LDM: Key market research findings
- The Americas dominate the market geographically
- Professional contractors account for a majority of the market’s revenue
- Key vendors – Bosch, Hexagon, Stanley Black & Decker, Danaher, Flir Systems, Hilti, Makita, Stabila, and Trimple
Technavio’s market research analysts predict the global LDM market to grow at a CAGR of around almost 4%, in terms of unit shipments, between 2016 and 2020. The increasing number of floor plan apps in the market is the primary driving force behind the laser distance meter (LDM) market. Vendors in the market are developing apps that enable users to connect their smartphones or tablets with LDMs in an attempt to integrate LDMs with office workstations on a real-time basis. During 2015, the Americas dominated the global laser distance meter market with a market share of around 47%. Increasing adoption of LDMs by the construction industry for design, building layout, and alignment is expected to further fuel growth in the LDM market in the Americas during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the LDM segments based on the end-user.
“Miniaturization of sensors is an ongoing trend in the market. The plug-and-play sensor modules that can be integrated with smartphones and tablets, using a software app, is expected to drive growth in the market in the coming years. These devices can be used to record indoor as well outdoor measurements for floor mapping and other business functions. Prexiso iC4 is a similar device that is currently available in the market,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
The professional contractor segment dominated the global LDM market in 2015 with a market share of around 67%. LDM finds application in various aspects of construction such as costing of government projects, military projects, enterprise works, electrical works, pipelining, solar panel installation and commissioning, renovation, interior design, heating, ventilation, and air-conditioning (HVAC) system for air ventilation and ducting, air volume calculation from duct, ceiling lights, and duct pipes in drop ceiling. The expansion of the flooring market is expected to reflect positively on the growth in the global LDM market for professional contractors during the forecast period.
Bosch, Hexagon, Stanley Black & Decker, Danaher, Flir Systems, Hilti, Makita, Stabila, and Trimple are the primary vendors in the market. The market is driven by the constant upgradation of both hardware and software, and is consolidated with a few major players. One of the major vendors Hexagon, owns Agatec and Leica geosystems and The Stanley Works merged with Black & Decker to form Stanley Black & Decker, which is the is the parent of DeWalt. Vendors focus on differentiating their laser measurement devices based on range, integration with smartphones, sensor upgrading, and software integration using apps. Many of the laser distance meter vendors are into other businesses related to measurement and alignment, making it difficult for new vendors to enter into this market segment.
A more detailed analysis is available in the Technavio report, Global Laser Distance Meter Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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