Market Overview:
The global laser tracker market is expected to grow at a CAGR of 5.8% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for laser trackers in various applications such as automotive, aerospace & defense, general manufacturing, and energy & power. Additionally, the growing demand for 3D scanning and inspection services is also contributing to the growth of this market. However, factors such as high cost of laser trackers and lack of awareness about these devices are restraining its growth.
Product Definition:
Laser Tracker is a device that is used to measure the position and orientation of an object relative to a fixed reference point. It is important because it can be used for precision measurement and alignment tasks in manufacturing and construction.
Hardware Devices:
Hardware devices are the components that are used to build a device or system and they fall under the category of tangible assets. Hardware devices include computers, laptops, tablets, smartphones and other smart devices. The growth factor in this market is increasing demand for hardware tracking solutions from various industries such as automotive & transportation, manufacturing sector among others due to rise in GPS enabled vehicles thefts and losses.
Software:
Software is the set of instructions which controls and monitors the functions of a computer system. In other words, it is used to communicate with hardware or to perform desired tasks by using a computer. It comprises input/output devices such as display screens, keyboards, and storage devices like hard disk drives etc.
Software helps in performing various functions such as data processing & analysis, simulation & modeling and controlling the laser tracker system through different operating systems (OS).
Application Insights:
The energy and power segment dominated the global laser tracker market in terms of revenue share in 2017. The growth can be attributed to increasing demand for renewable sources of energy such as solar and wind. Laser trackers are used for a variety of applications, including tracking and identifying moving targets, aiming weapons systems, measuring distances between objects or locations on the earth's surface, scanning large areas for agriculture purposes etc. General manufacturing is expected to emerge as the fastest-growing application segment over the forecast period owing to rising demand from various end-use industries such as automotive/transportation equipment industry etc.
Automotive was another prominent segment accounting for a significant share in 2017 due to high adoption rate across several vehicle manufacturers globally coupled with technological advancements made by them over recent years regarding infotainment system integration using lasers is responsible for driving this growth factor positively.
Regional Analysis:
Asia Pacific regional market accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, and Japan. These countries are experiencing strong economic growth owing to rapid industrialization and urbanization. Furthermore, these nations have extensive resources of natural gas that are used for manufacturing semiconductor devices as well as metal-cutting machines used in various industries such as aerospace & defense and general manufacturing. Thus, Asia Pacific laser tracker market has a high potential for growth over the coming years due to increasing demand from end-use industries across these developing countries.
North America regional market also held a significant revenue share in 2017 owing to growing investments by major players towards research & development activities aimed at introducing advanced products with enhanced features at competitive prices within this region so that they can gain maximum customer penetration throughout this region along with export markets worldwide (i.e., Europe).
Growth Factors:
- Increasing demand for laser trackers in the automotive and aerospace industries due to the accuracy and precision offered by these devices.
- Growing popularity of laser trackers for 3D scanning and reverse engineering applications.
- Rising demand from small- and medium-sized businesses (SMBs) for affordable laser tracking solutions.
- Proliferation of portable laser trackers that can be used in field applications.
Scope Of The Report
Report Attributes
Report Details
Report Title
Laser Tracker Market Research Report
By Type
Hardware Devices, Software, Service
By Application
Automotive, Aerospace & Defense, General Manufacturing, Energy & Power
By Companies
HEXAGON, FARO, API, SGS, VMT, ON-TRAK PHOTONICS, VARIATION REDUCTION SOLUTIONS, BRUNSON, HUBBS, PLX, VERISURF, OASIS ALIGNMENT SERVICES
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Laser Tracker Market Report Segments:
The global Laser Tracker market is segmented on the basis of:
Types
Hardware Devices, Software, Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Aerospace & Defense, General Manufacturing, Energy & Power
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- HEXAGON
- FARO
- API
- SGS
- VMT
- ON-TRAK PHOTONICS
- VARIATION REDUCTION SOLUTIONS
- BRUNSON
- HUBBS
- PLX
- VERISURF
- OASIS ALIGNMENT SERVICES
Highlights of The Laser Tracker Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Hardware Devices
- Software
- Service
- By Application:
- Automotive
- Aerospace & Defense
- General Manufacturing
- Energy & Power
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Laser Tracker Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A laser tracker is a device that uses lasers to track the movement of objects.
Some of the major players in the laser tracker market are HEXAGON, FARO, API, SGS, VMT, ON-TRAK PHOTONICS, VARIATION REDUCTION SOLUTIONS, BRUNSON, HUBBS, PLX, VERISURF, OASIS ALIGNMENT SERVICES.
The laser tracker market is expected to grow at a compound annual growth rate of 5.8%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Laser Tracker Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Laser Tracker Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Laser Tracker Market - Supply Chain
4.5. Global Laser Tracker Market Forecast
4.5.1. Laser Tracker Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Laser Tracker Market Size (000 Units) and Y-o-Y Growth
4.5.3. Laser Tracker Market Absolute $ Opportunity
5. Global Laser Tracker Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Laser Tracker Market Size and Volume Forecast by Type
5.3.1. Hardware Devices
5.3.2. Software
5.3.3. Service
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Laser Tracker Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Laser Tracker Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Aerospace & Defense
6.3.3. General Manufacturing
6.3.4. Energy & Power
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Laser Tracker Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Laser Tracker Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Laser Tracker Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Laser Tracker Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Laser Tracker Demand Share Forecast, 2019-2029
9. North America Laser Tracker Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Laser Tracker Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Laser Tracker Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Aerospace & Defense
9.4.3. General Manufacturing
9.4.4. Energy & Power
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Laser Tracker Market Size and Volume Forecast by Type
9.7.1. Hardware Devices
9.7.2. Software
9.7.3. Service
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Laser Tracker Demand Share Forecast, 2019-2029
10. Latin America Laser Tracker Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Laser Tracker Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Laser Tracker Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Aerospace & Defense
10.4.3. General Manufacturing
10.4.4. Energy & Power
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Laser Tracker Market Size and Volume Forecast by Type
10.7.1. Hardware Devices
10.7.2. Software
10.7.3. Service
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Laser Tracker Demand Share Forecast, 2019-2029
11. Europe Laser Tracker Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Laser Tracker Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Laser Tracker Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Aerospace & Defense
11.4.3. General Manufacturing
11.4.4. Energy & Power
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Laser Tracker Market Size and Volume Forecast by Type
11.7.1. Hardware Devices
11.7.2. Software
11.7.3. Service
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections b Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Laser Tracker Demand Share, 2019-2029
12. Asia Pacific Laser Tracker Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Laser Tracker Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Laser Tracker Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Aerospace & Defense
12.4.3. General Manufacturing
12.4.4. Energy & Power
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Laser Tracker Market Size and Volume Forecast by Type
12.7.1. Hardware Devices
12.7.2. Software
12.7.3. Service
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Laser Tracker Demand Share, 2019-2029
13. Middle East & Africa Laser Tracker Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Laser Tracker Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Laser Tracker Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Aerospace & Defense
13.4.3. General Manufacturing
13.4.4. Energy & Power
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Laser Tracker Market Size and Volume Forecast by Type
13.7.1. Hardware Devices
13.7.2. Software
13.7.3. Service
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Laser Tracker Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Laser Tracker Market: Market Share Analysis
14.2. Laser Tracker Distributors and Customers
14.3. Laser Tracker Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. HEXAGON
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. FARO
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. API
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. SGS
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. VMT
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. ON-TRAK PHOTONICS
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. VARIATION REDUCTION SOLUTIONS
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. BRUNSON
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. HUBBS
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. PLX
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. VERISURF
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. OASIS ALIGNMENT SERVICES
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook