Laser Sensors Market projected to achieve a CAGR of 11.54% to reach US$ 1.4 billion by 2028
The laser sensors market is estimated to grow at a CAGR of 11.54% to reach US$1,396.824 million in 2028 from US$650.370 million in 2021.
NOIDA, UTTAR PRADESH, INDIA, October 5, 2023 /EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the laser sensors market is projected to grow at a CAGR of 11.54% between 2021 and 2028 to reach US$1,396.824 million by 2028.
The prime factors propelling the laser sensors market growth include the increasing demand for laser sensors in automotive applications, growing adoption of laser sensors in industrial automation, and rising demand in consumer electronics.
The laser sensors market is a rapidly growing market, driven by the increasing adoption of laser sensors in a variety of applications, including automotive, industrial automation, consumer electronics, and defense and security. Laser sensors are non-contact sensors that use light to measure distance, displacement, and other physical properties. They are highly accurate and precise, and they can operate in a variety of environmental conditions. One of the key drivers of the laser sensor market is the growing demand for laser sensors in automotive applications. Laser sensors are used in a variety of ADAS and autonomous driving systems, such as adaptive cruise control, lane departure warning systems, and blind spot monitoring. Laser sensors are also used in lidar systems, which are essential for autonomous vehicles.
The market is witnessing multiple collaborations and technological advancements, for instance in June 2022, Acuity released an air-cooling jacket and bracket alignment unit for the AS2100 Accurate Distance Sensor due to high customer demand for mounting accessories in high-temperature environments.
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Based on laser type, the global laser sensors market is divided into point lasers and linear lasers. The linear lasers segment is probably going to be the most noticeable fragment in the market during the estimated time frame. This is due to the increasing demand for linear lasers in automotive applications. Linear lasers are used in a variety of ADAS and autonomous driving systems, such as adaptive cruise control, lane departure warning systems, and blind spot monitoring. Linear lasers are also used in lidar systems, which are essential for autonomous vehicles.
Based on sensor type, the global laser sensors market is divided into Laser Distance Sensors, Laser Displacement Sensors, Laser Photoelectric Sensors, and others. The laser distance sensor segment is expected to have the highest growth in the global laser sensors market during the forecast period. This is due to the increasing demand for laser distance sensors in a variety of applications, including automotive, industrial automation, and consumer electronics.
By end user type, the global laser sensors market is divided into Electrical & Electronics, Aerospace & Defense, Automotive, Construction, and Others. The automotive end-user type is expected to have the highest growth in the global laser sensors market during the forecast period. This is due to the increasing demand for laser sensors in advanced driver assistance systems (ADAS) and autonomous vehicles. Autonomous vehicles are vehicles that can operate without human input. Laser sensors are one of the most important sensor technologies used in autonomous vehicles. They are used to map the vehicle’s surroundings, track other vehicles and objects, and identify potential hazards.
Geographically, North America accounts for a significant share of the global laser sensors market. The demand for ADAS and autonomous vehicles is growing rapidly in North America, which is driving the demand for laser sensors in the automotive industry. Governments in North America are supporting the development of laser sensor technologies for a variety of applications, such as defense, security, and transportation.
As a part of the report, the major players operating in the laser sensors market that have been covered include Ophir Optronics Solution Ltd., Keyence Corporation, Baumer, Acuity (Schmitt Industries), Rockwell Automation, Pepperl+Fuchs, WayCon Positionsmesstechnik GmbH, OPTEX FA CO., LTD (Optex Group), Althen Sensors & Control, and Delta SAS among other significant market players.
The market analytics report segments the laser sensors market as below:
• BY LASER TYPE
o Point Laser
o Linear Laser
• BY SENSOR TYPE
o Laser Distance Sensor
o Laser Displacement Sensor
o Laser Photoelectric Sensor
o Others
• BY END-USER
o Electrical & Electronics
o Aerospace & Defense
o Automotive
o Construction
o Others
• BY GEOGRAPHY
o North America
• United States
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• United Kingdom
• Germany
• France
• Spain
• Others
o Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
o Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others
Companies Profiled:
• Ophir Optronics Solution Ltd.
• Keyence Corporation
• Baumer
• Acuity (Schmitt Industries)
• Rockwell Automation
• Pepperl+Fuchs
• WayCon Positionsmesstechnik GmbH
• OPTEX FA CO., LTD (Optex Group)
• Althen Sensors & Control
• Delta SAS
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• Laser Processing market: https://www.knowledge-sourcing.com/report/laser-processing-market
• Laser Technology Market: https://www.knowledge-sourcing.com/report/global-laser-technology-market
• Reflective Photoelectric sensor Market: https://www.knowledge-sourcing.com/report/reflective-photoelectric-sensor-market
Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
info@knowledge-sourcing.com
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