Laser Displacement Sensor Market Expected to Surpass 3490 million by 2024 with Major Players as SICK, KEYENCE, Panasonic, COGNEX, Turck and More...

Laser Displacement Sensor Market

Laser displacement sensors and meters are comprised of a light-emitting element and a position sensitive detector (PSD) and detect targets using triangulation. A semiconductor laser is used as the light emitting element. A lens focuses the beam on the target. The target reflects the beam back through the lens where it is focused on the position-sensitive detector (PSD), forming a beam spot. The beam spot moves as the target moves. Displacement can be determined by detecting the movement of the beam spot.

Some of the leading Companies incorporated in this Research are SICK, KEYENCE, Panasonic, COGNEX, Turck, OMRON, ELAG, Micro-Epsilon, Acuity, MTI Instruments, BANNER, OPTEX, SENSOPART, ZSY, Sunny Optical.

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According to this study, over the next five years the Laser Displacement Sensor market will register a 8.6% CAGR in terms of revenue, the global market size will reach US$ 3490 million by 2024, from US$ 2140 million in 2019.

Technological Advancement:

The laser displacement sensor market is predicted to witness an exponential growth in the forthcoming years on the back of rising trend of industrial automation along with cost saving practices in quality control. This is leading laser displacement sensors to find application across a number of application areas such as robotics, machine tools, and material handling among others.

Apart from this, rising use of laser displacement sensors in consumer electronics and automotive sectors coupled with their rising demand from other industries is immensely benefitting the laser displacement sensor market, globally. At present, in the foreign industrial developed countries the laser displacement sensor industry is generally at a more advanced level, the world's large enterprises are mainly concentrated in Europe, USA and Japan. Meanwhile, foreign companies have more advanced equipment, strong R & D capability, the technical level is in a leading position.

In terms of volume, the global laser displacement sensor industry reached a sales volume of approximately 701.36 K Units in 2016, and is expected to reach 1243.2 K Units in 2022.

KEYENCE, SICK and Panasonic captured the top three sales share spots in the laser displacement sensor market in 2016. KEYENCE dominated with 24.46% sales share, followed by SICK with 121.06% sales share and Panasonic with 11.21% sales share.

There are major three classification of laser displacement sensor in this report, the measurement range of displacement sensor 300mm. Globally, the sales volume share of each type of laser displacement sensor is 19.46%, 36.93% and 43.61% respectively in 2016. The segment of more than 300mm range laser displacement sensors holds the leading market share amongst all segments based on range. This is because of an extensive number of sensors that are available in this segment.

Geography-wise, Asia Pacific is likely to exhibit the leading growth rate amongst all key regional markets for laser displacement sensor. The growth in the region is driven by the presence of a large number of manufacturing units in countries such as China, Japan, India, and South Korea. Asia Pacific is the largest consumption region of laser displacement sensor, with a consumption market share nearly 39.65% in 2016. The second place is North America; following Asia Pacific with the consumption market share over 26.83 % in 2016.

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