Global Optical Metrology Market: Overview
The evolution of the manufacturing industry into a highly competitive arena over the past few years has created an alarming need for precision and accuracy in manufacturing processes. This is boosting the adoption of advanced and efficient instrumentation technologies across various industries. As a result, the global optical metrology market is experiencing a rapid growth in end-user industries such as automotive, aerospace, medical, electronics, industrial, and power-generation industries. Optical metrology is a non-contact measurement technology, widely used to calculate or access unknown quantities. Across all the industries, it is primarily used for applications such as surface quality examination of polished surfaces, close range photogrammetry, sensor signal processing, measurement of uncertainties in complex objects, distance measurements, laser speckle metrology, and calibration of high dimensional sensor models.
This research report meticulously studies the current and historic data to estimate the future trends of the global optical metrology market. It performs segmentation analysis on the basis of various criteria including geography and end-user industries. Each segment is methodically examined in terms of both revenue and volume. The report provides insights into several critical aspects of the market such as its dynamics, key trends, and competitive landscape. It profiles the prominent players operating in the global optical metrology market along with their business strategies, latest developments, market shares, and revenue structures.
The rising awareness about the benefits of optical metrology systems such as higher efficiency in larger volumes along with faster-measuring capability is boosting their demand. Moreover, the increasing emphasis on matching international quality standards and low precision of existing measuring equipment are fuelling the global optical metrology market. Furthermore, the shortage of skilled precision machine operators, especially in developing economies is working in favor of the growth of the market. Since optical metrology systems form an important part of the semiconductor manufacturing processes, the increasing demand for semiconductors and consumer electronics globally is, therefore, augmenting the market.
On the other hand, the global optical metrology market is restrained by the lack of global standardization which can be applied across different sectors. Moreover, the high cost incurred for setting up optical metrology facility is hampering the growth of the market. However, the flourishing growth of the end-user sectors such as automotive and aerospace is likely to open new avenues for manufacturers in the market.
The key regions studied in the report are Asia Pacific, North America, Europe, and Rest of the World. North America and Europe are estimated to command a substantial combined share in the market throughout the forecast period. The presence of advanced infrastructure of various end-user industries such as automotive, aerospace, and semiconductor and electronics is driving the growth of the regions. The continual technological advancements are also providing a fillip to the market in these regions. Asia Pacific will rise at a significant CAGR during the same period, primarily due to the robust growth of the automotive industry and proliferation of smart devices and other consumer electronics.
Most of the prominent players in the global optical metrology market are focusing on enhancing the product efficiency and precision to consolidate their position. Some of the key players in the market are Nikon Instruments Inc., Hexagon Metrology Inc., GOM mbH, Mitutoyo Corporation, FARO Technologies, KLA-Tencor Corporation, Quality Vision International Pvt. Ltd., Nova Measuring Instruments Ltd., Steinbichler Optotechnik GmbH, Nanometrics Incorporated, Breuckmann GmbH, Perceptron Inc., ST Industries Inc., Creaform, and Micro-Vu Corp.