Laser Pointer Market REPORT OVERVIEW
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The global laser pointer market size expanded rapidly in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with the laser pointer market experiencing higher-than-anticipated/lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to generate substantial revenue by 2028, exhibiting a CAGR of 1.2% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Laser pointers are hand-held lasers which are promoted for pointing out locations or objects. The pointers are promoted for demonstration and pointing purposes limited to hazards.
The equipment has several applications, such as military and entertainment. The product is used to make a potent signal. The light is visible even in daylight. It is able to produce a bright signal for potential search. The product is lightweight and inexpensive. The pointer can be used as an emergency kit. The light is small and significantly used for safety concerns. Further, the presence of different wavelengths and colors is estimated to fuel market growth in the forthcoming years. Huge demand for the pointer for military purposes is predicted to drive market progress. Available colors are red, green, and blue. The laser is used in business and educational presentations. The pointers help enhance verbal guidance and increased need for light in entertainment is anticipated to accelerate market progress in the forthcoming years. Increased manufacturing enterprise and light usage in music festivals for entertaining visuals are estimated to boost market progress. On the contrary, laws and regulations for the use of laser pointers are anticipated to limit the market growth. Also, the lack of technical barriers is projected to hinder market growth in the upcoming years.
COVID-19 Impact: Several Restrictions During the Pandemic Period and Halt in Manufacturing Progress
The global spread of the Coronavirus pandemic affected market progress due to the lockdown restrictions. Several restrictions during the pandemic period and a halt in manufacturing progress reduced product demand. Also, lower demand for the product among the population hinders supply and chain disruption. Further, the closure of construction activities and the ban n musical festivals due to social distance protocols harm market growth.
LATEST TRENDS
"Huge Need for Pointing Purpose to Flourish Market Progress"
The light is extensively used for pointing purposes. Red laser pointers are used in most low-light situations or indoors. The pointers are used in construction activities or interior decorating. The light can travel a longer distance for its wavelength. The light is visible even in daylight. It is able to produce a bright signal for potential search. The product is lightweight and inexpensive. The pointer can be used as an emergency kit. The light is small and significantly used for safety concerns. Further, the presence of different wavelengths and colors is estimated to fuel market growth in the forthcoming years.
Laser Pointer Market SEGMENTATION
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- By Type
Based on type, the market is divided into class 2 products and class 3R products.
Class 2 products are expected to be the top part of type segmentation
- By Application
Based on the application, the market is divided into educational and business presentations, industrial applications, entertainment, and others.
Educational and business presentations are expected to be the top part of application segmentation.
DRIVING FACTORS
"Increased need for educational and business presentations to Accelerate Market Progress"
The growing need for educational and business presentations is anticipated to accelerate market progress. Available colors are red, green, and blue. The laser is used in industry and academic representation. The pointers help enhance verbal guidance and increased need for light in entertainment is anticipated to accelerate market progress in the forthcoming years. Further, the mechanism of the technology is extensively used in the explanation, which is expected to accelerate market growth. In addition, huge adoption of green laser pointers in daylight and longer distance is predicted to expand market performance.
"Huge Demand from Industrial and Research Use to Stimulate Market Performance"
The increased need for industrial and research use is expected to stimulate market performance. High-quality pointers are used in the construction sector for accuracy and to check specific distances. The pointers are useful in business for their accuracy properties. Also, the light is extensively used in scientific research such as chemistry, photonics, medicine, and physics. Such, broad usage of light in industrial and research activities is anticipated to boost the market growth.
Growing Need for Entertainment and Leisure Purposes to Fuel Market Growth
The increased need for laser pointers for entertainment and leisure purposes is anticipated to fuel market growth. The lights are used at parties, clubs, and outdoor concerts. Growing trends for laser shows. The shows are often extravagant by using mirrors, lenses, and smoke. Increased manufacturing enterprise and light usage in music festivals for entertaining visuals are estimated to boost laser pointer market progress.
RESTRAINING FACTORS
"Lack of Technical Barriers to Halt Market Progress"
Laws and regulations for the usage of laser pointers are anticipated to limit the market growth. Also, lack of technical barriers is projected to hinder market growth in the upcoming years.
Laser Pointer Market REGIONAL INSIGHTS
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"Growing Demand from Military Sector in North America to Drive Market Share "
North America is expected to account for the laser pointer market share owing to increase usage for military and entertainment purposes. The light is extensively used in the region for military actions. The laser is used in business and educational presentations. The pointers help enhance verbal guidance and increased need for light for entertainment is anticipated to accelerate market progress in the forthcoming years. Further, the mechanism of the technology is extensively used in the explanation, which is expected to accelerate market growth.
Asia Pacific is anticipated to hold the second-position in the market owing to increased need from the entertainment sector. The laser is used in business and educational presentation. The pointers help enhance verbal guidance and increased demand for light in entertainment is anticipated to accelerate market progress in the forthcoming years. Increased number of manufacturing enterprises and the usage of light in a music festival for entertaining visual is estimated to boost market progress.
KEY INDUSTRY PLAYERS
"Leading Players Adopt New Strategies to Stay Competitive"
The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.
List of Market Players Profiled
- Quarton (Taiwan)
- Kensington (U.S.)
- Logitech (Switzerland)
- SMK-Link (U.S.)
- Targus (U.K.)
- ASiNG (U.S.)
- Deli (U.S.)
- Vson (Australia)
- Qiao Rong (China)
- Xuzhou Tiancai (China)
- Knorvay
- Quartet
REPORT COVERAGE
This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
Frequently Asked Questions
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What is the leading region in the laser pointer market?
The leading region in the laser pointer market is North America.
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What are the driving factors help pushing the laser pointer market?
The drivers of the laser pointer market are increased need for educational and business presentations, huge demand from industrial and research use, and growing need for entertainment and leisure purpose.
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Which are the key player or most dominating companies functioning in the laser pointer market?
Quarton, Knorvay, Quartet, Kensington, Logitech, SMK-Link, Targus, ASiNG, Deli, Vson, Qiao Rong, and Xuzhou Tiancai are the key player or most dominating companies functioning in the laser pointer market.
