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.
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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.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global LASER TRACKER Market Report Segment
By Offering
- Hardware
- Software & Services
By Application
- Quality Control and Inspection
- Alignment
- Reverse Engineering
- Calibration
By Industry
- Automotive & Transportation
- Aerospace and Defense
- Energy and Power
- Manufacturing
- Building & Construction
- Others
Global Laser Tracker Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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.
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