Optical Metrology Market Share, Strategies, Emerging Technologies, Growth Rate Analysis, Trends and Forecast
The optical metrology market is expected to reach $2,945.3 million by 2023. Buoyed by growing need for precise measuring tools and equipment for inspection in semiconductor industry, rise in demand for inspection of cracks and defects in underground pipes in the oil & gas industry, and increasing applications of optical metrology in manufacturing and healthcare industries.
On the basis of product, the optical metrology market is segmented into optical/laser scanners, video measuring machines, and laser micrometery. The optical/laser scanners product category held the largest share of over 70% in 2017. In terms of adoption, optical/laser scanners are largely being preferred over the traditional Coordinate Measuring Machines (CMMs), predominately due to higher speed, comparable accuracy, portability, and scalability.
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Based on industry, the market is segmented into automotive, consumer electronics, medical, aerospace and defense, and others, wherein ‘others’ include energy and utility, education, oil and gas, food and beverage, and construction. Of these, automotive industry held the highest share in the market accounting for nearly 39% share in 2017.
APAC is expected to witness fastest CAGR during the forecast period, with China anticipated to lead the pack during the same period. The growth can be attributed to rising demand for optical metrology equipment for surface inspection, and measurement of automotive parts, supported by increasing production of vehicles in China, and government initiatives for the launch of electric vehicles in the country.
Companies like Hexagon Manufacturing Intelligence, and Faro Technologies Inc. were the major companies involved in the launch of new products. For instance, Hexagon Manufacturing Intelligence launched GLOBAL Advantage High Throughput and Accuracy (HTA), a metrology solution for the aerospace industry, based on Hexagon’s advanced HP-O Multi optical scanning probe technology for high-speed non-contact measurement of aero- and land-based compressor blades in shop-floor environments.
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Some of the players operating in the market include Nikon Metrology NV, Nanometrics Incorporated, Perceptron Inc., Nova Measuring Instruments Ltd., Quality Vision International Inc., Carl Zeiss Optotechnik GmbH, S-T Industries Inc., Hexagon Manufacturing Intelligence, Micro-Vu, KLA-Tencor Corporation, Creaform Inc., GOM GmbH, and Mitutoyo Corporation.
Global Optical Metrology Market Segmentation
Market Segmentation by Product
· Video measuring machines (VMM)
· Optical/Laser scanners
· Laser Micrometry
Market Segmentation by Application
· Distance Measurement
· Surface Inspection
· Form Measurement
Market Segmentation by Industry
· Automotive
· Consumer Electronics
· Medical
· Aerospace and Defense
· Others (include oil and gas, energy and utility, education, food and beverage, construction)
