OVERVIEW
Research by Global Market Studies has reported a CAGR of 8.2% for the 3D Metrology Market, expecting it to expand to a value of USD 23.1 billion by 2028.
The market for tools and software used to gauge the three-dimensional geometry of objects is referred to as the 3D metrology market. Coordinating Measuring Machines (CMMs), Optical Scanners, Laser Trackers, Portable Measurement arms, and Data Analysis and Visualization Software are all part of this sector.
Due to the rising demand for precise and accurate measurements in sectors like aerospace, automotive, and manufacturing, the quality control and inspection application segment is predicted to hold the greatest share of the 3D metrology market, and the ODS market is anticipated to experience significant expansion for its capacity to record precise and thorough measurements of intricate shapes and surfaces using optical digitizers and scanners.
Table of Content
Market Dynamics
Drivers:
The manufacturing sector’s growing need for precise measurements and quality control is what is driving the demand for 3D metrology equipment. These tools are employed to check that goods conform to requirements and spot flaws or faults.
The market for 3D metrology is also expanding as a result of the creation of new technologies such as portable CMMs, laser trackers, and optical scanners. Compared to conventional measuring instruments, these ones offer improved precision, quicker measurement times, and easier usage.
The market is poised for tremendous development and innovation as a result of the integration of 3D metrology devices with Industry 4.0 technologies, including automation, artificial intelligence, and machine learning. While precise measurements are necessary to generate high-quality products, the increased use of 3D printing and additive manufacturing is boosting demand for 3D metrology devices.
Opportunities:
The healthcare sector is adopting 3D metrology devices more frequently for tasks including the production of medical devices, the design of orthopedic implants, and surgical planning. The demand for portable and handheld devices is rising as more people realize how flexible and user-friendly these devices are compared to more conventional fixed devices.
The use of cloud-based software for data analysis and visualization is also expanding steadily, giving software companies the chance to present their clients with fresh, cutting-edge solutions.
Restraints:
For certain clients, the high cost of 3D metrology equipment, especially high-end equipment like laser trackers and portable CMMs, can be a deterrent to adoption, and 3D metrology equipment also requires specific knowledge and training that may make it difficult for some firms to hire or keep qualified staff.
It can be difficult to integrate 3D metrology devices with current systems and processes, especially for legacy systems that might not be compatible with contemporary 3D metrology equipment. Without the proper software and IT infrastructure, 3D metrology equipment produces a lot of data that can be challenging to manage and interpret.
Moreover, companies utilizing 3D metrology equipment may find it difficult to comply with rules in various sectors, including aircraft and the healthcare industry. The manufacture and disposal of 3D metrology equipment may have a negative influence on the environment as well, especially given the use of electronics and plastics.
Regional Information:
North America:is considered a mature market for 3D metrology with its high rate of advanced technology adoption in a variety of industries, including aerospace, automotive and healthcare. The area is home to numerous major players in the 3D metrology industry, and the market is expanding as a result of the rising need for quality control and inspection in sectors like manufacturing and healthcare.
Europe: is a developed market for 3D metrology owing to high adoption rates in sectors including aerospace, automotive, and industrial. Numerous significant market participants are based in the area, and the market is expanding as a result of the rising demand for high-precision measurements and quality control across multiple industries.
Asia-Pacific: The region is predicted to have considerable growth in the 3D metrology market due to rising demand from nations like China and India, which are important industrial centers. The need for 3D metrology equipment is being driven by the expansion of the healthcare and construction sectors in the region.
Recent Developments:
• In April 2022, Faro Technologies, a leading provider of 4D digital reality solutions, introduced FARO Sphere, a highly effective platform for data capture and collaboration that includes the industry’s quickest, most accurate, and most data-sharing-capable scanner.
• In February 2022, Hexagon purchased ETQ, expanding its software offering with a SaaS-based QMS platform. ETQ will allow for the integration of quality data and supply chains, integrating suppliers and clients into a single platform.
Key Players:
FARO, Metrological Media Innovations B.V., Hexagon, Automated Precision Inc. (API), Nikon Corporation, InnovMetric Software Inc., KLA Corporation, Artec Europe., Carl Zeiss AG, Shining3D, Intertek Group plc, KEYENCE Corporation, Renishaw plc., and Jenoptik AG
Frequently Asked Questions
1) What is the projected market value of the 3D Metrology Market?
– The 3D Metrology Market is expected to reach a value of USD 23.1 billion by 2028
2) What is the estimated CAGR of the 3D Metrology Market over the 2023–2028 forecast period?
– The 3D Metrology Market is expected to grow at a CAGR of approximately 8.2% from 2023 to 2028.
3) Who are the key players in the 3D Metrology Market?
– FARO, Metrological Media Innovations B.V., Hexagon, Automated Precision Inc. (API), Nikon Corporation, InnovMetric Software Inc., KLA Corporation, Artec Europe., Carl Zeiss AG, Shining3D, Intertek Group plc, KEYENCE Corporation, Renishaw plc., and Jenoptik AG
4) What are the drivers for the 3D Metrology Market?
– Increasing need for 3D metrology equipment, technological advancements, growing usage of 3D printing, demand in the healthcare sector, expansion into new markets, rise in portable and handheld devices and integration of industry 4.0 technologies are some of the major driving factors
5) What are the restraints and challenges in the 3D Metrology Market?
– High initial costs, lack of qualified staff, integration problems, data management issues, regulatory compliance, and environmental issues are some key hurdles
6) What are the key applications and offerings of the 3D Metrology Market?
– Applications are mainly seen in electric vehicles and other energy-intensive technology
7) Which region is expected to drive the market for the forecast period?
– The Asia Pacific region is expected to drive market growth.
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