Market Overview
3D Metrology Market will touch USD 15 Billion at a 9% CAGR between the ongoing forecast period. It is a reflection of the latest market developments and industry forecasts. The 3D metrology market includes activities that process the uses of different tools to measure the size and shape of the industrial equipment. The 3D scanners, CT scanners, structured light scanners, portable arm with a scanner, laser tracker, mid-range terrestrial LiDAR are prominently used 3D metrology tools in the market. However, the market is witnessing the rise in advancing technologies. These are incorporated with the tools for precision in the measuring process. The 3D metrology systems are intensively utilized in manufacturing vehicles, medical devices, electronic devices, and other heavy machinery.
A higher degree of precision helps in measuring or inspecting medical devices such as prostheses, implants, dental applications, and others like assemblies in medical machines. Some other market factors are helping to propel the overall growth of the 3D metrology market. Additionally, there are manufacturing activities and industries that excessively adhere to international standards to increase product quality.
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.
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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