Overview and Scope
Optical measurement refers to non-contact, fast, accurate, and reliable. The optical measurement had the ability to significantly reduce the duration of inspection compared to the traditional methods, allowing the manufacturers in several industry verticals to optimize the assembly cost and are used to monitor critical dimensions of manufactured parts in several industries.
Sizing and Forecast
The optical measurement market size has grown strongly in recent years. It will grow from $4.25 billion in 2023 to $4.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to growing demand for 3d metrology services, increasing adoption of advanced optical measurement solutions, increasing r&d spending, growing industrialization, growing demand for quality control in various industries..
The optical measurement market size is expected to see strong growth in the next few years. It will grow to $6.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to continued emphasis on miniaturization in manufacturing, rise in demand for non-contact measurement techniques, expansion of applications in healthcare and life sciences, increasing complexity of manufacturing processes, growing demand for non-contact measurement techniques. Major trends in the forecast period include adoption of industry 4.0 and smart manufacturing, integration of artificial intelligence in optical measurement, increase in the use of hyperspectral imaging for material analysis, emergence of portable and handheld optical measurement devices, technological advancements .
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The optical measurement market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Component: Autocollimators, Measuring Microscopes, Profile Projectors, Optical Digitizers and Scanners, Coordinate Measuring Machines (CMMs), Video Measuring Machines
3) By End-User: Automotive, Aerospace & Defense, Energy and Power, Electronics Manufacturing, Industrial, Medical, Other End Users
North America was the largest region in the optical measurement market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the optical measurement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in aerospace and defense industries are expected to propel the growth of the optical measurement market going forward. Aerospace and defense industries refer to companies that build aircraft, ships, spacecraft, weapon systems, and defense equipment. Optical coatings are largely employed in aerospace and defense machines as precise optics. As a result, the increasing aerospace and defense industries help to increase the demand for the optical measurement market. For instance, in 2021, according to the Indian Brand Equity Foundation, an India-based government agency, India’s defense budget for 2020-21 stood at INR 4,71,378 crore (USD 67.4 billion), which is 9.37% higher than that in 2019-20. Therefore, the increase in aerospace and defense industries is driving the growth of the optical measurement market.
Key Industry Players
Major companies operating in the optical measurement market report are Vision Engineering Limited, Nikon Corporation, Mitutoyo Corporation, Hexagon AB, Faro Business Technologies India Pvt. Ltd., Jenoptik AG, Carl Zeiss AG, GOM & Company, Keysight Technologies Inc., R&D Vision, Ametwk Inc., Olympus Corporation, Quality Vision International Pvt. Ltd., Nova Measuring Instruments Ltd., Steinbichler Optotechnik GmbH, Nanometrics Incorporated, Breuckmann GmbH, Perceptron Inc., ST Industries Inc., Creaform Inc., Third Dimension Private Limited, Keyence Corporation, Accretech Finance Co. Ltd., Zygo Corporation, KLA-Tencor Corporation, Renishaw plc, Alicona Imaging GmbH, Bruker Corporation, CyberOptics Corporation, Avantes BV
The optical measurement market report table of contents includes:
1. Executive Summary
2. Optical Measurement Market Characteristics
3. Optical Measurement Market Trends And Strategies
4. Optical Measurement Market – Macro Economic Scenario
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31. Global Optical Measurement Market Competitive Benchmarking
32. Global Optical Measurement Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Optical Measurement Market
34. Optical Measurement Market Future Outlook and Potential Analysis
