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Remote Working, Innovations in COVID-19 Testing Help Gain Buoyancy

Adapting to different circumstances and opting for a flexible approach are helping companies in the optical metrology market gain buoyancy during the coronavirus crisis. Optical Metrology Services Ltd. - a provider of innovative inspection, measurement, analysis, and verification for the energy industry, is adopting new methods of work to remain fully operational amid the COVID-19 outbreak. The successful remote working with the help of robots in the context of conducting the survey of an underground pipe is transforming the market landscape.

Though poor market sentiments are causing a slowdown in the global optical metrology market, innovations are grabbing the attention of stakeholders. AMS - a designer and manufacturer of sensors & sensing solutions, has announced to provide its latest sensor technology to ELDIM - a France-based provider of the optical metrology technology to develop COVID-19 professional rapid testing. This testing is found to have benefits over the polymerase chain reaction (PCR) testing.

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Vibration, Turbulence Cause Shortcomings with Use of Conventional Metrology Solutions

The journey toward the Industry 4.0 environment is continuously evolving, and its evolution is linked with improvements in optical metrology solutions. Such trends are contributing to the growth of the optical metrology market. However, it has been found that the demand from users of optical metrology tools for greater data density in applications is often extreme complex. This prohibits the use of some conventional metrology solutions due to vibration or turbulence. Stakeholders are increasing their R&D to overcome this issue, since extracting maximum data possible from each scan is critical to enabling superior metrology on a wide range of samples.

Solutions today are being developed and evolved with a combination of hardware and software to correct vibration during a measurement.

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Non-contact Optical Technologies for Automotive Metrology Gain Prominence

The automotive sector is anticipated to dictate the highest revenue share among all end use-industries in the optical metrology market. This explains why companies such as Precitec - a provider of automated laser technology & 3D measurement technology, is increasing its focus in automotive metrology, since e-mobility is bringing a significant change in the market landscape. Companies in the optical metrology market are increasing the availability for state-of-the-art optical technologies that the automotive industry needs, owing to its ever-changing nature.

The market is projected to surpass valuation of US$ 5 Bn by the end of 2031. Semiconductor companies are providing non-contact optical technologies for automotive metrology. These involve automated inline inspection of automotive glass i.e. windscreens through high-speed measurements of glass thickness, shape, and topography.

Optical 3D Metrology Helps Stakeholders Ensure Safety Requirements in Turbine Engines

After the automotive industry, companies in the optical metrology market establishing stable revenue streams from the aerospace & defense industry, which is predicted to dominate the second highest revenue among all end-use industries. High resolution, optical 3D metrology helps stakeholders ensure safety requirements in turbine engines, since they are highly specialized aircraft components. Bruker Alicona - a specialist in dimensional metrology and surface roughness measurement, is building its portfolio in aerospace applications with the help of high-resolution optical 3D metrology and collaborative robots.

The dimensional metrology is helping to increase the efficiency and safety of turbine engine components. Such findings are adding to the credibility of stakeholders in the optical metrology market. Non-contact, dimensional measurement combined with industrial automation capabilities delivers a number of time saving measures in quality assurance in turbine engines and other aerospace applications.

Miniaturization Fueling Demand for 3D Optical Metrology in Electronics Manufacturing

The 3D optical metrology is being publicized as a versatile tool for advanced manufacturing in electronics, automotive, medical, and semiconductor sectors, among others. AMETEK, Inc. - a U.S. global manufacturer of electronic instruments and electromechanical devices, is increasing conversation about 3D optical metrology in the field of electronics manufacturing through its blogs. The growing demand for smaller and more complex components in electronic devices is translating into revenue opportunities for companies in the optical metrology market.

Companies in the optical metrology market are constantly improving in non-contact optical metrology solutions and developing touchless dimensional measurement devices to help manufacturers advance in electronics innovations. Extreme precision and measurement repeatability are fueling the demand for 3D optical metrology in electronics manufacturing.

Optical 3D Scanners Help Predict Service Life of Steam Turbines

Optical 3D scanners are suited for quality control of complex freeform surfaces. Companies in the optical metrology market are unlocking growth opportunities in construction and inspection analysis of energy and power components & equipment. Right from design to operation of a thermal power turbine, optical 3D scanners help to note the smallest details. These scanners are necessary, since poor quality affects safety, efficiency, and service life or turbines. GOM, a company of the ZEISS Group, specializes in industrial 3D coordinate measuring technology, and is helping stakeholders in the energy & power industry to meet high requirements and accelerate production of machines & components.

Companies in the optical metrology market are providing optical 3D scanners to help stakeholders predict the service life of gas and steam turbines to ensure that components do not fail prematurely.

Custom Optical Metrology Approach Enables Development of High Quality Optical Systems

Robust optical metrology services allow customers to achieve the desired performance in their optical systems. Syntec Optics - a provider of optics assemblies and electronics assemblies, among other solutions, is gaining recognition for its optical metrology services that help to meet high requirements for plastic molded optics, diamond turned optics, and glass molded optics. Companies in the optical metrology market are increasing efforts to accommodate vertically integrated in-house optical metrology services to ensure high precision and accuracy in a range of optical systems.

Since quality is becoming the forefront of a superior product, companies are improving their optical metrology services to increase the availability of precision optics and optomechanics systems that play a crucial role in medical and defense applications. Service providers are adopting the custom optical metrology approach to develop high quality optical systems.

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Analysts’ Viewpoint

Companies in the optical metrology market are increasing their focus in essential industries such as medical, defense, and energy & power to support mission-critical projects and applications. The optical metrology market is expected to clock a modest CAGR of ~5% during the forecast period. However, vibration has been one of the biggest challenges for achieving the robust metrology with 3D optical metrology instruments. Hence, companies should introduce solutions with a combination of hardware and software systems to detect & correct vibration or turbulence during a measurement. E-mobility in the automotive sector is creating future growth opportunities for companies. High resolution, optical 3D metrology should be deployed in aerospace and power generation sectors.

Optical Metrology Market: Overview

  • According to Transparency Market Research’s latest research report on the global optical metrology market for the historical period of 20172019 and the forecast period of 20212031, increasing demand for optical metrology solutions, rising investments in research & development, and surging adoption of 3D optical metrology solutions are major factors that are expected to boost the global optical metrology market during the forecast period
  • The global optical metrology market has been segmented based on offering, hardware, software, and services. In terms of offering, the hardware segment has been further classified into cameras, lenses & sensors, light sources, and others. The hardware segment of the optical metrology market is projected to expand at a CAGR of 5.19% from 2021 to 2031, due to growing installations of metrology inspection and measurement equipment in manufacturing plants. However, the number of metrology service providers have been increasing for the past few years due to the developments of 3D measurement solutions.
  • Based on end-use industry, the market has been segregated into automotive, electronics manufacturing, aerospace & defense, energy & power, industrial, medical, and others. The automotive segment is projected to expand at a CAGR of 5.81% during the forecast period, due to increasing usage of optical measurement systems and coordinate measuring machines as an alternative to conventional strain gauges. Additionally, the aerospace & defense as well as industrial segments are expected to expand considerably in the near future.
  • In terms of revenue, the global optical metrology market is expected to exceed the value of US$ 5 Bn by 2031, expanding at a CAGR of ~5% during the forecast period

Rising Awareness about Benefits of Optical Metrology

  • Optical metrology offers several advantages and hence, it is being adopted in industries such as automotive, medical, and aerospace. The advantages include accuracy and limited laser as well as quantum noise. Additionally, the measurement through optical metrology can be obtained rapidly, which makes it an ideal process. Optical metrology also measures without marking the surfaces such as antibody sheet metal, composite parts, as well as surgical implants.
  • These benefits of optical metrology enable it to become the go-to technology for manufacturers in order to achieve competitive advantage. These factors are boosting the global optical metrology market.

Increasing Demand for Optical Metrology in Automotive Industry

  • Demand for high precision manufacturing is increasing in the automotive industry due to rising focus on safety. Moreover, the cost of low quality control varies between 15% and 20% and therefore, the adoption of optical metrology helps manufacturers to reduce losses and boost revenues.
  • The automotive industry witnesses various applications of optical metrology, which include fuel injection nozzles, high resolution measurement of valve seat roundness, and automatic cam inspection. Moreover, rising production of vehicles in countries such as China, Japan, the U.S., and Germany is fueling the demand for optical metrology. These factors are boosting the market.

Optical Metrology Market: Competition Landscape

  • Detailed profiles of providers of optical metrology have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global optical metrology market are
    • Nikon Instruments Inc.
    • Carl Zeiss Industrial Metrology LLC
    • FARO Technologies
    • Hexagon AB
    • KLA-Tencor Corporation
    • Micro-Vu
    • Mitutoyo Corporation.
    • Nanometrics Inc.
    • Nova Measuring Instruments
    • S-T Industries, Inc.
    • Quality Vision International

Optical Metrology Market: Key Developments

  • Key providers of optical metrology, such as Nikon Instruments Inc, Carl Zeiss Industrial Metrology LLC., KLA-Tencor Corporation, and Mitutoyo Corporation are focusing on technological developments
  • Some other key developments in the global optical metrology market are highlighted below:
    • In February 2020, Mitutoyo Corporation and Kitov Systems Limited signed a partnership agreement to integrate Kitov's Automated Planning and Smart Visual Inspection Technology into Mitutoyo's metrology solutions. As part of the agreement, Mitutoyo is estimated to invest and become a shareholder in Kitov.
    • In February 2020, KLA-Tencor Corporation released the launching of the new Archer 750 imaging-based IC metrology systems. This new metrology system helps IC manufacturers to maintain stringent control of the complex processes required for applications such as 5G, AI, data centers, and edge computing.
    • In July 2018, Quality Vision International introduced SmartScope SP high-performance dimensional measuring systems to the metrology marketplace in North America. SmartScope SP optics are designed for maximum imaging performance and flexibility over a wide range of applications. This product launch is estimated to help the company gain competitive advantage.
  • In the global optical metrology market report, we have discussed individual strategies, followed by company profiles of providers of optical metrology. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global optical metrology market.

Optical Metrology Market – Scope of Report

A new study on the global optical metrology market is published by Transparency Market Research (TMR). It presents detailed information on key market dynamics, including drivers, trends, and challenges for the global optical metrology market as well as its structure. TMR’s study offers valuable information on the global optical metrology market in order to illustrate how the market is expected to expand during the forecast period i.e. 2021–2031.

Key indicators of market growth, which include value chain analysis and compound annual growth rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global optical metrology market.

An extensive analysis of business strategies adopted by leading market players is also featured in TMR’s study on the global optical metrology market. This can help readers understand key factors responsible for growth of the global optical metrology market. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the global optical metrology market. This data would guide market players in making apt decisions in the near future.

Key Questions Answered in TMR’s Study on Optical Metrology Market

  • What would be the Y-o-Y growth trend of the global optical metrology market between 2021 and 2031?
  • What is the influence of changing trends on the offering segment of the global optical metrology market?
  • Would Asia Pacific continue to be the most dominant regional market for providers of optical metrology over the next few years?
  • Which factors would hinder the global optical metrology market during the forecast period?
  • Which are the leading companies operating in the global optical metrology market?

Research Methodology

A unique research methodology is utilized by TMR to conduct comprehensive research on the global optical metrology market and arrive at conclusions on future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.

Secondary research sources referred to by analysts during production of the report on the optical metrology market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to the production of TMR’s study on the global optical metrology market as a primary research source.

These primary and secondary sources provided exclusive information during interviews, which served as a validation from leading players operating in the global optical metrology market. Access to an extensive internal repository as well as external proprietary databases allowed this report to address specific details and questions about the global optical metrology market with accuracy. The study also uses a top-down approach to assess the numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects of the global optical metrology market more reliable and accurate.

Optical Metrology Market – Segmentation

TMR’s study of the global optical metrology market segments the market based on offering, equipment, end-use industry, and region. Changing market trends and other crucial market dynamics associated with segments of the global optical metrology market have been discussed in detail in TMR’s study.

Offering
  • Hardware ( Cameras, Lenses & Sensors, Light Sources, and Others)
  • Software
  • Services
Equipment
  • Autocollimators
  • Measuring Microscopes
  • Profile Projectors
  • Optical Digitizers and Scanners [ODSs] (3D Laser Scanners, Structured Light Scanners, Laser Trackers)
  • Multi-sensor CMM
  • Video Measuring Machines (VMMs)
  • Others
End-use Industry
  • Automotive
  • Aerospace & Defense
  • Energy & Power
  • Electronics Manufacturing
  • Industrial
  • Medical
  • Others
Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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