3D Metrology Market by Product (CMM, ODS, VMM, 3D AOL) Global Forecast to 2024
The 3D metrology market was valued at USD 9.5 billion in 2018 and is expected to reach USD 16.2 billion by 2024, at a CAGR of 9.3% from 2018 to 2024. The major driving factors for the 3D metrology market are the highly accurate inspection owing to 3D data for modelling and analysis, focus on quality control, and increase in R&D spending. However, the lack of expertise to efficiently handle 3D metrology systems and high cost incurred for setting up the 3D metrology facility are expected to limit the growth of this market.
Today, an emerging trend in the automation incorporates metrology solutions for absolute measurement and inspection in the factory. By automating the inspection task, companies can benefit from higher repeatability in their inspection process, increased inspection frequencies, and faster response in the process through a variety of techniques including direct machine tool feedback. Factory automation and robotic automation propel the market for 3D metrology.
Increasing adoption of CMM in industries such as aerospace & defense, automotive, medical, electronics, energy & power, and heavy machinery to maintain product quality is the major driver for the growth of the hardware market. High precision and accurate measurements can be achieved by CMM. Increased flexibility, reduced set-up time, improved accuracy, and enhanced productivity are the major advantages of CMM over conventional gaging methods.
3D metrology market for the automotive industry to grow at a significant rate from 2018 to 2024. 3D metrology is required in the automotive industry for inspection, measurement, and quality checking of various components. The automotive industry is increasingly using optical measurement systems and CMM instead of conventional strain gauges, accelerometers, transducers, and extensometers for improving the safety and comfort level of a vehicle.
APAC continues to grow at a high rate, which can be attributed to the high economic growth witnessed by major countries such as China and Japan in this region. The key countries contributing to the growth of the 3D metrology market in APAC include Japan, China, India, and South Korea. Remaining countries contributing to the market are considered in the Rest of APAC; these countries are Australia, New Zealand, Taiwan, Singapore, Indonesia, and the Philippines. Automobile and electronics manufacturers use 3D metrology systems during the production process for quality inspections; as the number of automobile manufacturing plants is more in APAC than other regions, the demand for 3D metrology offerings is expected to grow rapidly in this region.
Cloud computing services offer effective cost and time saving. Rise in demand for Industry 4.0 and upsurge in demand for 3D metrology services are the major opportunities companies have in the 3D metrology market. Every business aims to lower its operating cost and maximize its profit margins. Cloud storage evades large capital expenditure of buying servers and physical hard drives. Also, Industry 4.0 or smart factory is a new phase of industrial revolution, linking the manufacturing industry and information technology, as well as all associated activities. It is being adopted in manufacturing facilities with an objective to improve productivity by maximizing asset utilization, minimizing downtime, and improving labor efficiency.
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630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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