Technavio analysts forecast the global construction laser marketto grow at a CAGR of almost 5% during the forecast period, according to their latest report.
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Technavio has published a new report on the global construction laser market from 2017-2021. (Photo: Business Wire)
The research study covers the present scenario and growth prospects of the global construction laser marketfor 2017-2021. The market is segmented on theproduct (measuring and layout tools and surveying equipment) and geography (the Americas, EMEA, and APAC).
The booming construction market, where construction lasers find applications as essential tools, is the main growth driver of the market. The demand for construction laser in the market will be primarily from professional contractors and surveyors. Several factors, including an increase in the number of construction sites, have led to various surveying companies adopting laser scanners. 3D laser scanners can reduce the high costs of operation and reduce the reworks on site. Therefore, organizations adopt this technology to reduce risk, speed up task completion, and provide improved quality control.
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Technavio heavy industry research analysts highlight the following three factors that are contributing to the growth of the global construction laser market:
- Rising popularity of laser scanning
- Trend toward smart cities
- Growth in construction industry
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Rising popularity of laser scanning
Laser scanning also referred as high-definition surveying (HDS), is a method of reality capture or high-accuracy mapping that employs laser beams to quickly capture the complete detail of the whole building in a construction project like a camera taking a 360-degree photo but with an accurate position for every pixel. This detailed 3D representation of the building in construction projects is usually called a point cloud. Originally applied for maintaining and constructing industrial plant facilities, laser scanning has since been utilized for several other uses, incorporating building construction and BIM.
Sayani Roy, a lead tools and components research analyst at Technavio, says, "Many modern building construction projects are renovating projects or redevelopment projects that lack modern maintenance or construction documents on existing facilities. In these circumstances, the rich, complete data obtained with a laser scanner can provide the necessary information on existing building conditions with the required precision for construction planning. As construction advances, laser scanning data can be utilized for quality assurance by comparing the recently constructed work against the as-designed drawings or models."
Trend toward smart cities
Increasing urbanization across the globe has increased the pressure on existing infrastructure, pushing for productivity in the construction sector. Increasing environmental concerns due to construction activities are driving the convergence of geospatial and 3D technologies across the industry. The increasing urbanization and increased income levels are driving investments in new and refurbished buildings and infrastructure.
"Cities around the world are beginning to realize the potential that arises from the convergence of modern information technology, including geospatial/GIS, 3D models, intelligent network models for telecommunications, transportation, electric power, water and wastewater, and another infrastructure. For instance, the Las Vegas infrastructure model represents the advantages of convergence of 3D engineering design data including BIM and geospatial data including point clouds derived from laser scanning, together with 3D visualization technology," adds Sayani.
Growth in construction industry
Precision hand tools such as laser levels, LDMs, and other similar laser devicesare essential components of a complete toolkit for several construction professionals. The ongoing growth in construction expenditures will support value advances for these products going forward.
The expanding rate of urbanization in late decades has seen a quickened pace in the development of skyscrapers and tall structures around the world, especially in the emerging economies of the world. A key economic driver for the development of tall structures is the shortage of land in the thickly urbanized parts of the world. The competition for developing the tallest building in a city, nation, locale, or the world has gone about as another driver for the development of tall structures around the world, frequently characterized by complex geometries and inclining/bending shapes.
Top vendors:
- Fortive
- HEXAGON
- Robert Bosch
- Stanley Black Decker
- Trimble
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