Laser processing technology provides speed & high accuracy for various industrial processes as compared to conventional processing methods. This is non-contact processes, which delivers clean and damage free processes. This technology is widely used across industry verticals such as Packaging, Medical, Electronics and Microelectronics, Machine Tools, Aerospace, and Automotive.

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Rise in usage of lasers in processing materials is the key driving factor which is expected to boost the global laser processing market growth. Furthermore, rise in adoption of this technology in industrial & manufacturing sectors will have the positive impact on market growth. Moreover, government rules and regulations concerning the application of this technology in the marking and engraving of products will favorably impact on market growth during this forecast period. In addition to that, increase in demand for this technology across a broad range of applications welding, cutting, marking, engraving, comprising, and drilling will fuel the market growth.
However, high deployment cost is the major restraining factor which is expected to hamper the global laser processing market growth. Also, lack of qualified personnel will affect the market growth.

Market Key Players
Various market players are discussed in this report such as Alltec GmbH, IPG Photonics Corporation, Epilog Laser, Jenoptik AG, Newport Corporation, Rofin-Sinar Technologies Inc, Eurolaser GmbH, Trumpf Group, Lumentum Holdings Inc., and Coherent, Inc.

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Market Taxonomy
By Product
• Solid-state
• Gas
• Fiber
• Others
By Process
• Micro-processing
• Marking and Engraving
• Material Processing
By Application
• Packaging
• Medical
• Electronics and Microelectronics
• Machine Tools
• Aerospace
• Automotive
By Region
• North America
• Latin America
• Europe
• Asia pacific
• Middle East & Africa

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