3d Metrology Market

The global 3d Metrology Market was valued at USD 10.2 Billion in 2022 and is projected to reach a value of USD 19.1 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 9.4% between 2023 and 2030.

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The scientific study of physical measuring is known as 3d Metrology. Nonetheless, it is frequently referred to as the broad field of precise measurement in industry. Applying 3d Metrology is fundamentally the very precise acquisition of an object's geometrical data in three axes. Due to various driving forces, the 3d Metrology market is expected to grow at a significant CAGR during the forecast period. The fundamental factor driving the expansion of the 3d Metrology market is the increasing usage of 3d Metrology equipment by various industries, including heavy machinery, aerospace, automotive, construction and engineering, and energy and power. Also, industry 4.0 deployment and increased R&D spending by producers of metrology equipment are anticipated to impact market growth.

Also, many sectors are concentrating on the quality of the goods produced through accurate measurement employing cutting-edge 3d Metrology techniques and tools. High-precision measurement technologies are beneficial for almost all industrial applications. The metrology technology also helps to cut costs associated with product development and the overall time needed for product launches. To perform 3D digital measurement and inspection operations, 3D CAD data is used. As a result, the rising demand for quality inspection is anticipated to contribute to the market's growth over the forecast period. R&D and developments in 3d Metrology have been considered throughout time. The market's expansion depends heavily on technological research and development. Recent years have seen several improvements in engine technology due to consumer preferences for safety, strict government requirements, and scientific developments. The major players in the 3d Metrology market are working to boost engine design R&D to improve engine performance, combustion efficiency, and pollution reduction.

The market for 3d Metrology is growing as cloud computing services are widely adopted. Every company strives to increase profit margins while reducing operating costs. Large capital expenditures for the purchase of servers and virtual hard drives are avoided with cloud storage. Due to the increasing demands for speed, precision, security, and elasticity, manufacturing metrology, typically utilized in quality control, is quickly reaching its limits. Thus, cutting-edge manufacturing technologies like data-driven cloud computing services are highly preferred to overcome specific constraints and satisfy current needs. As a result, the expansion of the 3d Metrology market will be fuelled by the increased adoption of cloud computing services. The spike in demand for improved productivity by electronics manufacturing companies also boosts the total market growth.

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The ongoing war between Russia and Ukraine is expected to become more severe throughout the time under consideration, which will likely hurt the state of the economy. The massive and momentous shocks that Russia's attack against Ukraine has caused are likely to have a chilling effect on the global economy's expansion rate. According to the annual World Economic League Table, produced by a company based in the United Kingdom, the global economy will hit $100 trillion in 2022. Officials are likely to continue battling over price rises, it is predicted that this economic development will come to a standstill in the year 2023.

Top Market Trends

1. Industry 4.0: The development of the services segment in the market for 3d Metrology is significantly influenced by the adoption of Industry 4.0. Industry 4.0 emphasizes digitizing physical assets and integrating them into digital ecosystems with various value chain participants. The market's expansion has also been fueled by significant advancements in portable metrology equipment and software-driven process automation. The increased demand for luxury products brought on by rising disposable income in developing economies and those with low GDP is anticipated to drive the need for businesses to use 3d Metrology systems.

2. Rising Demand for Quality Control and Inspection Applications: Modern manufacturing facilities produce billions of finished goods weekly. In the automotive industry, the bulk of parts is made with hardly any human involvement. A unique part is created on an assembly line for a precise measurement with predetermined tolerance and restrictions. Frictional losses cause modern, complex technology to lose accuracy. There might not be much of a change. Yet, when machines are in charge of generating dimension-sensitive parts for the aerospace and automobile industries, small alterations in measurement can result in significant discrepancies. It enables more accurate production of necessary components by car makers. Also, this system offers a very standard measurement system that specifies the necessary tolerances and limits.

3. APAC to Emerge as an Up-and-Coming Region in Terms of Revenue: The attention of major industrial players, centering on Europe in the 20th century, for setting up their manufacturing units has shifted towards Asia Pacific countries over the past two decades. It results from the numerous techniques used by the important players and governing bodies of developing nations like India, China, Japan, South Korea, Singapore, and others. Advanced industrial metrology quality control and measuring techniques are required due to the expanding presence of the manufacturing and automotive industries in Asia Pacific. Compared to traditional methods, measuring height, depth, breadth, and length takes much less time. Due to their many advantages, the market is seeing a rise in 3d Metrology techniques.

Market Segmentation

The global 3d Metrology market can be categorized on the following: Product, Application, End User, and Region. Based on Product, the market can be categorized into Coordinate Measuring Machine (CMM), Optical Digitizer & Scanner (ODS), Automated Optical Inspection, Video Measuring Machine (VMM), And Other Products. Additionally, by Application, the market can be segmented across Quality Control & Inspection, Reverse Engineering, Virtual Simulation, and Other Applications. Furthermore, by End User, the market can be split between Electronics, Architecture & Construction, Aerospace & Defense, Industrial, Automotive, and Other End Users. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Product

Optical Digitizer and Scanner to Account for the Largest Market Share Owing to Rising Applicable List

The global optical digitizer and scanner segment will occupy the largest market share during the forecast period. Surface analysis, gas turbine blade inspection, automobile component inspection, automotive design and styling, powertrain components, pilot plant metrology, and aviation component inspection are just a few of the metrology service applications that use optical digitizers and scanners (ODS). Laser scanners for inspection and various technical uses can capture the whole geometry of the component. High precision, increased speed, and real-time operation are all features of these scanners. Super-high-speed metrology hardware and software are increasingly used in various industries, including healthcare, building information modeling (BIM), automotive, aerospace, archaeological, architectural study, and restoration. This has a positive impact on the manufacturing process. Coordinate measuring machines will grow with the fastest growing CAGR during the forecast period because of the growing usage of advanced measuring technology, which will continue throughout the projection period because of the growing use of advanced quality control methods in the manufacturing and automotive industries.

Based on Application

Quality Control and Inspection to Occupy the Largest Market Share Owing to Rising Need for Precise Products

The quality control and inspection segment is expected to dominate the largest market share during the 3d Metrology market forecast period. Due to the desire for more exact final products, quality control, and inspection services are increasingly in demand in the manufacturing and automotive industries. Any object or task a physical instrument cannot adequately reach is easily compatible with 3d Metrology. Items, like coordinate measuring machines, are frequently used in the automotive, aerospace, and defense industries for quality control and inspection. The use of virtual simulation technology will grow with the fastest-growing CAGR due to the growing use of wireless connection devices.

Based on the End User

Automotive to Dominate Largest Market Share Owing to Rising Need for Quality Control During Production

During the forecast period, the automotive segment is expected to recoup the maximum revenue for the global 3d Metrology market. The market is being driven globally by the choice of numerous automakers to use coordinate measuring devices for quality control and inspection in the plant. Over the next ten years, the demand for 3d Metrology solutions is expected to increase due to the rise in premium vehicle and fuel-efficient transportation demand, particularly in emerging nations. The industry is expected to grow with the fastest-growing CAGR during the forecast period. It enables a high degree of precision in dental applications, prosthetics, implants, and key medical device assemblies like X-ray and CT scanners that need to access difficult-to-reach areas. Hence, these industries are anticipated to grow in importance over the coming years while upholding strict international quality standards.

Based on Region

North America to Dominate Global Sales Owing to a Strong Presence in the Aerospace & Automotive Sector

The global 3d Metrology market is expected to be dominated by the region of North America during the forecast period. The region is primarily supported by the U.S.'s significant aerospace, automobile, and pharmaceutical equipment industries. One of the key drivers of the demand for inline dimensional metrology solutions is the rapid automation of automotive manufacturing plants. Several auto and body-in-white (BIW) manufacturers may switch from conventional measurements like CMMs to inline metrology methods. Faster automation of automotive production facilities also creates a sizable demand in the market. Also, the robust manufacturing industry in the area's high demand for metrological technologies justifies the size of the 3d Metrology market.

The Asia Pacific region is expected to grow with the fastest-growing CAGR during the forecast period. The majority of industrial goods are mostly manufactured in the Asia-Pacific area. China is the global leader in producing industrial goods such as steel, chemicals, iron, consumer goods, transportation, food processing, and equipment. To inspect power generation components and other industrial and power generation applications like forging inspection, raw casting, die, and mold design, 3d Metrology is used.

Competitive Landscape

The main important businesses are establishing their production facilities in diverse nations where labor and production costs are lower than elsewhere. The 3d Metrology market will expand due to this. Large players also concentrate on new product launches, acquisitions, and collaborations with various small and medium-sized businesses to increase their regional footprint.

The key players in the global 3d Metrology market include - 3D Digital Corporation (U.S.), 3D Systems Corporation (U.S.), Applied Materials Inc. (U.S.), Automated Precision Inc. (U.S.), Carl Zeiss AG (Germany), Creaform Inc. (Canada), FARO Technologies Inc. (U.S.), Keyence Corporation (Japan), Nikon Metrology NV (U.S.), Perceptron Inc. (U.S.) among others.

Recent Market Developments

· April 2022: A new end-to-end 3D digital reality capture and collaboration platform has been released by FARO Technologies, Inc., a provider of 4D digital reality solutions. This platform uses modern tools like cloud computing and artificial intelligence to evaluate and store measurement data.

· June 2022: ZEISS International and Shree Rapid Technologies collaborated to commercialize and advance machine measuring and scanning technology in India. Through this relationship, contactless measurement technology will advance in India.

· May 2021: The United States partner for GOM 3D non-contact measuring solutions, Capture 3D, was acquired by ZEISS International. Customers of ZEISS International will benefit from a seamlessly integrated experience to receive the best measuring solutions for their particular requirements as a result of this purchase worldwide. Also, ZEISS International increased its commercial base in the United States by adopting this strategic approach.

Segmentation of the Global 3d Metrology Market