Safety Laser Scanner Market Expected to Reach $401.2 Million by 2026

(IT-NEWSWIRE.COM, August 14, 2021 ) Safety Laser Scanner Market is expected to reach $401.2 million by 2026 at a CAGR of 6.3% during the forecast period 2021-2026. Growing concerns for the safety of workers and machines, increasing demand for safety laser scanners for logistics and packaging operations in manufacturing facilities are driving the safety device market, especially those using infrared laser beam technology.

In addition, growing advancements in laser scanner by companies drive the market growth. In 2019, Sick had launched outdoor safety laser scanner which allows automated guided vehicle systems to navigate safely through outdoor industrial environments. Hence all these factors are highly responsible for the market growth in the forecast period 2021-2026.

Safety Laser Scanner Market Segment Analysis - By Product Type

Mobile Safety Laser Scanners are growing at the highest CAGR of 8.2% in the forecast period due to increased adoption across automotive, electronics, healthcare, pharmaceutical end-user industries. Mobile Safety Laser Scanner in the healthcare sector is used to improve patient safety and experience. In addition these safety laser scanners are used extensively in the pharmaceutical manufacturing industry where the implementation of infrared laser beam based safety devices is extensive. Moreover it also plays a critical role in the optimization of warehousing, packaging, and logistics operations in manufacturing facilities. For instance, safety laser scanners are used in autonomous monitoring vehicles, or movable service robots for industrial use in the pharmaceuticals sector for collision avoidance while logistics operations are being executed. Hence these factors drive the market growth in the forecast period 2021-2026.

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Safety Laser Scanner Market Segment Analysis - By Industry

Safety laser scanner in automotive industry is growing at highest CAGR of 8.5% in the forecast period 2021-2026. Safety laser scanners are extensively being adopted by the automotive industry due to the increasing use of automatic guided vehicles (AGVs). In manufacturing facilities such as semi-automatic painting, the machine requires the frequent entry of operators to move out of the painted parts. In such cases, an advanced safety laser scanner enables two-way protection to the machine allowing entry to the operator for replacing the finished part and simultaneously protecting the area where it is working on another part. Over the years, automotive manufacturers across the world have been making expansions in their production capacities. For instance, BMW announced its expansion in its South Carolina plant for manufacturing 1400 X3 through X7 models each day. Similarly, Toyota is also having expansion in Sao Paulo, Brazil by spending over USD 230 million to produce existing Etios and Yaris models with some new vehicle models. Hence these expansions increase the market growth in the forecast period 2021-2026.

Safety Laser Scanner Market Segment Analysis - By Geography

The Safety Laser Scanner market in APAC region as held significant market share of 34.1% in the forecast period. Recently, China has been facing a rise in labor wages and tighter regulations resulting in higher operating cost for the manufacturing companies. The robotics sector in the region has been witnessing significant growth over the years. According to the report given by IFR, it is estimated that China, Japan, and South Korea cumulatively account for over 67% of industrial robots shipments in 2019 globally. Additionally, the government initiatives like Make in India, are encouraging the industrial sector in the region, which is estimated to drive the demand for infrared laser beam-based safety devices in the forecast period. Moreover in OSHA (Occupational Safety and Health Act) to govern safety at the workplace and have pushed a fine of over USD 9,000 on violation. Such a move by the governments is expected to drive the adoption of safety laser scanners to meet the safety compliance by the companies.

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Safety Laser Scanner Market Drivers

Advancements in Safety Laser Scanner

Technological advancements in Safety Laser Scanner is analyzed to drive the market growth in the forecast period. Several companies are investing heavily for the advancements in safety laser scanners. In 2019, the pioneer of developing safety laser scanner SICK AG, launched its latest model of safety laser scanner outdoorScan3 for outdoor applications in AGVs. With this development, the company has opened huge opportunities for automating and increasing the efficiency of intralogistics production processes with a vision of a self-managed value chain in the spirit of industry 4.0. In 2020, SICK had launched nanoScan3 ultra-compact 2D safety laser scanner. The nanoScan3 combines smart safety functions with measurement data quality for accurate and reliable localization. In 2019, Pilz had launched PSENscan safety laser scanner that safely monitors up to three separate zones simultaneously, offering the potential to increase plant productivity significantly. Hence these growing innovation-led product launches are analyzed to drive the market growth in the forecast period 2021-2026.

Rising Adoption of Safety Laser Scanner for Safeguarding Machines in Industries

One of the major driving factor for the growth of global safety laser scanner market is increasing adoption of infrared laser beam based safety devices in industrial automation. In industrial automation, there are huge number of machine working on assembly lines. In order to safeguard machines, laser safety scanners are widely used due to their versatility. The scanners can be mounted vertically or horizontally to cover various types of hazards. Moreover, the sensor detects are mounted on an automated guide vehicle to reduce risk of accidents with objects or people. Additionally, the scanner prevents hazards from operating when a person or an object is in dangerous area. Owing to these advantages safety laser scanner are increasingly used in industrial automation applications. As a result of this, rising adoption of safety laser scanner in industrial automation for safeguarding of machines is expected to drive the market during forecast period.

Safety Laser Scanner Market Challenges

High cost and alternative product

Although safety laser scanner market is growing at a rapid pace high cost associated with this scanner hampers the market growth. In addition, safety mats offering similar protective solutions for some of the industries acts as a major factors among others that hampers the market growth in the forecast period 2021-2026.

Safety Laser Scanner Market Landscape

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Safety Laser Scanner market. In 2020, the market of Safety Laser Scanner industry outlook has been fragmented by several companies. Safety Laser Scanner top 10 companies include Arcus Automation Private Limited, Banner Engineering, Datalogic S.P.A., Hans Turck GmbH & Co. Kg, Hokuyo Automatic Co., Ltd., IDEC Corporation, Keyence Corporation, Leuze Electronic GmbH + Co. Kg, LKH Precicon Pte. Ltd., Omron Corporation among others.

Acquisitions/Product Launches

In January 2019, SICK had launched next-gen microScan3 Safety Laser Scanner, The microScan3 is the first safety laser scanner to use SICK’s patented scanning technology, safeHDDMTM (High Definition Distance Measurement), based on advanced time of flight measurement.

Key Takeaways

Safety laser scanner in automotive industry is growing at highest CAGR of 8.5% in the forecast period 2021-2026, as they are extensively being adopted by the automotive industry due to the increasing use of automatic guided vehicles (AGVs).

Mobile Safety Laser Scanner are growing at the highest CAGR of 8.2% in the forecast due to increased adoption across automotive, electronics, healthcare, pharmaceutical end-user industry.

The Safety Laser Scanner market in APAC region held a significant market share of 34% in the forecast period owing to the stringent regulations made by Operational Health and Safety Administration (OSHA) and rapid penetration of industrialization.

Safety Laser Scanner top 10 companies include Arcus Automation Private Limited, Banner Engineering, Datalogic S.P.A., Hans Turck GmbH & Co. Kg, Hokuyo Automatic Co., Ltd., IDEC Corporation, Keyence Corporation, Leuze Electronic GmbH + Co. Kg, LKH Precicon Pte. Ltd., Omron Corporation among others.

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Safety Laser Scanner Market Expected to Reach $401.2 Million by 2026