The global laser trackers market size is slated to reach US$ 302.8 million in 2023. As per FMI predictions, the estimated market CAGR from 2023 to 2033 is 11.4% CAGR. By the end of the forecast period, the market is estimated to attain a market valuation of US$ 891.4 million.
| Attribute | Details |
|---|---|
| Laser Trackers Market Size (2022) | US$ 270.1 million |
| Laser Trackers Market Size (2023E) | US$ 302.8 million |
| Laser Trackers Market Forecast Size (2033F) | US$ 891.4 million |
| Laser Trackers Market Value-based CAGR (2023 to 2033) | 11.4% |
| Laser Trackers Market Value-based CAGR (2018 to 2022) | 13.2% |
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In the historical period, the market gained a value of US$ 270.1 million in 2022. The market throughout the historical period recorded a CAGR of 13.2%.
In recent years, the market has gained momentum owing to the surging adoption of laser-based technology in multiple industries like healthcare, defense, manufacturing, etc. Further, advances in distance measurement technology have also fueled the market in the historical period.
Laser trackers are employed in challenging situations where high precision is required. Their increasing use can be attributed to their portability and in-built battery. Over the forecast period, the laser trackers market is pegged to achieve US$ 891.4 million by 2033. At present, the market is estimated to stand at US$ 302.8 million in 2023. From 2023 to 2033, the market is expected to register a CAGR of 11.4%.
Modern lasers offer high precision and portability when utilized within a practical measurement range. The latest systems in the market are Wi-Fi enabled, permitting enhanced fluid communication among sensors to expedite data transfer.
Manufacturers in the market are consistently introducing new solutions and products, which is projected to foster market growth. Additionally, heightened investments in the industry to advance laser tracker technology are also forecasted to have a positive influence in the coming years.
Firms operating in the market have commenced delivering cloud-based solutions for processing and analyzing data. For example, Hexagon’s Manufacturing Intelligence provides HxGN SFx Asset Management, which is a cloud-ready software solution. This solution assists manufacturers in providing operational excellence by delivering access to utilization reporting and real-time machine status.
| Attribute | Details |
|---|---|
| Country | China |
| Market Size (US$ million) by End of Forecast Period (2033) | US$ 222.5 million |
| CAGR % 2023 to End of Forecast (2033) | 11.4% |
China’s laser trackers industry is projected to amount to US$ 222.5 million by 2033. Throughout the assessment period, China market is predicted to expand at a CAGR of 11.4%. The country is observing an increase in the establishment of smart factories, which is facilitating the demand for laser trackers.
The large automobile industry in China is also supporting the sales of laser trackers in the country. Further, the high penetration rate of electric vehicles and substantial production of solar modules are pushing market growth.
| Attribute | Details |
|---|---|
| Country | The United States |
| Market Size (US$ million) by End of Forecast Period (2033) | US$ 164.3 million |
| CAGR % 2023 to End of Forecast (2033) | 11.3% |
The United States laser trackers market is projected to attain US$ 164.3 million by 2033. Up until 2033, the market is predicted to expand at a CAGR of 11.3%. The regional growth is supported by the presence of several conglomerates in the United States.
Companies offering laser trackers are continuously updating their product offerings to match the current demands, thus augmenting the country’s market. Additionally, ongoing mergers and acquisitions are also expected to have a positive impact on the market revenue.
| Attribute | Details |
|---|---|
| Country | The United Kingdom |
| Market Size (US$ million) by End of Forecast Period (2033) | US$ 33.2 million |
| CAGR % 2023 to End of Forecast (2033) | 11.2% |
The United Kingdom market in Europe is projected to be a key market. The United Kingdom laser trackers industry is projected to generate US$ 33.2 million by 2033. From 2023 to 2033, the market is anticipated to assume a CAGR of 11.2%. Increasing application of laser trackers in tool building and setup and reverse engineering is expected to propel market development.
Increasing advancements in laser trackers are also projected to have a positive influence over the forecast period. There have been improvements in the technology by integrating a rotating laser source with an autonomous tracking beam. With this enhancement, the system is expected to be empowered to offer information to the excavation machines. Consequently, simplifying and decreasing the construction charges.
| Attribute | Details |
|---|---|
| Country | The United Kingdom |
| Market Size (US$ million) by End of Forecast Period (2033) | US$ 174.9 million |
| CAGR % 2023 to End of Forecast (2033) | 11.3% |
Japan’s laser trackers industry is expected to gain a market value of US$ 174.9 million by 2033. Throughout the forecast period, the market is expected to perceive a CAGR of 11.3%. The government of Japan is taking an active initiative in the robotics sector, which is expected to have a positive influence over the overall market. Additionally, laser trackers are increasingly employed in industries like defense and aerospace, energy and power, construction, etc.
| Attribute | Details |
|---|---|
| Segment | Aerospace & Defense |
| CAGR % (2023 to 2033) | 10.6% |
| CAGR % (2018 to 2023) | 12.7% |
The aerospace and defense industry is projected to be the top end-use segment in the upcoming years. Throughout the forecast period, the market is anticipated to expand at a CAGR of 10.6%. The segment is an early adopter of laser trackers and a significant user of laser trackers currently. Simple design, easy portability, and ability to achieve high precision of laser trackers is also a key driver for its growth in the aerospace and defense domain.
The segment growth can be ascribed to the surging awareness about the advantages of integrating laser trackers with the manufacturing processes. Some of the benefits include non-contact error mapping, real-time data acquisition, enhanced precision, etc.
| Attribute | Details |
|---|---|
| Segment | Quality Control & Inspection |
| CAGR % (2023 to 2033) | 10.8% |
| CAGR % (2018 to 2023) | 12.8% |
Based on application, quality control, and inspection is expected to attain the position of the leading segment by 2033. From 2023 to 2033, the market is projected to gain a CAGR of 10.8%, increasing from the 12.8% CAGR observed in the historical period.
Increasing demand for laser trackers in the manufacturing industry like aerospace and defense, and automotive, is projected to catalyze the segment growth. Manufacturers extensively employ laser trackers to check the quality of manufacturing processes that cater to customer requirements.
Key players in the market are concentrating their efforts on panning out advanced laser trackers to drive enhanced outcomes. In addition to this, strategies like mergers and acquisitions, and partnerships are key strategies employed by the manufacturers to scale their revenue in the years to come.
Key Developments in the Laser Trackers Market:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ million for Value |
| Key Regions Covered | North America; Latin America; Europe; Asia Pacific; and the Middle East and Africa (MEA) |
| Key Countries Covered | The United States, Canada, Mexico, Germany, the United Kingdom, France, Italy, China, Japan, South Korea, Australia, Brazil, the Middle East, and Africa |
| Key Segments Covered | Application, End-use, and Region |
| Key Companies Profiled | Nikon Corporation; Keyence Corporation; SGS SA; FARO Technologies, Inc.; Hexagon AB; Leica Geosystems AG; Nikon Metrology, Inc.; Mitutoyo Corporation; Automated Precision, Inc.; Egismos Technology Corporation |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at US$ 302.8 million in 2023.
Yes, China has a large manufacturing base and a growing demand for precision manufacturing.
The aerospace and defense industry is the primary consumer of the laser trackers market.
The market is estimated to reach US$ 891.4 million by 2033.
The market trend for laser trackers is expected to grow at a CAGR of 11.4% by 2033.
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Application, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033
5.3.1. Quality Control & Inspection
5.3.2. Alignment
5.3.3. Calibration
5.3.4. Reverse Engineering
5.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-Use, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-Use, 2023 to 2033
6.3.1. Aerospace & Defense
6.3.2. Automotive
6.3.3. Energy & Power
6.3.4. Architecture & Construction
6.3.5. Others
6.4. Y-o-Y Growth Trend Analysis By End-Use, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End-Use, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. MEA
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. The USA
8.2.1.2. Canada
8.2.2. By Application
8.2.3. By End-Use
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Application
8.3.3. By End-Use
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Application
9.2.3. By End-Use
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Application
9.3.3. By End-Use
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. United Kingdom
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Application
10.2.3. By End-Use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Application
10.3.3. By End-Use
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Singapore
11.2.1.5. Thailand
11.2.1.6. Indonesia
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of Asia Pacific
11.2.2. By Application
11.2.3. By End-Use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Application
11.3.3. By End-Use
11.4. Key Takeaways
12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of MEA
12.2.2. By Application
12.2.3. By End-Use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Application
12.3.3. By End-Use
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. USA
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2022
13.1.2.1. By Application
13.1.2.2. By End-Use
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2022
13.2.2.1. By Application
13.2.2.2. By End-Use
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2022
13.3.2.1. By Application
13.3.2.2. By End-Use
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2022
13.4.2.1. By Application
13.4.2.2. By End-Use
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2022
13.5.2.1. By Application
13.5.2.2. By End-Use
13.6. United Kingdom
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2022
13.6.2.1. By Application
13.6.2.2. By End-Use
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2022
13.7.2.1. By Application
13.7.2.2. By End-Use
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2022
13.8.2.1. By Application
13.8.2.2. By End-Use
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2022
13.9.2.1. By Application
13.9.2.2. By End-Use
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2022
13.10.2.1. By Application
13.10.2.2. By End-Use
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2022
13.11.2.1. By Application
13.11.2.2. By End-Use
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2022
13.12.2.1. By Application
13.12.2.2. By End-Use
13.13. Singapore
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2022
13.13.2.1. By Application
13.13.2.2. By End-Use
13.14. Thailand
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2022
13.14.2.1. By Application
13.14.2.2. By End-Use
13.15. Indonesia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2022
13.15.2.1. By Application
13.15.2.2. By End-Use
13.16. Australia
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2022
13.16.2.1. By Application
13.16.2.2. By End-Use
13.17. New Zealand
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2022
13.17.2.1. By Application
13.17.2.2. By End-Use
13.18. GCC Countries
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2022
13.18.2.1. By Application
13.18.2.2. By End-Use
13.19. South Africa
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2022
13.19.2.1. By Application
13.19.2.2. By End-Use
13.20. Israel
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2022
13.20.2.1. By Application
13.20.2.2. By End-Use
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Application
14.3.3. By End-Use
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Nikon Corporation
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. Keyence Corporation
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.2.5.2. Product Strategy
15.1.2.5.3. Channel Strategy
15.1.3. SGS SA
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.3.5.2. Product Strategy
15.1.3.5.3. Channel Strategy
15.1.4. FARO Technologies, Inc.
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.4.5.2. Product Strategy
15.1.4.5.3. Channel Strategy
15.1.5. Hexagon AB
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.5.5.2. Product Strategy
15.1.5.5.3. Channel Strategy
15.1.6. Leica Geosystems AG
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.6.5.2. Product Strategy
15.1.6.5.3. Channel Strategy
15.1.7. Nikon Metrology, Inc.
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.7.5.2. Product Strategy
15.1.7.5.3. Channel Strategy
15.1.8. Mitutoyo Corporation
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.8.5.2. Product Strategy
15.1.8.5.3. Channel Strategy
15.1.9. Automated Precision, Inc.
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.9.5.2. Product Strategy
15.1.9.5.3. Channel Strategy
15.1.10. Egismos Technology Corporation
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.10.5.2. Product Strategy
15.1.10.5.3. Channel Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
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Laser Trackers Market
