Handheld Laser Distance Meter Market Report

Leading competitors in the market for portable laser distance metres are setting the stage for significant commercial efforts by taking the needs of the client into account. Manufacturers are including Bluetooth capability in their newest handheld laser distance metre models because it allows end-users to link portable laser distance metres with smartphones or other electronic devices like tablets or laptops and transfer information digitally. In addition, a number of the leading vendors in the market for handheld laser distance metres have developed smartphone applications that can be linked to those devices to send data in the form of images, floor plans, and numbers directly to the electronic devices of end users. In the following years, it is anticipated that this trend will gain popularity due to digital transitions in the key end-user industries.

For instance, HOTO Tools introduced the HOTO: Smart Laser Measure Pro in 2022. HOTO is a quick, precise, and simple method for measuring and documenting that just requires a gadget and a specialised smartphone app. The measuring tool maintains a modest, portable form that is appropriate for measuring distance between objects or walls as well as measuring on paper. The one-button operation of the smart device sets it apart from the variety of laser distance metres on the market, which have a variety of onboard buttons and functions for carrying out various tasks. By pairing HOTO with the mobile device through Bluetooth, the user can save the data in the dedicated app for later use. The creator claims that HOTO is accurate to the very last millimetre.

The growing need for digital measurement tools is driving growth in the market for handheld laser distance metres. The need for handheld laser distance metres is rising globally as a result of increased digitalization in the field of metrology and growing demands for accurate measurements in a variety of applications, including the construction of buildings and roads. Furthermore, measurement tapes and other conventional distance measuring devices are being swiftly replaced by handheld laser distance metres. The growing requirement for distance measurement equipment that is faster and more accurate is mostly responsible for the rise in demand for handheld laser distance metres in the construction sector.

Furthermore, the adoption of the handheld laser distance meter market in the construction industry for the purpose of height tracking is driving the market. The use of handheld laser distance metres in the construction industry is necessary due to the significance of making accurate measurements with high efficiency, accuracy, and safety. Also, the rise in demand for examination of flaws and cracks in underground pipelines and pipelines in the oil & gas and petrochemical industries is another reason anticipated to propel the laser measuring instrument market over the forecast period.

• Continuous improvements in laser technology to more accurate, reliable, and user-friendly handheld laser distance meters.
• Integration of handheld laser distance meters with smart devices to transfer measurements, create digital blueprints, and share data.
• More compact and lightweight handheld laser distance meters with enhanced performance.
• Handheld laser distance meters with enhanced durability with robust, durable materials to withstand harsh working conditions.

Although handheld laser distance metres allow users to carry out distance measurement tasks with more accuracy, their high cost is one of the main reasons limiting market growth. Handheld laser distance metres are significantly more expensive when compared to their substitutes, ultrasonic distance metres. Due to their expensive price, users are instead choosing to lease or buy used handheld laser distance metres. Leading manufacturers in the market for handheld laser distance metres are taking this trend into account and providing used equipment or leasing handheld laser distance metres of their own brands at low costs to obtain a competitive edge.

The great majority of the leading businesses in the global market for laser distance meters pursue strategic initiatives like product development and alliances in order to establish a stronger global presence. For instance, the MONARCH 2000, a new portable Laser Rangefinder from Nikon Vision Co. Ltd., a division of Nikon Corporation (Nikon), was introduced in February 2019. The MONARCH 2000 is a portable laser rangefinder with an increased measurement range of up to 1,820 metres. The new portable laser distance metre from Nikon includes a number of cutting-edge and contemporary features, including a red OLED internal display and an automated display brightness adjustment mechanism.

Earlier, the new Bosch BLAZETM Outdoor GLM400C Connected Laser Measure, which includes the Viewfinder and a Camera, was introduced in June 2018 by Robert Bosch GmbH (Robert Bosch Tool), a leading provider of cordless & corded measuring tools, power tools and tool accessories and one of the leading stakeholders in the handheld laser distance metre market. Unique features offered by the new handheld laser distance metre include automatic real-time measurement, indirect measuring functions for length, area, and volume, as well as a display guide. Again, Leica DISTOTM X3 and X4 handheld laser distance metres were introduced in February 2018 by Hexagon AB (Leica Geosystems), a leading provider of geospatial industrial solutions and a market leader in handheld laser distance metres. These new metres were created specifically for the construction sector. The brand-new handheld laser distance metre can endure drop testing from a height of two metres and is safe from dust and water. With the introduction of the ground-breaking and technologically sophisticated handheld laser distance metres, the firm hopes to establish a stronger position in the market.

North America is anticipated to experience significant growth in the handheld laser distance meter market over the forecast period. This growth can be attributed to the growing industrialization and the growth of the oil and gas industry in the region. The United States is the world's leading producer of both oil and natural gas. As stated in the Council on Foreign Relations Report 2022, it is estimated that currently, the United States generates 90% of its natural gas and 75% of its crude oil domestically. Moreover, owing to the expansion of the industrial region and the construction sector, the handheld laser distance meter market is anticipated to expand in the Asia-Pacific region as well. Manufacturing companies in both developed and developing countries are focusing on creating components and parts utilizing laser-measuring instrument equipment that produces accurate measurements in a shorter amount of time. This will have a major impact on the future of the global market for laser measuring tools.

The report provides a detailed overview of the handheld laser distance meter market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the handheld laser distance meter market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the handheld laser distance meter market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which is anticipated to have a substantial impact on the growth of the handheld laser distance meter market. Some key countries and regions included in the handheld laser distance meter market report are as follows:

• Handheld laser distance meter market detailed segments and segment-wise market breakdown
• Handheld laser distance meter market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in handheld laser distance meter industry)
• Current, historical, and forthcoming 10 years market valuation in terms of handheld laser distance meter market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
• Handheld laser distance meter market demand analysis
• Handheld laser distance meter market pricing analysis over the forecast period (by key segment and by region)
• Handheld laser distance meter market regional insights with the region-wise market breakdown
• Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
• Latest developments and innovations in the handheld laser distance meter market
• Regulatory landscape by key regions and key countries
• Supply chain and value chain analysis in the handheld laser distance meter market
• Handheld laser distance meter market sales and distribution strategies
• A comprehensive overview of the parent market
• A detailed viewpoint on the handheld laser distance meter market forecast by countries
• Mergers and acquisitions in the handheld laser distance meter market
• Essential information to enhance market position
• Robust research methodology