Market Overview:

The Global Laser Distance Measurement Devices Market Size Was Valued At Over USD 3.5 Billion In 2022 And USD 5.17 Billion By 2030 With CAGR Of Over 5% Between 2022-2030. 

Laser distance measurement devices are used to figure out how far apart two things are. The laser beams they send out hit things and bounce back to the device. The device then figures out how far away it is based on how long it takes for the beam to come back. This type of equipment is commonly used in construction and surveying. This kind of tool can also be used to figure out how tall something is. The growth of the market is due to more people wanting to use portable and fixed laser ranging devices in the military, in building and construction, in the oil and gas industry, in the metal and mining industry, and in other places. The study on the Global Laser Distance Measurement Devices Market shows how the market is expected to grow in terms of revenue over the next few years.

Laser measuring tools can be expensive, especially if they are precise and have a lot of features. The upfront cost of buying these instruments can be a big problem, especially for small businesses and organizations with limited funds. Laser measuring tools may not be used as much as they could be because they are expensive, especially in markets where prices are important.

Market Dynamics:

Market Trends:

• Growing Demand in Construction and Real Estate

Laser devices that measure distance, like laser rangefinders and laser distance meters, are used a lot in the construction and real estate industries. These devices are used for accurate and efficient measurements of distances, areas, and volumes, thereby improving productivity and reducing human error.

• Advancements in Technology

Laser distance measuring tools have been getting better and better over time. Manufacturers are adding features like Bluetooth connectivity, touchscreens, built-in cameras, and augmented reality (AR) capabilities, which make them easier to use and more versatile. These improvements to technology make the devices more accurate, faster, and better at what they do.

Driving Factors:

• High Accuracy, Precision, and Portability of Laser Trackers

Laser trackers are very easy to carry around. They have an internal battery that gives them extreme accuracy over very long distances and allows them to work in the most difficult conditions while keeping the highest level of accuracy. Modern lasers can be carried around and are very accurate when used within a reasonable range for measuring. Also, systems today are powered by Wi-Fi connectivity, which makes it even easier for sensors to talk to each other and share data.

• Growing Consumption of Electronic Devices

With the help of the digital India program, more people in India are using electronic devices. Before they can be sold, all electronic devices and equipment must pass an authentication test. As more electrical and electronic devices are made and used, more test and measurement equipment will be needed in factories that make them. The use of testing and measuring equipment improves the quality of the product and the brand value of the company that uses it. This is because the equipment helps find any problems that could happen during the manufacturing process. In this way, it is expected that India's market for test and measurement equipment will grow quickly over the next few years.

• Growing Demand for Safe and Quality Checked Home Appliances

Since people are using more and more data, it's likely that sales of consumer electronics will go up soon. This will likely lead to a bigger market share for test and measurement equipment. Improvements in home technology are helping the growth of the industrial sector. Smart home appliances are always getting better and newer so they can fit the simple lives of tech-savvy customers. Also, companies have been making cutting-edge parts and complex automation systems for smart homes. Due to the high costs of making technological improvements, which could cause overall product prices to go up, safety and testing are now required for home appliances. Thus, it influence the India test and measurement equipment market.

Restraints/Challenges:

• Availability of Substitutes, such as Laser Radars, to Carry Out Inspection and Calibration Tasks

Companies have started to focus on growing their presence in large-volume metrology applications by releasing new versions and updated laser radar products. For example, API released the DYNAMIC 9D LADAR in May 2022. This is an innovative laser detection and ranging system that can measure both the size and shape of a surface.

• Addressing Alignment Errors in Laser Trackers

Laser trackers come in a variety of shapes and sizes to meet the needs of a wide range of industries and applications, such as quality inspection, tooling, and alignment. But laser trackers can sometimes be out of alignment because of manufacturing tolerances and the way they were designed.

• Competition from Alternative Technologies

Ultrasonic distance measurement, GPS-based measurement, and traditional measuring tools like tape measures are all alternatives to laser distance measurement. Customers may choose these alternatives instead of laser distance measurement devices, depending on the application and needs. This could slow the growth of the market for laser distance measurement devices.

Opportunities:

• Increasing Adoption of Cloud Computing

Companies in the laser tracker business have started to offer cloud-based ways to analyze and process the data that laser trackers collect. For example, Hexagon's Manufacturing Intelligence division offers HxGN SFx | Asset Management, a cloud-ready software solution that helps manufacturers achieve operational excellence by giving them access to real-time machine status and usage reporting.

• Rising 5G Technology for Gadgets

As the size of electronics continues to shrink, test and measurement tools are getting smaller and easier to use. The time it takes to measure is cut down, and the results are more accurate. The newest T&M equipment is being used to test new technologies like 5G, IoT, M2M, and others. On the interior, modern T&M equipment are more intelligent, making the measuring procedure simple and rapid. Many T&M instruments are made less expensive because they use both old and new technology. In many T&M devices, both old and new technologies can be used at the same time. These instruments also have interfaces for USB, LAN, and Bluetooth, which make exchanging and transferring data easier and faster.

• Adoption of IoT and ML in Testing Devices

Adopting cutting-edge digital technology from the present, like semiconductor device manufacturing volume, machine learning (ML), or even the Internet of Things (IoT). More progress in this area is likely to be one of the most important things that will affect the main trends and opportunities in the test and measurement equipment market in the coming year. India is progressing as a result of the effective access to real-time work monitoring provided by cutting-edge solutions like Artificial Intelligence (AI). After realizing how important it is to move to a digital economy, the Indian government has started a number of projects. The government has put a lot of money into the manufacturing sector and the digital economy. Programs like "Make in India" are helping a number of industrial firms in the area grow, which encourages the use of cutting-edge technologies. Because of this, the test and measurement equipment market in India is likely to grow.

Strategic Development:

• In June 2022 - Focuslight Technologies Inc. released the LX02. It is a KW VCSEL line beam transmitter module for LiDAR. The laser transmitter uses innovative 5J high-power VCSEL chips and Focuslight's patented beam shaping optics to produce 1kW peak power with 0.15° horizontal divergence and a typical vertical FOV of 23° with high uniformity of 90%. It also has a laser driver that is powered by a GaN FET fast switch and makes very short pulses (with a width of 5ns).
• In February 2022 - The XT20 and XT22 laser transmitters were made by EASY-LASER and came out. They make handling easier, so measurements can be done faster and there are fewer places where things can go wrong. They make it easier to install machines in a safe way. Both transmitters can measure how flat or straight something is. The XT22 can point the laser beam at an angle of 90 degrees to the laser plane, which lets it do almost any geometric measuring job. Because of this, the app doesn't measure how flat bases are. Fiber laser technology gives the XT22 a higher technical standard for straightness and lets it take measurements up to 40 m away. The XT20 is rated IP55 and can take measurements from up to 20 meters away.
• In June 2022 - Hexagon released the Leica Absolute Tracker AT500, which fixes broken lines of sight automatically within a wide field of view without the user having to do anything. It can measure reflectors up to 160 meters away from the tracker and has simplified 6DoF probing.
• In April 2022 - Hexagon launched a new wireless laser tracker automation system that can deliver accuracy within 50 microns throughout a measuring volume of 60 meters in diameter, independent of robot accuracy. With WRTL, up to four robot-based scanning systems can work at the same time.
• In April 2022 - InnovMetric released PolyWorks 2022. It was the latest version of its smart 3D metrology digital ecosystem. PolyWorks 2022 has new features that add a lot to the abilities of its ecosystem foundations. It makes it easier to check more than one piece when CAD data is not available.

Key Vendors:

Top market players are

• Bosch

Bosch Ltd. (also called "Bosch") is a branch of Robert Bosch GmbH that makes auto parts and home appliances. The company sells gasoline systems, diesel systems, chassis system controls, electrical drives, starter motors and generators, automotive electronics, aftermarket products, and steering systems.

• Hilti

Hilti is the world's leader in providing the construction industry with cutting-edge products, systems, and services. Our success comes from standing out, going against the norm, and giving our customers the power to do some of the most ambitious engineering projects in the world.

• Fluke

Fluke Corporation is the world's biggest maker, distributor, and servicer of electronic test tools and software. It is a wholly owned subsidiary of Fortive Corporation.

• PCE Instruments

PCE offers complete sales and service solutions for our customers' needs in order to optimize processes and cut operating costs. PCE Instruments was started by German engineers almost twenty years ago. Its main office is in Germany, and the company has branches in eleven other countries.

• Leica Geosystems

Leica Geosystems Inc. buys and sells industrial machinery and equipment on a wholesale and retail level. The company sells airborne sensors, construction lasers, laser distance meters, laser tracker systems, automatic and digital levels, locators, machine control systems, mining systems, and other similar products.

• Makita

Makita Corp. (also called "Makita") makes and sells power tools. It makes and sells power tools, pneumatic tools, and equipment for the home. The company's main products are cordless tools, tools for drilling, grinding, cutting, sawing, planning, and pneumatic work, as well as outdoor power tools, tools for removing dust, and accessories.

• Stabila

In 1889, Stabila Messgerate Gustav Ullrich GmbH began. Making measuring and controlling devices is part of what the Company does for a living.

• Stanley Black & Decker

Stanley Black & Decker Inc. (also called "Stanley") is a company that makes industrial tools. It makes, sells, and markets hand tools, power tools, and the accessories that go with them, as well as engineered fastening systems, products, services, and equipment. Stanley also offers services for video surveillance, fire alarm monitoring, alarm monitoring, systems integration, and system maintenance.

• RST Instruments

RST Instruments is a leader in sensors, instruments, communication systems, and data management. It is a company that makes engineered solutions. Since 1977, RST has been making sure that monitoring solutions are reliable.

• Milwaukee Tool

Milwaukee Electric Tool Corporation makes electric power tools and accessories that can be used on the go. The company sells hoists, drills, heat guns, saws and cutters, screwdrivers, vacuums, and other tools and accessories.

Segmentation Analysis:

The market is segmented on the basis of product type, application, end-user and region.

By Product Type:

The laser measuring instrument market is split into handheld, indoor, and outdoor based on the type of product. In 2022, the handheld segment had a market share of more than 55%. This was because more people wanted to reduce noise pollution. These small, portable devices are very useful because they are easy to use and can be used in many different ways. When measuring distances, levels, or angles, handheld laser measurement tools give quick and accurate results without the need for complicated setups or extra equipment. Handheld laser measurement tools are widely used because they are cheap and easy to get. This has helped the laser measurement industry grow as a whole.

• Handheld
• Indoor
• Outdoor

By Application Outlook:

Based on where they are used, the market is divided into construction, automotive, manufacturing, aerospace and defense, telecommunication, and others. From now until 2032, the construction segment is expected to grow at a CAGR of 5%. Laser measuring tools have a wide range of uses in construction, which has changed the way people have measured things in the past. They have a number of benefits that make the building process much better. One of the most important uses of these tools is to measure distances accurately. This lets structures, foundations, and building parts be set up and lined up correctly. Laser levels and rotary lasers provide very accurate vertical and horizontal leveling, making sure that construction projects are graded and lined up correctly. Laser measuring tools are used to figure out the slope, which makes it possible to make slopes and grades that are all the same.

• Construction
• Automotive
• Manufacturing
• Aerospace And Defense
• Telecommunication
• Others

By End-User:

The market for laser measuring instruments is split into three groups based on how they will be used: for personal, commercial, or industrial purposes. In 2022, the industrial segment's share of shipments was about 55%, and by 2032, it is expected to grow at a profitable rate. There are many ways in which laser measuring tools help the industrial sector. They are used to measure dimensions. Laser scanners and Coordinate Measuring Machines (CMMs) make it possible to measure parts accurately and automatically, making sure they meet the design specifications. Laser trackers are used to measure dimensions on a large scale. This makes it easier for manufacturing plants to align, assemble, and check the quality of their products. Lasers are used in industrial safety applications, such as machine guarding and perimeter monitoring, ensuring worker safety. The laser measurement market offers advanced measurement technology to the industrial sector. This improves the efficiency, quality, and safety of many manufacturing and production processes.

• Personal
• Commercial
• Industrial Purposes

Regional Insights:

The global Laser Distance Measurement Devices market has been looked at in different parts of the world, including North America, Latin America, the Middle East, Asia-Pacific, Africa, Europe, and India. In the near future, this market will be led by the global Laser Distance Measurement Devices region.

With a CAGR of 20% from 2022 to 2030, Asia-Pacific is expected to become the fastest-growing region. The growth can be attributed to the increasing demand for laser distance measurement devices in emerging economies such as China and India. Some of the things that are driving the growth of the regional market are the increase in infrastructure projects and the need for better surveying tools. Also, the presence of key industry players like Bosch Sensortech (China) Co., Ltd., InfraScan S.A., Laser Technology International BV, Leica Microsystems AG (Germany), Vaisala Inc., Trimble Navigation Ltd., and Leica Microsystems AG (China) Co., Ltd. is a positive sign.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• This study gives an in-depth look at the global laser distance measurement devices market, including current trends and predictions for the future.
• The report gives information about the market's key drivers, barriers, and opportunities, as well as a detailed analysis of the market's share around the world.
• The current market is looked at quantitatively to show the growth scenario of the market.
• The report gives a detailed analysis of the global laser distance measurement devices market based on how competitive it is and how it will change in the coming years.