3D Metrology Market Growing at 9.3% CAGR by 2024

The 3D Metrology Market 2024 report focuses on the various developments activities happening across the globe like technological advancement, new product launch and upgradation in the current product, innovation, opportunities and future growth of the market.

June 11, 2019 /MarketersMedia/ —

Complete report on 3D Metrology Market spread across 145 pages, profiling companies and supported with tables and figures is now available @ https://www.reportsnreports.com/contacts/discount.aspx?name=404809

The study covers the 3D metrology market. It aims at estimating the market size and growth potential of this market, across different segments, such as by technology, and region. The study also includes an in-depth competitive analysis of key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

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 players in the 3D metrology market include Hexagon AB (Sweden), Carl Zeiss AG (Germany), FARO Technologies (US), Mitutoyo Corporation (Japan) Nikon Corporation (Japan), KLA-Tencor (US), Jenoptik (Germany), Keyence (Japan), Perceptron (US), Creaform (Canada), GoM (Germany), Automated Precision (US), 3D Digital Corp (US), 3D System Corp (US), and Applied Materials (US).

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The major driving factors for the 3D metrology market are the highly accurate inspection owing to 3D data for modeling and analysis, focus on quality control, and increase in R&D spending. However, 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.

“Hardware segment to hold largest market share among other offerings in 2018”
Increasing adoption of 3D metrology equipment in industries such as aerospace & defense, automotive, architecture and construction, medical, electronics, energy & power, and heavy machinery to maintain product quality is the major driver for the growth of the hardware market. Also, the growing market for CMM drives the growth of hardware offering in the 3D metrology market. CMM 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 AoI to grow at highest CAGR from 2018 to 2024”
3D AoI inspection technology serves as an effective tool for volumetric and co-planarity inspections. It also provides details on height information of lead tips, BGAs, chip components, and reflowed solder fillets, as well as critical dimensional information of any height-sensitive component.

“Reverse engineering continues to grow at significant rate during forecast period”
Reverse engineering is used in industries for 3D modelling, reconstruction from the scanned data, and data for digital simulation. Both CMMs and 3D scanners are used for reverse engineering. However, using 3D scanners is advantageous as the measurement of soft or fragile parts, and detection of a large number of points can be done in a short time. Reverse engineering is used in areas such as turbine blades, car body parts, engine parts, gears, antennas, boat parts, and medical implants.

“North America to witness highest growth during forecast period”
The large market share is owing to the growing aerospace and automotive industries in North America and the presence of a large number of distributors for metrology equipment. The continuous technological advancements and financial support from the government further propel the growth of this market. Also, the presence of a number of automobile manufacturers and research institutes in this region has increased the demand for 3D metrology equipment, which is fuelling the growth of the North American 3D Metrology Market.

In the process of determining and verifying the market size for several segments and sub segments gathered through the secondary research, extensive primary interviews have been conducted with key industry experts in 3D metrology market space. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1–40%, Tier 2–25%, and Tier 3 –35%
• By Designation: C-level Executives–45%, Directors–25%, and Others –30%
• By Region: North America–55%, Europe –20%,APAC–15%, and RoW–10%

List of Tables
Table 1 3D Metrology Market, By Offering, 2015–2024 (USD Million)
Table 2 3D Metrology Hardware Market, By End-User Industry, 2015–2024 (USD Million)
Table 3 3D Metrology Software Market, By End-User Industry, 2015–2024 (USD Million)
Table 4 3D Metrology Market for Services, By Services, 2015–2023 (USD Million)
Table 5 3D Metrology Market for Services, By End-User Industry, 2015–2024 (USD Million)
Table 6 3D Metrology Market, By Product, 2015–2024 (USD Million)
Table 7 3D Metrology Market for CMM, By Type, 2015–2024 (USD Million)
Table 8 3D Metrology Market for CMM, By End-User Industry, 2015–2024 (USD Million)
Table 9 3D Metrology Market for CMM, By Region, 2015–2024 (USD Million)
Table 10 3D Metrology Market for ODS, By Type, 2015–2024 (USD Million)
Table 11 3D Metrology Market for ODS, By End-User Industry, 2015–2024 (USD Million)
Table 12 3D Metrology Market for ODS, By Region, 2015–2024 (USD Million)
Table 13 3D Metrology Market for VMM, By End-User Industry, 2015–2024 (USD Million) and more..

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