According a report by MarketsandMarkets, the laser-tracker market is expected to grow from $290.9 Million in 2018 to $521.6 Million by 2023, at a CAGR of 12.39% between 2018 and 2023. High accuracy, precision, and portability, along with technological advancements in distance measurement technology and improvements in processing speed are driving demand. Automation of robotic systems is also expected to encourage growth.
- Quality control & inspection dominated the overall laser tracker market in 2017
- Laser tracker market for automotive to grow at highest CAGR during forecast period
- Laser tracker market in APAC to grow at highest CAGR during forecast period
- Major players in the laser tracker market include Faro (US), API (US), and Hexagon (Sweden). Some of the other companies operating in the laser tracker market are VMT GmbH (Germany), On-Trak Photonics Inc. (US), SGS (Switzerland), Variation Reduction Solutions, Inc. (US), Brunson Instrument Company (US), Hubbs Machine and Manufacturing Inc. (US), and PLX Inc. (US).
For more insights, browse the “Laser Tracker Market” report.