Laser Sensor Market Size to Reach USD 1,553.8 Million by 2030; Industry Compound Annual Growth Rate of 10.9%
The global laser sensor market size was USD 652.2 Million in 2021 and is expected to register a revenue CAGR of 10.09% during the forecast period, according to the latest analysis by Emergen Research. Growing advancements in laser sensor technologies and increasing demand for laser sensors in the food & beverages industry are major factors projected to support market revenue growth between 2021 and 2030. The food & beverage industry uses a wider spectrum of laser sensors to measure natural items in three dimensions and analyze surface of processed products. Through laser technology, government initiatives focus on downsizing of sensor technologies and extensive IoT integration to monitor processes virtually, which are expected to open up new avenues for laser sensor business. For example, Food and Drug Administration (FDA) approved LLT100 laser level transmitter sensor made with polycarbonate and stainless steel. It is a level-measuring device without contact, which was created for industrial applications and hostile settings.
The latest research report is dubbed as the first document encompassing the latest information about the Laser Sensor market that has been gravely affected by the COVID-19 pandemic. The global health crisis poses significant threats to the future growth of the Laser Sensor industry. The report assesses the profound changes in this business setting caused by the outbreak and considers the prominent market aspects that have been severely disrupted by the pandemic. The report thus expounds on the rapidly changing market scenario in this COVID-19 era, which aims to help businesses involved in this sector overcome the pandemic’s gripping effects and formulate new growth strategies to boost the COVID-19 preparedness.
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Key Market Competitors Profiled in the Report:
Micro-Epsilon, Keyence Corporation, MTI Instruments Inc., Rockwell Automation, Inc., Optex Co., LTD., SmartRay GmbH, Schmitt Industries Inc., LAP GmbH Laser Applikationen, Laser Technology, Inc., Balluff Automation India Pvt. Ltd., and OMRON Corporation
Some Key Highlights From the Report
- The ultra-compact laser sensors segment accounted for a significant revenue share in 2021. These sensors are user-friendly and have integrated controllers, making it possible to install them in machinery, plants, and other tight spaces. This sensor’s lightweight makes it suited for high acceleration applications such as robot grippers or commercial printers. Ultra-compact laser sensors are also perfect for taking exact measurements of displacement, distance, and position in a wide range of automation-related applications, including machine construction and 3D printing, which is expected to drive revenue growth of this segment.
- The consumer electronics segment is expected to register a rapid revenue CAGR during the forecast period. Smartphones, tablets, and AI-assisted devices are all growing quickly in the consumer electronics market, which is expected to drive revenue growth of this segment.
- The North America market accounted for largest revenue share in 2021. Rising demand for advanced and compact laser sensors from the aerospace & defense industry is contributing to revenue growth of the market in this region.
- On 01 June 2020, SPL S1L90A and SPL S4L90A lasers from Osram Opto Semiconductors are now available from Mouser Electronics, Inc., the industry’s top New Product Introduction (NPI) distributor with largest assortment of semiconductors and electronic components. High-power infrared SMT components have a laser wavelength of 905 nm, making them appropriate for use in Light Detection and Ranging (LiDAR) applications and autonomous cars.
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This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the period between 2020 and 2028. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Laser Sensor market on the basis of product, application, and region:
- Emergen Research has segmented the global laser sensor market based on type, size, component, application, end-user, and region:
Type Outlook (Revenue, USD Million; 2019–2030)
- Laser distance sensors
- Displacement sensors
- Laser projectors
- Laser photoelectric sensors
- Laser edge detection sensors
- Positioning lasers
Size Outlook (Revenue, USD Million; 2019–2030)
Component Outlook (Revenue, USD Million; 2019–2030)
- Software & Services
Regional Analysis of the Laser Sensor Market:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Objectives of the Report:
- Analysis and estimation of the Laser Sensor market size and share for the projected period of 2022-2030
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Laser Sensor market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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