ALBANY, N.Y.--(BUSINESS WIRE)--Transparency Market Research has recently published a research report titled “Laser Processing Market (By Process - Material processing, Marking and Engraving and Micro-processing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020”. According to the research report, the laser processing market was worth US$8.76 billion in 2013 and is estimated to reach US$17.26 billion in 2020, increasing at 10.2% CAGR during 2014 to 2020.
The report talks about the previous, present, and future market situation of laser processing market on the basis of in-depth analysis of the market and its segments. It also explains the trends, drivers, restraints, and prospects of the laser processing market in details. The report analyzes the laser processing market on four fronts: Product, process, end-user industry, and region. On the basis of products, the laser processing market is segmented as gas lasers, solid state lasers, fiber lasers, and others. Based on process, the laser processing market is divided into material processing market, laser marking and engraving market, and laser micro-processing market. By end-user industry, the market is classified into automotive, aerospace, original equipment manufacturers, electronics and micro-electronics, medical treatment and devices, and packaging. Geographically, the laser processing market is categorized into North America, Europe, Asia Pacific, and Rest of the World.
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The Asia Pacific region accounted for the largest share of the global laser processing market in 2013 and is estimated to be the fastest developing market for laser processing at a CAGR of 10.9% from 2014 to 2020. The growth of laser processing technologies in consumer electronics, automobile, and other markets of Asia Pacific region, specifically across nations such as China, South Korea, and Japan is triggering the growth of laser processing market in this region.
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