The global low power laser cutting machine market to grow at a CAGR of 4.76% during the period 2017-2021
Global Low Power Laser Cutting Machine Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is rising investments in R&D. Government agencies in the US have started increasing investments in major scientific disciplines, supported by an organization called the National Network for Manufacturing Innovation. The organization has been primarily formed to coordinate and enhance public and private investments in future manufacturing technologies and R&D. This body also facilitates the increase in government partnerships in manufacturing innovation and accelerate commercialization.
According to the report, one of the major drivers for this market is growing demand for electronics in APAC. Asia is the largest manufacturer and consumer of electronic devices. China, Japan, South Korea, and Taiwan are the key countries contributing to the growth of the PCB industry. The major reason behind this significant growth is that companies are shifting their manufacturing bases and production facilities in these countries because of the availability of cheap labor, land, and low manufacturing costs. Singapore, Thailand, and Vietnam are the upcoming countries which are showing a high growth rate in the production of electronics.