Video Measuring System Market: Introduction
- Video measuring system is defined as a machine that optically amplifies the image of a part captured by a camera. The key function of the video measuring system is transformed to a video signal, which is analyzed by electronics and software so as to determine features and edges. Numerous advantages of using video measuring system include accurate measurement of profiles and surface features, accurate two-dimensional measurement of small parts, and measurement of various complex and simple features, suitable for manufacturing inspection and the shop floor and other benefits. Rising popularity of video measuring systems in defense, aerospace, and automotive sectors, which improve the measurement accuracy and overall performance of vehicles, is a major factor boosting the video measuring system market.
- COVID-19 has positively impacted the volumetric video market, due to an increase in need for efficient, reliable, and precise measurement technology. This, in turn, is expected to create significant opportunities for the video measuring system market during the forecast period.
Global Video Measuring System Market: Dynamics
Global Video Measuring System Market: Key Drivers
- Rise in adoption of noncontact measurement systems based on CNC, i.e. computer numerical control technology, is the major factor fueling the video measuring system market. Additionally, a rise in focus on quality control boosts the video measuring system market. Moreover, the advantage of video measurement method over conventional measurement technology and an increase in need for precise, reliable, and efficient measurement technology further propel the video measuring system market.
- Implementation of precision engineering practices by manufacturers with a focus on accuracy and reliability in the manufacture of medical devices further propels the adoption of video measuring system for medical application.
Asia Pacific to Account for Major Share of Global Video Measuring System Market
- In terms of region, the global video measuring system market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- The video measuring system market is anticipated to expand during the forecast period, due to a rise in rate of adoption of precise measurement advanced technologies by manufacturers in Asia Pacific. Numerous products such as satellites system components, navigation systems, electronics devices, automotive parts and components comprise several mechanical parts, most of which have tight tolerances that ought to be scrutinized before being assembled into final products. This is expected to boost the demand for video measuring systems in aerospace, automotive, and other industries. Thus, the video measuring system market in Asia Pacific is anticipated to expand significantly during the forecast period.
Global Video Measuring System Market: Competitive Landscape
Key Players Operating in Global Video Measuring System Market
Providers of video measuring system are implementing development strategies to enhance their presence and consolidate their share in the market. Video measuring system providers have adopted major growth strategies such as product launches, partnerships & acquisitions, and forming regional and global distribution networks in order to increase their presence in the market.
Key players operating in the global video measuring system market include:
- Advantest Corporation
- Carl Zeiss
- Carmar Accuracy Co.
- Dongguan Yihui Optoelectronics Technology
- Faro Technologies
- GOM Metrology
- Mitutoyo Corporation
- Nikon Corporation
- Sipcon Instrument Industries
- Vision Engineering
- Wenzel Prazision
- Zygo Corporation
In April 2020, Hexagon, a provider of software, sensor, and autonomous solutions, launched automated measurement system ‘BLAZE 600A, a completely automated three-dimensional optical measurement system designed for usage with robotic installations on shop floor. It utilizes the company’s established white light scanner technology that employs blue light LED illumination to speedily provide high precision freeform surface and feature data.
Global Video Measuring System Market: Research Scope
Global Video Measuring System Market, by Product Type
Global Video Measuring System Market, by Component
Global Video Measuring System Market, by Application
- Aerospace & Defense
- Heavy Machinery
- Customer Services
Global Video Measuring System Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of MEA
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.