Safety Laser Scanner Market Expected To Grow At Higher CAGR from 2018 To 2023

The overall safety laser scanner market is expected to grow from USD 304 million in 2018 to USD 406 million by 2023, at a high CAGR during 2018–2023. The safety laser scanners offer a long-term cost-effective solution for use with new machine installations or for retro fitting machines, plants, or even vehicles. Therefore, small form factor, high user-friendliness, seamless integration, and high on power efficiency collectively are responsible for the overall growth of the market.

The healthcare & pharmaceutical end-user industry is likely to exhibit highest CAGR during the forecast period. Additionally, the mobile safety laser scanner market are expected to witness increased adoption across automotive, consumer goods & electronics, and healthcare & pharmaceutical end-user industry in near future.

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Safety Laser Scanner Market Expected To Grow At Higher CAGR from 2018 to 2023 Because Of Increasing Fatalities within Workplaces

Safety laser scanners are critical components that are used to prevent any mishaps occurring at workplaces across automotive and other general manufacturing industries. This is because such work areas involve the installation or operation of machinery equipment that is critical to the overall production process. A report by the US Bureau of Labor Statistics released in 2016 highlighting the increasing number of fatalities in the US indicates the need for safety laser scanners. According to data released by the US Bureau of Labor Statistics in 2016, there were a total of 5,190 fatal work injuries recorded in the US in 2016, a 7% increase from the fatal injuries reported (4,836) in 2015. This was the third consecutive increase in annual workplace fatalities.

Small Form Factor, High User-Friendliness, Seamless Integration, and High Power Efficiency Favor the Market for Safety Laser Scanners

Safety laser scanners have been in the industry since the 1970s because of the increasing use of automation solutions in production facilities to improve plant productivity and, at the same time, ensure the safety of workers. Production facilities comprise a large number of machines with varying sizes and specific functionalities. Safety laser scanners have proved themselves to be an ideal cost-effective safety solution for production facilities all across the globe. These scanners are not only used for stationary and mobile hazardous area protection but are also used for access protection requiring single-sided access, differentiating between person and material, and multi-sided access protection. There are many players offering safety laser scanners in the market. For instance, SICK AG (Germany) offers one of the smallest scanner devices with dimensions limited to just 102 x 152 x 105 mm (W x H x D). Safety laser scanners offered by the company allow for freely configurable protective field shapes with adjustable object resolutions complemented by a “contour as reference” function.

Among 4 major regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), the market in APAC is expected to grow at the highest CAGR during the forecast period.

This growth can be attributed to the rapid increase in the production facilities in APAC for various end-user industries such as automotive and consumer goods & electronics. Europe and North America are the next major regions that are expected to exhibit substantial growth rates in the safety laser scanner market with high CAGR during the forecast period. Further, government policies are also in favour of increasing the number of manufacturing facilities in this region. Additionally, developing economies, such as China and India, dominates the consumer electronics market in APAC. For instance, OMRON intends to seize opportunities in global changes with the use of technology to drive dramatic business growth. The company delivers total solutions that solve customer issues and provide applications based on new, integrated technologies such as AI and IoT. Moreover, OMRON offers strong and diverse product lines, establishing a competitive advantage through total solutions.

Companies such as Foxconn Technology Company Limited (Taiwan) has been working on developing industrial robots, targeting ~30% automation in Chinese factories by 2020 because of continuously increasing labor wages in the country.

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