Laser Sensor Market: Global Industry Analysis and Forecast (2023-2029)

Laser Sensor Market was valued at US$ 743.59 Mn. in 2022 and expected to grow at CAGR of 9.25 % during the forecast period (2023-2029). Thanks to the growing trend compact segment use have boosted demand for Global Laser Sensor Market.
Laser Sensor Market Overview:
A laser sensor is an electronic device used in distance measurement, tolerance measurement, and sensing an object. These sensors use a laser light beam in which all light wavelengths are the same. These laser beams are very narrow, bright, and travel for very long distances. Types of laser sensors are distance detection-based sensors, received light-based laser sensors, and laser displacement sensors. Laser sensors provide high measurement accuracy, large operating distance and are compact in design with integrated controllers. Increasing applications of laser sensors in areas like quality control, measurement of the thickness of an object, and in alignment tracking, etc are created high demand for the laser sensors. As a result, the laser sensor market is expected to reach US$ 1381.30 Mn. by 2029.To know about the Research Methodology:- Request Free Sample Report
Laser Sensor Market Dynamics:
Increased adoption of automation in the manufacturing industries, the rapid growth of small and medium scale industries, need for cost-effective measurement techniques are driving the growth of the laser sensor market. Laser sensors are ideal for providing millimeter precision and help in the safe positioning of giant industrial parts. Increasing smooth paper, textile, and plastic production industries are in search of such laser sensor technology because they help in maintaining the web edge of the paper in line to avoid the loss occurring due to roller coating damage.

Growing pharmaceutical sectors and increasing research and development activates in medicines are adding an advantage to the market growth. Laser sensors are playing a major role in the quality control of stamps and die, which are used for the manufacturing of tablets. Increased consumption of laser sensors in the maritime sector for safety and security of shipping and off-shore activity is attracting market growth.

Technological advancement in laser sensors like, in December 2021, MIT researchers developed “QUANTUM SENSORS” to detect “SARS-CoV-2 RNA”, which involves laser-based optical sensors. Edge-emitting lasers (EELs) and vertical-cavity surface-emitting lasers (VCSELs) are developing for 3D sensing. To address the manufactures challenges KEYENCE launched CL-3000 displacement laser sensors which are compact, lightweight, and provide high precision measurements. These are some recent developments creating a huge demand for laser sensors in the global market.

Some of the factors affecting the growth of laser sensors are high cost due to the presence of advanced technology so that small scale industries are unable to adopt this technology, stray light may affect the laser sensor measurement, need of experienced personnel’s in operating check shots, and run base stations of laser technology and it is difficult to stay up-to-date with developments.
Segmentation:
Based on Type Segment, The Laser Sensor market is sub-segmented into compact and ultra-compact. The compact segment dominates the global market and it held a share of 61% in 2022. The increasing food and beverages industry and the need for low cost with high-performance measuring devices are attracting the growth of the compact segment in the global market. These compact laser sensors provide a measuring rate of 1 kHz, repeatability from 1 micrometer, fast commissioning and are easy to use. Because of these features, compact laser sensors are widely used in the automotive, electronics, and manufacturing industries. As a result, the compact segment is expected to grow at a CAGR of 5.2 % during the forecast period.

Based on Component Segment, the market is sub-segmented into hardware and software. The software segment dominates the global market and was valued at US$ 353.2 Mn. in 2022. The growing need for contactless measurement, regular calibration, and up-gradation are driving the growth of the software segment. The necessity of distance measurement, width and height measurement, and thickens in electric vehicles and passenger vehicles manufacturing industries are adding advantage to the market growth. Growing developments in laser software like virtual COM for distance sensor EDS software, and PolyDist software are boosting the software segment in the global market.

Based on the End-user Segment, the Laser Sensor market is sub-segmented into automotive, aviation, food & beverages, electronics manufacturing. The food & beverages segment dominates the market and it held a share of 50% in 2022. Laser sensors have low power consumption capacity, corrosion resistance and provide resistance to aggressive chemical cleaning in food industries. Laser sensors are improving the flow of operation in food industries, helping in the detection of contaminants, and resulting in increased profits. These are the features driving the growth of the food and beverages segment in the global market.
Regional Insights:
In 2022, Asia-Pacific held the largest share in the Laser Sensor market. Increasing adoption of automation technologies by developing countries in this region, government regulations to promote the manufacturing industries, and increasing small-scale industries in village areas are attracting the growth of the market in this region. The laser world of photonics was recently held in china which is focusing on “Innovative application of laser processing” and 3D printing. Increasing laser sensor startups in china like “Hesai technology” raised a fund of US$ 528 Mn. and “Smart sense” a developer of CMOS image sensors agreed with China Fortune-Tech Capital, Beyond Ventures, ICF for the development of SmartPixel and SmartGS AI sensors, etc. these are some recent developments driving the growth of market.

North America is the second dominating region in the global laser sensor market. Increasing investment in technology and the presence of major key players are driving the market growth in this region. “Micro-Epsilon” a major laser sensor producer developed “IFS2407-0, 8” a new confocal sensor with a measuring range of 0.8 mm and “scanCONTROL 2900” a powerful 3 D measurement sensor. As a result global laser senior market is growing positively.

The objective of the report is to present a comprehensive analysis of the global market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Laser Sensor market dynamics, structure by analyzing the market segments and projecting the market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Laser Sensor Market.
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Laser Sensor Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 743.59 Mn.


Forecast Period 2023 to 2029 CAGR:
9.25%
Market Size in 2029:
US $ 1381.30 Mn.


 Segments Covered:
by Type
Compact
Ultra-compact


by Component
Hardware
Software


by End-User
Automotive
Aviation
Food & Beverages
Electronics manufacturing



Laser Sensor Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Laser Sensor Market, Key Players are:
1. Rockwell Automation
2. Panasonic
3. OMRON
4. IFM Electronic
5. Banner Engineering
6. Smartray
7. Micro-Epsilon
8. Laser Technology
9. Acuity Laser
10.Waycon PositionSMEsstechni
11.Baumer
12.Optex
13.Technos Instruments
14.LAP GmbH
15.First Sensor

Frequently Asked Questions:

1. Which region has the largest share in Global Laser Sensor Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Laser Sensor Market?
Ans: The Global Laser Sensor Market is growing at a CAGR of 9.25% during forecasting period 2023-2029.

3. What is scope of the Global Laser Sensor Market report?
Ans: Global Laser Sensor Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Laser Sensor Market?
Ans: The important key players in the Global Laser Sensor Market are – Rockwell Automation, Panasonic, OMRON, IFM Electronic, Banner Engineering, Smartray, Micro-Epsilon, Laser Technology, Acuity Laser, Waycon PositionSMEsstechni, Baumer, Optex, Technos Instruments, LAP GmbH, and First Sensor

5. What is the study period of this Market?
Ans: The Global Laser Sensor Market is studied from 2022 to 2029.