At 21+% CAGR Rangefinder Market Potentially Worth $3.57 Billion by 2022 Led by Asia-Pacific Region
PUNE, India, Aug. 8, 2017 /PRNewswire-iReach/ -- The Asia Pacific is projected to be the fastest-growing rangefinder market during the forecast period. The growth of the market can be attributed to the increased military expenditure and rise in automation in various industrial processes, particularly in the Asian economies of India and China. The rangefinder market is driven by the increased focus on the modernization of the defense equipment by various countries and rise in the demand for rangefinders for accuracy in sports activities. Browse 70 Market Data Tables and 45 Figures spread through 130 Pages and in-depth TOC on "Rangefinder Market - Global Forecast to 2022" http://www.reportsnreports.com/reports/1151268-rangefinder-market-by-type-ultrasonic-laser-end-use-defense-commercial-sports-range-very-low-50-m-low-50-m-to-500-m-medium-500-m-to-25-km-high-25-km-and-region-global-forecast-to-2022.html .
Based on type, the laser segment is estimated to be a larger segment of the rangefinder market during the forecast period. The growth of the laser segment can be attributed to the rising need for accurate and precise information about an object from long distances. The reduction in the price of laser rangefinders, owing to advancements in semiconductor technology is expected to further fuel the growth of the segment.
Based on end use, the commercial segment is estimated to be the largest segment of the rangefinder market during the forecast period. One of the key factors expected to propel the demand for rangefinders in the commercial sector is the increasing adoption of automation in the automotive, process industry and construction industries.
Based on range, the very low (<50 m) segment is estimated to be the largest segment of the rangefinder market during the forecast period. The growth of the segment can be attributed to the rapid adoption of very low range rangefinders in various platforms, such as unmanned ground vehicles.
In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (35%), Tier 2 (45%) and Tier 3 (20%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (35%), Director Level (25%) and others (40%) from various key organizations operating in the rangefinder market. The primary interviews were conducted worldwide covering regions such as North America (26%), Europe (30%), Asia-Pacific (22%), South America (13%) and the Middle East and Africa (9%).
The key players operating in the rangefinder market include Elbit Systems Ltd. (Israel), Kongsberg Gruppen ASA (Norway), Lockheed Martin Corporation (US), Saab AB (Sweden), and Thales Group (France).Make an Inquiry on "Rangefinder Market by Type (Ultrasonic & Laser), End Use (Defense, Commercial & Sports), Range (Very Low (<50 M), Low (50 M To 500 M), Medium (500 M To 2.5 Km), & High (>2.5 Km)) and Region - Global Forecast to 2022" research report at http://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=1151268 .
Research Coverage: The study segments the rangefinder market based on end use (defense, commercial and sports), type (laser, ultrasonic), and range (very low (<50 m), low (50 m to 500 m), medium (500 m to 2.5 km), and high (>2.5 km)) and maps these segments and subsegments across major regions including North America, Europe, Asia Pacific, and Rest of the World.
The report provides in-depth market intelligence regarding the market dynamics and major factors, such as drivers, restraints, opportunities, and industry-specific challenges that influence the growth of the range finder market. The report also analyzes micromarkets with respect to individual growth trends, growth prospects, and their contribution to the overall rangefinder market.
On a related note, another research titled Radar Sensor Market Global Forecast to 2023 says, the radar sensor market is expected to grow from $5.95 billion in 2016 to $20.64 billion by 2023, at a CAGR of 19.51% between 2017 and 2023. Market for automotive application hold a major share of the radar sensor market during the forecast period. Radar sensor market in APAC expected to witness the highest growth during the forecast period. Companies such as Robert Bosch GmbH (Germany), Continental AG (Germany), Denso Corporation (Japan), Delphi Automotive LLP (UK), HELLA KGaA Hueck & Co (Germany), Autoliv Inc. (Sweden), Infineon Technologies AG (Germany), Lockheed Martin Corporation (US), NXP Semiconductors N.V. (Netherlands), Smart Microwave Sensors GmbH (Germany) have been profiled in this 219 pages research report available at http://www.reportsnreports.com/contacts/requestsample.aspx?name=590847 .
About Us:
ReportsnReports.com is an online market research reports library of 500,000+ in-depth studies of over 5000 micro markets. Not limited to any one industry, ReportsnReports.com offers research studies on agriculture, energy and power, chemicals, environment, medical devices, healthcare, food and beverages, water, advanced materials and much more.
Connect with Us:
LinkedIn: www.linkedin.com/company/reportsnreports
RSS/Feeds: http: //www.reportsnreports.com/feed/l-latestreports.xml
Media Contact: Ritesh Tiwari, ReportsnReports, +1-888-391-5441, sales@reportsandreports.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE ReportsnReports
