Increasing demand for quality control and inspection to drive the growth of the 3D metrology market
The 3D Metrology Market is expected to grow from USD 11.28 billion in 2017 to USD 17.05 billion by 2023, at a CAGR of 7.1% between 2017 and 2023. The major driving factors for the 3D metrology market are the highly accurate inspection owing to 3D data for modelling and analysis, increasing focus on quality control, and inability of traditional measurement devices to address many manufacturing issues. However, lack of expertise to handle 3D metrology systems efficiently and high cost incurred for setting up the 3D metrology facility are expected to limit the growth of this market.
Automotive industry holds the largest share of the 3D metrology market
The automotive industry accounted for the largest share of the 3D metrology market in 2016. The growing demand for automobiles in developing countries such as India and China is expected to propel the growth of the 3D metrology market. 3D metrology is required in the automotive industry for inspection, measurement, and quality checking of various components. The automotive industry has been increasingly using optical measurement systems and CMMs, instead of conventional strain gauges, accelerometers, transducers, and extensometers for improving the safety and comfort level of a vehicle.
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3D metrology market in APAC to grow at a high rate between 2017 and 2023
APAC continues to grow at the highest rate that can be attributed to the high economic growth witnessed by the major countries such as China and India in the region. APAC accounted for a share of 28.9% of the global 3D metrology market in 2016. The key countries in APAC include Japan, China, India, and South Korea. Some of the major manufacturers in the 3D metrology market in APAC are Nikon Corporation (Japan), Advantest Corporation (Japan), and Mitutoyo Corporation (Japan). Rest of APAC includes countries such as Australia, New Zealand, Taiwan, Singapore, Indonesia, and the Philippines.
The breakup of the profile of primary participants has been given below:
- By Company Type: Tier 1 = 33 %, Tier 2 = 45%, and Tier 3 = 22%
- By Designation: C-level Executives = 33%, Directors = 25%, and Others = 42%
- • By Region: North America = 35%, Europe = 29%, APAC = 24%, and RoW = 12%
The major players in the 3D metrology market include Hexagon (Sweden), FARO Technologies (US), Nikon Metrology (Belgium), Mitutoyo Corporation (Japan), Carl Zeiss Optotechnik (Germany), GOM (Germany), 3D Systems Corporation (US), 3D Digital Corporation (US), Perceptron (US), Creaform (Canada), GE Measurement & Control Solutions (US), Renishaw (UK), ZYGO Corporation (US), Advantest Corporation (Japan), WENZEL Prazision (Germany), OASIS Alignment Services (US), ATT Metrology Services (US), East Coast Metrology (US), H.S. & S. (US), Heliotis (Switzerland), SensoFar Group (Spain), Dimensional Metrology Services (Australia), Novacam Technologies (Canada), SHINING 3D Tech (China), and Zebicon (Germany).
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The 3D metrology market has been segmented on the basis of offering, product, application, end-user industry, and geography. The market, on the basis of offering, has been further segmented into hardware, software and services. On the basis of product, the 3D metrology market has been segmented into coordinate measuring machine, optical digitizer and scanner, video measuring machine, and 3D automated optical inspection system (3D AOI). On the basis of application, the market has been segmented into reverse engineering, quality control and inspection, virtual simulation, and others. The 3D metrology market. On the basis of industry, has been divided into aerospace & defense, automotive, architecture & construction, medical, electronics, energy & power, heavy machinery, geospatial, and others. On the basis of geography, the market has been segmented into the Americas, Europe, APAC, and RoW.
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The report would help the market leaders/new entrants in this market in the following ways:
• This report segments the 3D metrology market comprehensively and provides the closest approximations of the sizes of the overall market and subsegments for different applications and across various regions.
• The report helps stakeholders understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities pertaining to the market.
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