Video Measuring System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Video Measuring System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Report Digest
Video Measuring System Market – Introduction
Video measuring system is defined as machine that optically magnifies the image of a part and transforms it into a video signal. The video signal is then analyzed by the electronics and software to determine edges and features of the target object. Growing need for high-resolution imaging over large volumes and areas without any contact with the part has increased the adoption of video measurement technology across various industries.
This accelerating growth of the video measuring system market can be attributed to various factors, such as the burgeoning popularity of video measurement applications in aerospace & defense, medical, and automotive industries. These factors pushed the global video measuring system market exceeded US$ 420 million in 2018.
Video Measuring System Market – Competitive Landscape
- In April 2019, Hexagon’s Manufacturing Intelligence division launched a novel advanced positioning tool named LightRunner that transforms automated 3D optical measurement by eradicating the mapping time during setup & measurement of parts.
- In April 2018, Vision Engineering, showcased its novel TVM Field of View (FOV) video measurement system at the Control International Trade Fair. The newly-launched system brings together time-saving instant field of view measurements and versatile measurement tools in a bid to cater to the growing needs of the shop floor operators.
Hexagon
Established in 1975, & headquartered in Stockholm Sweden, Hexagon AB is a worldwide technology group that operates via two segments, Geospatial Enterprise Solutions (GIS) and Industrial Enterprise Solutions (IES).
Carl Zeiss (Germany)
Founded in 1846, & headquartered in Oberkochen, with additional locations worldwide, the company operates as a subsidiary of Carl Zeiss Stiftung AG. Carl Zeiss AG manufactures, develops, produces, & distributes various optical systems & optoelectronics products.
FARO Technologies Inc.
Founded in 1982 & headquartered in Florida, US, FARO Technologies holds expertise in the production of portable measurement solutions. FARO Technologies operates as a 3D measurement, imaging & realization technology company, and develops and markets computer-aided measurement and imaging software & devices.
Mitutoyo Corporation
Established in 1934 and headquartered in Kawasaki-shi, Japan, Mitutoyo Corporation provides precision measuring instruments across Japan and beyond. Mitutoyo Corporation has locations in Japan, North America, Europe, Asia, and Latin America. The product offerings of this company include micrometers, micrometer heads, calipers, height & depth measuring tools, vision measuring systems, calibration equipment, coordinate measuring machines, and hardness testing machines, among others.
Nikon Corporation
Founded in 1917 and headquartered in Tokyo, Japan, Nikon Corporation manufactures and sells a wide range of optical instruments across Japan and internationally. Nikon Corporation operates in three segments: Precision Equipment Business, Imaging Products Business, & Healthcare Business.
Video Measuring System Market Dynamics
Upward Demand for Highly Efficient, Reliable & Precise Measurement Technology Favoring Market Growth
Numerous benefits of video measurement technology over conventional measurement approaches coupled with the burgeoning need for highly efficient, consistent, and precise measurement machinery are creating lucrative growth opportunities for stakeholders. The accelerating adoption of computer numerical control (CNC)-based non-contact measurement techniques in various industries is also driving the deployment of video measurement technology. With producers increasingly seeking better maintenance of the overall quality of manufactured products, the demand for quality machine parts is likely to grow further in the near future. These factors are anticipated to fuel the growth of video measuring market in the forthcoming years.
Surging Deployment in Medical & Automotive Applications Sustain Growth
Rising popularity of video measuring systems for wide applications, including rapid prototyping, part verification, machine alignment, first article inspection, and reverse engineering, in the medical sector has been favoring market growth. Medical devices’ manufacturers are increasingly adopting precision engineering practices to manufacture higher accuracy and better reliability products. Furthermore, video measuring systems are also witnessing increased adoption in automobile manufacturing process as they improve the measurement accuracy & overall performance of the vehicles. Automakers are increasingly adopting video measuring systems for object verification, high-precision dimensional measurement, & geometrical tolerances. Also, a video measuring system provides fast, accurate, and highly flexible non-contact dimensional measurements. The growing penetration of video measurement technology in the medical devices and automotive sectors is underpinning gains in the video measuring system market.
Video Measuring System Market – Segmentation
Based on application, the video measuring system market is segmented into:
- Automotive
- Medical Devices
- Aerospace & Defense
- Heavy Machinery Industry
- Energy & Power
- Electronics
- Others
Based on product type, the video measuring system market is segmented into:
- Manual
- Semi-automated
- Automated/CNC
Based on offering, the video measuring system market is segmented into:
- Hardware
- Software
- Services
The study presents a granular assessment and quantitative evaluation of:
- Key growth factors and prominent trends
- Size and share of key segments in overall market
- Key challenges and winning imperatives
- Factors shaping competitive landscape
- Insights into how contours of market will change in coming years
- Technological advances
- New avenues and imminent investment pockets
- Regulatory landscape shaping current and future strategies of companies
The region-wise assessment includes market dynamics in:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
- Which key factors will shape the competitive landscape?
- Which trends will stimulate research and development activities in different geographies?
- Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
- Which disruptions in market growth are likely to come with the new business models?
- Which are some of the recent overhauls in policies that may change the course of the market significantly?
- Which are the geographies that will form sizable sources of new streams to new and established players alike?
- How are top players likely to realign their strategy to counter the forces of competition?
- Which key strategies emerging players are likely to focus on to consolidate their position?
- Which changes in end-user preferences might affect the status quo held by the leading players?
- Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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