Connect with us

Technology

Fiber Laser Market worth $12.8 billion by 2029 – Exclusive Report by MarketsandMarkets™

Published

on

CHICAGO, July 30, 2024 /PRNewswire/ — The fiber laser market to grow from USD 7.7 billion in 2024 and is expected to reach USD 12.8 billion by 2029, growing at a CAGR of 10.8% from 2024 to 2029 according to a new report by MarketsandMarkets™. The key factors contributing to the growth of the fiber laser market include the Industrial automation boosts fiber laser adoption for their precision, efficiency, and reliability, growing demand for fiber lasers in medical and healthcare industries, rising adoption of fiber lasers in consumer electronics, expansion of 3D printing and additive manufacturing. Fiber lasers offer high energy efficiency, low maintenance, and long lifespan.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=87036569

Browse in-depth TOC on “Fiber Laser Market” 
100 – Tables
50 – Figures
220 – Pages

Fiber Laser Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 7.7 billion

Estimated Value by 2029

$ 12.8 billion

Growth Rate

Poised to grow at a CAGR of 10.8%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Type, Operation Mode, Output Power, Industry and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Shortage of skilled professionals

Key Market Opportunities

Advanced UV Fiber Lasers

Key Market Drivers

Industrial automation boosts fiber laser adoption for their precision, efficiency, and reliability

Continuous wave to hold largest share of fiber laser market from 2024 to 2029.

With the advancement in laser technology and growing automation of manufacturing, continuous wave (CW) fiber lasers are gaining more popularity. Thus, industries are adopting fiber lasers due their high performance and reliability for higher productivity and cost-effectiveness. As new technologies evolve CW fiber lasers will revolutionize the way in which end-products are manufactured across various industries.

High power fiber lasers segment to grow at highest CAGR from 2024 to 2029

High power fiber lasers are designed and well suited for industrial manufacturing, automotive, oil & gas, and iron & steel sectors. High power fiber lasers are utilized in application which requires high power, precision and cost-effectiveness making them indispensable for challenging tasks such as thick metal cutting, deep welding as well as high-speed drilling. High power fiber lasers offer an efficient tool for higher productivity, shorter production times and improved overall operational efficiency in various sectors.

Ultrafast fiber laser to grow at second fastest CAGR from 2024 to 2029

The ultrafast fiber laser segment is set to have the second fastest growth rate during forecast period from 2024 to 2029. Due to rising need for high precision tools in various fields such as medical research, healthcare, and manufacturing the market for ultrafast fiber laser is booming. Ultrafast fiber lasers release high powerful pulses, which allows for micro-machining, delicate cutting, and complicated fabric processing with low heat damage. As industries look for ways to boost efficiency and accuracy in complex manufacturing tasks, the market for ultrafast fiber lasers is expected to grow during the forecast period.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=87036569

Europe held the second largest share of the fiber laser market in 2023.

The fiber laser industry in Europe is growing due to the rising demand for high-bandwidth broadband connections, for instance, as of 2023 92% of European union households are are having internet access. Key players automotive, aerospace & defense, and medical sectors, such as Volkswagen, Daimler, Airbus, Dassault Aviation, and Novartis, further fuels the demand for fiber laser products and solutions. Companies like TRUMPF (Germany), JENOPTIK AG (Germany), LUMIBIRD (France), and Bystronic Laser (Switzerland) contributes to the growth of fiber laser market.

Coherent Corp. (US), Trumpf (Germany), Han’s Laser Technology Industry Group Co., Ltd (China), IPG Photonics Corporation (US), and Wuhan Raycus Fiber Laser Technologies Co., Ltd. (China).  are the major players in fiber laser companies. These players have implemented various strategies to extend their global reach and enhance their market shares.

Get 10% Free Customization on this Report:
https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=87036569

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Laser Technology Market Size, Share & Industry Growth Analysis by Laser Type (Solid, Gas, Liquid), Configuration (Fixed, Moving, Hybrid), Application (Laser Processing, Optical Communication), Vertical (Telecommunications, Automotive, Medical, Industrial) and Region – Global Forecast to 2029

Laser Processing Market by Laser Type (Solid Lasers, Liquid Lasers, Gas Lasers), Configuration (Fixed Beam, Moving Beam, Hybrid), Application (Cutting, Welding, Drilling, Marking and Engraving), End-user Industry and Region – Global Forecast to 2029

Laser Diode Market by Wavelength (Infrared, Green, Blue, Ultraviolet), Doping Material, Technology (Distributed Feedback, Quantum Cascade, VCSEL), Application (Industrial, Medical, Consumer Electronics, Telecommunication), Region -Global Forecast to 2027

Laser Projection Market by Product Type (Laser Projector and CAD Laser Projection System), Illumination Type (Laser Phosphor, Hybrid, RGB Laser, Laser Diode), Vertical (Enterprise, Public Places, Cinema, Education), and Geography – Global Forecast to 2023

Interactive Projector Market by Technology (DLP, LCD), Projection Distance (Ultra short throw, short throw, and standard throw), Dimension (2D, and 3D), Application (Education, Corporate, and Government), Resolution, and Region – Global Forecast to 2022

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/fiber-lasers-companies.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/fiber-lasers.asp

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

 

View original content:https://www.prnewswire.com/news-releases/fiber-laser-market-worth-12-8-billion-by-2029—exclusive-report-by-marketsandmarkets-302209653.html

SOURCE MarketsandMarkets

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Typeform Delivers New Solutions to Empower B2C Businesses to Better Engage Customers

Published

on

By

Brands can now use video, data enrichment, and AI-powered capabilities to create interactive, hyper-personalized experiences and uncover deeper insights

SAN FRANCISCO, Nov. 14, 2024 /PRNewswire/ — Typeform, the intuitive form builder and conversational data collection platform, today announced new features that provide business-to-consumer (B2C) businesses with the context, clarity, and convenience needed to better engage and understand their customers. Now businesses can further enhance the respondent experience, all while gathering richer, actionable data. 

Today, 70% of consumer decisions are based on emotion, including brand preference.¹ Buyers expect brands to tailor experiences to their personal preferences more than ever, but at the same time, they’re also becoming more cautious about sharing personal information. Typeform’s latest features help brands collect data directly from customers through interactive, personalized experiences they trust, then automatically enhance it with third-party insights to deepen their understanding. This empowers companies to deliver more targeted, data-driven marketing.

“Businesses can’t thrive on surface-level insights,” said Aleks Bass, Chief Product Officer, Typeform. “Our latest innovations give you the ability to dig deeper into truly knowing your customers by providing dynamic data collection experiences that encourage quality responses. Whether boosting conversions with a personalized product recommendation quiz or gathering feedback through video surveys, the common denominator is that your customers enjoy the experience.”

The offerings were unveiled at Typeforum 2024, Typeform’s first-ever virtual product spotlight event, designed to showcase the latest innovations from the company. Newly released features include: 

Enhanced Video Capabilities: Typeform now allows customers to respond with video, providing businesses deeper insights through voice and expressions, not just text. This builds on Typeform’s existing feature that enables creators to record, edit, and embed personalized videos into forms, boosting engagement and conversions. Typeform research found that 65% of marketers believe video is an effective tool for engaging and interacting with customers in ways that feel more human and create connection and loyalty.²Clarify with AI: Typeform’s Clarify with AI acts as a virtual interviewer, prompting follow-up questions based on customer responses. When a customer is asked about their experience and answers vaguely, like “good,” the AI encourages more detailed feedback, asking, “Good, how? What stood out?” For customers, it feels like a personalized conversation. For brands, it delivers more insights. Automated B2C Data Enrichment: Earlier this year, Typeform introduced automated B2B data enrichment, making it easier than ever to understand customers at a deeper level without needing to ask additional questions. Now, consumer-level enrichment is available in the Typeform platform. With just a personal email address, companies can pull in key data points from trusted third-party sources, providing a more complete picture of who’s on the other side of the screen.AI-powered Qualitative Analysis: With this feature, businesses can instantly analyze large volumes of text and video responses to surface key themes and insights, saving hours of manual work. Data Quality Tools: Invisible reCAPTCHA ensures data integrity by blocking bots and automated submissions, allowing only genuine responses to be collected. This safeguard enhances data reliability, helping teams make accurate, data-driven decisions.Klaviyo Integration: Typeform will soon be launching a new integration with Klaviyo, designed for B2C and direct-to-consumer (DTC) marketers. It will ensure that every insight gathered flows seamlessly into Klaviyo. Manual data transfers are eliminated as segments automatically update with Typeform data, enabling hyper-targeted campaigns customized to each customer’s unique profile. This integration combines Typeform’s interactive data collection with Klaviyo’s automation, facilitating more natural, personalized customer connections while driving business growth.

“We built a powerful product recommendation quiz not just to help our customers, but to generate invaluable data that allows us to better segment and engage them with relevant marketing,” said Addison Wennar, Digital Communications Manager, OGEE. “With the holiday shopping season approaching, these insights will be key. Typeform already delivers the highest response rates for us, and I’m excited to see how the new features will amplify that impact.”

The features are available today in Typeform for Growth plans. Watch the Typeforum 2024 recordings and learn how to use Typeform to better understand and engage customers here

About Typeform
Typeform is a distinctly intuitive form builder that helps over 150,000 customers collect and validate the data they need to grow their businesses. Designed with striking visuals, a conversational flow, and powerful data capabilities, Typeform empowers brands to give and get more with each form. Typeform drives more than 500 million responses each year and integrates with essential tools including Zapier, HubSpot, and Slack. For more information, visit www.typeform.com.

1         Pendell, R. (2024, October 15). Customer brand preference and decisions: Gallup’s 70/30 principle. Gallup.com. https://www.gallup.com/workplace/398954/customer-brand-preference-decisions-gallup-principle.aspx#:~:text=70%25%20of%20decisions%20are%20based,Making%20Process:%20Rational%20or%20Emotional?

2          Data from a survey of 105 Typeform customers conducted on September 30, 2024.

View original content to download multimedia:https://www.prnewswire.com/news-releases/typeform-delivers-new-solutions-to-empower-b2c-businesses-to-better-engage-customers-302305917.html

SOURCE Typeform S.L.

Continue Reading

Technology

Electronic Drives and Controls Celebrates Impressive Growth and Strong Demand for Industrial Automation Solutions

Published

on

By

EDC has announced 39% revenue growth over the past year and a strengthened presence in the metals converting and composites industries. The company has also maintained key certifications, including CSIA, UL508A, Rockwell Automation, Siemens, and Ignition.

PARSIPPANY, N.J., Nov. 14, 2024 /PRNewswire-PRWeb/ — Electronic Drives and Controls, Inc. (EDC), a leading control system integrator and field service company for industrial automation and drive technology, today announced that the company has experienced a year of growth and success, achieving a 39% increase in revenue year-over-year. To meet the growing demand for automation and drive solutions, EDC has expanded its team, hiring Ricky Arcky as human resources manager and Tyler Schaberick as systems engineer. EDC attributes this growth to maintaining industry certifications, digital marketing efforts, a dedicated team, and strong, long-term partnerships.

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients.”

“We are proud of the growth we’ve achieved this year, which is a testament to the hard work of our team and our commitment to delivering exceptional service to our clients,” said Chuck Dillard, Vice President of EDC. “Our recent hires and increased project load reflect our strategy to grow both wider and deeper with our existing clients, as well as entering new industries.”

“We’ve put in years of preparation and invested heavily in digital marketing to get the word out about our services, knowing that growth was inevitable,” Dillard added. “Our team has worked tirelessly and the results speak for themselves: clients continue to return to us because of our technical expertise and the strong results we deliver.”

EDC’s expertise in coating & laminating, wire and cable, PLC programming and upgrades, as well as drive service, has allowed the company to strengthen its presence in the metals converting industry, securing new and expanded projects across multiple client plants. EDC has also successfully completed upgrades for a new client in the composites industry, widening the portfolio of industries it caters to.

In addition to recent growth, EDC remains committed to maintaining the highest industry standards through its CSIA certification, which ensures adherence to best practices in control system integration. Several certifications, including UL508A recertification and certifications from Rockwell Automation, Siemens, and Ignition, further emphasize EDC’s dedication to safety, technical proficiency, and continuous improvement.

About Electronic Drives and Controls, Inc.
Founded in 1968, Electronic Drives and Controls, Inc. (EDC) is a CSIA Certified control system integrator with deep domain expertise in the coating and laminating, and converting industries. The company’s large field service team specializes in AC and DC drives, PLCs and factory automation. Family owned and operated for more than 50 years, EDC’s team of engineers and technicians has a vast experience integrating new control systems and breathing life into older equipment. EDC has the engineering capability to design, build, start-up and service projects from the sophisticated to the simple and the service support team on call 24/7/365 to keep it all running at peak efficiency from day one and for years to come. In addition to the company’s certification as a Siemens Solution Partner and a Rockwell Automation Recognized System Integrator, EDC is a factory authorized/factory trained service center for over 40 drive brands. For more information, visit the company’s website, LinkedIn, Twitter, Facebook, and YouTube.

Media Contact

Georgia Whalen, Rivergate Marketing, (978) 697-2664, Gwhalen@rivergatemarketing.com, www.electronicdrives.com/home/

View original content to download multimedia:https://www.prweb.com/releases/electronic-drives-and-controls-celebrates-impressive-growth-and-strong-demand-for-industrial-automation-solutions-302305739.html

SOURCE Electronic Drives and Controls, Inc. (EDC)

Continue Reading

Technology

Allstate Financial Services Selects Covr to Provide Life Insurance, Long-Term Care, and Disability Insurance Solutions

Published

on

By

Covr’s Digitally Enabled Insurance Platform Will Simplify the Buying Process

HARTFORD, Conn., Nov. 14, 2024 /PRNewswire/ — Covr, a leading digital insurance provider, has partnered with Allstate Financial Services, LLC to offer a streamlined suite of life, long-term care (LTC), and disability income insurance solutions through Covr’s digital platform. This partnership provides Allstate Financial Services customers with a simple, connected experience, featuring an intuitive, paperless process that makes it easier than ever to purchase insurance tailored to their diverse needs.

Covr’s platform offers an easy-to-use, self-guided experience to efficiently compare and recommend insurance products. Additionally, Allstate Financial Services will offer a range of products through Covr’s platform, including guaranteed issue life insurance through Gerber Life and disability insurance through Assurity, Ameritas, MassMutual, Mutual of Omaha and Principal. Traditional long-term care will also be available through Mutual of Omaha.

“We are extremely pleased to add Allstate’s network of 7,000+ representatives to our insurance platform,” said Michael Kalen, CEO of Covr. “Their business owners and individual customer base fits perfectly with our portfolio of simplified life, LTC, and disability income solutions for agents and their customers.”

“We’re committed to expanding solutions that better meet our customers’ protection needs,” said Scott Delaney, President and CEO, Allstate Financial Services. “With Covr’s digital platform, our representatives can deliver a more connected experience and offer a broader range of insurance options tailored to each customer’s unique needs.”

Allstate representatives will collaborate closely with Covr’s sales team to ensure ongoing support. Allstate Financial Services will also benefit from Covr’s top-tier case management services, providing end-to-end support throughout the entire insurance process.

View original content to download multimedia:https://www.prnewswire.com/news-releases/allstate-financial-services-selects-covr-to-provide-life-insurance-long-term-care-and-disability-insurance-solutions-302306004.html

SOURCE Covr Financial Technologies

Continue Reading

Trending