3D Metrology Market Overview:
The major growth driver of 3D Metrology Market includes growing quality requirement in industrial product, and increasing use of technically advanced devices for measurement, among others. However, lack of technical expertise is expected to hinder the market growth of 3D metrology in the forecast period 2016-2022.
The accuracy of the technology in the 3D metrology has led the rise in the demand at an incremental pace. Market focused reports connected to the information and communications technology sector among others of late have been made accessible by Market Research Future which publishes reports on this industry. The market is projected to reach USD 7,980 million in revenue by 2022 while expanding with 9 percent CAGR approximately in the forecast period.
As it permits manufacturers to screen the efficiency and quality of the components vital to make the desired industrial products, the demand for the market is surging exponentially. The heightened demand from the end user sectors such as automotive, packaging, aerospace and electronics has been key in expanding the market share over the past few years. Mounting demand from automotive and construction sectors is expected to be among the main drivers for the progress of the market through the forecast period.
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The 3D metrology market can be segmented on the basis of technology comprises of 3D profilometry, confocal microscopy, white light interferometry, scanning probe microscopy, 3D optical microscopy, coherent, and others.
The product based segmentation of the market consists of optical digitizers & scanners (ODS), CMM (coordinate measuring machine), measuring gage and vision measuring machine (VMM). Lastly, on the basis of the end-users segment includes aerospace, precision mechanical, automotive, medical, electronics, packaging, 3d printing and others.
Comprehensive Regional Analysis:
The global 3D Metrology Market is projected to expand at a promising rate in the upcoming years. The European region is the foremost region among the other regions such as North America, Asia-Pacific and Rest of the world.
The Asia Pacific region is the most rapidly expanding region which is projected to demonstrate high growth through the forecast period. Growing adoption of technology and rising demand for quality driven products particularly in manufacturing and automation sectors are driving the progress of 3D Metrology market. While the absence of technical awareness about 3D metrology is expected to be the main reason behind the slow growth in the region.
Global Competitive Analysis:
The businesses in this market are attempting to improve and uphold financial fluidity that can be vital to invest in progress as and when applicable. Localization is among of the more favored trends for growing the market portion of the competitors in the market. The ripple effects of the market’s growth have altered the competitive backdrop of the market. The room for development in the market seems to be promising through the forecast period. The mounting interest in change within the business has ultimately permitted the businesses to apply many situations accessible in the market. The ability to withstand their competitive edge is one of the key factors fuelling their efforts in this period. The market has been led into a new period of growth as the market is normally in a state of mutability.
The odds for growing revenue inflow in the business are likely to multiply through the forecast period. Challengers who are a part of the market have planned their corporate strategy blueprint in a way that that can bring the top outcomes for progress in the current scenario, while also at the same time providing customer value dependably.
Carl Zeiss, Nikon Metrology, Bruker Corporation, Hexagon AB, Keyence Corporation, Mityotoyo Corporation, KLA-Tencor Corporation, Cyber Optics, Olympus Corporation, AMETEK, Wenzel are among some of the major competitors in 3D metrology market globally.
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April 2018 Sandvik is planning to acquire the French software company Metrologic Group from Astorg Partners In line with its strategic agenda at a price of 360 million EUR, with cash and debt free basis. The company which is headquartered in France, the Metrologic Group is a market frontrunner in agnostic metrology software.
In its fiscal year which concluded in September 2017, the Metrologic Group had generated revenues worth 43.3 million EUR with an EBITDA margin. The Metrologic Group would form a different business unit within a new product area in Sandvik Machining Solutions and would uphold brand independence, in line with Sandvik’s decentralized business model. The Metrologic Group management team would be retained with the company.
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