Published Date: 31-Aug-2022
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According to a new report, published by KBV research, The Global Laser Tracker Market size is expected to reach $920 million by 2028, rising at a market growth of 6.8% CAGR during the forecast period.
The Software market is experiencing a CAGR of 7% during (2022 - 2028). The software users use with 3D measurement equipment like laser tracker determines how accurate it will be. These software solutions can be bought outright or rented out for periods of an hour, day, week, or even several months. To meet the application needs, vendors in the market are providing a variety of solutions. Owing to this, the availability of a wide range the demand for laser trackers market is predicted to expand in the coming years.
The Quality Control & Inspection market is leading the Global Laser Tracker Market by Application in 2021; thereby, achieving a market value of $398.8 million by 2028. This is primarily because numerous manufacturing firms have adopted this technology to improve their quality control division and to satisfy client needs and specifications. Even if a machine is not in working order, it can still be used to accurately locate a part's position.
The Aerospace & Defense market is anticipated to witness a CAGR of 6.2% during (2022 - 2028). One of the biggest users of laser trackers is the aerospace industry, which was one of the first to adopt the technology. Aerospace companies value laser trackers for their portability, straightforward design, and exceptionally high levels of accuracy.
The North America market dominated in the Global Laser Tracker Market by Region in 2021; thereby, achieving a market value of $330.7 million by 2028. The Europe market is poised to witness a CAGR of 6.4% during (2022 - 2028). Additionally, The Asia Pacific market is exhibiting a CAGR of 7.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/laser-tracker-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of FARO Technologies, Inc., 3D Systems Corporation, Hexagon AB, Automated Precision, Inc., Mitutoyo Corporation, InnovMetric Software, Inc., PLX, Inc., Chotest Technology, Inc., VMT GmbH (Herrenknecht AG group of companies) and Hubbs Machine & Manufacturing, Inc.
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