The Latin America, Middle East and Africa Laser Sensor Market would witness market growth of 15.1% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Laser Sensor Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $38.8 million by 2031. The Argentina market is showcasing a CAGR of 16% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 14.4% during (2024 - 2031).
The market expansion is bolstered by an increase in the production of consumer electronics. Smartphones and wearable devices, key drivers of the consumer electronics industry, have incorporated these sensors to enable more advanced functionality, such as motion tracking, distance measurement, and biometric authentication. A mobile phone is owned by 78% of the population aged 10 and older in 2023, which is 11 percentage points higher than the percentage of individuals who use the Internet, according to the International Telecommunication Union (ITU). This gap is shrinking in all regions, as growth in Internet use has significantly outpaced the growth of mobile phone ownership over the last three years.
Wearable devices, including smartwatches and fitness monitors, are increasingly utilizing these sensors for a variety of health-related applications in addition to smartphones. These sensors are indispensable for the development of immersive experiences in augmented reality (AR) and virtual reality (VR) by accurately detecting gestures and monitoring movements. As the AR and VR sectors grow, these sensors are becoming increasingly important for ensuring the accuracy and responsiveness of these technologies.
South Africa’s automotive sector has become a key area for the sensor adoption as the country continues to grow as an automotive manufacturing hub in Africa. With automakers like BMW, Volkswagen, and Ford maintaining production facilities in South Africa, these sensors are being integrated into assembly lines for welding, component alignment, and quality inspection tasks. In 2022, the South African automotive industry's broader contribution to the gross domestic product (GDP) was 4.9%, as reported by the International Trade Administration. This includes 2.9% manufacturing and 2% retail. The demand for these sensors in the country's automotive plants is driven by the increasing automation of production processes and the push toward more efficient manufacturing. This is due to the need to ensure precision and improve productivity. Thus, the demand for laser sensors in LAMEA is fueled by the modernization of industries across the region.
Free Valuable Insights: The Worldwide Laser Sensor Market is Projected to reach USD 2 Billion by 2031, at a CAGR of 12.3%
Based on Component, the market is segmented into Hardware, Software, and Services. Based on Type, the market is segmented into Laser Displacement Sensors, Laser Photoelectric Sensors, Laser Scanners, and Others. Based on Application, the market is segmented into Process Monitoring & Quality Control, Distance Measurement, Security & Surveillance, Motion & Guidance, Manufacturing Plant Management, and Others. Based on End-use, the market is segmented into Automotive, Consumer Electronics, Healthcare, Aerospace & Defense, Food & Beverages, Chemical, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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