Kenneth Research, in its repository of market research reports, has recently added a report on Fiber Laser Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Fiber Laser Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Fiber Laser Market products.
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Kenneth Research, in its repository of market research reports, have recently added a report on Fiber Laser Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022 2031. The Fiber Laser Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide.
According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.
Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.
A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of global fiber laser market on the basis of Industrial applications (Macro processing , Micro processing , Advance Application and Marking & Engraving ),By Region (North America, Europe, APAC and ROW), By End User Applications.
Global Fiber Laser Market is forecasted to grow at a CAGR of 16.24 % during 2016 – 2021. The strong growth is driven by the increasing demand of fiber lasers in various types manufacturing processing. Industrial fiber laser systems are firmly established in material processing operations among manufacturing industries whole across the globe. Manufacturing industries use different types of sheet cutting, marking, engraving, bonding, etching etc. Additionally the high power continuous wave fiber lasers are gaining wider acceptance in the market place. In terms of industrial application fiber lasers are widely used in macro processing applications, while advance material processing and scientific applications will create fair opportunities for the fiber lasers.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Although, macro processing industrial applications have wider acceptance of fiber lasers, advance applications and marking & engraving industrial application ( precision engineering ) will present fair opportunities for the acceptance of fiber lasers. APAC is predicted to grow with a CAGR of 16.86% during the year 2016-2012F, which is mainly driven by the increase in number of general manufacturing industries along with the rise in the demand of consumer electronics will drive the market.
According to Azoth Analytics research report, “Global Fiber Laser Market: Analysis By Industrial Applications , By End User Applications, By Region, By Country (2016-2021)”, is projected to exhibit a CAGR of over ~15.43% during 2016 – 2021, largely driven by increased use of fiber lasers in automotive sector, aerospace(drilling), medical industry (laser and cosmetic surgery, precision cutting of medical devices etc.) along with increasing research and developments in the field of industrial lasers.
Scope of the Report
The report provides coverage by Industrial Applications, By Region, By Country
By Industrial Applications
• Macro processing
• Micro processing
• Advance Application
• Marking & Engraving
• North America
• Asia Pacific
• By Country
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