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Handheld Laser Meter Market Report 2024 - Handheld Laser Meter Market Demand And Growth
Handheld Laser Meter Market
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According to The Business Research Company's, The handheld laser meter market size has grown strongly in recent years. It will grow from $4.42 billion in 2023 to $4.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period can be attributed to increased investment in research and development activities, increased use of laser sensors, rise in diverse industries, increased population, increased regulations and standards in industries.
The handheld laser meter market size is expected to see strong growth in the next few years. It will grow to $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increasing consumer demand, rising demand for precision in construction, increased focus on infrastructure development, growing real estate and interior design sectors, increasing energy-efficient solutions. Major trends in the forecast period include technological advancements in laser measurement, digitalization and integration with smart devices, collaboration with e-commerce platforms for increased market reach, integration of augmented reality (ar) for enhanced functionality, development of handheld laser distance meter products.
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Market Drivers and Trends:
The increasing spread of hospital-acquired infections (HAIs) is expected to propel the growth of the disinfection robot market going forward. Hospital-acquired infections refer to infections that patients acquire while receiving treatment in a healthcare facility, such as a hospital or clinic. The increasing number of hospital-acquired infections (HAIs) are occurring due to antibiotic resistance, inadequate infection control practices, overcrowding in healthcare facilities, and the presence of virulent pathogens in hospital environments. Disinfection robots aid in mitigating the risk of hospital-acquired infections (HAIs) by providing efficient and thorough sanitization of healthcare environments, enhancing patient safety, and reducing the incidence of healthcare-associated infections. For instance, in January 2024, according to the NHSN's HAI Progress Report published by the Centers for Disease Control and Prevention (CDC), a US-based public health agency, there was a 4% rise in the surgical site infection ratio (SIR) across all NHSN operative procedure categories compared to the previous year. Therefore, the increasing spread of hospital-acquired infections (HAIs) drives the disinfection robot market.
Major companies operating in handheld laser meters are developing innovative products such as compact laser distance meters to meet the growing demand for portable, high-precision measurement solutions across industries. Compact laser distance meters are valuable tools for professionals and DIY enthusiasts, offering convenience, accuracy, and versatility for various measurement tasks. For instance, in May 2024, Fluke Corp., a US-based company that manufactures handheld laser meters, launched the 417D, a compact laser distance meter. This meter provides instant distance measurements up to 131 feet (40 meters) with an accuracy of 0.08 inches to drive accuracy, extend measurement ranges, and improve user-friendliness, enabling the development of more precise, versatile, and efficient devices. This compact handheld device is used for indoor and outdoor settings with a powerful laser that guarantees precise tracking of targets, even in challenging locations or at considerable distances. Withstanding a one-meter drop and boasting an IP54 rating for dust and water resistance, the 417D laser distance meter proves ideal for demanding work environments.
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Major Key Players of the Market:
Robert Bosch GmbH, Danaher Corporation, Stanley Black & Decker Inc., Hilti Corporation, Makita Corporation, Bosch Power Tools, Fluke Corporation, Teledyne FLIR LLC, Hexagon AB, Nikon Corporation, Trimble Inc., Topcon Corporation, Spectra Precision, Leica Geosystems AG, Faro Technologies Inc., Cole-Parmer India Pvt. Ltd., L.S. Starrett Company, Transact Inc., Zircon Corporation, Acro Enterprise, Mileseey Technology Co. Ltd., Precaster Enterprises Co. Ltd., Prexiso AG, Stabila Inc, Entek Engineering LLC
Handheld Laser Meter Market 2024 Key Insights:
• The handheld laser meter market size is expected to see strong growth in the next few years. It will grow to $6.55 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
• Handheld Laser Meter Market Poised For Growth Driven By Booming Construction And Real Estate Sectors
• Innovative Solutions In Laser Measurement Major Companies Transforming Handheld Laser Meter Market
• North America was the largest region in the handheld laser meter market in 2023
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