Global Laser Tracker Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Laser Tracker Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global laser tracker market report has been segmented on the basis of offering, application, end-use industry, and region.
Global Laser Tracker Market: Overview
The laser tracker is a type of instrument used for measuring three-dimensional features of large objects. It sends a laser beam to the retroreflective target held against the object and reflected ray retraces its path while re-entering the tracker. Laser tracker measures a distance and two angles.
Global Laser Tracker Market: Dynamics
Increasing demand for three-dimensional measurement solutions in various industries such as defense, aerospace, automotive, power generation, etc. is a major factor driving the growth of the global laser tracker market. The laser tracker is portable as it is wireless and battery driven. For optical measurement, laser tracker can be mounted sideways, on the object, and upside down. In addition, it is highly accurate, precise, and capable of continuous measurement. These are some of the factors supporting growth of the global market. Furthermore, growing usage of laser tracker for assembly of large components is a factor expected to support growth of the global laser tracker market in the near future.
However, the availability of other substitutes such as laser radar is a factor that could affect growth of the global laser tracker market. In addition, alignment errors in laser tracker is another factor that may hamper growth of the global market. Nevertheless, growing automotive industry can create high revenue opportunities for players in the target market.
Global Laser Tracker Market: Segment Analysis
Among the application segments, the quality control and inspection segment dominates the global market in terms of revenue and expected to register high growth over the forecast period. Increasing adoption of laser tracker in various sectors such as aviation, automotive, and power generation for quality control as it is portable and compact technology with high accuracy is a factor supporting growth of this segment in the target market.
Among the end use industry segments, the automotive segment is expected to register significant growth in terms of revenue in the near future. Use of laser tracker for inspection and products as well as critical equipment manufacturing in the automotive sector is a factor expected to propel growth of this segment in the global market.
Global Laser Tracker Market: Regional Analysis
Currently, the market in Europe accounts for major share in terms of revenue and is expected to maintain its dominance over the forecast period. Increasing use of laser trackers in processing control for maintenance of safety and quality standards is a key factor driving growth of the target market in this region. In addition, high demand for laser tracker for various application’s in countries such as UK and Germany is another factor expected to boost growth of the target market over the forecast period. The market in Asia Pacific is anticipated to account for second-highest share in terms of revenue and register high growth in the near future, followed by North America. Growing aerospace and automotive sector in countries in the Asia Pacific region is a factor fueling growth of the laser tracker market.
Global Laser Tracker Market Segmentation:
Segmentation by Offering:
Segmentation by Application:
- Quality Control and Inspection
- Reverse Engineering
Segmentation by End-Use Industry:
- Defense and Aerospace
- Architecture and Construction
- Energy and Power
- General Manufacturing
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Hexagon AB
- SGS S.A.
- Automated Precision Inc.
- VMT GmbH
- Variation Reduction Solutions, Inc.
- On-Trak Photonics Inc.
- Hubbs Machine & Manufacturing Inc.
- Brunson Instrument Company
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