Global Optical Measurement Market was valued at US$ 4.0Bn in 2019 and is expected to reach US$ 8.0Bn by 2026 at a CAGR of 9.05%.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
An optical measurement system is a type of measuring device that is used for measuring the physical properties of a number of products. Optical measurement is a non-contact measuring solution that is used for inspection and process control purposes. It involves the measurement of passing light and optical beams in different angles above the product and then these lights get reflected by the optical sensors.
The development of application industries is the key factor driving demand of the optical measuring market in upcoming years. The optical measuring system is required for improving accuracy in measuring of physical properties of a product. Emerging business models like collaboration and partnership amid the market players present in the application universe and new product development with improved operational efficiency in a cost-effective manner are inferred as one of the driving factors for the acceptance of an optical measurement system. Though, high operation and investment costs and usage of fragile components are two major restraints expected to negatively impact future demand and adoption barriers for the optical measuring market.
The automotive segment is dominating the optical measurement market. The automotive industry has been progressively using optical measurement solutions for improving safety and comfort levels in vehicles. These factors have contributed to the increased adoption of optical measurement in the automotive vertical. So, in 2017, the automotive vertical has the largest market for optical measurement.
A Video measuring machine (VMM) is expected to grow at the highest rate during the forecast period. VMM is an emerging measurement solution between industries as it enables manufacturers to monitor the efficiency and quality of components required to build desired industrial products. This system has gained marvelous popularity in recent years as of its features such as improved speed, greater accuracy, and the availability of customization based on application.
Region-wise, the Asia Pacific is expected to be the fastest-growing region during the forecast period. The wide-scale adoption of optical measurement technologies for industrial applications is the key factor supporting the growth of the market in the APAC region. The increasing adoption of precision measurement advanced technology by manufacturers with a focus on accuracy and reliability of the manufactured products is further expected to boost the growth of the optical measurement market in APAC.
Global optical measurement market report includes PESTLE analysis, competitive landscape, and Porter’s five force model. Market attractive analysis wherein all the segments are benchmarked based on the market size, growth rate, and general attractiveness.
The key market players operating in the global optical measurement market are, Nikon Instruments Inc., Hexagon Metrology Inc., GOM mbH, Mitutoyo Corporation, FARO Technologies, KLA-Tencor Corporation, Quality Vision International Pvt. Ltd., Nova Measuring Instruments Ltd., Steinbichler, Optotechnik GmbH, Nanometrics Incorporated, Breuckmann GmbH, Perceptron Inc., ST Industries Inc., Creaform, and Micro-Vu Corp, Third Dimension, Zygo, Vision Engineering Ltd, Carl Zeiss Meditec AG.
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Scope of the Global Optical Measurement Market
Global Optical Measurement Market, by Equipment
• Measuring Microscope
• Profile Projector
Global Optical Measurement Market, by Offering
Global Optical Measurement Market, by Vertical
Global Optical Measurement Market, by Region
• North America
• Middle East and Africa
• South America
Key Players Operating in the Global Optical Measurement Market
• Nikon Instruments Inc.
• Hexagon Metrology Inc.
• GOM mbH
• Mitutoyo Corporation
• FARO Technologies
• KLA-Tencor Corporation
• Quality Vision International Pvt. Ltd.
• Nova Measuring Instruments Ltd.
• Steinbichler Optotechnik GmbH
• Nanometrics Incorporated
• Breuckmann GmbH
• Perceptron Inc.
• ST Industries Inc.
• Creaform, and Micro-Vu Corp
• Third Dimension
• Vision Engineering Ltd
• Carl Zeiss Meditec AG
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