3D Metrology Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030
Global 3D Metrology Market: Snapshot
The 3D metrology market is growing with the advancement in the automotive industry globally. It is adopted for the collection of thorough information and for running evaluations. Inspection, castings, measurement, and quality evaluations of multiple tools, assembled plastic and sheet parts, and vehicle bodies, are involved in the 3D metrology. The aviation industry is also boosting the growth in the 3D metrology market. It specifies the technological system used to measure height, length, distance, and a 3D object point. For the analysis of defects in multiple objects and materials, 3D metrology is used. Different hardware and software tools, such as optical digitizer and scanner (ODS), 3D automated optical inspection (AOI), vide measuring machine (VMM), and coordinate measuring machine, is part of this metrology. The system helps convert 2D architectural models into videos and images for the qualitative design, manufacturing procedures, and production workflow. 3D metrology improves outcome while converting the real model into photographs and architectural films. Aerospace, automotive, energy, defense, medical, architecture, and power are some of the key industries that use the 3D metrology market. The automotive industry uses it at the initial stages. The common use includes designing, production, installation (single components and finished products), and automated production lines installation.
3D metrology is used to scan and inspect complex components and creation of the same into digital format. The increased expenditures on R&D of 3D metrology, quality control during goods manufacturing, and increased production demand from electronics manufacturing companies are the factors for the rise in the 3D metrology market. The gradual increase in cloud computing services and growing requirement for industry 4.0 are also providing spaces to players in the 3D metrology market. The need for a lot of money to set up a 3D metrology facility and scarcity of industry experts are constraining the growth in the 3D metrology market.
Global 3D Metrology Market: Overview
Increased spending on research and development in the 3D metrology sector together with augmented focus on quality control during the production process is expected to drive global 3D metrology market over the forecast period. In addition, demand for higher productivity by several electronics manufacturing companies are likely to drive the demand for 3D metrology in the years to come. Increasing demand for Industry 4.0 along with augmented use of cloud computing services is foreseen to offer players in the global 3D metrology market with growth immense opportunities.
The global 3D metrology market has been influenced by the outbreak of global pandemic, COVID-19. Many industry experts are of opinion that this pandemic will subside in the next few months to come. Taking into account the feedback and data from different industry specialists from various stages of 3D metrology value chain, it has been estimated that the size of the said market is likely to observe a decline.
This study titled “global 3D metrology market” contains an elaborate outline of the significant market segments, namely product type, application, offering, end user, and regional markets. It also makes an addition of the analysis of the prevailing competition in the global 3D metrology market over the assessment timeline, from 2020 to 2030.
Global 3D Metrology Market: Key Trends
The growth of the global 3D metrology market is primarily driven by the augmented adoption of this system by different sectors such as heavy machinery, energy and power, engineering and construction, automotive, and aviation. In addition to that, the introduction of Industry 4.0, together with increased expenditure by manufacturers in research and development activities is likely to play an important role in the expansion of the global 3D metrology market over the forecast period, from 2020 to 2030.
With the implementation of Industry 4.0, 3D metrology systems are likely to make way into the services sector. With many value chain members, Industry 4.0 focuses on digitizing tangible assets and their incorporation into digital ecosystems. Riding on the back of all these developments, the global 3D metrology market is expected to observe high growth in the years to come.
Global 3D Metrology Market: Competitive Assessment
The global 3D metrology market is considered moderately fragmented. Lucrative growth opportunities exist in the packaging sector, which is anticipated to encourage the advent of several new entrants in the market. Innovation is likely to plays a crucial role in gaining competitive edge over others. In November 2020, FARO Technologies made an announcement of launch Vantage Laser Tracker 6 Degrees of Freedom (6DoF) Probe. This new system makes an offering of excellent portability and accuracy. Innovations such as these are likely to work in favor of the global 3D metrology market in the years to come.
Some of the well-known players in the global 3D metrology market are listed below:
Global 3D Metrology Market: Regional Assessment
The global 3D metrology market is likely to be dominated by North America. Growth of the market is ascribed to the strong presence of manufacturers of pharmaceutical, automotive, and aerospace equipment in the U.S. In addition to that, one of the important reasons behind the demand for inline dimensional measurement solutions is the rapid automation of automotive manufacturing facilities.
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