Safety Laser Scanner Market is Predicted to Reach $849.6 Million by 2031, Growing at CAGR of 6.9%

Allied Market Research published a report on Safety Laser Scanner Market by Type, End Use, and Region: Global Opportunity Analysis and Industry Forecast, 2022-2031. The safety laser scanner market was valued at $436.72 million in 2021, and is estimated to reach $849.6 million by 2031, growing at a CAGR of 6.9% from 2022 to 2031.

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The growth of global safety laser scanners is majorly driven by technological advancement in machine safety systems coupled with the rise in emphasis on the workplace. Moreover, growth in industrial automation is expected to drive market growth.

However, the high cost associated with the safety laser scanners acts as a prime restraint for the growth of the global market. On the contrary, the surge in demand for industrial safety solutions in emerging economies is anticipated to provide lucrative opportunities for the safety laser scanner industry during the forecast period.

According to the safety laser scanner market analysis, the stationary safety laser scanner segment was the highest contributor to the market in 2021. The automotive and food & beverage collectively accounted for around 57.1% market share in 2021. The surge in prime players' initiatives to develop and deploy next-generation machine safety systems globally has led to the growth of laser scanner-based safety solutions; thereby, enhancing the safety laser scanner market growth during the forecast period of 2022-2031.

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The stationary safety laser scanner segment dominated the safety laser scanner market trends in 2021 and is expected to dominate the market during the forecast period. By end use, the automotive segment accounted for a major share of global safety laser scanner industry trends, owing to a surge in demand from emerging markets globally.

Competitive Analysis:

The company profile section of the Safety Laser Scanner Market report covers strategic developments, business overview, product offerings, and financial performance of the companies. It also highlights the strategies adopted by companies such as products launch, agreements, partnerships, acquisitions mergers, collaborations, joint ventures, research & development investment, and regional expansion in the past few years.

Some of the major key players of the global Safety Laser Scanner Market include,

• OMRON Corporation
• Panasonic Corporation
• SICK AG
• Keyence Corporation
• Hans Turck GmbH & Co. KG
• Hokuyo Automatic Co. Ltd
• Arcus
• Banner Engineering
• Leuze electronic GmbH Co. KG
• IDEC Corporation
• Pepper+Fuchs SE
• Rockwell Automation Inc

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Region-wise, North America holds a significant share of the global safety laser scanner market, owing to the presence of prime players in the region. U.S. dominated the safety laser scanner market in the North America safety laser scanner market.

The rise in investment by prime players and government agencies to develop next-generation machine safety solutions for the better workforce or labor safety across industrial sectors has led to the growth of the safety laser scanner market during the forecast period.

Key Findings of the Study

• In 2021, the stationary safety laser scanner segment accounted for maximum revenue and is projected to grow at a notable CAGR of 7.2% during the forecast period.

• The automotive segment was the highest revenue contributor to the safety laser scanner market size in 2021.

• The food & beverage and healthcare & pharmaceuticals segments collectively accounted for around 32.9% safety laser scanner market share in 2021.

• North America acquired a major share of the safety laser scanner market with an industry share of 5.7% in 2021.

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