One of the things I liked about the business is its diversity. I mentioned a couple of applications welding, cutting, there are more esoteric applications out there, for example, 3-D prototyping. We sell product into the microelectronics industry for marketing and graving and newer applications, for example, people doing research into using lasers to drill oil and gas wells. So, on top of the applications, there you have tremendous geographic diversity as well with sales spread around the world in Asia, Europe and North America.The following slides really look a bit more the existing laser markets and fiber share and how that has changed over the last four years. So, the laser source market itself has grown from about $3.4 billion to $3.8 billion and fiber share has gone from just under $200 million of about – to about $600 million in 2011. The average growth rate over that period above 31%.
IPG Photonics' Management Presents At Barclays Capital Global Technology, Media And Telecommunications Conference (Transcript)
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