Safety Laser Scanner Market Expected to Reach $849.6 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Safety Laser Scanner Market by Type, End Use, and Region: Global Opportunity Analysis and Industry Forecast, 2022–2031," The safety laser scanner market was valued at $436.72 million in 2021, and is estimated to reach $849.6 million by 2031, growing at a CAGR of 6.9% from 2022 to 2031.

The safety laser scanner is an enhanced electro-sensitive protective device (ESPE) designed to scan two-dimensional surroundings using infrared laser beams. The safety laser scanner is primarily used in manufacturing, logistics, and material handling systems to offer a high level of protection to workers and prevent accidents. In addition, modern safety laser scanners have sophisticated capabilities like dynamic protection zones and field switching, which enable them to adapt to changing conditions and give a more accurate degree of protection. Moreover, next-generation safety laser scanners may be combined with other safety devices like emergency stop buttons and light curtains to form a full safety system.  

The growth of global safety laser scanners is majorly driven by technological advancement in machine safety systems coupled with the rise in emphasis on the workplace. Moreover, growth in industrial automation is expected to drive market growth. However, the high cost associated with the safety laser scanners acts as a prime restraint for the growth of the global market. On the contrary, the surge in demand for industrial safety solutions in emerging economies is anticipated to provide lucrative opportunities for the safety laser scanner industry during the forecast period.  

According to the safety laser scanner market analysis, the stationary safety laser scanner segment was the highest contributor to the market in 2021. The automotive and food & beverage collectively accounted for around 57.1% market share in 2021. The surge in prime players' initiatives to develop and deploy next-generation machine safety systems globally has led to the growth of laser scanner-based safety solutions; thereby, enhancing the safety laser scanner market growth during the forecast period of 2022-2031.  

The outbreak of COVID-19 has significantly impacted the growth of automotive and manufacturing solutions. The decline in growth in manufacturing solutions has significantly impacted the demand for safety laser scanner solutions during the pandemic. Further, the lack of availability of a professional workforce due to the partial and complete lockdown implemented by governments across the globe has restrained the growth of the safety laser scanner market during the pandemic. However, the rise in demand for machine safety systems and Internet of Things solutions has led to the growth of safety laser scanner systems and is expected to drive the growth of the safety laser scanner market during the forecast period.  

By type, the stationary safety laser scanner segment dominated the safety laser scanner market trends in 2021 and is expected to dominate the market during the forecast period.  By end use, the automotive segment accounted for a major share of global safety laser scanner industry trends, owing to a surge in demand from emerging markets globally. Region-wise, North America holds a significant share of the global safety laser scanner market, owing to the presence of prime players in the region. U.S. dominated the safety laser scanner market in the North America safety laser scanner market. The rise in investment by prime players and government agencies to develop next-generation machine safety solutions for the better workforce or labor safety across industrial sectors has led to the growth of the safety laser scanner market during the forecast period.  

KEY FINDINGS OF THE STUDY

• In 2021, the stationary safety laser scanner segment accounted for maximum revenue and is projected to grow at a notable CAGR of 7.2% during the forecast period.
• The automotive segment was the highest revenue contributor to the safety laser scanner market size in 2021.
• The food & beverage and healthcare & pharmaceuticals segments collectively accounted for around 32.9% safety laser scanner market share in 2021.
• North America acquired a major share of the safety laser scanner market with an industry share of 5.7% in 2021.

The key players profiled in the report include OMRON Corporation, Panasonic Corporation, SICK AG, Keyence Corporation, Hans Turck GmbH & Co. KG, Hokuyo Automatic Co. Ltd, Arcus, Banner Engineering, Leuze electronic GmbH Co. KG, IDEC Corporation, Pepper+Fuchs SE, and Rockwell Automation Inc. Market players have adopted various strategies such as product launch, collaboration, partnership, joint venture, and acquisition to expand their foothold in the safety laser scanner market size. For instance, in June 2021, Maxim Integrated Products, Inc. announced its collaboration with Sick AG. This allowed Maxim's software-configurable digital IO products to enable a 50 percent size reduction for the microScan3 Core I/O LiDAR-based safety laser scanner from SICK AG. It also allowed SICK to expand the versatility of the new nanoScan3 Safety Laser Scanner for machines and vehicles that require high performance but have minimal mounting space.