Handheld Laser Distance Meter Market to Surpass US$ 7.4 Billion by 2033: Fact.MR Analysis
Demand Rising for User-friendly and Cost-effective Handheld Laser Distance Meters among DIY Enthusiasts
Rockville , Oct. 27, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global Handheld Laser Distance Meter Market is valued at US$ 4.33 billion in 2023 and is projected to reach US$ 7.4 billion by the end of 2033.
Handheld laser distance meters are portable instruments that use laser technology to measure the distance between two points. It is a non-contact measuring device, so it is safe and easy to use. Handheld laser distance meters are commonly used in construction for surveying, but they can also be used for a variety of other purposes, such as home improvement, landscaping, and DIY projects.
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Key Segments of Handheld Laser Distance Meter Industry Research Report
| By Range | By End Use | By Application | By Category |
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Integration of handheld laser distance meters with digital devices is a significant trend. Bluetooth connectivity and dedicated apps allow professionals to capture and manage measurements digitally, improving efficiency and data accuracy.
Manufacturers are focusing on user-friendly interfaces and intuitive displays. Clear, backlit screens; ergonomic designs; and simplified controls are enhancing user experience and usability. As environmental sustainability is gaining importance, some handheld laser distance meter manufacturers are introducing eco-friendly meters with reduced power consumption and longer battery life.
The global construction industry is experiencing substantial growth, driving the demand for handheld laser distance meters. These tools are essential for precise measurements and layout planning. Digitalization and the adoption of building information modeling (BIM) software are increasing in the construction and design industries.
Key Takeaways from Market Study
- The global handheld laser distance meter market is projected to increase at a CAGR of 5.5% from 2023 to 2033.
- The United States market is experiencing healthy growth due to a booming construction industry, digital transformation, and the popular DIY culture in the country.
- In Germany, a focus on precision engineering and a tech-savvy culture are driving demand for high-precision laser distance meters.
- Japan's emphasis on infrastructure development and adherence to quality standards is fueling the demand for handheld laser distance meters.
“Automotive and aerospace industries account for consistent demand for high-precision laser distance meters,” says a Fact.MR analyst.
Competitive Analysis
Leading handheld laser distance meter manufacturers are employing strategies such as product innovation, diversification of product lines, digital integration, user-friendly designs, competitive pricing, and customer-focused marketing. They are also focusing on expanding globally, forming strategic partnerships, and emphasizing quality assurance and sustainability. These moves are helping them to enhance their market position and profit shares.
- On September 13, 2022, FARO, a prominent 3D measurement equipment manufacturer, unveiled the FARO Vantage Max Laser Tracker. It comes in two models, offering extensive 3D measurements up to 80 meters. This innovation streamlines processes, cuts inspection times, and guarantees precise results.
- On June 25, 2023, Mileseey, a renowned manufacturer of laser measurement equipment, unveiled the DP20 Pro Bilateral Laser Distance Meter. This cutting-edge device emits laser beams simultaneously in opposing directions, eliminating the need to search for walls or surfaces to bounce laser beams off. This marks a significant advancement in the field of distance measurement.
- In February 2019, Nikon Vision Co., Ltd., a subsidiary of Nikon Corporation, made waves with the introduction of the MONARCH 2000, a highly portable laser rangefinder. The MONARCH 2000 boasts an impressive extended distance measurement capacity of up to 1,820 meters. It incorporates a range of innovative and contemporary features, including a vivid red OLED internal display and an automatic display brightness adjustment function, setting a new standard for handheld laser distance meters.
- Also in February 2019, Trimble, Inc., a California-based developer of laser rangefinders and inertial navigation systems, launched its e-Commerce platform, Trimble Exchange. This platform allows customers in the United States to directly connect with Trimble's SITECH® dealer network for the purchase of refurbished or pre-owned legacy Trimble products. By introducing this new e-commerce platform, Trimble aims to attract customers, particularly from the civil construction industry, by offering competitive prices on pre-owned Trimble equipment.
| Report Attribute | Details | |
| Value Projection (2033) | USD 7.4 Billion | |
| Growth Rate (2023-2033) | 5.5% CAGR | |
| No. of pages | 170 Pages | |
| No. of Tables | 74 Tables | |
| No. of Figures | 60 Figures | |
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global handheld laser distance meter market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on range (up to 30 meters, 30 to 100 meters, above 100 meters), end use (building & construction, metal & mining industry, military, logistics), application (distance measurement, position & monitoring objects, security applications movement detection, level & elevator measuring), category (with Bluetooth, without Bluetooth), and distribution channel (direct sales, indirect sales), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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