3D Metrology Market Worth $13.4 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Feb. 5, 2021 /PRNewswire/ -- According to the new market research report "3D Metrology Market with COVID-19 Impact by Product Type (CMM, ODS, VMM, 3D AOI, 3D X-ray &CT), Application (Quality Control & Inspection, Reverse Engineering, Virtual Simulation), Offering, End-user Industry, and Geography - Global Forecast to 2026", published by MarketsandMarkets™, the market is estimated to grow from USD 9.6 billion in 2021 to reach USD 13.4 billion by 2026; it is expected to grow at a CAGR of 6.8% from 2021 to 2026. A few key factors driving the growth of this market are increased R&D spending on 3D metrology, focus on quality control while manufacturing goods, and demand for higher productivity by electronics manufacturing services companies. Factors such as increasing adoption of cloud computing services and surging demand for industry 4.0 are expected to provide growth opportunities to players in the 3D metrology market.
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3D metrology market for hardware offering is expected to hold largest share during forecast period.
Hardware is expected to hold largest share of 3D metrology market from 2021 to 2026. The increasing adoption of 3D metrology equipment in industries such as aerospace & defense, automotive, architecture & construction, medical, electronics, energy & power, and heavy machinery to maintain product quality is the major driver for the growth of the hardware market.
CMM is expected to hold largest share of 3D metrology market during forecast period.
CMM is expected to hold largest share of 3D metrology market from 2021 to 2026. Better rigidity and higher accuracy are the major factors for the adoption of bridge CMMs for 3D metrology. The CMM market is growing rapidly and mainly focusses on quality control to capture large volumes of 3D data for modeling and analysis. The captured data are then shared with production scheduling, design, purchasing, and many other manufacturing company functions to ensure the accuracy of manufactured products. Other drivers of the CMM market include growing interest in Industrial Internet of Things (IIoT) and superior quality inspections.
The 3D metrology market for automotive industry is expected to hold largest share from 221 to 2026.
3D metrology is used in the automotive industry in the early stages of the design, production, and installation of single components and finished products, and the installation of automated production lines. The process of quality control and inspection is vital for production as it enables faster response to quality issues, thereby leading to the growing demand for 3D metrology systems in the automotive industry.
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3D metrology market in APAC to grow at highest CAGR during forecast period.
The key countries contributing to the growth of the 3D metrology market in APAC include Japan, China, India, and South Korea. Countries in APAC are involved in the manufacturing of defense aircraft, which is expected to increase the scope of 3D metrology inspection applications in the aerospace & defense industry. The demand for automobiles and electronic products in APAC is likely to grow in the coming years, which would result in an increased production of vehicles.
Hexagon (Sweden), FARO Technologies (US), KEYENCE Corp. (Japan), Jenoptik (Germany), Nikon Corp. (Japan), Mitutoyo Corp. (Japan), ZEISS Group (Germany), KLA Corp. (US), Perceptron (US), Renishaw (UK), Creaform (Canada), Baker Hughes Company (US), CyberOptics Corp. (US), Trimble, Inc. (US), 3D Systems, Inc. (US), Automated Precision, Inc. (US) and Metrologic Group (France) are few major players in 3D metrology market.
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