adoption of laser sensors in smart cities is driving the Laser Sensor Market
Technavio analyzes that the Laser Sensor Market is expected to grow at a CAGR of 11.3% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 827.8 million.There are various factors that contribute to the growth of the market. The adoption of laser sensors is on the rise in the development of smart cities, where efficient and accurate data collection is crucial. These sensors utilize laser technology to measure distances and detect objects, providing real-time information for applications such as autonomous vehicles, traffic management, and environmental monitoring. The market for laser sensors is expected to grow significantly due to the increasing demand for smart city infrastructure and the advantages offered by laser technology over traditional sensors.
The industrial laser sensor market is poised for significant growth, driven by the increasing adoption of automation technologies in manufacturing industries. With the deployment of machine vision systems, robots, and collaborative robots (cobots), there is a surge in demand for precise measurement solutions for conveyor belts, steel plates, and profiles. Laser sensors, with their ability to provide real-time detection of presence or absence, are increasingly being adopted for thickness measurements and flame detection in industries dealing with flammable materials. The implementation of these sensors contributes to enhanced safety, improved efficiency, and increased margins for businesses. According to the International Federation of Robotics, the global market for industrial robots reached 2.7 million units in 2019, with 0.37 million new units sold in 2023. The Asia Pacific region led the way in robot adoption, underscoring the market's potential for growth.
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Laser Sensor Market Segmentation
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The Laser Sensor Market encompasses a range of sensors that utilize laser technology for industrial automation applications. These sensors facilitate detections and measurements through the use of laser light and light intensity. Laser distance sensors and displacement sensors provide accurate measurement and measurement speed for positioning purposes. Laser projectors, light curtains, photoelectric sensors, and positioning lasers employ the Time-Of-Flight (ToF) principle for distance measurements. Sensor Partners offer solutions for level measurements, flow optimization, mooring of ships, and ATEX versions for explosion risk areas. Applications include conveyor belts, thickness measurements on steel plates and profiles, and laser projection for margins.
The industrial electronics sector, specifically the laser sensor market, is a significant segment of the larger global electronic equipment and instruments market. This market encompasses manufacturers of laser sensors, including laser distance sensors and laser projectors, used for detection, measurement, positioning, and other industrial applications. The market's growth is driven by the increasing demand for accurate and high-speed measurement solutions in various industries such as semiconductors, automotive, information technology, consumer electronics, industrial, energy, and medical devices. The use of laser technology in sensors offers advantages such as high light intensity, precision, and reliability, making it an essential component in the digital transformation and technological advancements across these sectors.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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