North America Laser Tracker Market Size, Share & Industry Trends Analysis Report By Offering, By Application (Quality Control & Inspection, Alignment, Reverse Engineering, and Calibration), By Industry, By Country and Growth Forecast, 2022 – 2028
The North America Laser Tracker Market would witness market growth of 6.1% CAGR during the forecast period (2022-2028).
The laser tracker is a precise & portable tool that is used by coordinate measuring machines to measure objects precisely. By measuring simply, quickly, and accurately, these machines enable the creation of products, optimization procedures, and delivery solutions. These characteristics are more significantly aiding the expansion of the laser tracker market.
Dimension values, angles, geometrical tolerances, and other variables are determined by software that computes the retroreflector's 3D coordinates. The hallmark of laser trackers is their capacity to measure large objects. A regular arm-type CMM's measuring range is only a few meters, whereas a laser tracker's measuring range is typically greater than 10m.
When users require to measure large objects such as airplanes, substantial equipment components, or components milled on double-column, five-face milling machines, it is useful. The parts of a laser tracker are typically divided into four categories. A retroreflector (SMR) that makes contact with the object to be measured, a camera body that combines a light-emitting & receiving unit, a tripod to support it, and a computer to run the laser tracker software.
One of the countries with the largest automotive industries is the United States. The expansion of logistics & delivery services, along with major e-commerce behemoths like Amazon, etc., have a significant impact on the demand for commercial vehicles. The development of engine technology is accelerating as worldwide emission standards rise. These elements significantly contribute to the region's regional growth in the automotive industry. Major automotive OEMs are based in the country, and its extensive support infrastructure & electric vehicle policies have a positive impact.
The US market dominated the North America Laser Tracker Market by Country in 2021; thereby, achieving a market value of $238.6 million by 2028. The Canada market is experiencing a CAGR of 8.5% during (2022 - 2028). Additionally, The Mexico market is exhibiting a CAGR of 7.6% during (2022 - 2028).
Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Application, the market is segmented into Quality Control & Inspection, Alignment, Reverse Engineering, and Calibration. Based on Industry, the market is segmented into Automotive, Aerospace & Defense, Energy & Power, General Manufacturing, Architecture & Construction, Transportation, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include FARO Technologies, Inc., 3D Systems Corporation, Hexagon AB, Automated Precision, Inc., Mitutoyo Corporation, InnovMetric Software, Inc., PLX, Inc., Chotest Technology, Inc., VMT GmbH (Herrenknecht AG group of companies) and Hubbs Machine & Manufacturing, Inc.
Scope of the Study
Market Segments covered in the Report:
By Offering
- Hardware
- Software
- Services
- Quality Control & Inspection
- Alignment
- Reverse Engineering
- Calibration
- Automotive
- Aerospace & Defense
- Energy & Power
- General Manufacturing
- Architecture & Construction
- Transportation
- Others
- US
- Canada
- Mexico
- Rest of North America
- FARO Technologies, Inc.
- 3D Systems Corporation
- Hexagon AB
- Automated Precision, Inc.
- Mitutoyo Corporation
- InnovMetric Software, Inc.
- PLX, Inc.
- Chotest Technology, Inc.
- VMT GmbH (Herrenknecht AG group of companies)
- Hubbs Machine & Manufacturing, Inc.
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Laser Tracker Market, by Offering
- 1.4.2 North America Laser Tracker Market, by Application
- 1.4.3 North America Laser Tracker Market, by Industry
- 1.4.4 North America Laser Tracker Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market Overview
- 2.1 Introduction
- 2.1.1 Overview
- 2.1.1.1 Market Composition & Scenario
- 2.2 Key Factors Impacting the Market
- 2.2.1 Market Drivers
- 2.2.2 Market Restraints
- Chapter 3. Competition Analysis - Global
- 3.1 KBV Cardinal Matrix
- 3.2 Recent Industry Wide Strategic Developments
- 3.2.1 Partnerships, Collaborations and Agreements
- 3.2.2 Product Launches and Product Expansions
- 3.2.3 Acquisition and Mergers
- 3.3 Top Winning Strategies
- 3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
- 3.3.2 Key Strategic Move: (Product Launches and Product Expansions : 2019, Apr – 2022, Aug) Leading Players
- Chapter 4. North America Laser Tracker Market by Offering
- 4.1 North America Hardware Market by Country
- 4.2 North America Software Market by Country
- 4.3 North America Services Market by Country
- Chapter 5. North America Laser Tracker Market by Application
- 5.1 North America Quality Control & Inspection Market by Country
- 5.2 North America Alignment Market by Country
- 5.3 North America Reverse Engineering Market by Country
- 5.4 North America Calibration Market by Country
- Chapter 6. North America Laser Tracker Market by Industry
- 6.1 North America Automotive Market by Country
- 6.2 North America Aerospace & Defense Market by Country
- 6.3 North America Energy & Power Market by Country
- 6.4 North America General Manufacturing Market by Country
- 6.5 North America Architecture & Construction Market by Country
- 6.6 North America Transportation Market by Country
- 6.7 North America Others Market by Country
- Chapter 7. North America Laser Tracker Market by Country
- 7.1 US Laser Tracker Market
- 7.1.1 US Laser Tracker Market by Offering
- 7.1.2 US Laser Tracker Market by Application
- 7.1.3 US Laser Tracker Market by Industry
- 7.2 Canada Laser Tracker Market
- 7.2.1 Canada Laser Tracker Market by Offering
- 7.2.2 Canada Laser Tracker Market by Application
- 7.2.3 Canada Laser Tracker Market by Industry
- 7.3 Mexico Laser Tracker Market
- 7.3.1 Mexico Laser Tracker Market by Offering
- 7.3.2 Mexico Laser Tracker Market by Application
- 7.3.3 Mexico Laser Tracker Market by Industry
- 7.4 Rest of North America Laser Tracker Market
- 7.4.1 Rest of North America Laser Tracker Market by Offering
- 7.4.2 Rest of North America Laser Tracker Market by Application
- 7.4.3 Rest of North America Laser Tracker Market by Industry
- Chapter 8. Company Profiles
- 8.1 FARO Technologies, Inc.
- 8.1.1 Company Overview
- 8.1.2 Financial Analysis
- 8.1.3 Regional Analysis
- 8.1.4 Research & Development Expense
- 8.1.5 Recent strategies and developments:
- 8.1.5.1 Product Launches and Product Expansions:
- 8.1.5.2 Acquisition and Mergers:
- 8.1.6 SWOT Analysis
- 8.2 3D Systems Corporation
- 8.2.1 Company Overview
- 8.2.2 Financial Analysis
- 8.2.3 Segmental and Regional Analysis
- 8.2.4 Research & Development Expense
- 8.2.5 Recent strategies and developments:
- 8.2.5.1 Partnerships, Collaborations, and Agreements:
- 8.2.6 SWOT Analysis
- 8.3 Hexagon AB
- 8.3.1 Company Overview
- 8.3.2 Financial Analysis
- 8.3.3 Regional & Segmental Analysis
- 8.3.4 Research & Development Expenses
- 8.3.5 Recent strategies and developments:
- 8.3.5.1 Partnerships, Collaborations, and Agreements:
- 8.3.5.2 Product Launches and Product Expansions:
- 8.3.5.3 Acquisition and Mergers:
- 8.4 Automated Precision, Inc.
- 8.4.1 Company Overview
- 8.4.2 Recent strategies and developments:
- 8.4.2.1 Partnerships, Collaborations, and Agreement:
- 8.4.2.2 Product Launches and Product Expansions:
- 8.5 Mitutoyo Corporation
- 8.5.1 Company Overview
- 8.5.2 Recent strategies and developments:
- 8.5.2.1 Partnerships, Collaborations, and Agreements:
- 8.5.2.2 Product Launches and Product Expansions:
- 8.6 InnovMetric Software, Inc.
- 8.6.1 Company Overview
- 8.6.2 Recent strategies and developments:
- 8.6.2.1 Product Launches and Product Expansions:
- 8.7 PLX, Inc.
- 8.7.1 Company Overview
- 8.7.2 Recent strategies and developments:
- 8.7.2.1 Acquisition and Mergers:
- 8.8 Chotest Technology, Inc.
- 8.8.1 Company Overview
- 8.9 VMT GmbH (Herrenknecht AG group of companies)
- 8.9.1 Company Overview
- 8.10. Hubbs Machine & Manufacturing, Inc.
- 8.10.1 Company Overview
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