous and intelligent manufacturing. This reduces human intervention and improves operational efficiencies. For example, laser cutting machines equipped with AI and IoT can self-optimize based on real-time production data. Another driver is the growing need for mass customization. Laser technology allows modifying designs on the fly and produces customized parts on demand, giving manufacturers an competitive edge over mass production.
Segment Analysis
The global laser automation market is segmented into laser type, laser process, industry, and region. Based on laser type, the fiber laser segment is dominating the market owing to its small size, high beam quality, and reliability. Fiber lasers deliver excellent power density with much higher efficiencies than other solid-state lasers.
PEST Analysis
Political: The governments across regions are supporting the adoption of laser automation solutions through funding and subsidies as it enhances productivity and manufacturing capabilities.
Economic: The cost-effectiveness of laser automation over traditional manufacturing methods is driving its adoption across industries. Laser processing allows mass production and reduces production time.
Social: Laser automation reduces dependency on labor-intensive production. It ensures compliance with stringent safety and quality standards through precision and consistent performance.
Technological: Advancements in fiber laser technology, machine vision technologies, and robotics integration have enhanced the scope of applications for laser automation. Multi-axis laser machining centers are enabling complex workings with high precision.
Key Takeaways
The Global Laser Automation Market Size is expected to witness high growth, exhibiting CAGR of 7.0% over the forecast period, due to increasing demand from the automotive industry for precision laser cutting and welding applications.
Regional analysis: Asia Pacific dominates the laser automation market with countries like China, Japan, and India contributing significantly to demand. Government initiatives in these countries promoting industrial automation and rising Electronics production are fueling market growth in the region.
Key players: Key players operating in the laser automation market include 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 and Coherent are focusing on developing advanced fiber laser technologies to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
