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Global Laser Sensor Market to Reach US$ 1080.0 Million by 2027, Bolstered by Expanding Automotive Industry

Published on Nov 02, 2022

The latest report by IMARC Group, titled “Laser Sensor Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global laser sensor market size reached US$ 601.4 Million in 2021. A laser sensor is an electric device that measures value into an analog electrical signal for sensing the accurate location of objects. Some commonly available laser sensors are complementary metal-oxide semiconductors (CMOS), photoelectric sensors, positive sensitive detectors (PSD), distance sensors, displacement sensors, laser edge detection sensors, and charge-coupled devices (CCD). They offer various advantages, such as high reliability, lightness, accuracy, sensitivity, and control with minimal deviation. They are also used for engraving, stamping, and several manufacturing applications, such as 3D imaging, sensing, material processing, laser manufacturing, and micromachining. As a result, laser sensors find extensive applications across automotive, aviation, food and beverage (F&B), healthcare, chemical, and electronics industries.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Laser Sensor Market Trends:

The market is primarily driven by the expanding automotive industry. Laser sensors are installed in automobile light detection and ranging (LIDAR) systems to detect objects and map distances. Moreover, the increasing adoption of automation technology to replace an aging workforce and outdated technologies is providing a positive thrust to market growth. Besides this, laser sensors are widely used for plant management, security, surveillance, automation, motion, and guidance. Along with this, various technological advancements, such as the integration of laser sensors with artificial intelligence (AI) solutions and the Industrial Internet of Things (IIoT), are acting as other growth-inducing factors. These innovative sensors are widely used in the food and beverage (F&B) industry for screening assembly lines and maintaining consistent food standards for processed food products. Other factors, including the rising adoption of smart manufacturing practices, and rapid industrialization, are also anticipated to propel market growth in the coming years. Looking forward, IMARC Group expects the market value to reach US$ 1080.0 Million by 2027, exhibiting a CAGR of 10.45 % during the forecast period (2022-2027).

Market Summary:

  • Based on the type, the market has been bifurcated into compact and ultra-compact.
  • On the basis of the component, the market has been classified into hardware and software, and services.
  • Based on the application, the market has been segregated into security and surveillance, motion and guidance, process monitoring and quality control, distance measurement, manufacturing plant management, and others.
  • On the basis of the end user, the market has been segmented into automotive, aerospace and defense, food and beverages (F&B), consumer electronics, chemical, healthcare, and others.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.
  • The competitive landscape of the industry has also been examined in the report, with some of the key players being Baumer Electric AG, First Sensor AG (TE Connectivity Ltd.), IFM Electronic GmbH, Keyence Corporation, Laser Technology Inc., Micro-Epsilon Messtechnik GmbH & Co. KG, MTI Instruments Inc. (Mechanical Technology Incorporated), OMRON Corporation, Optex Co. Ltd., Panasonic Corporation, Rockwell Automation Inc., Schmitt Industries Inc, and SmartRay GmbH.
     

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