NEWARK, Del, May 04, 2023 (GLOBE NEWSWIRE) -- The 3D metrology market is predicted to be worth US$ 10.85 billion in 2023 and rise to US$ 24.53 billion by 2033. The global industry was expanding at a CAGR of 8.5% from 2023 to 2033. Many companies are focusing on developing distinctive handheld scanners that are integrated with complementary software to overcome capital constraints. The demand for 3D metrology is expected to increase further due to large public and private investments in additive manufacturing for the development of the aviation sector.
With a 3D measuring scanner, engineers and designers can easily gather high-quality data about their goods, vanishing the need for manual labor. The engineering sector's high demand for metrology scanners indicates a positive growth rate for the global market.
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Profitable Market Opportunity
The development of the application base of universal systems to encompass several functional aspects is limited by the necessity for specialized metrology solutions. As a result, the end-user is forced to pick from a variety of service providers to display a single chain of production processes. Yet, it can increase the associated prices and force customers to acquire their metrology products, contributing to the overall demand.
Key Takeaways
- By 2033, France is expected to dominate the 3D metrology market in Europe.
- The 3D metrology market was significantly expanding, with a size of US$ 10 billion in 2022.
- The market is anticipated to expand at a valuation of US$ 13.86 billion by 2026, as a result of rising applications in end-use industries.
- Due to the market's excellent potential and cutting-edge technologies like virtual simulation in manufacturing procedures, analysts expect it is likely to rise 1.08 times between 2022 and 2023.
- Germany is likely to expand significantly in the 3D metrology market, with a CAGR of 7.1% by 2033.
- By 2033, the United States is anticipated to dominate the North America region with a 6.2% CAGR.
- Based on components, the hardware segment dominated the market with a 50% share in 2022 and continued to lead the market during the forecast period.
- Based on application, quality control, and inspection led the market share in 2022, and continues to lead the market during the forecast period.
Critical Approaches Increasing Top Players' Wealth
The 3D metrology approach reduces the cost of product development, as well as the overall time needed for new releases. Long-term expenses for significant players have dropped as a result. Some top organizations are using a range of business strategies, such as partnerships, acquisitions, and business development, to broaden the market in the country.
Top key players in the 3D metrology industry are Zeiss International, FARO Technologies, Inc, Hexagon AB, Intertek Group Plc, Nikon Corporation, KLA Corporation, Keyence Corporation, Perceptron, Inc., Renishaw Plc, Applied Materials, and others.
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Recent Developments
- Hexagon AB purchased Thermopylae Sciences + Technologies in February 2019; the company specialized in geospatial solutions to improve location intelligence. The purchase was made to accelerate the adoption of a 5D visualization application by the American government and defense sector.
- The introduction of FARO Technologies, Inc., a developer of 4D digital reality solutions’ new end-to-end 3D digital reality capture & collaboration platform, is scheduled for April 2022. This platform analyses and stores measurement data using contemporary methods like cloud computing and artificial intelligence.
Key Segments
3D Metrology by Component:
- Hardware
- Software
- Services
3D Metrology by Application:
- Quality Control & Inspection
- Virtual Simulation
- Reverse Engineering
- 3D Scanning
3D Metrology by End Use:
- A&D
- Automotive
- Construction & Engineering
- Medical
- Heavy Machinery
3D Metrology by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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Table of Content
1. Executive Summary | 3D Metrology Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 (TOC Continue...)
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