Handheld Laser Distance Meter Market Exhibits Ardent Revenue Gains across Major Geographical Regions during 2019 - 2027
October 4, 2019 by Amanpreet
In February 2019, Nikon Vision Co., Ltd. – a subsidiary of Nikon Corporation (Nikon), recently announced the launch of the MONARCH 2000 – its new portable Laser Rangefinder. The MONARCH 2000 is a handheld laser distance meter with an extended distance measurement capacity of a maximum distance of 1,820 meters. Various innovative and modern features, such as red OLED internal display and an automatic display brightness adjustment function, are incorporated in Nikon’s new handheld laser distance meter.
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Other key players in the handheld laser distance meter market are Fluke Corporation, Hilti, Inc., Makita U.S.A., Inc., Precaster Enterprises Co., Ltd., Prexiso AG, STABILA Measuring Instruments Gustav Ullrich GmbH, Stanley Black & Decker Inc., Trimble, Inc., and The L.S. Starrett Company Ltd.
Resurgent Growth in Construction Industry to Complement Handheld Laser Distance Meter Sales
Handheld laser distance meters are rapidly replacing their traditional counterparts such as measurement tapes, used in the industry. The burgeoning demand for handheld laser distance meters in the construction industry is mainly attributed to the needs for improving the speed and accuracy of distance measurement tools. Handheld laser distance meters are commonly used in the construction industry for height tracking, which enabled end-users to derive the discrepancy between the heights of two sides of a wall with more accuracy and without any assistance. The importance of getting the measurements right the first time with high efficiency, accuracy, and safety is necessitating the use of handheld laser distance meters in the construction industry. Leading stakeholders in the handheld laser distance meters market are focusing on introducing handheld laser distance meters for the construction industry to capitalize on lucrative sales opportunities created by the ongoing construction activities worldwide.
Camera with Brightness Adjustment Features Emerge as Outdoor Application Enablers
A majority of customers are incorporating state-of-the-art measurement instruments, such as handheld laser distance meters, for outdoor applications, in bright sunlight. Leading manufacturers in the handheld laser distance meter market are focusing on improving the quality of display by integrating a high-resolution screen with modern handheld laser distance meters. By introducing brightness adjustment features and a camera with zooming capabilities, handheld laser distance meter market players are allowing end-users to spot distant targets in bright sunlight. In the upcoming years, integrating cameras and high-resolution display options with handheld laser distance meters is likely to emerge as a popular trend in the market.
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High Cost Continues to Remain a Key Growth Impediment
Although handheld laser distance meters enable end-users to achieve more accuracy at distance measurement tasks, they are extremely expensive, which is one of the leading factors to limit the market growth. As compared to their alternatives – ultrasound distance meters, handheld laser distance meters cost much higher. Thereby, customers are preferring to purchase pre-owned handheld laser distance meters or leasing one, owing to its high cost. Taking into consideration this trend, leading manufacturers in the handheld laser distance meters market are offering pre-owned equipment or leasing handheld laser distance meters of their own brands at competitive prices to gain an edge in the handheld laser distance meter market.
Handheld Laser Distance Meters with Bluetooth Functionality Gain High Palpability
Consideration towards customer experience is building a foundation for salient business strategies adopted by leading players in the handheld laser distance meter market. Leading manufacturers are incorporating Bluetooth functionality with handheld laser distance meters makes the instrument accessible to end-users in a variety of formats. As it enables end-users to transfer information digitally by connecting handheld laser distance meters with smartphones or other electronic devices such as tablets or laptops, manufacturers are introducing the Bluetooth feature in their latest handheld laser distance meter models. Furthermore, some of the top-tiered companies in the handheld laser distance meter market have also introduced smartphone applications that can be connected with handheld laser distance meters and directly transfer data in the form of photographs, floor plans, and numbers to end-users’ electronic devices. Digital transformations in the major end-user industries are expected to make this trend popular in the upcoming years.
The handheld laser distance market is mainly divided into three segments – geographical regions, range, and applications of handheld laser distance meters. Based on the geographical regions, the handheld laser distance meter market is segmented into North America, Latin America, Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East & Africa (MEA).
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Depending upon the range of a handheld laser distance meter, the handheld laser distance meter market is segmented in to up to 30 meters, 30-100 meters, and above 100 meters. Based on the end-uses or applications of handheld laser distance meters, the market is segmented into building & construction, metal & mining industry, military, and other applications, such as logistics.
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