| A11620 | Pages: 246 | Nov 2021 | 2050 Views | ||
| Author(s) : N N Kundan, Ruchal Humbare , Vineet Kumar | Tables: 127 | Charts: 69 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the 3d Metrology Market
Request Now !The global 3D metrology market size was valued at $8.77 billion in 2020, and is projected to reach $19.61 billion by 2030, registering a CAGR of 9.2% from 2021 to 2030. 3D metrology is a new 3D scanning and modeling solution for engineering and production. It has been developed to help engineers and designers for the process of capturing high-quality data of their products easily with no manual work involved. With the power of cloud computing, it provides one of the fastest measurement speeds in the industry.
The architecture & construction segment has been negatively impacted by the COVID-19 pandemic outbreak.
Growth of the global 3D metrology market is anticipated to be driven by factors such as growth in the automotive industry across the globe and focus on quality control while manufacturing goods. In addition, surge in demand for higher productivity by electronics manufacturing companies boosts the overall market growth. However, lack of simplified software solutions acts as a major restraint for the global industry. On the contrary, surge in demand for industry 4.0 and significant growth in the aviation industry is expected to create lucrative opportunities for the 3D metrology industry.
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The global 3D metrology market is segmented on the basis of product, application, end user, and region. By product, the market is classified into coordinate measuring machine, optical digitizer & scanner, automated optical inspection, video measuring machine, and others. Depending on application, it is categorized into quality control & inspection, reverse engineering, virtual simulation, and others. On the basis of end user, the market is classified into electronics, architecture & construction, aerospace & defense, industrial, automotive, and others.
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Region wise, the 3D metrology market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America dominated the 3D metrology market in 2020, and is projected to register significant growth rate during the forecast period, owing to growth of the automotive sector. However, Asia-Pacific is expected to witnesses significant growth by the end of the forecast period, followed by LAMEA.
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Leading 3D metrology market manufacturers such as Applied Materials Inc., Carl Zeiss AG, and Keyence Corporation are focusing on their investments on technologically advanced, cost-effective, and more secure products and solutions for various applications.
Prominent factors that impact the 3D metrology market growth are surge in R&D spending on 3D metrology and rise in demand for quality control and inspection application. In addition, high demand from Asia-Pacific drives the 3D metrology market. However, high initial investments for setting up 3D metrology facility restricts the market growth. On the contrary, growth in adoption of cloud computing services is expected to create lucrative opportunities for the market.
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Competitive Analysis
Competitive analysis and profiles of the major market players such as 3D Digital Corporation, 3D Systems Corporation, Applied Materials Inc., Automated Precision Inc., Carl Zeiss AG, Creaform Inc., FARO Technologies Inc., Keyence Corporation, Nikon Metrology NV, and Perceptron Inc. have been covered in the report. These key players have adopted various strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to increase their market penetration and strengthen their foothold in the industry.
The outbreak of COVID-19 has significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are expected to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers.
The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market and is resulting in falling business confidence, massive slowing of supply chain, and increasing panic among customers.
Asian and European countries under lockdowns have suffered major loss of business and revenue, owing to shutdown of manufacturing units. Operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted growth of the 3D metrology market.
In addition, the COVID-19 pandemic has impacted the electronics sector as production facilities have stalled, which, in turn, boost demand for electronics and semiconductor products in these industries. Its major impact includes a large manufacturing interruption across Europe and interruption in Chinese parts exports, which hinder the market.
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Key Benefits For Stakeholders
3D Metrology Market Key Segments
By Product
By Application
By End User
By Region
Key Market Players
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The global 3D metrology market is flourishing at a rapid pace. However, high initial investments for setting up 3D metrology facility is still a concern for new entrants. Market players are generously investing in R&D activities to develop improved components to reduce overall costs of 3D metrology facilities. In addition, according to industry experts, it is essential to optimize affordable prices for 3D metrology products for long-term growth.
Growth of the global 3D metrology market is anticipated to be driven by factors such as growing automotive industry across the globe and focus on quality control while manufacturing goods. In addition, surge in demand for higher productivity by electronics manufacturing companies boosts the overall market growth. However, lack of simplified software solutions acts as a major restraint for the global 3D metrology industry. On the contrary, surge in demand for industry 4.0 and significant growth in the aviation industry is expected to create lucrative opportunities for the 3D metrology industry.
Key players of the market focus on introducing technologically advanced products to remain competitive in the market. Acquisitions, collaborations, mergers, and product launches are expected to be the prominent strategies adopted by the market players. North America accounted for a major share of the market in 2020, owing to the presence of major players in the region; However, Asia-Pacific is expected to grow at the highest CAGR, owing to rise in adoption of 3D metrology in a variety of fields.
A. The 3D Metrology Market is estimated to grow at a CAGR of 9.2% from 2021 to 2030.
A. The 3D Metrology Market is projected to reach $19.61 billion by 2030.
A. To get the latest version of sample report
A. Growth in the automotive industry across the globe and focus on quality control while manufacturing goods etc. boost the 3D Metrology market growth.
A. The key players profiled in the report include 3D Digital Corporation, 3D Systems Corporation, Applied Materials Inc., and many more.
A. On the basis of top growing big corporations, we select top 10 players.
A. The 3D Metrology Market is segmented on the basis of product, application, end user, and region.
A. The key growth strategies of 3D Metrology market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
A. Asia-Pacific region would grow at a highest CAGR of 10.5% during the forecast period.
A. Coordinate Measuring Machine [CMM] segment will dominate the market during 2021 - 2030.
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