A laser is mainly used for gauging the distance covered by a particular object from the start to end. It can be likewise used to measure the thickness, width and height of any particular object using the method of triangulation. On the similar lines, in a laser displacement sensor, the laser is used as a light producing element. The market for laser displacement sensors is expected to experience an impressive growth due their increasing applications across domains such as machine tools, robotics and material handling among others. There is a growing demand for laser displacement sensors in the automobile and consumer electronics domains which is driving the market growth. Due to the fact that non-contact type of sensors have overcome their drawbacks of contact type displacement sensors, like disparity in measurements, swift wear and tear of the sensors and restricting target motion, they are now finding applications in sectors like defense and aerospace. Keeping these factors in mind, Market Research Reports Search Engine (MRRSE) has included a new report in its repository titled “Laser Displacement Sensor Market - Global Industry Analysis, Share, Size, Trends, Growth, and Forecast 2017 - 2025”.

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Global Market Forecast

As per the data provided in this research report, the global laser displacement sensor market was estimated to be valued at US$ 2,542.0 Mn in the year 2015 and it is forecasted that the market is poised to touch a value of US$ 5,201.4 Mn in the year 2025. The global laser displacement sensor market is forecasted to exhibit a CAGR of 7.6% during the assessment period of 2017 and 2025.

Market Taxonomy and Segmental Forecast

The global laser displacement sensor market is classified on the basis of range (300 mm) and on the basis of end-use industry (automotive, aerospace and defense, industrial, consumer electronics, others). The laser displacement sensors with greater than 300 mm range has the maximum market share as a large variety of sensors are accessible in this sector and this segment is anticipated to grow comparatively faster than compered to any other segment during the assessment period from 2017 till 2025.

As far as end-use industry is concerned, the automotive sector attained the biggest market share in the year 2016 and this sector is expected to lead the market in the coming years. This sector is slated to grow because of increasing automation demand in automobiles and increasing spending on vehicles. The automotive sector is the leading segment also due to the reason that most of the processes in the manufacturing of automobiles are now automated, and laser displacement sensors are used on a huge scale during such automated processes.

Regional Forecast

On the basis of region, the global laser displacement sensor market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa. The Asia Pacific region is forecasted to lead the global laser displacement sensor market and this region is forecasted to contribute a lion’s share in the global laser displacement market, trailed by the North America region. Emerging economies such as India and China and developed economies such as Japan are anticipated to play a definitive role in the Asia Pacific laser displacement sensor market. This is due to the fact that there is a robust presence of laser displacement sensors manufacturers in this region.

Competition Landscape

In this report, leading companies operating in the laser displacement sensor market have been profiled individually. Some of the featured companies include KEYENCE Corporation, MICRO-EPSILON, SICK AG, Banner Engineering Corp., Panasonic Corporation, Mechanical Technology, Incorporated, OMRON Corporation, TURCK GmbH Co. KG, ZSY group LTD and Cognex Corporation.

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