- 3D metrology market for services to grow at highest rate from 2018 to 2024
- CMM continues to hold largest market share in 3D metrology market during forecast period
- 3D metrology market quality control applications to grow at highest rate from 2018 to 2024
The 3D metrology (physical measurements) market was valued at $9.5 billion in 2018 and is expected to reach $16.2 billion by 2024, at a CAGR of 9.3% from 2018 to 2024. The major driving factors for the 3D metrology market are the highly accurate inspection due to 3D data for modeling and analysis, focus on quality control, and increase in R&D spending.
However, lack of expertise to efficiently handle 3D metrology systems and high costs incurred for setting up a 3D metrology facility are expected to limit the growth of this market.
Increasing adoption of 3D metrology equipment in industries such as aerospace & defense, automotive, architecture and construction, medical, electronics, energy & power, and heavy machinery to maintain product quality is the major driver for the growth of the hardware market. Also, the growing market for CMM drives the growth of hardware offering in the 3D metrology market. CMM is required in the automotive industry for inspection, measurement, and quality checking of various components.
High precision and accuracy in measurement can be achieved by a CMM. Increased flexibility, reduced set-up time, improved accuracy, and enhanced productivity are the major advantages of a CMM over conventional gauging methods.
Automotive and aerospace & defense are the major industries where 3D metrology is used for quality control and inspection. 3D metrology is mainly used in the automotive industry for automotive component inspection, power train components, and full body inspection, as well as for checking accuracy and precision of all areas in a vehicle plant.
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3D metrology is required in the automotive industry for inspection, measurement, and quality checking of various components. The automotive industry is increasingly using optical measurement systems and CMMs instead of conventional strain gauges, accelerometers, transducers, and extensometers for improving the safety and comfort level of a vehicle.
APAC continues to grow at a high rate, which can be attributed to the high economic growth witnessed by major countries such as China and Japan in this region. The key countries contributing to the growth of the 3D metrology market in APAC include Japan, China, India, and South Korea. Remaining countries contributing to the market are considered in the Rest of APAC; these countries are Australia, New Zealand, Taiwan, Singapore, Indonesia, and the Philippines. Automobile and electronics manufacturers use 3D metrology systems during the production process for quality inspections; as the number of automobile manufacturing plants is more in APAC than other regions, the demand for 3D metrology offerings is expected to grow rapidly in this region.
Key Market Players
The major players in the 3D metrology market include Hexagon AB (Sweden), Carl Zeiss AG (Germany), FARO Technologies (US), Mitutoyo Corporation (Japan) Nikon Corporation (Japan), KLA-Tencor (US), Jenoptik (Germany), Keyence (Japan), Perceptron (US), Creaform (Canada), GoM (Germany), Automated Precision (US), 3D Digital Corp (US), 3D System Corp (US), and Applied Materials (US).