Laser Displacement Sensor Market to Reach US$ 7,237.92 Mn by 2030 - Coherent Market Insights

The Global Laser Displacement Sensor Market, by Range (Less than 100 mm, 100 mm – 300 mm, and More than 300 mm), by End-use Industry (Automotive, Aerospace and Defense, Industrial, Consumer Electronics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2030”, is expected to be valued at US$  7,237.92 Million by 2030, exhibiting a CAGR of 7.9 % during the forecast period (2022-2030), as highlighted in a report published by Coherent Market Insights.

A displacement sensor is typically utilized to measure the travel range between where an object is and a reference position. Laser displacement sensors are used for dimension measurement to determine an object’s width, height, thickness, diameter, vibration, flatness, deflection and decentering, etc. In a laser displacement sensor, a lens focuses the beam on the target that reflects the beam back through a lens where it is concentrated on the position-sensitive detector (PSD). The global laser displacement sensor market focuses on six regions namely North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

The global laser displacement sensor market accounted for US$ 3,720.0 Mn in terms of value in 2021 and is expected to grow at a CAGR of 7.9 % for the period 2022-2030.

Key Developments

In September 2022, the sensor manufacturer Sick AG unveiled the OD2000, a next-generation sensor with a measuring range of 1,200 mm and a frequency of up to 7.5 kHz. The sensor also includes an IO-Link as standard and will provide a solution for positioning and quality control tasks in robotics and automated food processing and packaging equipment.

Global Laser Displacement Sensor Market - Impact of Coronavirus (Covid-19) Pandemic:

The COVID-19 pandemic has had a negative impact on the laser displacement market globally. As robotics makes extensive use of displacement sensors because they can reliably detect objects at particular distances and measure the size of every object that comes into contact with the sensor.

Additionally, the pandemic caused financial issues in the food and beverage and robotics production sectors, which led to the suspension of numerous new projects and a consequent decline in laser displacement sensor sales. As a result, during the epidemic, the global market for laser displacement sensors witness slow growth.

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https://www.coherentmarketinsights.com/market-insight/laser-displacement-sensor-market-3725

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Key Trends and Analysis of the Global Laser Displacement Sensor Market:

• As compared to other regions, the Brazil automation market is small though it is constantly expanding. Moreover, industrial automation is expected to boost the regional market in the near future.
• Middle East & Africa has significant potential in the global laser displacement sensor market, as it is widely employed in the industrial sector. The regional industrial sector is expanding rapidly. Moreover, laser displacement sensors are far more accurate than conventional sensors and hence, they are used in controlling, sorting, and inspection tasks in quality control workflows and processes.
• Laser displacement sensor is widely adopted in various sector in Asia Pacific. Manufacturers are launching the latest technology-enabled laser displacement sensors due to technology proliferation. For instance, KEYENCE launched CCD Laser Displacement Sensor, ultra-high-speed, high-precision laser displacement proficient of measuring almost any surface type. It is employed in the healthcare industry in order to measure the body's surface motion induced by heartbeat.
• Major players operating in the global laser displacement sensor market are Panasonic Corporation, Micro-epsilon, Sick AG, Hans Turck GmbH Co. KG, Omron Corporation, Banner Engineering Corp., Keyence Corporation, Cognex Corporation, ZSY Group Ltd, and Mechanical Technology, Inc.