Market Highlights:
Market Research Future (MRFR) in its latest report projects that the global laser tracker market will surpass a USD 520 Mn by 2023. It is also anticipated that the market will post a compound annual growth rate of 12.5% during the review period (2018-2023). Laser tracker finds application is tool building, reverse engineering and setup. Advances in technology has led to the development of innovative 3D measurement tools such as laser tracker that have high accuracy and are versatile.
Laser tracker reduces the challenges faced during manual check carried using tradition hand tools such as plumb bobs, tape measures etc. Laser trackers are guided by a laser beam which allows it to achieve maximum accuracy. Laser tracker are increasingly used owing to their features such as high precision, continuous point measurement capability, small & lightweight, versatile mount, highspeed single point measuring among others. Market players are actively focusing on product innovation and add new capabilities. Emphasis is being placed on making laser trackers more accurate. In addition, introduction of portable variants with coordinate measuring that allows process optimization, faster operation and maximum precision. Market players are making efforts to over technical hurdles such as alignment errors that persist in lase trackers.
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Major Key Players
- Faro (US),
- Hexagon (Sweden), f
- API (US),
- VMT GmbH (Germany),
- On-Trak Photonics Inc. (US),
- SGS (Switzerland),
- Variation Reduction Solutions, Inc. (US),
- Brunson Instrument Company (US),
- Hubbs Machine and Manufacturing Inc. (US),
- PLX Inc. (US).
According to MRFR, The global Laser Tracker Market is expected to reach approximately USD 520 million by 2023 growing at ~12.5% CAGR over the forecast period 2018–2023.
Industry News
• Hexagon’s Manufacturing Intelligence unit recently unveiled a unique laser tracker line – Leica Absolute Tracker ATS600. The product is based on an innovative concept in metrology-grade laser tracker. It is a first of its kind laser tracker line capable of targetless 3D scanning.
• Japanese multinational corporation Mitutoyo recently unveiled its “SpaceTrac Series” of laser tracker. The laser tracker can be used for measuring large-scale components in energy generation, aerospace and construction components.
Regional Analysis:
The regions covered in the report include Asia Pacific (APAC), North America, Europe, Africa, the Middle East and Latin America. Europe spearheads the global laser tracker market. The region is home to number of prominent market players. Moreover, existence of a massive manufacturing sector bodes well for market players operating in the region. The adoption rate of laser tracker in Europe’s automotive manufacturing sector has been impressive. Laser tracker are extremely popular in the automotive sector in particular. France, the UK and Germany are likely to remain the top three important markets for laser tracker in Europe.
The APAC laser tracker market is also expected to exhibit a sound growth during the assessment period. Incessant expansion of the manufacturing sector is propelling the laser tracker market in the region. Asia Pacific is expected to remain a hot spot for investors in the forthcoming years, with sectors such as automotive and aerospace witnessing tremendous growth.
Segmentation:
The segmental analysis of the market has been conducted on the basis of component, function, and vertical.
On the basis of component, the market has been segmented into services, software and hardware. The service segment is further sub-segmented into managed services and professional services. The hardware segment is further sub-segmented into laser tracker controller, laser tracker head, retroreflector, essential accessories and computer system. On the function, the market has been segmented into reverse engineering, automated assembly system, quality control & inspection, tool building and setup and alignment. On the basis of vertical, the market has been segmented into architecture & construction, railways, automotive, shipbuilding, aerospace & defense, energy & power and others.
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Target Audience
- Training and consulting service providers
- Support and Maintenance Service Providers
- Original equipment manufacturers (OEMs)
- ODM and OEM technology solution providers
- Small and large technology centers
- Laser tracker manufacturing companies
- Research institutes and organizations
- Market research and consulting firms
- Government bodies, venture capitalists, and private equity firms
List of Tables
Table 1 Laser Tracker Market: By Region, 2018-2023
Table 2 North America Laser Tracker Market: By Country, 2018-2023
Table 3 Europe Laser Tracker Market: By Country, 2018-2023
Table 4 Asia Pacific Laser Tracker Market: By Country, 2018-2023
Continued……
LIST OF FIGURES
FIGURE 1 Global Laser Tracker Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Laser Tracker Market
FIGURE 4 Value Chain of Global Laser Tracker Market
Continued……
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