Laser Displacement Sensor Market

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2. LASER DISPLACEMENT SENSOR MARKET ANALYSIS 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) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

3. Market Overview • The global Laser Displacement Sensor Market was accounted for US$ 3,330.9 MNin terms of value in 2019 and is expected to grow at CAGR of 7.6% for the period 2019-2027

4. Market Dynamics- Drivers • Increasing demand for automation in numerous sectors is expected to drive growth of the global laser displacement sensor market during the forecast period • Cost-efficiency and wide range of applications offered by laser sensors are expected to propel the global laser displacement sensor market growth over the forecast period

5. Figure .1 Market Share

6. Market Dynamics- Restraints • Complexities involved in the use of these sensors are expected to restrain growth of the global laser displacement sensor market during the forecast period • High initial price and high maintenance costs are expected to hinder the global laser displacement sensor market growth over the forecast period

7. Market Opportunity • Rising acceptance of non-contact type sensors can offer major business strategies • Increasing need for high-speed precision control can present lucrative growth opportunities

8. Figure 2. Market – Opportunity Analysis

9. Market Trends • North America Trends In North America, laser displacement sensors are being employed by industrial robots as a measuring tool. According to Robotic Industries Association (RIA), the robotics market in North America registered record orders and shipments in 2015. • Europe Trends According to Coherent Market Insights’ analysis, Europe holds a dominant position in the global automotive manufacturing industry. 

10. Figure 3.Market Segmentation

11. Competitive Section • Key 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.

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