Northbrook, IL 60062 -- (SBWIRE) -- 10/31/2022 -- According to the new research report, the "3D Metrology Market with COVID-19 Impact by Product Type (CMM, ODS, VMM, 3D AOI, 3D X-ray &CT), Application (Quality Control & Inspection, Reverse Engineering, Virtual Simulation), Offering, End-user Industry and Geography - Global Forecast to 2027", published by MarketsandMarkets™, the 3D metrology market is projected to grow from USD 10.6 billion in 2022 and is projected to reach USD 15.9 billion by 2027; it is expected to grow at a CAGR of 8.4 % from 2022 to 2027.
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The growing use of 3D data for modeling and analysis in various industries, increased research and development (R&D) investments in 3D metrology is expected to fuel the growth of the 3D metrology market.
3D metrology market for automotive industry is expected to hold the largest share from 2022 to 2027
The automotive segment is expected to account for the largest share of the 3D metrology market. The shift in preference from off-line quality inspection to near-line or in-line measurement techniques, which enables higher sampling rates and shorter inspection times in the automotive industry, is expected to drive the growth of the industrial metrology market for this industry. The growing demand for electric vehicles and automobiles is expected to fuel the growth of the 3D metrology market in the near future.
CMM to dominate 3d metrology market during the forecast period"
The CMM segment is expected to account for the largest share of the 3D metrology market during the forecast period. The rising need for precision dimensional analysis and validation of geometric accuracy in the manufacturing, automotive, and aerospace & defense industries is the factor responsible for the largest share of the CMM segment. Moreover, the increasing adoption of CMMs in the medical, electronics, energy & power, and heavy machinery industries to maintain product quality is the major driver for the growth of the 3D metrology hardware market. The growth of the CMM segment can be attributed to the growing demand for non-contact CMMs for quality control and inspection applications in various industries, including automotive and aerospace & defense.
3D metrology market for quality control & inspection to witness highest CAGR during the forecast period
The quality control & inspection application segment is expected to dominate the 3D metrology hardware market from 2022-2027. The increasing competition and need for improving safety in industrial operations have resulted in the high adoption of quality control and inspection systems in various industries, including automotive, aerospace & defense, and semiconductors. In these industries, maintaining and enhancing the quality of a product is of high importance. Automotive and aerospace & defense are the major industries where 3D metrology is used for quality control and inspection. 3D inspection technologies such as laser scanning can be used to process the interiors and bodywork of vehicles in a reliable, quick, and accurate manner. Production-oriented measuring systems monitor the quality of automotive workpieces during the production process. They allow users to detect minimal flaws at an early stage, thereby helping in meeting the strict standards of the automotive industry. Quality management and assurance are steadily gaining importance in automotive development and manufacturing. Decentralized component production by automotive suppliers means that tight specifications must be met to guarantee a smooth final assembly and produce a high-quality product.
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North America held significant share of 3D metrology market in 2021 and is expected to follow the trend by 2027
North America is expected to account for the largest share of the 3D metrology market during the forecast period. High demand for 3D metrology products from automobile and aerospace & defense industries is one of the major growth factors for the North American 3D metrology market. Several companies offering 3D metrology products, including FARO Technologies (US), Hexagon (Sweden), Nikon Corporation (Japan), and Zeiss Group (Germany), have a presence in this region, which further adds to the growth of the regional 3D metrology market.
Key players in the 3D metrology market include Hexagon (Sweden), FARO Technologies (US), Nikon Corporation (Japan), ZEISS Group (Germany), KLA Corporation (US), KEYENCE (Japan), Jenoptik (Germany), Renishaw (UK), Mitutoyo Corporation (Japan), Creaform (Canada), GOM (Germany), CHOTEST TECHNOLOGY INC. (China). Apart from these, CyberOptics Corp. (US), Trimble, Inc. (US), SGS Group (Switzerland), Ikustec (Spain), Perceptron, Inc (US), 3D Systems (US), Automated Precision, Inc. (API) (US), CARMAR ACCURACY CO., LTD (Taiwan), Intertek Group Plc (UK), Bruker (US), Shining 3D (China), InnovMetric Software Inc (Canada), Artec 3D (US), Metrologic Group (Sweden), AccuScan (Ireland), Capture 3D (US), Polyrix (Canada) are among a few emerging companies in the 3D metrology market.
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