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Title: LASER DISPLACEMENT SENSOR MARKET ANALYSIS | COHERENT MARKET INSIGHTS


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.com/
  • COVID-19 Impact Tracker

2
LASER DISPLACEMENT SENSOR MARKET ANALYSIS
  • Laser Displacement Sensor Market, by Range (Less
    than 100 mm, 100 mm 300 mm and More than 300
    mm), by End-use Industry (Automotive, Aerospace
    and Defense, Industrial, Consumer Electronics and
    Others) and by Region (North America, Latin
    America, Europe, Asia Pacific, Middle East and
    Africa) - Size, Share, Outlook, and Opportunity
    Analysis, 2019 2027
  • The global Laser Displacement Sensor Market was
    accounted for US 3,330.9 Mn in terms of value in
    2019 and is expected to grow at CAGR of 7.6 for
    the period 2019-2027

3
Market Drivers
  • Increasing demand for automation in numerous
    sectors is expected to drive growth of the global
    Laser Displacement Sensor Market during the
    forecast period
  • The demand for automation is increasing rapidly,
    especially in core industries such as automotive,
    manufacturing, packaging, and logistics. In
    automation, sensors play a crucial role, which is
    expected to witness high demand in the near
    future. Laser displacement sensors are
    non-contact type sensors, which are more accurate
    and which offer a wider range of applications as
    compared to conventional contact-type sensors.
    Moreover, the high superiority of laser sensors
    over other types of sensors is expected to drive
    growth of the global laser displacement sensor
    market during the forecast period.

4
  • Cost-efficiency and wide range of applications
    offered by laser sensors are expected to propel
    the global laser displacement sensor market
    growth over the forecast period
  • Laser displacement sensors are deployed in a
    wide array of applications including measurement
    of thickness and irregular surfaces of
    non-conductive materials such as plastics, paper,
    and ceramics. The operational efficiency of laser
    displacement sensors is not hindered by external
    factors such as unfavorable temperature and
    magnetic field interface. This, in turn, acts as
    an advantage enabling these sensors to operate in
    varied environmental conditions. Furthermore,
    rising use of laser displacement sensors in the
    quality control department, wherein it can save
    additional expenditure and avoid wastage of raw
    materials and time are other factors expected to
    propel the global laser displacement sensor
    market growth over the forecast period.

5
  • Asia Pacific region dominated the global Laser
    Displacement Sensor Market in 2019, accounting
    for 32.9 share in terms of value, followed by
    North America, Europe, Middle East and Africa and
    Latin America.

6
Market Restraints
  • Complexities involved in the use of these sensors
    are expected to restrain growth of the global
    laser displacement sensor market during the
    forecast period
  • Laser displacement sensor needs to be placed on
    a specialized fixture for their accurate
    functioning. These fixtures are required to be
    kept away from vibrations to avoid fluctuations
    in readings. Moreover, special efforts are needed
    to ensure that the sensor does not overheat or
    get wet. The laser needs to be kept away from
    dust and foreign particles since they can affect
    the final readings. Hence, these factors are
    expected to hamper the global laser displacement
    sensor market growth in the near future.

7
  • High initial price and high maintenance costs are
    expected to hinder the global laser displacement
    sensor market growth over the forecast period
  • Initial installation cost of a laser
    displacement sensor is relatively higher than
    ordinary sensors. Thus smalls-sized manufacturing
    or automotive companies are unwilling to install
    these sensors. Moreover, the operational and
    maintenance costs of laser displacement sensors
    are also significantly more than other sensors.
    As result of this, many small and medium-sized
    companies are reluctant to implement this sensor,
    which in turn, is expected to hinder the global
    laser displacement sensor market growth over the
    forecast period.

8
Market Opportunity
  • Rising acceptance of non-contact type sensors can
    offer major business strategies Non-contact
    type sensors are rapidly gaining popularity over
    conventional contact-type sensors, owing to
    lucrative advantages offered by the former.
    Non-contact type sensors have longer operational
    life as compared to contact type sensors since
    they are physically in contact with the object.
    Moreover, the accuracy that non-contact type
    sensors such as laser displacement sensors
    provide does not match with traditional contact
    type sensors. Contact type sensors are used in a
    variety of specialized applications, however, the
    flexibility and variety offered non-type sensors
    make them a popular choice.
  • Increasing need for high-speed precision control
    can present lucrative growth opportunities In
    the recent past, the need for high-speed
    precision control has surged in order to increase
    accuracy and reduce the production cycle time.
    Laser displacement sensors offer excellent
    precision control at high speed and also offer
    cost-affectivity during quality control. These
    factors would help laser displacement sensors to
    dominate the non-contact type sensors market.

9
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10
Market Trends
  • North America Trends
  • In North America, laser displacement sensors are
    being employed by industrial robots as a
    measuring tool. According to Robotic Industries
    Association (RIA), the robotics market in North
    America registered record orders and shipments in
    2015. A total of 31,464 robots valued at US 1.8
    Bn were ordered by companies from North America
    during 2015, an increase of 14 in units and 11
    in dollars over 2014. Moreover, robot shipments
    set new records, with 28,049 robots valued at US
    1.6 Bn shipped to customers in North America, in
    2015. This trend is expected to continue during
    the forecast period, owing to a positive view of
    various industries toward implementation of
    robots in operational process.

11
  • Europe Trends
  • According to Coherent Market Insights analysis,
    Europe holds a dominant position in the global
    automotive manufacturing industry. The region is
    witnessing increase in the use of different
    advanced sensors in the automotive industry. The
    use of a combination of position sensors in the
    automobile industry is increasing rapidly. The
    automobile industry is employing various
    technologies involving sensor technology for
    better design of modern automotive vehicles in
    the region. The current trend of using advanced
    and automated technology in automotive industry
    is expected to increase in the near future, in
    order to design and fabricate automatic and
    modern vehicles for consumers.

12
Segment information
  • In global Laser Displacement Sensor Market, by
    Range, gt300 sub-segment dominated the global
    market in 2019, accounting for 70.7 share in
    terms of value, followed by Android and Windows
    respectively.

13
Competitive Section
  • Key players operating in the global laser
    displacement sensor market are Panasonic
    Corporation, Micro-epsilon, Sick AG, Hans Turck
    GmbH Co. KG, Omron Corporation, Banner
    Engineering Corp., Keyence Corporation, Cognex
    Corporation, ZSY Group Ltd, and Mechanical
    Technology, Inc.

14
Key Developments
  • Major market players involved in product
    development, in order to enhance product
    portfolio. For instance, in September 2017,
    Panasonic Corporation developed 3D LiDAR Sensor
    that facilitates variable detection settings for
    viewing angles and scanning speed.
  • Key companies in the market are focused on
    product launches, in order to strengthen market
    presence. For instance, in March 2018, Sick AG
    introduced DT1000 and DL1000 distance sensors for
    highly accurate measurement and traffic
    management duties.

15
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  • Reference https//www.coherentmarketinsights.com/
    market-insight/laser-displacement-sensor-market-37
    25

16
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

17
Contact Us
  • Mr. Shah
  • Coherent Market Insights Pvt.Ltd.
  • Address 1001 4th Ave, 3200 Seattle, WA 98154,
    U.S.
  • Phone 1-206-701-6702
  • Email sales_at_coherentmarketinsights.com

18
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