Technavio analysts forecast the global laser distance meter market to grow at a CAGR of nearly 2% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global laser distance meter market to grow at a CAGR of nearly 2% by 2022. (Graphic: Business Wire)
The integration of laser measurement capability with smartphones is one of the major trends being witnessed in the global laser distance meter market 2018-2022. Over the past few years, the global laser distance meter market has witnessed constant technological upgrades, which have helped in driving the market. Additionally, there has been an increasing focus on technological upgrades to increase the capability and versatility of laser measurement devices. Among these, the integration of laser measurement devices with smartphone applications is important.
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According to Technavio analysts, one of the key factors contributing to the growth of the global laser distance meter market is the growth of the flooring industry:
Global laser distance meter market: Growth of flooring industry
The increasing focus on the redesigning of commercial spaces has led to the growth of the flooring industry. The industry has witnessed strong demand from numerous sectors such as education and healthcare. In the education sector, there has been an increasing focus on holistic learning by using interactive content-based approach for teaching students.
According to a senior analyst at Technavio for research on embedded systems, “Educational institutes are increasingly adopting makerspaces, which are areas used for learning using physical. virtual, and other modular equipment such as 3D microscopes and programmable circuit boards. The adoption of these equipment aids in the practical learning of students. For the designing of these new makerspaces and classrooms, educational institutes are increasingly adopting designer flooring options such as luxury vinyl tiles, rubber, and carpet tiles. For laying out these flooring products, there will be increased reliance on laser measurement devices to measure precise dimensions and areas for the flooring plans to be implemented.”
Global laser distance meter market: Segmentation analysis
The global laser distance meter market research report provides market segmentation by end-user (architects, engineers, construction employees, and interior designers) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The architects segment held the largest market share in 2017, accounting for nearly 39% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of over 47%. This region is expected to dominate the market through 2022.
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Market Landscape
- Market ecosystem
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Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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