In recent years significant improvement has been achieved by the use of next generation lased based measurement technology in various application such as nuclear power, aerospace and the application of defense.
Based on component, the next generation laser based measurement market is segmented into CMOS laser sensor, digital laser sensor and others. Among various product types, in 2016, the digital laser sensor segment dominated the next generation laser based measurement market and expected to be the same in the upcoming years. Growing demand from end-user industries is the major factor boosting the market for the next generation laser based measurement.
Based on application, the next generation laser based measurement market is segmented into military, industrial automation, scientific research, naval and others. Among various applications, in 2016, the military segment dominated the next generation laser based measurement market followed by industrial automation and is expected to be the same in coming years. Land based inspection technology is one of the major factor boosting military segment in next generation laser based measurement market.
One of the major factors boosting the market for the next generation laser based measurement market is inspection of various mortar systems such as 120mm, 81mm and 60mm among others. Increasing usage of next generation laser based measurement in various applications such as aerospace and energy among others is key factor boosting the market for the next generation laser based measurement market.
By geography, the next generation laser based measurement market has been classified into five regions namely North America, Europe, Asia-Pacific, Middle East and Africa and Latin America. In 2016, North America holds the largest market share in the next generation laser based measurement market followed by Europe, Asia Pacific, Middle East & Africa and Latin America. However, in 2025 Asia Pacific will be the largest market for next generation laser based measurement market followed by North America. The APAC region is also estimated to grow at a high CAGR during the forecast period. In 2016, China is anticipated to be the major market in Asia Pacific. China held the largest share for the next generation laser based measurement market in Asia Pacific in 2015. It is also expected to experience healthy growth in the coming years. Border problems among several countries in Asia Pacific such as India, China and Pakistan among others are making countries to enhance their military segment, which in turn boosting the demand of next generation laser based measurement market. In addition, the use of industrial automation in countries such as China, Japan and South Korea are estimated to boost the market for the next generation laser based measurement market in Asia Pacific. In 2016, the U.S. is the key market for the next generation laser based measurement in North America as well as globally. Technological advancements of theCMOS laser sensor and digital laser sensor is one of the major factor boosting the market for next generation laser based measurement market during the forecast period. Middle East and Africa is expecting to grow at a healthy rate during the forecast period of 2017 – 2025 due to increase in the use of industrial automation in various application such as energy and power system among others. Brazil is the key market for the Latin America next generation laser based measurement market due to increase in the demand in industrial automation and scientific research among others.
Some of the major players in the next generation laser based measurementmarket include are Prime Photonics LC (United States), MTI InstrumentsInc (United States), JENOPTIK AG (Germany), IfmElectronic GmbH (Germany), Keyence Corporation (Japan), Laser Technology, Inc. (United States), Omron Corporation (Japan), BayspecInc (United States), Banner Engineering Corp. (United States) and Schmitt Industries, Inc (United States) among others.
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