Laser Tracker Market Trends

Introduction

Into 2024 the world's laser tracker market is about to experience a radical transformation, driven by a confluence of macroeconomic factors. In particular, the integration of automation and digitalization into manufacturing processes is driving demand for high-precision measurement tools, while stricter quality assurance regulations are compelling companies to adopt more sophisticated trackers. In addition, the drive for efficiency and resource conservation is influencing end-users' preferences for newer, more technologically advanced products. These trends are strategically important for market participants. Not only do they highlight the need for adaptation and investment in new solutions, they also offer opportunities for differentiation in a market that is becoming increasingly complex.

Top Trends

1. Increased Automation in Manufacturing
   Increasingly, manufacturers are combining the tracker with automation to improve the precision and speed of production. In the case of Hexagon, for example, a reduction of 30 % in measurement time is claimed when using automatic laser trackers. This trend is expected to further improve the efficiency of the manufacturing process, reduce labor costs and improve product quality. As automation increases, demand for advanced laser trackers will also increase.
2. Integration with IoT and Smart Technologies
   Data collection and analysis in real time is changing. Industry leaders are deploying this technology to remotely monitor the health and performance of their equipment. In the example of Faro, the Internet of Things-enabled trackers provide immediate feedback, resulting in a 25% increase in operating efficiency. The trend is to enhance preventive maintenance and reduce downtime.
3. Enhanced Software Capabilities
   The development of the software for the laser trackers has led to a greater possibility of data analysis and presentation. Companies such as API have developed such software which can process complex geometrical structures and give meaningful information. This ability has been found to speed up decision-making by 40 per cent. This development will continue and the users can expect more intuitive and enhanced functions, which will increase the take-up in all industries.
4. Focus on Sustainability and Eco-Friendly Practices
   There is a growing emphasis on the environment within the laser tracking industry. For example, VMT has developed an energy-saving design for its trackers, reducing the energy consumption by 20 per cent. This trend not only complies with regulations but also reflects the increasing awareness of the public of the need to protect the environment, and could lead to an increased market share for sustainable products.
5. Customization and Flexibility in Solutions
   The demand for a bespoke solution is growing as the industry seeks to find a tool that meets its particular needs. Brunson reports a 15% increase in demand for bespoke solutions. This trend is enabling the industry to optimize its measurement processes, which is improving both accuracy and efficiency. In future, a modular system that can be easily adapted to different operational needs may be developed.
6. Expansion into Emerging Markets
   Emerging markets are becoming increasingly important for the manufacturers of trackers and they are investing heavily in these regions. For example, SGS has expanded its activities in Asia to meet the growing demand for high-precision measurement equipment. This will lead to competition and innovation, as the companies try to meet the special needs of these markets, and the market will be reshaped.
7. Advancements in Portable Laser Trackers
   The portable laser tracker has revolutionized on-site measurements. On-Trak is one of the leaders in this field. Its models are light and portable, thanks to the use of batteries. These portable solutions have proven to reduce setting up time by up to 50%. These portable solutions are therefore ideal for construction and field applications. In the future, we can expect even more portable and easy-to-use solutions.
8. Integration of AI and Machine Learning
   Artificial intelligence and machine learning are being integrated into these systems to improve accuracy and predictability. Variation Reduction Solutions, Inc. is using AI to analyze its own data and has reduced the rate of measurement errors by as much as 30 percent. This trend will make it easier to take accurate measurements and to make smarter manufacturing decisions, paving the way for future advancements.
9. Regulatory Compliance and Standards
   The stricter the requirements of the authorities become, the more important the tracker becomes. The governments set precise limits, the companies invest in advanced tracking technology. For example, Hubbs Machine & Manufacturing has already adopted the use of laser trackers in order to guarantee compliance with the ISO standards, and in the process has gained a competitive advantage. This trend is likely to continue and drive the development of further solutions to ensure compliance.
10. Collaboration and Partnerships in Technology Development
    The collaboration between manufacturers of laser trackers and companies of high technology has made it possible to develop the field of laser trackers and extend its possibilities. For example, PLX has teamed up with software companies to improve the data integration. The next generation of trackers can be developed faster through the collaboration of the knowledge and experience of both parties.

Conclusion: Navigating the Laser Tracker Landscape

The market for laser trackers in 2024 is characterised by high competitive tension and high fragmentation. Both established and new players are competing for market share. Regional developments show a growing demand in Asia-Pacific and North America, and thus dictate a change in the strategies of the market players. In order to differentiate themselves from the competition, the established players are using their well-established reputations and their extensive distribution networks, whereas the newcomers are focusing on technological innovations such as the integration of artificial intelligence, automation, and sustainability. In the future, the ability to offer flexible solutions that can be adapted to the diverse customer requirements will be crucial for market leadership. And it will be a question of survival for the suppliers of trackers.