Laser Tracker Market Report: Trends, Forecast and Competitive Analysis to 2030

Laser Tracker Trends and Forecast

The future of the global laser tracker market looks promising with opportunities in the automotive, aerospace and defense, energy and power, general manufacturing, architecture and construction, and transportation markets. The global laser tracker market is expected to reach an estimated $867 million by 2030 with a CAGR of 6.5% from 2024 to 2030. The major drivers for this market are increasing demand for high-precision measurements in various industries, growing adoption of industry 4.0 and smart manufacturing, and technological advancements in laser tracker technology.

A more than 150-page report is developed to help in your business decisions.

Laser Tracker by Segment

The study includes a forecast for the global laser tracker by offering, application, end use, and region.

Laser Tracker Market by Offering [Shipment Analysis by Value from 2018 to 2030]:

• Hardware
• Software
• Service

Laser Tracker Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Quality Control And Inspection
• Alignment
• Reverse Engineering
• Calibration

Laser Tracker Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Automotive
• Aerospace And Defense
• Energy And Power
• General Manufacturing
• Architecture And Construction
• Transportation
• Others

Laser Tracker Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Laser Tracker Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies laser tracker companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the laser tracker companies profiled in this report include-

• Hexagon
• Automated Precision
• Variation Reduction Solutions
• Innovmetric Software
• VMT
• Mitutoyo
• Hubbs Machine
• Faro Technologies
• Novanta
• Avon-Dynamic

Laser Tracker Market Insights

Lucintel forecasts that quality control and inspection is expected to witness highest growth over the forecast period because numerous manufacturing companies are embracing this technology to enhance their quality control processes and adhere to customer demands and specifications.

APAC will remain the largest region over the forecast period due to rapid growth of the manufacturing sector in the region, as well as, rising focus of various market players on the adoption of new technologies.

Features of the Global Laser Tracker Market

Market Size Estimates: Laser tracker market size estimation in terms of value ($M).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Laser tracker market size by offering, application, end use, and region in terms of value ($M).

Regional Analysis: Laser tracker market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different offering, application, end use, and regions for the laser tracker market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the laser tracker market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the laser tracker market size?

Answer: The global laser tracker market is expected to reach an estimated $867 million by 2030.

Q.2 What is the growth forecast for laser tracker market?

Answer: The global laser tracker market is expected to grow with a CAGR of 6.5% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the laser tracker market?

Answer: The major drivers for this market are increasing demand for high-precision measurements in various industries, growing adoption of industry 4.0 and smart manufacturing, and technological advancements in laser tracker technology.

Q4. What are the major segments for laser tracker market?

Answer: The future of the global laser tracker market looks promising with opportunities in the automotive, aerospace and defense, energy and power, general manufacturing, architecture and construction, and transportation markets.

Q5. Who are the key laser tracker market companies?

Answer: Some of the key laser tracker companies are as follows:

• Hexagon
• Automated Precision
• Variation Reduction Solutions
• Innovmetric Software
• VMT
• Mitutoyo
• Hubbs Machine
• Faro Technologies
• Novanta
• Avon-Dynamic

Q6. Which laser tracker market segment will be the largest in future?

Answer: Lucintel forecasts that quality control and inspection is expected to witness highest growth over the forecast period because numerous manufacturing companies are embracing this technology to enhance their quality control processes and adhere to customer demands and specifications.

Q7. In laser tracker market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to rapid growth of the manufacturing sector in the region, as well as, rising focus of various market players on the adoption of new technologies.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the laser tracker market by offering (hardware, software, and service), application (quality control and inspection, alignment, reverse engineering, and calibration), end use (automotive, aerospace and defense, energy and power, general manufacturing, architecture and construction, transportation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?