PUBLISHER: Polaris Market Research | PRODUCT CODE: 1150040
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1150040
Laser Tracker Market Share, Size, Trends, Industry Analysis Report, By Type (Hardware, Software, Service); By Application (Automotive, Aerospace, Defense, Healthcare, Manufacturing, Energy & Power, Others); By Region; Segment Forecast, 2022 - 2030
The global laser tracker market size is expected to reach USD 1,042.8 million by 2030, according to a new study by Polaris Market Research. The report " Laser Tracker Market Share, Size, Trends, Industry Analysis Report, By Type (Hardware, Software, Service); By Application (Automotive, Aerospace, Defense, Healthcare, Manufacturing, Energy & Power, Others); By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing advancements in distance measurement technology and rising expansion of industry 4.0 are driving the market over the forecast period. New technologies and the increasing need for computer-aided laser tracker systems help to spur the market.
Due to the increasing demand from the automotive industry for high-tech technologies like laser trackers for quality control calibration, the Asia-Pacific region is predicted to experience high growth in the laser tracker system market. Governments in developing nations are taking the lead in the robotics sector, which is a significant factor in expanding the laser tracking market in the Asia Pacific region.
Additionally, as cloud computing becomes more widely used, these systems will function differently since they will be more affordable than conventional hardware-based solutions. Further, the software subscription model provided by most companies in this industry can significantly lower the high initial investment associated with purchasing a complete setup, including hardware and software. This encourages customers to choose it over other available options on the market.
Laser trackers offer accuracy, dependability, and inspection quality in the manufacturing process. Recently, robot tracking, testing, and maintenance have all been used in laser trackers. Instead of physical control devices and traditional hand tools, laser trackers are frequently utilized to calculate things.
An object that can be moved anywhere within the base unit's line of sight can be measured quickly and precisely by a laser tracker by tracking a laser beam and calculating 3-D coordinates. For Instance, Hexagon AB introduced a new wireless laser tracker automation system in April 2022 that was created specifically for extensive inspection duties carried out by manufacturing organizations.
Laser Tracker Market Report Highlights
Hardware is expected to grow faster due to its application in precision machine alignments: turbines, compressors, CNC machines, pumps, etc.
Manufacturing accounted highest revenue share. A manufacturing segment enables greater accuracy at faster production rates while simultaneously using fewer resources and materials.
Asia-Pacific is expected to grow at the highest CAGR over the projected period because of the increasing growth of the aerospace and automotive sectors, along with the rising usage of products in various applications such as reverse engineering, tool building, and setup in the region.
Major players operating in the industry include Hexagon, Faro Technologies, Automated Precision, Variation Reduction Solutions, InnovMetric Software VMT GmbH, CHOTEST TECHNOLOGY., Mitutoyo Corp., 3D Systems., VMT GmbH, Hubbs Machine and Manufacturing, PLX Inc, FARO Technologies, Novanta, and Avon-Dynamic calibration.
Polaris Market Research has segmented the laser tracker market report based on type, application, and region:
Laser Tracker, Type (Revenue - USD Million, 2018 - 2030)
Hardware
Software
Service
Laser Tracker, Application Outlook (Revenue - USD Million, 2018 - 2030)
Automotive
Aerospace
Defense
Healthcare
Manufacturing
Energy & Power
Laser Tracker, Regional Outlook (Revenue - USD Million, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Laser Tracker Market Insights
- 4.1. Laser Tracker Market - Industry Snapshot
- 4.2. Laser Tracker Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing adoption of cloud computing
- 4.2.1.2. Growing trend of outsourcing 3D metrology services
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Addressing alignment errors in laser trackers
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Laser Tracker Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Laser Tracker Market, by Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Laser Tracker, by Type, 2018 - 2030 (USD Million)
- 5.3. Hardware
- 5.3.1. Global Laser Tracker Market, by Hardware, by Region, 2018 - 2030 (USD Million)
- 5.4. Software
- 5.4.1. Global Laser Tracker Market, by Software, by Region, 2018 - 2030 (USD Million)
- 5.5. Service
- 5.5.1. Global Laser Tracker Market, by Service, by Region, 2018 - 2030 (USD Million)
6. Global Laser Tracker Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 6.3. Automotive
- 6.3.1. Global Laser Tracker Market, by Automotive, by Region, 2018 - 2030 (USD Million)
- 6.4. Aerospace
- 6.4.1. Global Laser Tracker Market, by Aerospace, by Region, 2018 - 2030 (USD Million)
- 6.5. Defense
- 6.5.1. Global Laser Tracker Market, by Defense, by Region, 2018 - 2030 (USD Million)
- 6.6. Healthcare
- 6.6.1. Global Laser Tracker Market, by Healthcare, by Region, 2018 - 2030 (USD Million)
- 6.7. Manufacturing
- 6.7.1. Global Laser Tracker Market, by Manufacturing, by Region, 2018 - 2030 (USD Million)
- 6.8. Energy & Power
- 6.8.1. Global Laser Tracker Market, by Energy & Power, by Region, 2018 - 2030 (USD Million)
- 6.9. Others
- 6.9.1. Global Laser Tracker Market, by Others, by Region, 2018 - 2030 (USD Million)
7. Global Laser Tracker Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Laser Tracker Market Assessment, By Geography, 2018 - 2030 (USD Million)
- 7.3. Laser Tracker Market - North America
- 7.3.1. North America: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.3.2. North America: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.3.3. Laser Tracker Market - U.S.
- 7.3.3.1. U.S.: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.3.3.2. U.S.: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.3.4. Laser Tracker Market - Canada
- 7.3.4.1. Canada: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.3.4.2. Canada: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.4. Laser Tracker Market - Europe
- 7.4.1. Europe: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.4.2. Europe: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.4.3. Laser Tracker Market - UK
- 7.4.3.1. UK: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.4.3.2. UK: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.4.4. Laser Tracker Market - France
- 7.4.4.1. France: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.4.4.2. France: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.4.5. Laser Tracker Market - Germany
- 7.4.5.1. Germany: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.4.5.2. Germany: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.4.6. Laser Tracker Market - Italy
- 7.4.6.1. Italy: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.4.6.2. Italy: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.4.7. Laser Tracker Market - Spain
- 7.4.7.1. Spain: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.4.7.2. Spain: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.4.8. Laser Tracker Market - Netherlands
- 7.4.8.1. Netherlands: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.4.8.2. Netherlands: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.4.9. Laser Tracker Market - Russia
- 7.4.9.1. Russia: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.4.9.2. Russia: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.5. Laser Tracker Market - Asia Pacific
- 7.5.1. Asia Pacific: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.5.2. Asia Pacific: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.5.3. Laser Tracker Market - China
- 7.5.3.1. China: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.5.3.2. China: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.5.4. Laser Tracker Market - India
- 7.5.4.1. India: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.5.4.2. India: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.5.5. Laser Tracker Market - Malaysia
- 7.5.5.1. Malaysia: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.5.5.2. Malaysia: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.5.6. Laser Tracker Market - Japan
- 7.5.6.1. Japan: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.5.6.2. Japan: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.5.7. Laser Tracker Market - Indonesia
- 7.5.7.1. Indonesia: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.5.7.2. Indonesia: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.5.8. Laser Tracker Market - South Korea
- 7.5.8.1. South Korea: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.5.8.2. South Korea: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.6. Laser Tracker Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.6.2. Middle East & Africa: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.6.3. Laser Tracker Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.6.3.2. Saudi Arabia: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.6.4. Laser Tracker Market - UAE
- 7.6.4.1. UAE: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.6.4.2. UAE: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.6.5. Laser Tracker Market - Israel
- 7.6.5.1. Israel: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.6.5.2. Israel: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.6.6. Laser Tracker Market - South Africa
- 7.6.6.1. South Africa: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.6.6.2. South Africa: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.7. Laser Tracker Market - Latin America
- 7.7.1. Latin America: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.7.2. Latin America: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.7.3. Laser Tracker Market - Mexico
- 7.7.3.1. Mexico: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.7.3.2. Mexico: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.7.4. Laser Tracker Market - Brazil
- 7.7.4.1. Brazil: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.7.4.2. Brazil: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- 7.7.5. Laser Tracker Market - Argentina
- 7.7.5.1. Argentina: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- 7.7.5.2. Argentina: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. Hexagon
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Faro Technologies
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Automated Precision
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Variation Reduction Solutions
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. InnovMetric Software
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. VMT GmbH
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. CHOTEST TECHNOLOGY
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Mitutoyo
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. 3D Systems
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Hubbs Machine
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. PLX Inc
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. FARO Technologies
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. Novanta
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
- 9.14. Avon-Dynamic
- 9.14.1. Company Overview
- 9.14.2. Financial Performance
- 9.14.3. Product Benchmarking
- 9.14.4. Recent Development
List of Tables
- Table 1 Global Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 2 Global Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 3 Laser Tracker Market Assessment, By Geography, 2018 - 2030 (USD Million)
- Table 4 North America: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 5 North America: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 6 U.S.: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 7 U.S.: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 8 Canada: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 9 Canada: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 10 Europe: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 11 Europe: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 12 UK: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 13 UK: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 14 France: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 15 France: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 16 Germany: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 17 Germany: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 18 Italy: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 19 Italy: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 20 Spain: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 21 Spain: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 22 Netherlands: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 23 Netherlands: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 24 Russia: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 25 Russia: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 26 Asia Pacific: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 27 Asia Pacific: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 28 China: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 29 China: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 30 India: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 31 India: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 32 Malaysia: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 33 Malaysia: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 34 Japan: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 35 Japan: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 36 Indonesia: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 37 Indonesia: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 38 South Korea: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 39 South Korea: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 40 Middle East & Africa: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 41 Middle East & Africa: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 42 Saudi Arabia: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 43 Saudi Arabia: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 44 UAE: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 45 UAE: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 46 Israel: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 47 Israel: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 48 South Africa: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 49 South Africa: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 50 Latin America: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 51 Latin America: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 52 Mexico: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 53 Mexico: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 54 Brazil: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 55 Brazil: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
- Table 56 Argentina: Laser Tracker Market, by Application, 2018 - 2030 (USD Million)
- Table 57 Argentina: Laser Tracker Market, by Type, 2018 - 2030 (USD Million)
List of Figures
Figure 1 Global Laser Tracker Market, 2018 - 2030 (USD Million)
Figure 2 Integrated Ecosystem
Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
Figure 4 Market by Geography
Figure 5 Porter's Five Forces
Figure 6 Market by Application
Figure 7 Global Laser Tracker Market, by Application, 2021 & 2030 (USD Million)
Figure 8 Market by Type
Figure 9 Global Laser Tracker Market, by Type, 2021 & 2030 (USD Million)
Figure 10 Laser Tracker Market Assessment, By Geography, 2018 - 2030 (USD Million)
Figure 11 Strategic Analysis - Laser Tracker Market
