Global Laser Measuring Instrument Market – Introduction
- Laser measuring instrument is a device that provides default area, real-time length, volume, length, and indirect measuring functions which can be used in any measurement process.
- Laser measuring instruments can also be connected to tablets or smartphones via Bluetooth connectivity, enabling transfer measurements onto images. Besides this, laser measuring instruments can illuminate numbers in dark areas with distinct resolution, which can work in no-light or low-light situations.
- Laser measuring instruments can scan in three modes: quick scan recording, quick scan detection, and images scan, which can scan 3-D and 2-D data visualization with cross-sectional views and top view.
- Laser measuring instruments are small handheld instruments, which are lightweight and easy to use. In addition to it, it has longer lasting batteries that provide quick, reliable and multiple measurements.
- Laser measurement instruments are used to facilitate accurate mapping of square design, parking lots, construction sites, and other countless areas in order to assess the gap between pump line and piping runs
- Laser measuring instruments are also used to measure heights where alternative measuring methods fail to deliver exact and accurate measurement. These instruments can also calculate volume for adequate planning of heating and ventilation systems in order to determine the surface area of floors, walls, and ceilings.
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Global Laser Measuring Instrument Market – Dynamics
Key Drivers of Laser Measuring Instrument Market
- The global laser measuring instrument market is projected to expand in the near future, due to the growth in the global automotive industry in developed and developing countries
- Rise in need for precise measuring equipment and tools for evaluation in semiconductor industry is expected to fuel the global laser measuring instrument market
- Increase in demand for inspection of defects and cracks in underground pipes and pipe lines in oil & gas and petrochemical industries is one of the major factors estimated to drive the laser measuring instrument market over the next few years
- Growth in usage of laser measuring instrument in health care and manufacturing industries is likely to boost the demand of laser measuring instrument across the world
- Laser measuring instruments are rapidly replacing their traditional counterparts such as measurement tapes in different industries. This is one of the factors likely to drive the global demand for laser measuring instruments across the globe.
- Rise in demand for laser measuring instruments in the construction industry, owing to the importance of getting accurate measurements right for the first time with high efficiency, and safety is likely to propel the demand for global laser measuring instruments
Restraint of Laser Measuring Instrument Market
- Laser measuring instrument is widely used in different industries to get accurate measurements, although they are extremely expensive. Thus, high cost is one of the negative factors hampering the global laser measuring instrument market across the globe. Due to this, the customers are preferably choosing for its alternative i.e., ultrasound distance meters.
North America to Hold Significant Share of Global Laser Measuring Instrument Market
- North America is anticipated to constitute significant share of the global laser measuring instrument market during the forecast period, due to industrialization and expansion in the oil & gas industry in the region
- Manufacturing industries in developed and developing countries are focusing on manufacturing components and parts using laser measuring instrument machine in less time and efforts, and with accurate measurements. This, in turn, is one of the major factors driving the global laser measuring instrument market in the next few years.
- The laser measuring instrument market in Asia Pacific is expected to expand significantly, due to the industrial growth and increase in construction activities in the region.
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Global Laser Measuring Instrument Market –Competition Landscape
Key Players Operating in Global Market
The global laser measuring Instrument market is highly concentrated with the top manufacturers accounting for approximately 35% to 40% share. Key players operating in the global laser measuring instrument market include:
- Stanley Black & Decker, Inc.
- PCE Instruments
- Robert Bosch Tool Corporation
- Leica Camera AG
- KEYENCE Corporation
- Shenzhen Globalebuy CO., LTD.
- Hilti Corporation
- Johnson Level & Tool Mfg. Co., Inc.
In June 2018, Robert Bosch Tool Corporation announced GLM400C connected laser measuring instrument, which is the new Bosch BLAZE Outdoor measuring instrument, is available with the camera and viewfinder. It has some unique features such as default real-time measuring, indirect measuring functions for areas, length, and volume along with a display guide.
Global Laser Measuring Instrument Market – Research Scope
The global Laser Measuring Instrument Market can be segmented based on:
- Distribution channel
Global Laser Measuring Instrument Market, by Measurement
Based on measurement, the global laser measuring Instrument Market can be divided into:
- Under 100 Feet Distance
- 100-199 Feet Distance
- 200-299 Feet Distance
- 300-399 Feet Distance
- 600-699 Feet Distance
- 800-899 Feet Distance
Global Laser Measuring Instrument Market, by Operation
In term of operation, the global laser measuring instrument market can be classified into:
Global Laser Measuring Instrument Market, by Distribution Channel
In terms of distribution channel, the global Laser measuring instrument market can be classified into:
- Direct Sale (OEM)
- Indirect Sales
Global Laser Measuring Instrument Market, by Application
Based on application, the global laser measuring instrument market can be categorized into:
Global Laser Measuring Instrument Market, by Industry
In terms of industry, the global laser measuring instrument market can be divided into:
- Chemical Processing
- Defense & Aerospace
- Oil & Gas
- Consumer goods
Global Laser Measuring Instrument Market, by Region
Based on region, the global Laser Measuring Instrument Market can be split into:
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.