Optical Metrology Market: Introduction
Transparency Market Research delivers key insights on the global optical metrology market. In terms of revenue, the global optical metrology market is estimated to expand at a CAGR of 4.9% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global optical metrology market.
The global optical metrology market is broadly affected by several factors, including increasing application in a wide range of sectors, rising adoption of advanced technology, and high adoption in the automotive industry. Thus, expanding application of optical metrology in different sectors is propelling the global market.
Optical Metrology Market: Dynamics
The adoption of smaller as well as complex components in various industries has been increasing for the past few decades, and optical metrology is ideal for this due to less damage caused by non-contact optical metrology. Moreover, it is faster as compared to other technologies. The 3D metrology is being adopted for advanced manufacturing, and it has become a standard in industries such as consumer electronics, automotive, and medical. Manufacturers are developing new products to meet changing consumer requirements. For instance, Sensofar Metrology has launched high-performance non-contact 3D optical large area metrology system for micro scale measurement.
Moreover, the usage of optical metrology for manufacturing automation is increasing, as manufacturing process includes automated measurement. Optical metrology is used to move robots and increase accuracy to 100 micrometers, which enhances the automation. Moreover, the demand for automated metrology systems is rising where high frequency part inspection is required. Furthermore, growing emphasis on productivity, expansion, and traceability is fueling the demand for optical metrology. These factors are having a positive impact on the market.
However, factors, such as high cost associated with optical metrology equipment, are having a negative impact on the market. Latest and robust technologies are more expensive, which increases the cost of the final product. This factor may hamper the optical metrology market.
Optical Metrology Market: Prominent Regions
The optical metrology market in North America is expected to expand during the forecast period, owing to the presence of key market players, technological advancements, and rising usage of optical metrology in various applications in the region. The optical metrology market in Europe is projected to expand considerably during the forecast period, due to increasing investments by manufacturers in the region and rising production in the automotive industry. The Asia Pacific optical metrology market is likely to expand during the forecast period, owing to increasing usage of optical metrology in aerospace and automotive sectors and presence of a large number of players designing and producing optical metrology equipment.
Optical Metrology Market: Key Players
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., and Quality Vision International.
Global Optical Metrology Market: Segmentation
Optical Metrology Market, by Offering
Optical Metrology Market, by Equipment
Optical Metrology Market, by End-use Industry
Optical Metrology Market, by Region
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