Laser Tracker Market
Laser Tracker Market Size, Share & Trends Analysis Report by Offering (Hardware and Software & Services), by Application (Quality Control and Inspection, Alignment, and Reverse Engineering), and by Industry (Automotive & Transportation, Aerospace and Defense, Energy and Power, Manufacturing, Building and Construction, and Others) Forecast Period (2022-2028)
Laser tracker market is anticipated to grow at a significant CAGR of 11.9% during the forecast period. A laser tracker is a portable coordinate measurement machine that uses a laser beam to accurately measure and inspect the features of an object in 3D space. Laser trackers provide high precision, accuracy, continuous point measuring, and ultrafast single-point measuring. Thus growing advancements in distance measurement technology, and growing implementation of laser-based technology are primary factors driving the global laser tracker market. In addition, the launching of new products and solutions, and the growing investment in laser tracker technology are anticipated to fuel the demand for laser trackers in the market for the forecast period. For instance, in June 2022, Hexagon’s Manufacturing Intelligence division launched a Leica Absolute Tracker AT500 and accompanying B-Probeplus, the company’s latest portable 3D laser tracker system. The AT500 offers improved performance to both reflector and probing measurement and is powered by a new integrated controller design, full IP54-rated environmental protection, and an expanded operating temperature range.
Segmental Outlook
The global laser tracker market is segmented based on the offering, application, and industry. Based on the offering, the market is segmented into hardware and software & services. Based on the application, the market is sub-segmented into quality control and inspection, alignment, and reverse engineering. Based on the industry, the market is sub-segmented into automotive & transportation, aerospace and defense, energy and power, manufacturing, building and construction, and others.
Among the industry segment, the automotive & transportation sub-segment is anticipated to hold a prominent share in the market. Automotive designs often require highly complex parts assemblies therefore any initiative to simplify assembly is highly adopted by the industry’s key players. The transformation of automotive industries from gasoline-based vehicles to cleaner fuels and the continuous rolling out of new models of vehicles requiring complex parts assemblies with high precision, and accuracy are some of the primary factors for the growth of the segment.
Regional Outlooks
The global laser tracker market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). Among all regions, the Asia-Pacific region is anticipated to register significant growth in market share during the forecast period. The regional growth is primarily attributed due to the presence of manufacturing capabilities of electronic products across the countries including China, Japan, India, and others.
Global Laser Tracker Market Growth, by Region 2022-2028
The European Region is anticipated to Hold a Prominent Share in the Global Laser Tracker Market
Europe is expected to hold a prominent share in the global laser tracker market across the globe. The regional growth is attributed due to the strong existence of large automotive manufacturers in countries such as Germany, the UK, and others. The automotive industry requires laser technology for manufacturing complex body designs and parts of the products. Thus, key automotive players are increasingly adopting laser technology to enhance their existing manufacturing capabilities of vehicles. For instance, in August 2022, Audi AG Aktiengesellschaft (Audi) launched a new automotive lighting technology named MATRIC Laser headlight. Additionally, the growing adoption of laser technologies in other sectors such as defense, manufacturing, and others is anticipated to fuel the demand for laser trackers in the region.
Market Players Outlook
The major companies serving the global laser tracker market include FARO Technologies, Inc., Automated Precision, Inc., SGS Group, VMT GmbH, Chotest Technology Inc., Hubbs Machine and Manufacturing Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in September 2021, Hexagon AB expanded its procurement, fabrication, and construction market with the acquisition of Jovix, which is a business of Atlas RFID Solutions that automate material management throughout the construction supply chain.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global laser tracker market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Laser Tracker Market by Offering
4.1.1. Hardware
4.1.2. Software & Services
4.2. Global Laser Tracker Market by Application
4.2.1. Quality Control and Inspection
4.2.2. Alignment
4.2.3. Reverse Engineering
4.3. Global Laser Tracker Market by Industry
4.3.1. Automotive & Transportation
4.3.2. Aerospace and Defense
4.3.3. Energy and Power
4.3.4. Manufacturing
4.3.5. Building and Construction
4.3.6. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. FARO Technologies, Inc.
6.2. Automated Precision, Inc.
6.3. SGS Group
6.4. Hubbs Machine and Manufacturing Inc.
6.5. Mitutoyo America Corp.
6.6. VMT GmbH
6.7. Chotest Technology Inc.
6.8. InnovMetric Software Inc
6.9. On-Trak Photonics Inc.
6.10. Brunson Instrument Co.
6.11. Nikon Metrology Inc.
6.12. PLX Inc.
6.13. Variation Reduction Solutions, Inc.
1. GLOBAL LASER TRACKER MARKET RESEARCH AND ANALYSIS BY OFFERING, 2021-2028 ($ MILLION)
2. GLOBAL HARDWARE FOR LASER TRACKER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL SOFTWARE & SERVICES FOR LASER TRACKER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL LASER TRACKER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
5. GLOBAL LASER TRACKER FOR QUALITY CONTROL AND INSPECTION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL LASER TRACKER FOR ALIGNMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL LASER TRACKER FOR REVERSE ENGINEERING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL LASER TRACKER MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
9. GLOBAL LASER TRACKER FOR AUTOMOTIVE & TRANSPORTATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL LASER TRACKER FOR AEROSPACE AND DEFENSE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL LASER TRACKER FOR ENERGY AND POWER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
12. GLOBAL LASER TRACKER FOR MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL LASER TRACKER FOR BUILDING AND CONSTRUCTION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL LASER TRACKER FOR OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL LASER TRACKER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. NORTH AMERICAN LASER TRACKER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. NORTH AMERICAN LASER TRACKER MARKET RESEARCH AND ANALYSIS BY OFFERING, 2021-2028 ($ MILLION)
18. NORTH AMERICAN LASER TRACKER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
19. NORTH AMERICAN LASER TRACKER MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
20. EUROPEAN LASER TRACKER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. EUROPEAN LASER TRACKER MARKET RESEARCH AND ANALYSIS BY OFFERING, 2021-2028 ($ MILLION)
22. EUROPEAN LASER TRACKER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
23. EUROPEAN LASER TRACKER MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
24. ASIA-PACIFIC LASER TRACKER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC LASER TRACKER MARKET RESEARCH AND ANALYSIS BY OFFERING, 2021-2028 ($ MILLION)
26. ASIA-PACIFIC LASER TRACKER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
27. ASIA-PACIFIC LASER TRACKER MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
28. REST OF THE WORLD LASER TRACKER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29. REST OF THE WORLD LASER TRACKER MARKET RESEARCH AND ANALYSIS BY OFFERING, 2021-2028 ($ MILLION)
30. REST OF THE WORLD LASER TRACKER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2021-2028 ($ MILLION)
31. REST OF THE WORLD LASER TRACKER MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
1. GLOBAL LASER TRACKER MARKET SHARE BY OFFERING, 2021 VS 2028 (%)
2. GLOBAL HARDWARE FOR LASER TRACKER MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL SOFTWARE & SERVICES FOR LASER TRACKER MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL LASER TRACKER MARKET SHARE BY APPLICATION, 2021 VS 2028 (%)
5. GLOBAL LASER TRACKER FOR QUALITY CONTROL AND INSPECTION MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL LASER TRACKER FOR ALIGNMENT MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL LASER TRACKER FOR REVERSE ENGINEERING MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL LASER TRACKER MARKET SHARE BY INDUSTRY, 2021 VS 2028 (%)
9. GLOBAL LASER TRACKER FOR AUTOMOTIVE MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL LASER TRACKER FOR AEROSPACE AND DEFENSE MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL LASER TRACKER FOR ENERGY AND POWER MARKET SHARE BY REGION, 2021 VS 2028 (%)
12. GLOBAL LASER TRACKER FOR GENERAL MANUFACTURING MARKET SHARE BY REGION, 2021 VS 2028 (%)
13. GLOBAL LASER TRACKER FOR ARCHITECTURE AND CONSTRUCTION MARKET SHARE BY REGION, 2021 VS 2028 (%)
14. GLOBAL FOR TRANSPORTATION LASER TRACKER MARKET SHARE BY REGION, 2021 VS 2028 (%)
15. GLOBAL LASER TRACKER FOR OTHERS MARKET SHARE BY REGION, 2021 VS 2028 (%)
16. GLOBAL LASER TRACKER MARKET SHARE BY REGION, 2021 VS 2028 (%)
17. US LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
18. CANADA LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
19. UK LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
20. FRANCE LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
21. GERMANY LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
22. ITALY LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
23. SPAIN LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF EUROPE LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
25. INDIA LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
26. CHINA LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
27. JAPAN LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
28. SOUTH KOREA LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
29. REST OF ASIA-PACIFIC LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
30. REST OF THE WORLD LASER TRACKER MARKET SIZE, 2021-2028 ($ MILLION)
