Global Laser Tracker Market Size Study & Forecast, By Offering By Application By Industry and Regional Analysis, 2023-2030

Description

List of Tables

Global Laser Tracker Market is valued at approximately USD 642.02 million in 2022 and is anticipated to grow with a healthy growth rate of more than 6.4% over the forecast period 2023-2030. Laser Tracker is a high-precision measuring instrument used for determining the 3D coordinates of objects in various industries such as manufacturing, aerospace, automotive, construction, and more. It employs laser technology to accurately track the position of a target or probe relative to the tracker's position. Laser trackers typically consist of a portable measurement unit mounted on a tripod, which emits a laser beam toward a retroreflective target placed on the object being measured. The Laser Tracker market is expanding because of factors such as rising demand for industrial automation and increasing production of electric vehicles. Laser Tracker is widely used for dimensional inspection, alignment, assembly verification, and quality control in industrial settings. As a result, the demand for Laser Tracker has progressively increased in the global market during the forecast period 2023-2030.

Laser trackers can provide real-time feedback to automated systems, allowing for immediate adjustments based on measurement data. This feedback loop enables automated processes to self-correct and maintain quality standards without human intervention, leading to increased efficiency and productivity. According to Statista, the global market for industrial automation is projected to reach more than USD 368 billion by the year 2025. Furthermore, automated manufacturing processes require precision to ensure product quality and consistency. Laser trackers provide high-accuracy measurements, allowing automated systems to maintain tight tolerances and ensure that components are manufactured to exact specifications. Another important factor that drives the Laser Tracker market is the increasing production of electric vehicles to cater to the demand for sustainable and clean energy options in the automobile industry. Laser trackers help optimize assembly processes by streamlining workflows, reducing rework, and minimizing production downtime. By ensuring precise alignment and fitment of components, laser trackers contribute to the efficient operation of assembly lines, ultimately increasing production output. In addition, as per Statista, in the total number of electric bus registrations, in 2021 China accounts for 50,000 registrations followed by Europe with 4000 registrations and reached up to 54000 and 5000 registrations respectively in the year 2022. Moreover, the rising number of research and development activities based on 3D measurement techniques and the increasing development of portable and handheld laser trackers are anticipated to create a lucrative growth opportunity for the market over the forecast period. However, the high cost of laser tracker technology and technical complexities associated with laser tracker are going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Laser Tracker Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the industrial automation in the region. Laser trackers streamline the measurement process by rapidly capturing 3D data compared to traditional methods. This efficiency translates into time savings during inspection, alignment, and assembly tasks, thereby increasing overall productivity. The region's dominant performance is anticipated to propel the overall demand for Laser Tracker. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as growing demand for three-dimensional measurement solutions automotive manufacturing in the region. Automotive manufacturing requires high precision and accuracy in the production of components and assemblies to meet quality standards. Laser trackers offer sub-millimeter accuracy and can precisely measure complex surfaces and geometries, ensuring that automotive parts meet tight tolerances.

Major market player included in this report are:

Hexagon AB
InnovMetric Software Inc.
Mitutoyo Corporation
3D Systems, Inc.
VMT GmbH
mit beschrankter Haftung
Faro Technologies, Inc.
Automated Precision Inc.
Hubbs Machine and Manufacturing Inc.
PLX Inc.

Recent Developments in the Market:

In June 2022, Hexagon's Manufacturing Intelligence division released the Leica Absolute Tracker AT500 and accompanying B-Probesupplus, the company's most recent 3D laser tracking system. The new AT500 platform, which succeeds the extremely successful AT400 series, has better performance in both reflector and probing measurement, as well as a new battery-powered integrated controller architecture, full IP54 environmental protection, and an expanded operational temperature range. The AT500 is a portable and rugged laser tracker. Several factors contribute to incredibly fast setup times, including the system's built-in controller unit, which is a first for an Absolute Tracker. This new design represents a significant improvement in portability, with cabling reduced to a plug-and-play concept.

Global Laser Tracker Market Report Scope:

Historical Data - 2020 - 2021
Base Year for Estimation - 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Offering, Application, Industry, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent to up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Offering

Hardware
Software
Service

By Application

Quality Control and Inspection
Alignment
Reverse Engineering
Calibration

by Industry

Automotive
Aerospace and Defense
Energy and Power
General Manufacturing
Architecture and Construction
Transportation
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1.Executive Summary

1.1.Market Snapshot
1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
- 1.2.1.Laser Tracker Market, by Region, 2020-2030 (USD Million)
- 1.2.2.Laser Tracker Market, by Offering, 2020-2030 (USD Million)
- 1.2.3.Laser Tracker Market, by Application, 2020-2030 (USD Million)
- 1.2.4.Laser Tracker Market, by Industry, 2020-2030 (USD Million)
1.3.Key Trends
1.4.Estimation Methodology
1.5.Research Assumption

Chapter 2.Global Laser Tracker Market Definition and Scope

2.1.Objective of the Study
2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
2.3.Years Considered for the Study
2.4.Currency Conversion Rates

Chapter 3.Global Laser Tracker Market Dynamics

3.1.Laser Tracker Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
  - 3.1.1.1.Rising industrial automation
  - 3.1.1.2.Increasing production of electric vehicles
- 3.1.2.Market Challenges
  - 3.1.2.1.High cost of laser tracker technology
  - 3.1.2.2.Technical complexities associated with laser tracker
- 3.1.3.Market Opportunities
  - 3.1.3.1.Rising number of research and development activities based on 3D measurement techniques.
  - 3.1.3.2.Development of portable and handheld laser trackers

Chapter 4.Global Laser Tracker Market Industry Analysis

4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
4.2.Porter's 5 Force Impact Analysis
4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
4.4.Top investment opportunity
4.5.Top winning strategies
4.6.COVID-19 Impact Analysis
4.7.Disruptive Trends
4.8.Industry Expert Perspective
4.9.Analyst Recommendation & Conclusion

Chapter 5.Global Laser Tracker Market, by Offering

5.1.Market Snapshot
5.2.Global Laser Tracker Market by Offering, Performance - Potential Analysis
5.3.Global Laser Tracker Market Estimates & Forecasts by Offering 2020-2030 (USD Million)
5.4.Laser Tracker Market, Sub Segment Analysis
- 5.4.1.Hardware
- 5.4.2.Software
- 5.4.3.Service

Chapter 6.Global Laser Tracker Market, by Application

6.1.Market Snapshot
6.2.Global Laser Tracker Market by Application, Performance - Potential Analysis
6.3.Global Laser Tracker Market Estimates & Forecasts by Application 2020-2030 (USD Million)
6.4.Laser Tracker Market, Sub Segment Analysis
- 6.4.1.Quality Control and Inspection
- 6.4.2.Alignment
- 6.4.3.Reverse Engineering
- 6.4.4.Calibration

Chapter 7.Global Laser Tracker Market, by Industry

7.1.Market Snapshot
7.2.Global Laser Tracker Market by Industry, Performance - Potential Analysis
7.3.Global Laser Tracker Market Estimates & Forecasts by Industry 2020-2030 (USD Million)
7.4.Laser Tracker Market, Sub Segment Analysis
- 7.4.1.Automotive
- 7.4.2.Aerospace and Defense
- 7.4.3.Energy and Power
- 7.4.4.General Manufacturing
- 7.4.5.Architecture and Construction
- 7.4.6.Transportation
- 7.4.7.Others

Chapter 8.Global Laser Tracker Market, Regional Analysis

8.1.Top Leading Countries
8.2.Top Emerging Countries
8.3.Laser Tracker Market, Regional Market Snapshot
8.4.North America Laser Tracker Market
- 8.4.1.U.S. Laser Tracker Market
  - 8.4.1.1.Offering breakdown estimates & forecasts, 2020-2030
  - 8.4.1.2.Application breakdown estimates & forecasts, 2020-2030
  - 8.4.1.3.Industry breakdown estimates & forecasts, 2020-2030
- 8.4.2.Canada Laser Tracker Market
8.5.Europe Laser Tracker Market Snapshot
- 8.5.1.U.K. Laser Tracker Market
- 8.5.2.Germany Laser Tracker Market
- 8.5.3.France Laser Tracker Market
- 8.5.4.Spain Laser Tracker Market
- 8.5.5.Italy Laser Tracker Market
- 8.5.6.Rest of Europe Laser Tracker Market
8.6.Asia-Pacific Laser Tracker Market Snapshot
- 8.6.1.China Laser Tracker Market
- 8.6.2.India Laser Tracker Market
- 8.6.3.Japan Laser Tracker Market
- 8.6.4.Australia Laser Tracker Market
- 8.6.5.South Korea Laser Tracker Market
- 8.6.6.Rest of Asia Pacific Laser Tracker Market
8.7.Latin America Laser Tracker Market Snapshot
- 8.7.1.Brazil Laser Tracker Market
- 8.7.2.Mexico Laser Tracker Market
8.8.Middle East & Africa Laser Tracker Market
- 8.8.1.Saudi Arabia Laser Tracker Market
- 8.8.2.South Africa Laser Tracker Market
- 8.8.3.Rest of Middle East & Africa Laser Tracker Market

Chapter 9.Competitive Intelligence

9.1.Key Company SWOT Analysis
9.2.Top Market Strategies
9.3.Company Profiles
- 9.3.1.Hexagon AB
  - 9.3.1.1.Key Information
  - 9.3.1.2.Overview
  - 9.3.1.3.Financial (Subject to Data Availability)
  - 9.3.1.4.Product Summary
  - 9.3.1.5.Recent Developments
- 9.3.2.InnovMetric Software Inc
- 9.3.3.Mitutoyo Corporation
- 9.3.4.3D Systems, Inc
- 9.3.5.VMT GmbH
- 9.3.6.mit beschrankter Haftung
- 9.3.7.Faro Technologies, Inc
- 9.3.8.Automated Precision Inc
- 9.3.9.Hubbs Machine and Manufacturing Inc
- 9.3.10.PLX Inc

Chapter 10.Research Process

10.1.Research Process
- 10.1.1.Data Mining
- 10.1.2.Analysis
- 10.1.3.Market Estimation
- 10.1.4.Validation
- 10.1.5.Publishing
10.2.Research Attributes
10.3.Research Assumption

LIST OF TABLES

TABLE 1.Global Laser Tracker Market, report scope
TABLE 2.Global Laser Tracker Market estimates & forecasts by Region 2020-2030 (USD Million)
TABLE 3.Global Laser Tracker Market estimates & forecasts by Offering 2020-2030 (USD Million)
TABLE 4.Global Laser Tracker Market estimates & forecasts by Application 2020-2030 (USD Million)
TABLE 5.Global Laser Tracker Market estimates & forecasts by Industry 2020-2030 (USD Million)
TABLE 6.Global Laser Tracker Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 7.Global Laser Tracker Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 8.Global Laser Tracker Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 9.Global Laser Tracker Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 10.Global Laser Tracker Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 11.Global Laser Tracker Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 12.Global Laser Tracker Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 13.Global Laser Tracker Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 14.Global Laser Tracker Market by segment, estimates & forecasts, 2020-2030 (USD Million)
TABLE 15.Global Laser Tracker Market by region, estimates & forecasts, 2020-2030 (USD Million)
TABLE 16.U.S. Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 17.U.S. Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 18.U.S. Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 19.Canada Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 20.Canada Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 21.Canada Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 22.UK Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 23.UK Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 24.UK Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 25.Germany Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 26.Germany Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 27.Germany Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 28.France Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 29.France Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 30.France Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 31.Italy Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 32.Italy Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 33.Italy Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 34.Spain Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 35.Spain Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 36.Spain Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 37.RoE Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 38.RoE Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 39.RoE Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 40.China Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 41.China Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 42.China Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 43.India Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 44.India Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 45.India Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 46.Japan Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 47.Japan Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 48.Japan Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 49.South Korea Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 50.South Korea Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 51.South Korea Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 52.Australia Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 53.Australia Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 54.Australia Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 55.RoAPAC Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 56.RoAPAC Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 57.RoAPAC Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 58.Brazil Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 59.Brazil Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 60.Brazil Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 61.Mexico Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 62.Mexico Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 63.Mexico Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 64.RoLA Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 65.RoLA Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 66.RoLA Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 67.Saudi Arabia Laser Tracker Market estimates & forecasts, 2020-2030 (USD Million)
TABLE 68.South Africa Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 69.RoMEA Laser Tracker Market estimates & forecasts by segment 2020-2030 (USD Million)
TABLE 70.List of secondary sources, used in the study of global Laser Tracker Market
TABLE 71.List of primary sources, used in the study of global Laser Tracker Market
TABLE 72.Years considered for the study
TABLE 73.Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1.Global Laser Tracker Market, research methodology
FIG 2.Global Laser Tracker Market, Market estimation techniques
FIG 3.Global Market size estimates & forecast methods
FIG 4.Global Laser Tracker Market, key trends 2022
FIG 5.Global Laser Tracker Market, growth prospects 2023-2030
FIG 6.Global Laser Tracker Market, porters 5 force model
FIG 7.Global Laser Tracker Market, pest analysis
FIG 8.Global Laser Tracker Market, value chain analysis
FIG 9.Global Laser Tracker Market by segment, 2020 & 2030 (USD Million)
FIG 10.Global Laser Tracker Market by segment, 2020 & 2030 (USD Million)
FIG 11.Global Laser Tracker Market by segment, 2020 & 2030 (USD Million)
FIG 12.Global Laser Tracker Market by segment, 2020 & 2030 (USD Million)
FIG 13.Global Laser Tracker Market by segment, 2020 & 2030 (USD Million)
FIG 14.Global Laser Tracker Market, regional snapshot 2020 & 2030
FIG 15.North America Laser Tracker Market 2020 & 2030 (USD Million)
FIG 16.Europe Laser Tracker Market 2020 & 2030 (USD Million)
FIG 17.Asia Pacific Laser Tracker Market 2020 & 2030 (USD Million)
FIG 18.Latin America Laser Tracker Market 2020 & 2030 (USD Million)
FIG 19.Middle East & Africa Laser Tracker Market 2020 & 2030 (USD Million)