Portland, OR, March 13, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global safety laser scanner market garnered $436.7 million in 2021, and is estimated to generate $849.6 million by 2031, manifesting a CAGR of 6.9% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $436.7 million |
| Market Size in 2031 | $849.6 million |
| CAGR | 6.9% |
| No. of Pages in Report | 302 |
| Segments covered | Type, End use, and Region |
| Drivers | Rise in emphasis on safety in the workplace |
| Growth in industrial automation | |
| Technological advancement in the machine safety system | |
| Opportunities | Growing demand for industrial safety solutions in emerging economies |
| Restraints | High cost associated with the safety laser scanners |
Covid-19 Scenario:
- The COVID-19 pandemic had a negative impact on the safety laser scanner market, as the growth in manufacturing solutions declined due to a lack of professional workforce owing to the partial and complete lockdown implemented by governments across the globe.
- However, the rise in demand for machine safety systems and the Internet of Things solutions led to the growth of safety laser scanner systems and is expected to drive the growth of the safety laser scanner market during the forecast period.
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The research provides detailed segmentation of the global safety laser scanner market based on type, end use, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the stationary safety laser scanner segment accounted for the highest share in 2021, holding more than two-thirds of the global safety laser scanner market, and is expected to continue its leadership status during the forecast period. The same segment is estimated to grow at the highest CAGR of 7.2% during the forecast period. The report also analyzes the mobile laser scanner segment.
Based on end use, the automotive segment held the highest share in 2021, accounting for more than one-third of the global safety laser scanner market and is expected to continue its leadership status during the forecast period. The same segment is estimated to grow at the highest CAGR of 8.0% during the forecast period. The report also analyzes food and beverages, healthcare and pharmaceuticals, consumer electronics, and others segments.
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Based on region, North America held the largest share in 2021, contributing to more than one-third of the global safety laser scanner market and is expected to rule the roost in terms of revenue during the forecast period. On the other hand, the Asia-Pacific region is expected to manifest the fastest CAGR of 8.9% during the forecast period. The report also analyzes markets in Europe and LAMEA regions.
Leading market players of the global safety laser scanner market analyzed in the research include SICK AG, OMRON Corporation, HOKUYO AUTOMATIC CO.LTD, IDEC Corporation, Banner Engineering, PepperlFuchs SE, Arcus, KEYENCE CORPORATION, Hans Turck GmbH & Co. KG, Rockwell Automation Inc., Panasonic Corporation, and Leuze electronic GmbH Co. KG.
The report provides a detailed analysis of these key players of the global safety laser scanner market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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