Contributing Factors to the Growth of Laser Engraving

In the past, laser engraving was believed to be a process used exclusively by industrial companies to mark tools and parts or trophy shops to customize recognition products and awards. Today, though, with several small businesses popping up and the rise in the maker movement, laser engraving has grown into a profitable industry that takes just a small investment to join. For those who are looking for help getting information, keep reading. Some of the factors attributing to the growth of laser engraving can be found below.

Growth Statistics

In the past five years, the market for laser engraving has grown significantly, which has resulted in a compound annual growth rate of about 5.5%. Something that has driven this growth is the increased consumer demand for personalization and customization of products like wood, cutlery, tablets, smartphones, metal, and more. Also, businesses have begun using lasers for unique purposes, such as customizing in-house signage, employee awards, and promotional items.

It is expected that, in the coming five years, the total revenue and shipments will continue to grow thanks to laser engraving services becoming more widely available and affordable. Keep reading to learn more about the factors that have impacted the growth of the laser engraving industry.

Increased Interest and Focus on Customization and Personalization

If a person has ever visited Etsy, it is simple to see how and why laser engraving has grown in the past few years. The focus on personalizing and customization offers a way to take something simple, like champagne flutes, and transform them into a meaningful and personalized gift. However, searching for laser engraved on sites like Etsy show plenty of vendors who offer countless personalized products including purses, dog collars, pens, golf tees, tools, computer supplies, and so much more.

Increased Accessibility

Laser cutting and engraving machines were hard to come by in the past. The supply was limited and the cost for purchasing a machine was too high for most small businesses or personal users. Today, though, laser engraving is not just for big factories. Anyone, even a person with a new business idea, can find affordable laser cutting machines to purchase.

This high level of accessibility has increased the adoption of laser engravers in many industries and businesses. They can now be found in school labs, makerspaces, fabrication labs, and more.

The Maker Movement

The total number of makers continues to grow day after day as consumers continue to look into taking on projects themselves. DIY is now a rallying cry used by those who are ready to learn new skills, save money on projects, or create something new.

Crowdfunding has played a significant role in these projects, which has created many items from many people. Without crowdfunding, many of these innovative items would have never been invented.

Joining the Laser Cutting Movement

As anyone can see, the laser cutting industry is not one that will fade away in the near future. Keep the information here in mind to see what it offers and why joining this movement may be a good idea.