According to a new market report published by Transparency Market Research “Automated Optical Metrology Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021,” automated optical metrology market was valued at US$0.92 bn in 2014, at a CAGR of 7.6% from 2015 to 2021 to account for US$1.5 bn by 2021.
There has always been the need to ensure accurate measurement data that comply with international industry measurement standards. International bureau of weights and measures is one of the vital organizations, which is responsible for setting up international industry measurement standards. Companies across various industries have to follow such international measurement standards and therefore, compliance to international measurement standards is one of the major factors driving the growth of the global automated optical metrology market. Also, quality control, inspection and measurement in the manufacturing process of industries are expected to drive the overall market.
Optical metrology is the science and technology of measuring objects with the help of light. In addition, optical metrology equipment uses sophisticated technology to measure unknown quantities and hidden dimension of objects that are either difficult or impossible to measure physically.
By product, market is divided into three segments: video measuring machines, laser scanners and coordinate measuring machines. In 2014, coordinate measuring machines (CMM) was the largest contributor in global automated optical metrology market, accounted for a market share of more than 38%.
By application, market is divided into five segments: automotive, consumer electronics, medical, and aerospace and defense. In 2014, automotive segment was the largest contributor in automated optical metrology market, accounted for a market share of around 30% because of the increasing usage of automated optical metrology solutions in the automotive sector.
By region, Europe is the largest market of automated optical metrology in the world, followed by North America. However, automated optical metrology market has huge scope and opportunity in the emerging markets of Asia Pacific and Rest of the world (RoW). There is a dearth in the usage of automated optical metrology equipments by companies residing in the developing and under-developed countries of Asia Pacific and Rest of the world (RoW). Countries such as India, China, Japan, UAE and South Africa among others are the major automated optical metrology market falling under the Asia Pacific and RoW regions. With the increasing development of emerging markets and rising application areas of metrology solutions, the automated optical metrology market is set to improve in the coming years.
Browse the report at http://www.transparencymarketresearch.com/automated-optical-metrology-market.html