Global Optical Measurement Market (2021 to 2026) - Featuring Nikon, Hexagon and Olympus Among Others - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jul 5, 2021--
The “Optical Measurement Market - Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The optical measurement market is projected to grow at a CAGR of 6.06% to reach US$6.310 billion by 2026, from US$4.180 billion in 2019.
- Nikon Corporation
- Hexagon AB
- Keysight Technologies Inc.
- R&D Vision
- AMETEK, Inc.
- Olympus Corporation
- FARO Technologies Inc.
- Carl Zeiss AG
- Jenoptik AG
- Keyence Corporation
Optical measurement is an accepted way of monitoring critical dimensions of manufactured parts in several industries. It is a noncontact, fast, accurate, and reliable way. The optical measurement systems range from compact benchtop units to large-travel floor models. These solutions are used for the measurement of different components for the development, inspection, and evaluation of products to ensure they meet the stringent industry standards and regulations enabling the optimal performance of the product.
The optical measurement market is estimated to grow substantially on account of its ability to significantly reduce the duration of inspection as compared to the conventional methods allowing the manufacturers in different industry verticals to optimize the production cost. The growing global concerns regarding the efficient use of energy is leading the firms in the automotive, aerospace and defense industry to utilize lightweight material in the production of vehicle and aircraft respectively that are required to be comprehensively tested, thus fueling the growth of the market. In addition, the increasing demand for 3D metrology services, the growing adoption of advanced optical measurement solutions, and the increasing spending on research and development are the key drivers of the optical measurement market during the forecast period.
Technological advancements have encouraged the development of several industries, owing to these advancements many industries are getting inclined towards automation for providing high-quality products. Many companies in diverse industries are using optical measurement instruments to maintain the accuracy of their products during the manufacturing process. In the pharmaceuticals and chemical industry, the increasing focus on the development of high purity grade products is expected to increase the demand for optical measuring instruments. Lately, the demand for video measuring machines (VMM) has been on a rise owing to their features such as high speed and increased accuracy. The advancement in science and technology is expected to propel market growth in the next few years.
By equipment, the Coordinate Measuring Machine (CMM) segment is projected to hold a significant market share due to its ability to easily measure large objects owing to its inherent structure. By offering, the hardware and software segments are estimated to hold a notable market share owing to the use of optical measurement tools in diverse industries. By industry vertical, the automotive vertical is expected to hold a dominant market share owing to the use of optical measurement tools for inspection, measurement, and quality checking of various components in the industry.
Furthermore, an increase in the number of patients having an eye-related problem is further expected to increase the use of optical measuring instruments for diagnosis purposes apart from their other uses in the healthcare industry. Geographically, the Asia Pacific region is projected to hold a vital market share owing to the large-scale adoption of optical measurement technologies for diverse industries. The growing adoption of advanced precision measurement technology by manufacturers with an increasing focus on the accuracy and reliability of manufactured products is further estimated to fuel the market growth in the region.
- Increasing trend for 3D metrology services
- Growing industrialization and emergence of Industry 4.0
- Price sensitivity
Impact of COVID - 19
The novel coronavirus pandemic has adversely affected several industries across the globe. Industries such as automotive, aerospace and defense, energy and power, and manufacturing were adversely impacted due to the virus outbreak. The business operations of these industries were put to a halt, which in turn impacted the growth of the optical measurement market. However, the healthcare sector was on a rise owing to the increasing requirement of healthcare facilities, globally, this, in turn, increased the demand for the optical measurement market.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Optical Measurement Market Analysis, By Equipment
5.3. Profile Projector
5.4. Digitizers and Scanners
5.6. Video Measuring Machines
5.7. Coordinate Measuring Machines
6. Optical Measurement Market Analysis, By Offering
7. Optical Measurement Market Analysis, By Industry Vertical
7.4. Energy and Power
7.5. Aerospace & Defense
7.6. Consumer Electronics
8. Optical Measurement Market Analysis, By Geography
9. Competitive Intelligence
9.1. Competitive Benchmarking and Analysis
9.2. Recent Investment and Deals
9.3. Strategies of Key Players
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/wchlxe
View source version on businesswire.com:https://www.businesswire.com/news/home/20210705005255/en/
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INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS
SOURCE: Research and Markets
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PUB: 07/05/2021 11:23 AM/DISC: 07/05/2021 11:23 AM