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Rapid advancements and innovation in laser sensor technologies & emergence of industry 4.0 and smart manufacturing are key factors driving market revenue growth

VANCOUVER, BC, CANADA, November 15, 2022 /einpresswire.com / -- The global laser sensor market size was USD 652.2 Million in 2021 and is expected to register a revenue CAGR of 10.09% during the forecast period, according to the latest analysis by Emergen Research. Growing advancements in laser sensor technologies and increasing demand for laser sensors in the food & beverages industry are major factors projected to support market revenue growth between 2021 and 2030. The food & beverage industry uses a wider spectrum of laser sensors to measure natural items in three dimensions and analyze surface of processed products. Through laser technology, government initiatives focus on downsizing of sensor technologies and extensive IoT integration to monitor processes virtually, which are expected to open up new avenues for laser sensor business. For example, Food and Drug Administration (FDA) approved LLT100 laser level transmitter sensor made with polycarbonate and stainless steel. It is a level-measuring device without contact, which was created for industrial applications and hostile settings.

Emergen Research has published a new market research report titled Global Laser Sensor Market Forecast to 2028 comprising statistical data represented in tables, pie charts, graphs, and figures to aid in easy understanding of the market. The research report provides a comprehensive assessment of the market and provides a futuristic perspective about the market trends, growth factors, facts, and industry validated market data. It provides an in-depth assessment of market size, market share, revenue growth, along with a comprehensive analysis of the competitive landscape with extensive profiling of the key competitors. Rising investments and technological advancements are expected to significantly drive the growth of the market throughout the forecast period.

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Some Key Highlights From the Report
The ultra-compact laser sensors segment accounted for a significant revenue share in 2021. These sensors are user-friendly and have integrated controllers, making it possible to install them in machinery, plants, and other tight spaces. This sensor's lightweight makes it suited for high acceleration applications such as robot grippers or commercial printers. Ultra-compact laser sensors are also perfect for taking exact measurements of displacement, distance, and position in a wide range of automation-related applications, including machine construction and 3D printing, which is expected to drive revenue growth of this segment.

The consumer electronics segment is expected to register a rapid revenue CAGR during the forecast period. Smartphones, tablets, and AI-assisted devices are all growing quickly in the consumer electronics market, which is expected to drive revenue growth of this segment.

The North America market accounted for largest revenue share in 2021. Rising demand for advanced and compact laser sensors from the aerospace & defense industry is contributing to revenue growth of the market in this region.

On 01 June 2020, SPL S1L90A and SPL S4L90A lasers from Osram Opto Semiconductors are now available from Mouser Electronics, Inc., the industry's top New Product Introduction (NPI) distributor with largest assortment of semiconductors and electronic components. High-power infrared SMT components have a laser wavelength of 905 nm, making them appropriate for use in Light Detection and Ranging (LiDAR) applications and autonomous cars.

The report offers a comprehensive overview of the competitive landscape and covers company profiles, production and manufacturing capacity, product portfolio, expansion strategies, and business initiatives such as mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches and brand promotions among others. It also offers key insights into financial standing, market reach, global position, gross profit margins, and investment and funding initiatives.

Major Players/Manufacturers profiled in the report are:

Micro-Epsilon, Keyence Corporation, MTI Instruments Inc., Rockwell Automation, Inc., Optex Co., LTD., SmartRay GmbH, Schmitt Industries Inc., LAP GmbH Laser Applikationen, Laser Technology, Inc., Balluff Automation India Pvt. Ltd., and OMRON Corporation.

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Emergen Research has segmented the global laser sensor market based on type, size, component, application, end-user, and region:

Type Outlook (Revenue, USD Million; 2019–2030)
Laser Distance Sensors

Displacement Sensors

Laser Projectors

Laser Photoelectric Sensors

Laser Edge Detection Sensors

Positioning Lasers

Others

Size Outlook (Revenue, USD Million; 2019–2030)
Compact

Ultra-compact

Component Outlook (Revenue, USD Million; 2019–2030)
Hardware

Software & Services

Application Outlook (Revenue, USD Million; 2019–2030)
Process Monitoring

Security and Surveillance

Quality Control

Motion and Guidance

Manufacturing Plant Management

Distance Measurement

Others

End-use Outlook (Revenue, USD Million; 2019–2030)
Aerospace & Defense

Consumer Electronics

Automotive

Food & Beverages

Healthcare

Chemical

Others

Regional Analysis:

The report sheds light on the region expected to dominate the Laser Sensor market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Laser Sensor market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.

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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Laser Sensor market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Laser Sensor market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.

Key Benefits of the Report:

Comprehensive analysis of the competitive scenario and its changing dynamics

Analytical data with detailed SWOT analysis and Porter's Five Forces analysis

In-depth 8 year analysis of the Global Laser Sensor Market

Critical assessment of the key market segments

Comprehensive analysis of the drivers, restraints, trends, and opportunities

Detailed regional analysis and extensive company profiling

Extensive assessment of current and emerging trends of the market

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Thank you for reading our report. The report can be customized according to the requirements of the clients. Please get in touch with and our team will ensure the customization is as per your needs.

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
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