Laser Tracker Market Scope
Growing demand for research & development activities in 3D measurement technique has extremely improved the scope as well as the applicability of laser trackers. Laser tracker system is used for calculating the three-dimension aspects of the large object during the manufacturing process. It provides reliability, accuracy, and quality of inspection in the manufacturing process. Additionally, Laser tracker is used in robot tracking, calibration, testing, and maintenance. Aerospace and automation industry holds the major share in the global laser tracker market.
According to AMA, the Global Laser Tracker market is expected to see growth rate of 12.24% Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Laser Tracker market throughout the predicted period.
Faro (United States), API (United States), Hexagon (Sweden), VMT GmbH (Germany), On-Trak Photonics Inc. (United States), SGS (Switzerland), Variation Reduction Solutions, Inc. (United States), Brunson Instrument Company (United States), Hubbs Machine and Manufacturing Inc. (United States) and PLX Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are PES metrology (United Kingdom), Manchestor metrology (United Kingdom) and Quantam manufacturing limited (United Kingdom).
Segmentation Overview
The study have segmented the market of Global Laser Tracker market by Type (Measured Radius <50m , Measured Radius 50-80m and Measured Radius >80m), by Application (Quality Control & Inspection, Alignment, Reverse Engineering and Calibration) and Region with country level break-up.
On the basis of geography, the market of Laser Tracker has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Trend:
Growing Demand due to the Automation of Robotic Systems and Advancements in Distance Measurement Technology and Automation of Robotic Systems
Market Growth Drivers:
High Demand due to Improvements in Processing Speed and High Accuracy, Precision, and Portability
Challenges:
Addressing Alignment Errors in Laser Trackers
Restraints:
Availability of Other Substitute’s Inspection Product
Opportunities:
Growing Automotive Market to Boost Overall Manufacturing Process Requiring Condition Monitoring and Extrusion Press Alignment
Market Leaders and their Expansionary Development Strategies
In October 2018, API has launched of its enhanced series of RADIAN Laser Trackers offering the lightest, most compact and highest accuracy trackers available. The extended RADIAN laser tracker range comprises three models; Radian Pro, Radian Plus and Radian Core.
In October 2018, FARO, the world's most trusted source for 3D measurement and imaging solutions for factory metrology, product design, construction BIM and public safety forensics has introduced next generation of FARO Laser Trackers, the 6DoF Vantage product family with 6Probe.
Key Target Audience
ODM and OEM Technology Solution Providers, Small and Large Technology Centers, Laser Tracker Manufacturing Companies, Research Institutes and Organizations, Market Research and Consulting Firms, Companies Providing Solutions in Various Industries That Use Laser Trackers, Government Bodies, Venture Capitalists, and Private Equity Firms and Other
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.