3D Metrology Market Size Is Projected To Reach $12.6 Billion By 2025

The global 3D metrology market size is estimated to reach USD 12.6 billion by 2025, registering a CAGR of 8.8% over the forecast period, according to a study conducted by Grand View Research, Inc. Increasing demand for high precision and accuracy in measurement, advancements in 3D metrology systems, growing focus on quality control, and hike in R&D expenditure is expected to fuel the market growth over the forecast period.

The increasing adoption of 3D metrology equipment in industries such as automotive, aerospace, engineering and construction, medical, electronics, heavy machinery, and energy and power is one of the most influential factors behind the growth of the market. The surge in demand for coordinate measuring machine for inspection, measurement, and quality check of various components, coupled with better flexibility, less set-up time, and improved outcomes are expected to play a vital role in the growth of the market. In sectors such as automotive and aerospace and defense, the demand for 3D metrology equipment is particularly high and is subject to strict standardization to reduce measurement errors.

3D metrology is widely used for quality control and inspection applications to ensure smooth production while eliminating any additional costs. Within quality control and inspection, the technbology is used for dimensional analysis, machine calibration, CAD-based inspection, and alignment. The advent of industry 4.0 brings forth the rise of smart manufacturing technologies, which, in turn, adds new and diverse complexities within the inspection process. Hence, smart factories that are being developed will find these manufacturing technologies integral to their success.

Geographically, North America accounted for the highest 3D metrology market share in 2018 owing to established automotive and aerospace industries and the presence of many metrology equipment manufacturers and distributors. The Asia Pacific region, however, is expected to exhibit the highest CAGR owing to an increasing number of automotive and electronics manufacturing units in India and China. Automobile industries utilize 3D metrology for different applications such as quality control and inspection, and reverse engineering.

Some of the prominent players in the market include Zeiss International; Hexagon AB; FARO Technologies, Inc.; KLA Corporation; JENOPTIK AG; Nikon Corporation; KEYENCE CORPORATION; CREAFORM; API Metrology; Perceptron, Inc.; 3D Systems, Inc.; and Intertek Group Plc. These players have taken significant initiatives to increase their consumer reach, mostly through new product launch. For instance, in June 2018, Hexagon AB launched the Leica BLK3D solution for real-time 3D measurement. It enables immediate and precise three dimensional measurements from any image it captures.

Zeiss International, on the other hand, launched the metrology solution for e-Mobility that would provide seamless quality assurance for powertrain in hybrid, electronic, and hydrogen fuel cell vehicles. The company also concluded the acquisition of GOM in June 2019 to further strengthen its leading technological position together with GOM, especially in the area of optical digitization systems.

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Further key findings from the study suggest:

• The services segment is projected to register a CAGR of 9.1% from 2019 to 2025. The growing demand for calibration and measurement services across various product testing laboratories is expected to further fuel the segment growth
• The automotive segment dominated the market in 2018 and is expected to account for over 23.0% of the global 3D metrology market share in 2025. This is owing to growing number of automotive production units and complex vehicle designs in the emerging economies
• The Asia Pacific regional market accounted for over 18.0% of the global market in 2018 owing to the increasing automotive production in emerging countries, such as India, and Japan
• Prominent market players include Hexagon AB; Zeiss International; FARO Technologies, Inc.; Nikon Corporation; KLA Corporation; JENOPTIK AG; and KEYENCE CORPORATION.

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Grand View Research has segmented the global 3D metrology market based on component, hardware, services, end use, and region:

3D Metrology Component Outlook (Revenue, USD Million, 2015 - 2025)

• Hardware
• Software
• Services

3D Metrology Hardware Outlook (Revenue, USD Million, 2015 - 2025)

• Coordinate Measuring Machine (CMM)
• Optical Digitizer & Scanner (ODS)
• Video Measuring Machine (VMM)
• 3D Automated Optical Inspection System (AoI)

3D Metrology Services Outlook (Revenue, USD Million, 2015 - 2025)

• Quality Control & Inspection
• Reverse Engineering
• Virtual Simulation
• 3D Scanning

3D Metrology End-use Outlook (Revenue, USD Million, 2015 - 2025)

• Aerospace
• Automotive
• Medical
• Construction & Engineering
• Heavy Machinery
• Others

3D Metrology Regional Outlook (Revenue, USD Million, 2015 - 2025)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East and Africa

About Grand View Research        

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more info visit @ https://www.grandviewresearch.com