Summary

The laser marking market is estimated to grow from USD 2.9 billion in 2022 to reach
USD 4.1 billion by 2027; it is expected to grow at a CAGR of 7.2% from 2022 to 2027. The growth of the laser marking market can be attributed to higher performance of laser markers over traditional material marking techniques.
“The laser marking market for laser engraving method is expected to hold largest share from 2022 to 2027”
Laser engraving is seeing a rapid rise in use cases for the technology in the industrial segment. One of the bigger segments is identification security, where laser engraving is ideal for credit cards, ID cards, sensitive documents, and other items requiring increased safety measures. Laser engraving is also being used for multiple new applications such as woodworking, metalworking, digital and retail signage, model-making, apparel shops, fabric shops, gadgets, and sports equipment.
“Laser marking market for QR codes is expected to hold the largest share during the forecast period.”
Laser marking market for QR codes is expected to hold the largest share during the forecast period. QR codes are used across different industries, such as construction, packaging, medical, automotive, and semiconductor. With specialized laser marking software, laser marking systems can directly mark QR Codes onto products made of almost any material. With the explosion of Smartphones, QR codes are becoming more commonplace and are scannable by a growing portion of the population. QR codes are becoming a standard for product identification. The QR code can link to a URL address such as a Facebook page, YouTube channel, or company website. With recent advancements, 3D codes have come into the picture, requiring 3-axis laser marking machines for marking uneven surfaces or hollow or cylindrical surfaces.
“The laser marking market in North America to grow at the second highest CAGR during forecast period.”
The laser marking market in North America is expected to grow at the second highest CAGR during forecast period. The US, Canada, and Mexico are the major contributors to the growth of the laser marking market in North America. North America is one of the most technologically advanced regions and is a massive market for laser marking devices because of the presence of prominent system suppliers, large semiconductor companies, and automobile manufacturers. North America is a pivotal region for the growth of laser marking in machine tools, aerospace & defense, automotive, and semiconductor & electronics industries.
Breakdown of the profile of primary participants:
• By Company Type: Tier 1 – 30%, Tier 2 – 50%, and Tier 3 – 20%
• By Designation: C-level Executives – 30%, Directors – 45%, Others - 25%
• By Region: North America – 20%, Europe – 30%, Asia Pacific – 45%, and RoW – 5%
Coherent, Inc. (US), TRUMPF (Germany), Han’s Laser Technology Co., Ltd. (China), Gravotech Marking (France), IPG Photonics Corp. (US), 600 Group (UK), Danaher Corp. (US), Novanta Inc. (US), KEYENCE Corp. (Japan), Huagong Tech Co., Ltd. (China), Trotec Laser (Austria), Epilog Laser (US), and MECCO (US) are among a few of the players in the laser marking market.
Research Coverage
Based on offering, the laser marking market has been segmented into hardware, software, and services. Based on material, the laser marking market has been segmented into plastic; metal; glass, paper, and ceramics; and others. Based on laser type, the laser marking market has been segmented into fiber laser, diode laser, solid-state laser, CO2 laser, UV Laser and others. Based on method, the laser marking market has been segmented into annealing, ablation, engraving, and others. Based on product type, the laser marking market has been segmented into portable and fixed laser marking. Based on machine type, the laser marking market has been segmented into 2D laser marking and 3D laser marking.
Based on application, the laser marking market has been segmented into bar codes, logos, date codes, part numbers, QR codes, and others. Based on industry, the laser marking market is segmented into machine tools, automotive, semiconductor & electronics, aerospace & defense, healthcare, packaging, and others. Based on region, the laser marking market has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW).

Reasons to Buy Report
The report would help market leaders/new entrants in the following ways:
1. This report segments the laser marking market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across offerings, materials, methods, laser types, product types, machine types, applications, industries, and regions.
2. The report helps stakeholders understand the pulse of the market and provides information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape provides market share analysis and company evaluation quadrant for the key players operating in the laser marking market.