Market Overview
3D metrology uses various tools that can measure the size and shape of industrial equipment. Some metrology tools include CT scanners, structured light scanners, 3D scanners, portable arms with a scanner, laser tracker, and mid-range terrestrial LiDAR. These technologies are integrated with the tools for precision. It is utilized in manufacturing medical devices, electronic devices, vehicles, and other heavy machinery. Due to its wide application, the 3D Metrology Market is showing major growth.
The primary drivers of the 3D Metrology Market are boosting its growth globally. The emerging 4.0 technology is acting as the primary driving factor of the market. This technology involves digitalization and ongoing machine communication. It connects the devices with the Internet of Things. The advancement and implementation of automation are accelerating the market.
The 3D metrology equipment can perform essential industrial procedures like inspection, reverse engineering, product designing, etc. Due to its core advantages, the market is receiving huge growth opportunities.
The COVID 19 pandemic has negatively impacted the Portable 3D Metrology Market. It has largely affected the engineers, product designers, and other processes. But the market has become highly beneficial for the measuring and product development solutions in the manufacturing sectors. Also, its growing demand in the health sector has boosted its market value. It was highly used in medical equipment. It was utilized for making face shields, life-saving masks and mask filters worldwide. These factors have accelerated its growth rate in the pandemic period.
The 3D Metrology Market is estimated to reach a valuation of USD 15 Billion and a healthy CAGR of 9 % by 2030 during the forecast period.
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Market Segmentation
The 3D Metrology Market is segmented into components, products, and applications.
The component segment of the market is categorized into service, software and hardware.
The product segment is segregated into Coordinate Measuring Machine (CMM), Video Measuring Machine (VMM), Optical Digitizer and Scanner (ODS), Automated Optical Inspection and Form Measurement.
The application segment is classified into Reverse Engineering, Quality Control and Inspection, Virtual Simulation and others.
The end-user segment is bifurcated into Aerospace and Defence, Automotive, Electronics, Energy and Power, Heavy Machinery Market, Architecture and Construction, Medical, Mining and Others.
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Regional Analysis
According to the geographical status, the 3D Metrology Market is distributed into regions such as North America, the European region, Asia Pacific and the rest of the world.
The Asia Pacific region shows massive industrial growth, and significant economic condition is accelerating the regional market. China is considered the dominating manufacturing hub for various industrial verticals such as machinery manufacturing, transportation, consumer electronics, food processing, manufacturing of iron, steel, chemicals, designing of molds, raw casting, and so on.
North America region is also showing significant growth due to the presence of automotive, pharmaceutical, and aerospace equipment. The rising adoption of automation in the various sectors and advancements in technologies are contributing the global market growth.
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Industry News
In 2020, FARO technologies announced its next-generation and on-site measurement device. It can measure assemblies, large industrial parts, molds, and machine parts which are challenging and requires an inspection area for acquiring the measurements.
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