At 5.1% CAGR, South & Central America Laser Distance Sensor Market is Projected to be Worth US$ 101.94 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America laser distance sensor market was valued at US$ 68.71 million in 2022 and is expected to reach US$ 101.94 million by 2030, registering a CAGR of 5.1% from 2022 to 2030. Advent of advanced robotics solutions and rise in government spending on defense sector are among the critical factors attributed to the South & Central America laser distance sensor market expansion.

The advanced and intelligent autonomous mobile robots (AMRs) are autonomous mobile manipulator robots (AMMR) with a robot arm mounted on them. They are increasingly being used for picking up and moving things on a mobile platform in logistics, retail, healthcare, automobile, aerospace, and other sectors, as these robots can recognize objects, pick-and-place, assemble, pack, sort, and perform other tasks without human intervention. As these robots are more costly than the basic AMRs, the market is still in a growing phase. However, the rising adoption of these robots will majorly driven by its rising awareness regarding its benefits such as maximize the efficiency of workflow operation, minimize the error, and increase the productivity output.

AMMRs use sensors that assist mobile robots in calculating distance for the better performance of tasks assigned to them. Laser distance sensors help carry out tasks with advanced distance measurement technologies, which is likely to drive the market in the coming years due to the rise in the adoption of advanced robotics solutions.

On the contrary, stringent government regulations for using laser-based products hampers the growth of South & Central America laser distance sensor market.

Based on distance, the South & Central America laser distance sensor market is segmented into between 2 and 10 meters, between 11 and 100 meters, between 101 and 200 meters, and between 201 and 500 meters. The between 11 and 100 meters segment held 39.1% share of the South & Central America laser distance sensor market in 2022, amassing US$ 26.88 million. It is projected to garner US$ 37.68 million by 2030 to expand at 4.3% CAGR during 2022-2030.

In terms of accuracy, the South & Central America laser distance sensor market is segmented into 1 mm at 2 sigma, 3 mm with 2 sigma, and 5 mm at 2 sigma. The 3 mm with 2 sigma segment held 48.5% share of the South & Central America laser distance sensor market in 2022, amassing US$ 33.32 million. It is estimated to garner US$ 50.11 million by 2030 to expand at 5.2% CAGR during 2022-2030.

By end user, the South & Central America laser distance sensor market is segmented into manufacturing, construction, automotive and robotics, aerospace and defense, geospatial industry, and others. The automotive and robotics segment held 34.6% share of South & Central America laser distance sensor market in 2022, amassing US$ 23.79 million. It is predicted to garner US$ 36.98 million by 2030 to expand at 5.7% CAGR during 2022-2030.

Based on country, the South & Central America laser distance sensor market is categorized into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America held 53.5% share of South & Central America laser distance sensor market in 2022, amassing US$ 36.76 million. It is projected to garner US$ 55.35 million by 2030 to expand at 5.2% CAGR during 2022-2030.

Key players operating in the South & Central America laser distance sensor market are Sick AG, ifm Electronic GmbH, Baumer Holding AG, Keyence Corp, Leuze electronic GmbH & Co KG, and Jenoptik AG, among others.

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