3D Metrology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
3D Metrology Market – Introduction
With the increasing demand for quality control, virtual simulations, and reverse engineering in the manufacturing industry, there has been a significant rise in the demand for ‘state-of-the-art’ 3D metrology equipment in industries such as aerospace, defense, automotive, construction, power, electronics, etc. Owing to the surging demand of these equipment, sales of 3D metrology surpassed a value of US$ 9 Bn in 2018 and are anticipated to grow incessantly.
Increase in the research and development spending by key players with aforethought to diversify their portfolio and sustain their position in the 3D metrology market is expected to deliver promising growth opportunities to the market. However, hefty costs for the installation of 3D metrology facilities, coupled with lack of competency to operate 3D metrology equipment could cause a hesitance for the adoption of these devices among the end-users, which could impede the growth of the 3D metrology market.
3D Metrology Market – Novel Developments
Some of the most prominent competitors operating in the competitive landscape of global 3D metrology market include –
3D Metrology Market – Dynamics
Automotive Applications to Generate Demand for 3D Metrology
With the innovation fueled in the automotive space, 3D metrology has been finding extensive applications for the inspection, measurement, and to conduct a quality check of numerous components. With the recognized limitations and drawbacks of customary strain gauges, high utilization of optical measurement systems and CMMs is witnessed in the automotive applications, which has fueled the growth of the 3D metrology market. Additionally, futuristic vehicles like electric vehicles and driverless cars are some of the emerging areas, where 3D metrology will find a huge scope, thereby, holding promising growth prospects for the 3D metrology market in the forthcoming years.
Industry 4.0 to Hold Lucrative Growth Opportunities for the 3D Metrology Market
Advent of industry 4.0 has unlocked avenues for the automation of processes and seamless data exchange, especially in the manufacturing technologies. As a result, 3D metrology has been finding
an impressive adoption rate in industries such as aerospace, defense, automotive, construction, architecture, electronics, medical, and power. With the incessantly growing market for CMM in the manufacturing industry, there has been a substantial increase in the sales of 3D metrology equipment for obtaining precise measurements, which is anticipated to keep the demand for the 3D metrology equipment surging even in the upcoming years.
Asia Pacific to Remain a Leading 3D Metrology Market
The 3D metrology market continues to grow at an accelerated pace in the Asia Pacific region, on the back of economic vigor boasted by China and Japan. Large demand for the equipment prevails from the electronics and automotive industry to conduct quality inspections during the production process. Since Asia Pacific enjoys its status as a significant automotive market with the presence of a large number of manufacturing plants, demand for 3D metrology is expected to grow consistently in the region.
3D Metrology Market – Segmentation
The 3D metrology market can be bifurcated on the basis of:
3D Metrology Market Segmentation – By Offering
Depending on the offering, the 3D metrology market can be segmented into:
3D Metrology Market Segmentation – By Product
3D Metrology Market Segmentation – Application
Based on the application, the 3D metrology market can be classified into:
3D Metrology Market Segmentation – End-User Industry
Depending on the end-user industry, the 3D metrology market can be segmented into:
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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