Global Laser Tracker Market, By Component (Hardware, Software, Services), Application (Quality Control and Inspection, Alignment, Reverse Engineering, Calibration), Industry (Automotive, Aerospace and Defence, Energy and Power, General Manufacturing, Architecture and Construction, Transportation, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Laser Tracker Market
Laser tracker market is expected to reach USD 911.58 million by 2028 witnessing market growth at a rate of 12.10% in the forecast period of 2021 to 2028. Data Bridge Market Research report on laser tracker market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
The laser tracker is an instrument which, by determining the optical target positions, accurately measures a large object. Different instruments for measuring and inspecting components, products, and environments are available. Laser trackers are commonly used in an effort to calculate objects instead of physical control fixtures and conventional hand instruments. By tracking a laser beam, a laser tracker calculates 3-D coordinates, which provides a quick and precise measurement of an object that can be moved anywhere within the base unit's line of sight.
The growing number of advancements in distance measurement technology and improvements in processing speed, rising usages of product as it offer high accuracy, precision, and portability, automation of robotic systems, increasing demand for three-dimensional measurement solutions in various industries such as defence, aerospace, automotive, power generation, growing usage of laser tracker for assembly of large components are some of the major as well as vital factors which will likely to augment the growth of the laser tracker market in the projected timeframe of 2021-2028. On the other hand, increasing number of automotive and aviation manufacturers along with growing demand for research and development activities in 3D measurement technique which will further contribute by generating massive opportunities that will lead to the growth of the laser tracker market in the above mentioned projected timeframe.
Availability of substitutes for inspection along with addressing alignment errors which will likely to act as market restraints factor for the growth of the laser tracker in the above mentioned projected timeframe.
This laser tracker market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on laser tracker market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Laser Tracker Market Scope and Market Size
Laser tracker market is segmented on the basis of component, application and industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Laser tracker market on the basis of component has been segmented as hardware, software, and services. Hardware has been further segmented into laser tracker head, laser tracker controller, retroreflector, computer system, and essential accessories. Retroreflector has been further sub segmented into spherically-mounted retroreflector (SMR), and ball-mounted hollow retroreflector (BMR). Ball-mounted hollow retroreflector (BMR) has been further bifurcated into stainless steel, ceramic, and durable. Essential accessories has been further sub segmented into sensor cables; stands, tripods, and interfaces; power supply units, power cables, and battery chargers and sets; and others. Services have been further segmented into installation and training, and rental.
- On the basis of application, the laser tracker market has been segmented into quality control and inspection, alignment, reverse engineering, and calibration.
- Laser tracker has also been segmented on the basis of industry into automotive, aerospace and defence, energy and power, general manufacturing, architecture and construction, transportation, and others.
Laser Tracker Market Country Level Analysis
Laser tracker market is analysed and market size, volume information is provided by country, component, application and industry as referenced above.
The countries covered in the laser tracker market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe will dominate the laser tracker market due to the increasing use of laser trackers in processing control for maintenance of safety and quality standards while Asia-Pacific region will expect to grow in the laser tracker market during the forecast period of 2021-2028 due to the increasing growth of the aerospace and automotive sector along with rising usages of product in various application such as reverse engineering, tool building and setup in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Laser Tracker Market Share Analysis
Laser tracker market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to laser tracker market.
The major players covered in the laser tracker market report are Hexagon AB; FARO Technologies, Inc.; Automated Precision, Inc (API); SGS SA; VMT GmbH; On-Trak Photonics, Inc.; Variation Reduction Solutions, Inc.; Brunson Instrument Company; Hubbs Machine & Manufacturing Inc; PLX Inc.; Verisurf Software, Inc.; OASIS Alignment Services, LLC.; Nebula3D Services Private Limited; Mactech On-Site Solutions.; East Coast Metrology, LLC; Advanced Dimensional Solutions Pty Ltd.; Hiwe SqS; Diverse Dimensions; OR3D Ltd.; Novamechanical Design Ltd; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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