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Accuracy estimation device scene is being reshaped by a flood of problematic market patterns in the laser tracker industry. The developing spotlight on savvy innovations and mechanization is one eminent pattern. Robotized fabricating processes are consolidating Laser Trackers as Industry 4.0 and the Web of Things (IoT) build up forward movement. This pattern, wherein Laser Trackers become a fundamental part of connected and keen assembling frameworks, isn't just working on activities yet additionally further developing proficiency and constant information investigation.
The rising requirement for versatile and convenient Laser Tracker arrangements is another critical pattern. A developing number of enterprises are searching for estimating instruments that are both portable and climate versatile. Since they make it conceivable to take estimates squarely in the field or on the shop floor without moving weighty items to an extraordinary estimating office, convenient laser trackers are turning out to be increasingly famous. In areas where location estimations are essential, similar to development, shipbuilding, as well as enormous scope gathering, this pattern is particularly significant.
One more arising pattern is the fuse of VR and AR advances into laser trackers. This advancement makes it simpler for clients to break down and settle on choices by empowering the representation of estimation information in vivid conditions. By offering an easier to understand and intelligent connection point, AR and VR capacities further develop the client experience and simplify it for administrators to decipher the estimation results and work together beneficially. This advancement is aligning Laser Tracker innovation with the general pattern of vast digitalization.
Furthermore, ecological and manageable elements are bigger affecting laser tracker market patterns. Because of the developing consciousness of the ecological effect, makers are making laser global positioning frameworks that are both energy-productive and harmless to the ecosystem. This pattern is in accordance with the worldwide development towards greener advancements and is driven by the need for maintainable arrangements in the assembling processes. Makers of laser trackers are exploring materials and creation methods that lessen energy and waste, supporting a more mindful and maintainable way to deal with the market.
Application patterns show that Laser Trackers are turning out to be increasingly more famous in huge scope metrology as well as quality control. Laser trackers are utilized by the aviation, auto, and energy businesses to ensure item precision and advance assembling strategies. To meet the remarkable prerequisites of these businesses, makers of Laser Trackers are being constrained by the market interest for the high-accuracy estimation answers for make frameworks with considerably higher exactness and steadfastness.
The market is likewise showing a pattern toward additional reasonable choices. Producers of laser trackers are investigating ways of bringing down the complete expense of proprietorship so a more extensive scope of enterprises can manage the cost of these high-accuracy instruments. This pattern incorporates drives to give cutthroat valuing models, improve asset usage, as well as smooth out assembling processes. Therefore, more modest organizations and enterprises with tighter financial plans are beginning to find Laser Trackers seriously engaging.
One progressive pattern that is beginning to arise is the consolidation of ML and AI into Laser Tracker frameworks. These innovations consider independent direction, prescient upkeep, and high-level information examination, which works on the limit of Laser Trackers. Enormous scope estimation information handling, design acknowledgment, and sagacious examination are conceivable with simulated intelligence and ML calculations, which improve efficiency and effectiveness in modern conditions.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Rising automation of robotic systems |
| Market Dynamics | High precision, portability, and accuracySurge in technological innovation in distance measurement technology |
Laser Tracker Market Highlights:
Global Laser Tracker Market Overview:
Laser Tracker Market Size was valued at USD 0.34 Billion in 2023. The laser tracker market industry is projected to grow from USD 0.38 Billion in 2024 to USD 0.865 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 10.74% during the forecast period (2024 - 2032).
The rising demand for three-dimensional measurement solutions across a variety of industries, including aerospace, defense, automotive, and power generation, as well as the increasing use of laser trackers for the assembly of large components, are some of the major market drivers that have contributed to these advancements in distance measurement technology and processing speed.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Laser Tracker Market Trends
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Increasing use of laser trackers in the automotive industry is driving the market growth
The automobile sector is seeing a surge in demand for laser trackers as a low-cost tool to maintain vehicle quality control. Laser trackers provide in-place inspection, metrology evaluation alignment and assembly, reverse engineering, and part mating for large auto components and assemblies. Other uses for the laser tracker include setting up and aligning weld lines, setting up and aligning assembly lines, inspecting tools and fixtures, and more. Additionally, robotic automation made possible by laser tracking enables on-machine examination of large parts. Leica Absolute Tracker ATS600, the industry's first direct scanning laser trackers, was introduced in March 2019 by HEXAGON Manufacturing Intelligent Division. It is made to accurately find a point in three-dimensional space. It can be utilized for large-scale measurement tasks in the automotive industry.
Another important element boosting market CAGR is the rise in the number of businesses making large investments in R&D projects and developing new product lines with enhanced precision and measuring capabilities. There is an increase in demand for distance measurement technology based on ultrasound and radar in several end-use industries, including shipbuilding, manufacturing, aircraft, and construction. Three-dimensional (3D) technology has been combined into laser trackers to improve performance and accuracy. One such innovation is 3D scanning, which lets laser trackers quickly record and transform an object's or structure's surface geometry into digital form. Photogrammetry, which involves taking pictures of an object or structure from various angles and then using software to create a 3D model, is another 3D technology used in laser trackers. For instance, on June 29, 2022, Hexagon's Manufacturing Intelligence business unveiled the Leica Absolute Tracker AT500 and B-Probeplus, the company's most recent portable 3D laser tracker system. This new design significantly advances portability because it reduces cabling, simplifies setup, and supports a plug-and-play method.
However, for big dimensional metrology, laser tracker is regarded as the most precise portable tool. Portability, accuracy, simplicity of use, continuous measurement, and other advantages all contribute to the market's expansion. The debut of the next-generation Vantage Laser Tracker 6 Degrees of Freedom probe, the 6DoF Laser Tracker, was announced by FARO Technologies Inc. in November 2020. It is built with features that make it exceptionally portable, economical, quicker, and more accurate. Thus, driving the laser tracker market revenue.
Laser Tracker Market Segment Insights:
Laser Tracker Vertical Insights
The Laser Tracker Market segmentation, based on vertical, includes Automotive, Aerospace and Defense, Architecture and Construction, Energy and Power, Railways and Shipbuilding. The automotive segment dominated the market. The growth of the automotive sector across a range of applications, including alignment, reverse engineering, and quality control & inspection, is made feasible by enterprises' rising interest in researching emerging markets. Many automakers have also started investing in cutting-edge technologies like laser trackers to enhance modern cars with advanced features, increase productivity, and meet the rising demand for automobiles.
Laser Tracker Component Insights
The Laser Tracker Market segmentation, based on component, includes Hardware, Software and Services. The hardware category generated the most income. A laser tracker measuring system comprises a variety of hardware and sensors that the machine uses to track and measure position and orientation in real time. Inertial measurement units (IMU), linear encoders, and laser trackers (optical devices) are just a few sources that must provide data for these positions to be accurately defined or updated. A computer-aided laser tracker measurement system is the actual measuring system employed in CALS. Hardware for this instrument includes a laser tracker, a tripod, a measurement arm, and other parts.
Figure 1: Laser Tracker Market, by Component, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Laser Tracker Function Insights
The Laser Tracker Market segmentation, based on function, includes Quality Control and Inspection, Alignment, Reverse Engineering, Tool building and Setup and Automated Assembly System. The quality control and inspection segment dominated the market because the automotive, aerospace, and military production sectors are seeing an increase in laser tracker demand. In order to match client demands, a manufacturer uses a laser tracker to quality-control the manufacturing process.
Laser Tracker Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American laser tracker market area will dominate this market. This is due to the region's abundant supply of resources. Due to the rapid expansion of the demand for electric vehicles and the production of solar modules, laser trackers have tremendous growth potential in these industries for uses, including reverse engineering, inspection, quality control, calibration, and alignment. These several elements encourage the expansion of the regional market.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Laser Tracker Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe laser tracker market accounts for the second-largest market share due to the expanding use of laser tracking across numerous industries, including aerospace, automotive, and others. Europe is the region that produces and exports the most aerospace products, which impacts how quickly Laser Trackers are being used in the industry to meet safety and quality standards. In 2019, the aggregate export value of aerospace from France, Germany, and the UK was $113.7 billion. Further, the German laser tracker market held the largest market share, and the UK laser tracker market was the fastest growing market in the European region
The Asia-Pacific Laser tracker Market is expected to grow at the fastest CAGR from 2023 to 2032 because the automotive sector increasingly demands modern techniques like laser trackers for quality control calibration. Governments in developing nations are taking the lead in the robotics sector, which is a major factor in the expansion of the laser tracking market in the Asia-Pacific region. Moreover, China’s laser tracker market held the largest market share, and the Indian laser tracker market was the fastest growing market in the Asia-Pacific region.
Laser Tracker Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the laser tracker market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, laser tracker industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global laser tracker industry to benefit clients and increase the market sector. In recent years, the laser tracker industry has offered some of the most significant advantages to market. Major players in the laser tracker market attempting to increase market demand by investing in research and development operations include Faro (US), Hexagon (Sweden), API (US), VMT GmbH (Germany), On-Trak Photonics Inc. (US), SGS (Switzerland), Variation Reduction Solutions, Inc. (US), Brunson Instrument Company (US), Hubbs Machine and Manufacturing Inc. (US), and PLX Inc. (US).
Hexagon AB provides information technology for geospatial and commercial enterprise applications that boost quality and productivity. The business provides sensor, software, and autonomous solutions, including sensor-equipped metrology systems, computer-aided design (CAD), and computer-aided manufacturing (CAM) software. Additionally, it provides sensors for satellite location, data collection from the air and ground, and geographic information system software for creating 3D models and maps. Construction, mining, agricultural, aerospace, automotive, defense, and industrial industries use Hexagon products. In June 2022, The Leica Absolute Tracker AT500 was introduced by Hexagon, and it automatically restores broken lines of sight over a large field of view without requiring user input. It has 6DoF probing functionality that is streamlined and offers reflector measurement up to 160 meters from the tracker.
The natural gas and oil industries in America are all represented by API. Most of the country's energy is produced, processed, and distributed by roughly 600 members. A rising grassroots movement of millions of Americans supports the industry, which supports more than ten million employment in the United States. To improve efficiency, operational and environmental safety, and sustainability, API has created more than 800 standards. In May 2021, API Metrology and Mitutoyo Corporation collaborated to make API's portable dimensional metrology, notably laser measurement, available through Mitutoyo's global network.
Key Companies in the laser tracker market include
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Faro (US)
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Hexagon (Sweden)
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API (US)
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VMT GmbH (Germany)
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On-Trak Photonics Inc. (US)
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SGS (Switzerland)
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Variation Reduction Solutions, Inc. (US)
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Brunson Instrument Company (US)
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Hubbs Machine and Manufacturing Inc. (US)
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PLX Inc. (US)
Laser Tracker Industry Developments
August 2022: New Mitutoyo Vision Measurement Systems from the Quick Vision Pro Series were introduced. The Quick Vision Pro Series machines have a wealth of high-performance technology that significantly improves 3D non-contact measuring & productivity. This extremely sophisticated non-contact measuring device gives the Mitutoyo Vision Measurement line even greater effectiveness, speed, and versatility.
April 2022: Independent of robot precision, Hexagon has introduced a new wireless laser tracker automation system that can provide accuracy to within 50 microns over a measurement space of 60 meters in diameter. With WRTL, up to four robot-based scanner systems may operate simultaneously.
April 2022: The most recent version of InnovMetric's intelligent 3D metrology digital ecosystem, PolyWorks 2022, was released. New features that considerably increase the possibilities of the ecosystem foundations are provided by PolyWorks 2022. When CAD data is unavailable, inspecting several pieces is easier.
Laser Tracker Market Segmentation:
Laser Tracker Vertical Outlook (USD Billion, 2018-2032)
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Automotive
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Aerospace and Defense
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Architecture and Construction
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Energy and Power
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Railways
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Shipbuilding
Laser Tracker Component Outlook (USD Billion, 2018-2032)
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Hardware
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Software
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Services
Laser Tracker Function Outlook (USD Billion, 2018-2032)
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Quality Control and Inspection
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Alignment
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Reverse Engineering
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Tool Building and Setup
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Automated Assembly System
Laser Tracker Regional Outlook (USD Billion, 2018-2032)
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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