Laser engraving was once considered exclusively an industrial application used by manufacturers. Today, laser engraving is becoming popular among small business owners, making it a growth industry in small, medium, and large companies for a variety of applications and purposes.
Why the interest from small businesses?
The cost of laser engraving machines has dropped over the years and the evolution of this equipment has reduced them in size so that even home businesses can buy and use them. The small investment in laser engraving equipment is one of the most appealing factors to small business owners. Some businesses are even using this as a side business to boost their revenue and/or to add a new revenue stream to their already established business.
The growth of laser engraving
Consumer demand for personalized items like tablets, smartphones, metal, wood, and other items is driving the growth of this industry. Besides individual custom items, the growth for promotional items like signage and plaques continues to soar.
Predictions for continued growth in the coming five years are excellent. Thanks to the accessibility and affordability of laser engraving machines, small businesses will want a piece of the action.
8 factors that contribute to laser engraving
There are eight main factors that contribute to the rise in laser engraving:
- Increased focus on personalization – Looking at online e-commerce sites like Etsy proves that laser engraving is a growth industry. Personalizing wedding gifts/items, smartphones, purses, pens, tools, golf balls and tees, dog collars, glasses, and other items are seen on the site and within the small businesses in various communities across the globe.
- Better accessibility to engraving machines–With the smaller machines, laser engraving machines aren’t exclusive to manufacturers anymore.
- Maker movement – There is a rise in makers with consumers wanting to buy more personalized and unique gifts and items. Do-it-yourself, creative types are learning new skills and making products to meet this demand.
- Growth of industrial applications–Small business isn’t the only sector driving the rise in laser engraving. Industrial applications are also growing to meet the needs for handling credit cards, sensitive/security documents, and ID cards that require increased safety and security measures. The permanence of laser engraving meets the tamper-proof and other industry standards and regulations for secure items.
- Branding – Branding isn’t just an avenue for providing businesses with a bigger presence, it’s also an effective and covert way to deter theft of assets. Laser engraving on corporate items helps to deter theft in the workplace because the risk of getting caught is higher. Laser engraving equipment easily puts a permanent brand on items with barcodes, serial numbers, and other brands for tracking and recording.
- Affordability– Laser cutting/engraving machines are more popular due to the lower investment and stable market. Starting at below $8,000, it’s easy to start a low-cost business.
- New accessories–Lasers that cut and engrave now have several attachments and accessories for creating more objects and for making laser engraving more suitable for more applications. Optical lenses, air compressors, photo processing software, and rotary attachments are just a few of the new accessories.
- New markets–Future expansion of laser engraving markets is inevitable. Sectors such as woodworking, retail and digital signage, metalworking, gadgets, sports equipment, apparel, model-making, and other markets are part of this expansion.
There is no sign of the laser engraving industry slowing down any time soon. It’s a wise and affordable investment that will continue to provide multiple streams of revenue for small businesses and manufacturers for many years.