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Laser cutting market could hit $3.77B in 2018

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The laser cutting market is expected to reach $3.77 billion in 2018, according to MarketsandMarkets of Dallas. The value of that market was $2.08 billion in 2012 but will reach nearly $4 billion in 2018, at an estimated compound annual growth rate of 9.71 percent.

The rapid adoption of lasers in materials processing over the past decade to replace older mechanical tools has changed the market dramatically, and the laser cutting market is seeing positive growth because of more support from the government bodies, regulatory bodies and associations of various kinds, the company said, including rulings by the Federal Aviation Administration requiring laser marking of wires and parts, and the FDA’s push to have manufacturers mark equipment and drug packages.

Published: September 2013
Glossary
laser marking
Laser marking is a process in which a laser beam is used to mark or engrave a surface by altering its properties or appearance. This technique is widely used for labeling, identification, and decoration of various materials, including metals, plastics, ceramics, glass, and more. Laser marking provides a permanent and high-precision method for adding information or graphics to a wide range of objects. Key features of laser marking include: Contactless process: Laser marking is a non-contact...
machine vision
Machine vision, also known as computer vision or computer sight, refers to the technology that enables machines, typically computers, to interpret and understand visual information from the world, much like the human visual system. It involves the development and application of algorithms and systems that allow machines to acquire, process, analyze, and make decisions based on visual data. Key aspects of machine vision include: Image acquisition: Machine vision systems use various...
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