The Worldwide 3D Metrology Industry is Expected to Reach $14 Billion by 2024 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “3D Metrology – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global market for 3D Metrology is projected to reach US$14 Billion by 2024, registering a compounded annual growth rate (CAGR) of 8.6% over the analysis period.
United States represents the largest regional market for 3D Metrology, accounting for an estimated 27.3% share of the global total. The market is projected to reach US$4.1 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 10.6% over the analysis period.
The ability to provide quick, timely and accurate results is fueling growth in the 3D metrology market. Growth in the 3D metrology market is being driven by the rising need for maintaining high quality standards in manufacturing operations. Given its ability to capture large 3D data volumes for analysis and modeling, 3D metrology is used in manufacturing, automotive, energy & power, aerospace & defense, medical, heavy machinery, architecture and construction, as well as electronics sectors. The growing adoption of automation and emergence of smart factories are driving adoption of 3D metrology.
However, high installation costs of 3D metrology plants together with lack of trained manpower for operating 3D metrology devices is expected to impede market growth. Asia represents a key market, led by the positive economic environment especially in emerging markets.
Also, with Asia-Pacific being a major automotive manufacturing hub, there is growing demand for 3D metrology products for conducting quality inspections during the manufacturing process in the industry. 3D metrology offerings are also witnessing high demand from the electronics industry, with the products being used in conducting quality inspections during the manufacturing process. Growth in North America is being driven by rising demand from automotive and aerospace industries. In addition to strong government support, the region is home to a large number of metrology equipment distributors.
Select Competitors (Total 125 Featured) –
- 3D Systems, Inc.
- Applied Materials, Inc.
- Automated Precision, Inc.
- Bruker Corporation
- Carl-Zeiss Industrial Metrology LLC
- Creaform, Inc.
- CyberOptics Corporation
- FARO Technologies, Inc.
- Hexagon AB
- Jenoptik AG
- Keyence Corporation
- KLA Corporation
- Mitutoyo Corporation
- Nikon Metrology NV
- Perceptron, Inc.
- Renishaw plc
- WENZEL Group GmbH Co. KG
- Zygo Corporation.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of Covid-19 and a Looming Global Recession
- An Introduction to 3D Metrology
- Coordinate-Measuring Machine (CMM)
- Laser Scanners
- Video Measuring Machine (VMM)
- 3D Metrology Vs Machine Vision
- New Standards in Metrology
- Focus on Quality Control and Inspection in Production Processes Propels Growth in the 3D Metrology Market
- CMMs Dominate 3D Metrology Market
- Quality Control and Inspection at the Forefront of Growth
- 3D Metrology Market Worldwide by Application (in %) for 2019
- Automotive Industry Emerges as the Major End-Use Market for 3D Metrology
- Asian Economies Spearhead Market Growth
- Global Economic Scenario Influences Market Dynamics
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Robust Opportunity for Precision Parts Manufacturing Pushes Up the Importance of Industrial 3D Metrology
- Global Parts & Components Market (in US$ Billion) for the Years 2020, 2022 and 2024
- Growing Emphasis on Improving Productivity and Quality Drives Demand for 3D Metrology in Automotive Industry
- Automobile Production Dynamics Set the Pace of Growth for 3D Metrology Market
- Global Passenger Car Production (In Million Units) for the Years 2010, 2016, 2020, and 2024
- Global Passenger Car Sales (In Million Units) for the Years 2010-2024
- Increasing Emphasis on Automation in Auto Industry Bodes Well for the Market
- With Manufacturing Moving towards Industry 4.0, 3D Metrology to Become Integral to Production Processes
- Shift towards Industry 4.0 Drives Opportunities in 3D Metrology Market: Global Industry 4.0 Revenues in US$ Billion for 2019, 2021, 2023 and 2025
- Automation of Metrology Processes Necessary for Maximizing Productivity in Industry 4.0
- Automation in the Aerospace Industry Fuels Demand for 3D Metrology Solutions
- Aerospace Industry Makes Use of Non-Contact Metrology
- New Technologies for Faster Data Collection from API and Hexagon
- Visibility and Automation Enabled by Capture3D’s ATOS Systems
- Laser Radar: Rising Popularity of Laser Radar Technology in Aerospace Applications
- Measuring Accuracy in Changing Application Requirements
- New Applications and CFD Analysis
- 3D Metrology Aids in Retrofitting of Defense Flares
- Heavy Equipment Industry Promises Bright Prospects
- Focus on Improving Product Quality in Various Industries Fosters Growth in Optical 3D Metrology Market
- Optical 3D Metrology: Vital Role in Development Process of Lightweight Components
- Coordinate Measuring Machines (CMMs): The Tried and Tested 3D Metrology Products
- Optical 3D Metrology Solutions Aid in Foundry Modernization
- 3D Metrology Play Vital Role in Reducing Errors in Medical Device Design and Performance
- Optical 3D Metrology for Medical Applications: A Review
- Robust Activity in the Renewable Energy Sector Spurs Market Opportunities in 3D Metrology Space
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/n14cyr
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
