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 – Snapshot
Video measurement applications are gaining popularity in different industries such as automotive industries, medical, and aerospace, and defense. This growing demand for the video measuring system market further boosts growth in the video measurement system market.
A video measuring system is a machine that is used to magnify the image of any part. After the magnification process, this system transforms the image into a video signal. Further software and electronics are used to analyze the video signal. This entire procedure is crucial for the determination of features and edges of the targeted object. There is a rise in the requirement of high-resolution imaging instead of large volumes and areas that too without any physical contact with the targeted part. This growing need for high-resolution imaging bolsters growth in the video measuring system.
There are innumerable advantages of video measurement technology that are bolstering demand in the video measuring system market. These benefits of modern technology over the traditional video measuring approach boost growth in the video measuring system market. Some of the prominent factors that encourage demand in the video measuring system market include the growing need for precise, consistent, and highly efficient measurement machinery. This rising need is creating lucrative opportunities for industry players in the video measuring system market.
Consumers are also adopting computer numerical control (CNC) system that helps video measuring system market to grow. This system is based on non-contact measurement methods and is deployed in various industries. This increasing demand for the system adds valuation in the video measuring system market.
There is an increased demand for quality products in the video measuring system market because of better maintenance services. These factors cumulatively are expected to create avenues in the video-measuring system market.
The video measuring system has various applications such as reverse engineering, first article inspection, and machine alignment. These techniques from the video measuring system market are also applied in part verification and rapid prototyping. Such a wide range of applications is expected to bolster growth in the video measuring system market.
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
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