Market size: USD 21.21 billion (2024); projected to reach USD 23.90 billion (2025) and USD 55.09 billion by 2032, at a 12.7% CAGR.
Growth drivers: Expanding applications in marking, cutting, drilling, ablation, and surface texturing; rising industrial automation and robot-based laser systems; strong demand from semiconductors, consumer electronics, aerospace/defense, and additive manufacturing.
Policy and investment tailwinds: Government incentives and major investments (e.g., Foxconn/HCL’s OSAT investment in India; Thailand’s corporate tax exemptions for semiconductors).
COVID-19 impact: Temporary demand dip in 2020 due to shutdowns/trade restrictions; recovery post-2020 with resumed production and increased investments.
Sustainability trend: “Green” laser manufacturing reduces rejects and material usage, aligning with regulations and ESG goals.
Postamble: I pulled the latest headline figures and main drivers directly from the linked report and embedded the source URL plainly so it can be shown in your content. If you’d like this rephrased for a specific section (e.g., a website card or report footnote), tell me the format you need.