Laser Tracker Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026
- Transparency Market Research
The laser tracker was developed in the mid of 1980s to facilitate robot metrology. Though after thirty years since invention, this technology now renowned as the measurement tool of choice in the manufacturing and assembly of large components. In addition, laser tracker systems lead the field in terms of the durability, accuracy and reliability of portable coordinate measuring machines. Currently, robot tracking, calibration, maintenance and testing application, where the laser tracker technology is used at a rapid pace. Last couple of years, growing demand for research & development activities in 3D measurement technique have tremendously increased the scope and applicability of laser trackers. Furthermore, in laser technology is using multiple application which includes robot metrology, manufacture and assembly of large components worldwide. The global laser tracker market is estimated to witness a stable growth during the projection period from 2018-2026.
Quality control, inspection and measurement is an important consideration in aerospace & defense and automotive businesses to confirm customer specifications and requirements are met. Owing to increasing demand for laser tracker for inspecting and monitoring the quality of finished products, assembled parts and components, which is anticipated to augment the demand of laser tracker in future. Global Laser tracker market has been segmented on the basis of component, application, end use industry and geography.
Based on component, the market for laser tracker has been classified into hardware and software. Hardware segment again is segmented into laser tracker controller, retro reflector, essential accessories, computer system, others. In 2017, the market for essential accessories, computer system segment held the largest market share in laser tracker market. On the basis of application, global laser tracker market has been bifurcated into quality control & inspection, alignment, calibration and reverse engineering. Quality control & inspection segment is projected to grow at a highest CAGR rate during in future. This is mainly due to, various manufacturing companies are adopting this technology to strengthen their quality control segment and to meet the customer requirements and specifications. Based on the end use industry, the global laser tracker market is classified into various types which includes aerospace, robotics, automotive, architecture and construction and power generation among others. Robotics segment is anticipated to grow at highest CARG rate during the forecast period. On the other hand, the aerospace and automation industry hold the significant share in laser tracker market. This is mainly due to laser tracker technology is used for different applications the aerospace and automotive industry which includes alignment of hinge lines and body components, calibration to automate production lines and measurement of large panels among others. On the flip side, availability of other substitute’s inspection product in compare with lower price is anticipated to hinder the growth of this product market in coming years.
Geographically, laser tracker market is segmented into North America, Europe, Asia Pacific, Middle- East and Africa and South America. The growth in demand for laser tracker market is majorly driven by Europe. Asia Pacific is predicted to witness the most auspicious market in the coming years, owing to increasing number of automotive and aviation manufacturers are continuously focusing to expand their operation and manufacturing units across the different part of Europe. Cumulative emphasis on research and development happenings by government initiative in robotics industry is also acting as a key factor in the growth for Asia Pacific market. Across the globe most promising and developing countries in Asia Pacific to dominate the second market share within next forecast period. Asia pacific region is expected to be the fasted growing market for this product due to rapid industrialization and increasing adoption of new technologies across different end use industry vertical.
This report explores the major global industry players in detail. Major companies operating in the global laser tracker market are Brunson Instrument Company (the U.S), Faro (the U.S), On-Trak Photonics Inc. (the U.S), Variation Reduction Solutions, Inc. (the U.S), API (the U.S), Hexagon (Sweden), PLX Inc. (the U.S). VMT GmbH (Germany), Hubbs Machine and Manufacturing Inc. (the U.S) and SGS (Switzerland) among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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- Market segments and sub-segments
- Market trends and dynamics
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
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