Global Laser Tracker Market Size Study & Forecast, By Offering (Hardware, Software, Service) By Application (Quality Control and Inspection, Alignment, Reverse Engineering, Calibration) By Industry (Automotive, Aerospace and Defense, Energy and Power, Gen

Global Laser Tracker Market Size Study & Forecast, By Offering (Hardware, Software, Service) By Application (Quality Control and Inspection, Alignment, Reverse Engineering, Calibration) By Industry (Automotive, Aerospace and Defense, Energy and Power, General Manufacturing, Architecture and Construction, Transportation, Others) and Regional Analysis, 2023-2030

Global Laser Tracker Market is valued at approximately USD 642.02 million in 2022 and is anticipated to grow with a healthy growth rate of more than 6.4% over the forecast period 2023-2030. Laser Tracker is a high-precision measuring instrument used for determining the 3D coordinates of objects in various industries such as manufacturing, aerospace, automotive, construction, and more. It employs laser technology to accurately track the position of a target or probe relative to the tracker's position. Laser trackers typically consist of a portable measurement unit mounted on a tripod, which emits a laser beam toward a retroreflective target placed on the object being measured. The Laser Tracker market is expanding because of factors such as rising demand for industrial automation and increasing production of electric vehicles. Laser Tracker is widely used for dimensional inspection, alignment, assembly verification, and quality control in industrial settings. As a result, the demand for Laser Tracker has progressively increased in the global market during the forecast period 2023-2030.

Laser trackers can provide real-time feedback to automated systems, allowing for immediate adjustments based on measurement data. This feedback loop enables automated processes to self-correct and maintain quality standards without human intervention, leading to increased efficiency and productivity. According to Statista, the global market for industrial automation is projected to reach more than USD 368 billion by the year 2025. Furthermore, automated manufacturing processes require precision to ensure product quality and consistency. Laser trackers provide high-accuracy measurements, allowing automated systems to maintain tight tolerances and ensure that components are manufactured to exact specifications. Another important factor that drives the Laser Tracker market is the increasing production of electric vehicles to cater to the demand for sustainable and clean energy options in the automobile industry. Laser trackers help optimize assembly processes by streamlining workflows, reducing rework, and minimizing production downtime. By ensuring precise alignment and fitment of components, laser trackers contribute to the efficient operation of assembly lines, ultimately increasing production output. In addition, as per Statista, in the total number of electric bus registrations, in 2021 China accounts for 50,000 registrations followed by Europe with 4000 registrations and reached up to 54000 and 5000 registrations respectively in the year 2022. Moreover, the rising number of research and development activities based on 3D measurement techniques and the increasing development of portable and handheld laser trackers are anticipated to create a lucrative growth opportunity for the market over the forecast period. However, the high cost of laser tracker technology and technical complexities associated with laser tracker are going to impede overall market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Laser Tracker Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the industrial automation in the region. Laser trackers streamline the measurement process by rapidly capturing 3D data compared to traditional methods. This efficiency translates into time savings during inspection, alignment, and assembly tasks, thereby increasing overall productivity. The region’s dominant performance is anticipated to propel the overall demand for Laser Tracker. Furthermore, Asia Pacific is expected to grow fastest during the forecast period, owing to factors such as growing demand for three-dimensional measurement solutions automotive manufacturing in the region. Automotive manufacturing requires high precision and accuracy in the production of components and assemblies to meet quality standards. Laser trackers offer sub-millimeter accuracy and can precisely measure complex surfaces and geometries, ensuring that automotive parts meet tight tolerances.

Major market player included in this report are:
Hexagon AB
InnovMetric Software Inc.
Mitutoyo Corporation
3D Systems, Inc.
VMT GmbH
mit beschränkter Haftung
Faro Technologies, Inc.
Automated Precision Inc.
Hubbs Machine and Manufacturing Inc.
PLX Inc.

Recent Developments in the Market:
 In June 2022, Hexagon's Manufacturing Intelligence division released the Leica Absolute Tracker AT500 and accompanying B-Probesupplus, the company's most recent 3D laser tracking system. The new AT500 platform, which succeeds the extremely successful AT400 series, has better performance in both reflector and probing measurement, as well as a new battery-powered integrated controller architecture, full IP54 environmental protection, and an expanded operational temperature range. The AT500 is a portable and rugged laser tracker. Several factors contribute to incredibly fast setup times, including the system's built-in controller unit, which is a first for an Absolute Tracker. This new design represents a significant improvement in portability, with cabling reduced to a plug-and-play concept.

Global Laser Tracker Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered - Offering, Application, Industry, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges that will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Offering
Hardware
Software
Service

By Application
Quality Control and Inspection
Alignment
Reverse Engineering
Calibration

by Industry
Automotive
Aerospace and Defense
Energy and Power
General Manufacturing
Architecture and Construction
Transportation
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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