Northbrook, IL 60062 -- (SBWIRE) -- 02/02/2023 -- The 3D metrology market is valued at USD 11.2 billion in 2023 and is projected to reach USD 16.4 billion by 2028, growing at a CAGR of 8.0% during the forecast period according to a new report by MarketsandMarkets™. The growing need for increased production speed by electronics manufacturing services companies, high focus on quality control in the manufacturing sector, increased research and development (R&D) investments, rising use of 3D data for analysis and modeling in various industries are expected to boost the 3D metrology market.
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3D metrology market for the automotive industry is expected to hold the largest share from 2023 to 2028
In 2022, the automotive segment accounted for the largest share of the 3D metrology market and is expected to hold its dominant position throughout the forecast period. 3D metrology is required in the automotive industry for the inspection, measurement, and quality checking of various components. The automotive industry is 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. For example, Cyberoptics (US) supplied a multinational automotive supplier with CyberOptics SQ3000 3D AOI System for fast, accurate, and reliable inspection technology. This benefitted the automotive supplier with a lowered escape rate, cost savings through early defect detection, and reduced operator costs.
Coordinate measuring machines to account for the largest market share during the forecast period
The key factors responsible for the larger market share of the coordinate measuring machine segment are rising need for precision dimensional analysis and validation of geometric accuracy in the manufacturing, aerospace & defense, and automotive sectors followed by medical, electronics, energy & power, and heavy machinery industries for maintaining product quality. The growth of the this segment can also be attributed to the growing demand for non-contact CMMs for quality control and inspection applications in above mentioned industries.
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US is expected to account for the largest share in North America in 2023
The US is expected to account for the largest share of ~77% of the 3D metrology market in North America in 2023. The presence of several automobile manufacturers, research institutes, and large semiconductor companies in this region has increased the demand for 3D metrology equipment. The sales of 3D metrology equipment are expected to rise in key industrial segments in North America, including automotive, aerospace & defense, medical, and heavy machinery. In the US, various 3D metrology systems are used for different applications, such as quality control and inspection, reverse engineering, and virtual simulation, across verticals such as automotive and, aerospace & defense. The US is among the first countries to adopt 3D metrology in new and emerging applications such as entertainment, forensics, and crime scene investigation.
The major players operating in the 3D metrology market include Hexagon AB (Sweden), FARO Technologies, Inc. (US), Keyence Corporation (Japan), Jenoptik AG (Germany), Nikon Corporation (Japan), Mitutoyo Corporation (Japan), ZEISS Group (Germany), KLA Corporation (US), Perceptron, Inc. (US), Renishaw plc (UK), Creaform (Canada), Baker Hughes Company (US), CyberOptics Corporation (US), Trimble, Inc. (US), 3D Systems, Inc. (US), Automated Precision, Inc. (US), and Metrologic Group (France), among others.
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