In November 2018, LAP GmbH Laser Applikationen Introduced a New Camera System for the Market

Strong evolution of industry 4.0 in manufacturing applications, operations, processes and others are supporting the market growth. Manufacturers are becoming more techno-savvy to boost the plant production capacity, which is helping the market grow significantly. Rising digital transformation, advanced controls and others are accelerating the manufacturing plant's adoption of laser projection systems.        

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The global laser projection systems market is expected to reach USD 1,817.20 million by 2027 from USD 631.24 million in 2019, growing with the healthy CAGR of 14.2% in the forecast period of 2020 to 2027. Major factors driving the market growth are the rising adoption for the production improvement application and the significant advantages of laser projectors over traditional projection methods. The threat of substitute technology and the strong hold of the traditional projection methods acts as a major restraint for global laser projection systems market.          

Laser Projection Systems Market

The adoption of technology owing to its features across the world will drive the market's growth rate

Laser projection system is helping manufacturing industries to enhance the operations, processes, and quality of product for customers. Industrial verticals such as automotive, railway, construction, medical, and shipbuilding are witnessing production efficiency through the laser projection system, which further supplements the market growth.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2020 to 2027

Base Year

2019

Historic Years

2018 (Customizable to 2013 - 2018)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

Type (CAD Laser Projector Systems and Laser Projector System), Component (Hardware, Software and Services), Dimensional Type (2D and 3D), Power Range (5MW-10MW,11 MW-30 MW and Above 30MW), Technology (Augmented Reality, Light Signal and Speech Instructions  and Others), Application (Composite Lay-Ups, Interior Assembly, Welding, Guided Assembly, Prefabricated Construction, Picking & Assembly, Component Recognition, System Evaluation, Sequencing, and Others), End-User (Composite, Aerospace & Defense, Automotive & Heavy Equipment, Logistics, Shipbuilding & Energy, Construction & Rigging, Medical, Steel Industry, Wind Industry, Railway, Paper, and Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

FARO Technologies, Inc. (U.S.), Met Optix (Australia), LAP GmbH Laser Applikationen (Germany), ALIGNED VISION (England), Virtek Vision International (Canada), Z-LASER GmbH (Germany), SL-Laser GmbH (Germany), HUTCHINSON MANUFACTURING (U.S.), asphericon GmbH (Germany), Assyst Bullmer (U.K.), Carter Products Company, Inc. (U.S.), Laserglow Technologies (Canada) and OPS Solutions LLC (U.S.) among others.             

Data Points Covered in the Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Segment Analysis:

Global laser projection systems market is segmented into seven notable segments on the basis of type, component, dimensional type, power range, technology, application and end-user.

  • On the basis of type, global laser projection systems market has been segmented into CAD laser projection systems and laser projector system. In 2020, CAD laser projection systems segment is expected to dominate the market with 65.2% market share owing to major demand for production application. The CAD laser projection systems offers the improved efficiency at production processes for the customers owing to which manufacturers are adopting the CAD laser projector system.
  • On the basis of component, global laser projection systems market has been segmented into hardware, software and services. In 2020, hardware segment is expected to dominate the market with 50.2% market share owing to the rising demand for advanced component to enhance the projection accuracy and visibility. The increasing demand for the hardware components to optimize the system and make compatible with advanced technology such as 3D, CAD, CATIA and others is further accelerating the segment growth.
  • On the basis of dimensional type, global laser projection systems market has been segmented into 3D and 2D. In 2020, 3D segment is expected to dominate the market with 76.2% market share as it has major adoption owing to better projection of the final product outlook. The 3D laser projection system offers the enhanced view for the manufacturing application by predicting the final projection or outlook of the product, driving the demand of 3D segment.
  • On the basis of power range, global laser projection systems market has been segmented into 5MW-10MW, 11 MW-30 MW and above 30MW. In 2020, 5MW-10MW segment is expected to dominate the market with 42.3% market share owing to the low operational cost. The increasing demand for the low power range product to increase productivity further accelerates the segment growth.
  • On the basis of technology, global laser projection systems market has been segmented into augmented reality, light signal or speech instructions and others. In 2020, augmented reality segment is expected to dominate the market with a 51.4% market share owing to the ease of operation for employees. Increasing demand for augmented reality solutions in manufacturing industries for better visualization and guidance further accelerates the segment growth.
  • On the basis of application, global laser projection systems market has been segmented into composite lay-ups, interior assembly, welding, guided assembly, prefabricated construction, picking & assembly, component recognition, system evaluation, sequencing and others. In 2020, composite lay-ups segment is expected to dominate the market with 22.81% market share owing to the adoption for the composite material processing application. Increasing demand for the composite part processing solution in manufacturing industries is further accelerating the segment growth.

The composite lay-ups segment will dominate the application segment of the laser projection systems market

The composite lay-ups segment will emerge as the dominating segment application segment. This is because of the growing awareness about laser projection systems in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

  • On the basis of end user, global laser projection systems market has been segmented into composite, aerospace & defense, automotive & heavy equipment, logistics, shipbuilding & energy, construction & rigging, medical, steel industry, wind industry, railway, paper and others. In 2020, composite segment is expected to dominate the market with 20.2% market share   wing to the increasing use of the composite material in manufacturing industries such as automotive, railway, ship and other industries. Increasing demand for the composite part processing solution in manufacturing industries is further accelerating the segment growth.

The composite segment will dominate the end user segment of the laser projection systems market

The composite segment will emerge as the dominating segment under end user with approximately 20.00% market share. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the semiconductors industry all around the globe will further bolster the growth of this segment.

Major Players

Data Bridge Market Research recognizes the following companies as the market players in laser projection systems market: FARO Technologies, Inc. (U.S.), Met Optix (Australia), LAP GmbH Laser Applikationen (Germany), ALIGNED VISION (England), Virtek Vision International (Canada), Z-LASER GmbH (Germany), SL-Laser GmbH (Germany), HUTCHINSON MANUFACTURING (U.S.), asphericon GmbH (Germany), Assyst Bullmer (U.K.), Carter Products Company, Inc. (U.S.), Laserglow Technologies (Canada) and OPS Solutions LLC (U.S.).

Laser Projection Systems Market

Market Development

  • In September 2019, Virtek Vision International, a laser projector manufacturing company introduced their new projector product for the market. The company introduced a new Iris 3D Laser Projection System at the CAMX 2019, offering a centralized computer through client-server architecture.
  • In November 2018, LAP GmbH Laser Applikationen introduced a new camera system for the market. The company introduced new DTEC-PRO camera system compatible with PRO-SOFT 5.1 control software and CAD-PRO laser projection systems. Through this, the company has enhanced their product portfolio for the market.
  • In February 2019, LAP GmbH Laser Applikationen introduced DTEC-Pro camera-aided laser projection. This system can be used in aviation, automotive and other industries, it is equipped with ring flash and infrared camera. This exhibition helped the company to reach maximum number of potential customers across the globe.
  • In September 2019, LAP GmbH Laser Applikationen launched Assembly Pro assistance system for digital assembly in Industry 4.0. The main features of this system is that it help reducing time and minimizes errors in manual assembly processes. This product launch helped the company to cater to more customers.

Regional Analysis

Geographically, the countries covered in the laser projection systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

Asia-Pacific is the dominant region in laser projection systems market during the forecast period 2020 - 2027

The demand for laser projectors in stadiums, amusement parks, and public spaces in developing nations such Japan, China, and South Korea accounts for the greatest market share and drives the market's expansion. The market for laser projectors is expanding as a result of technological advancements like 4K and 8K laser projection.

North America is estimated to be the fastest-growing region in laser projection systems market the forecast period 2020 - 2027

In addition, it is anticipated that North America would see the quickest rate of growth in the global market due to rising consumer awareness of high-brightness laser projectors. The use of laser projectors in classrooms and institutions has improved learning environments, which has boosted market expansion in this area.

COVID-19 Impact

A laser projector is a tool that uses projected laser beams to create moving images on a screen. The leisure and educational sectors use these projectors the most. In March 2020, the World Health Organization (WHO) designated COVID-19 to be a pandemic due to its widespread incidence. Governments have implemented lockdowns everywhere to stop the virus's spread. Due to this circumstance, businesses and manufacturing sectors are shut down, while schools, universities, theatres, and all other public spaces are temporarily closed.

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