Latest 3D Metrology Market Research Report Predicts Huge Growth

Yet another market research report on the 3D metrology market has been released and according predicts that the market size is expected to grow from USD 11.28 Billion in 2017 to USD 17.05 Billion by 2023, at a CAGR of 7.1% during the forecast period. The major driving factors for the 3D metrology market are claimed to be the highly accurate inspection owing to 3D data for modelling and analysis, increasing focus on quality control, and inability of traditional measurement devices to address many manufacturing issues. Moreover, growing IIoT market drives the demand for 3D metrology in automation. The highlighted conclusion of the Market & Markets report is as follows:

3D metrology market for reverse engineering applications to grow at a high rate between 2017 and 2023

The 3D metrology market for reverse engineering is expected to grow at a high rate between 2017 and 2023. Induttries such as automotive, aerospace & defense, and manufacturing have started using 3D metrology for design modification of actual objects to produce customized cars, spare parts, and produce parts whose production had been discontinued. High precision, faster product analysis, and the ability to make changes in the original product are the major drivers of 3D metrology market for reverse engineering.

3D metrology market for architecture & construction industry to grow at a significant rate between 2017 and 2023

3D scanners in architecture & construction are used to scan buildings, bridges, or process plants. The 3D metrology market for the architecture & construction industry is growing because of the integration of 3D scanning technology with software such as computer-aided design (CAD) that helps in the building information modelling (BIM) process to minimize the building design time and overall cost.

The North America to hold the major share of the 3D metrology market in 2017

Various 3D metrology systems have been adopted in the US in the nascent stage of the technology and have been used for different applications such as quality control and inspection, reverse engineering, and virtual simulation across various verticals including automotive and aerospace. Moreover, the presence of a number of automobile manufacturers and research institutes in this region has increased the demand for the 3D metrology equipment, which is propelling the growth of the 3D metrology market in North America.

The report highlights the major players in the 3D metrology market as Hexagon (Sweden), FARO Technologies (US), Nikon Metrology (Belgium), Mitutoyo Corporation (Japan), and Carl Zeiss Optotechnik (Germany), GOM (Germany), 3D Systems Corporation (US), 3D Digital Corporation (US), Perceptron (US), Creaform (Canada), GE Measurement & Control Solutions (US), Renishaw (UK), ZYGO Corporation (US), Advantest Corporation (Japan), WENZEL Prazision (Germany), OASIS Alignment Services (US), ATT Metrology Services (US), East Coast Metrology (US), H.S. & S. (US), Heliotis (Switzerland), SensoFar Group (Spain), Dimensional Metrology Services (Australia), Novacam Technologies (Canada), SHINING 3D Tech (China), and Zebicon (Germany).

Research Methodology

The research methodology used to estimate and forecast the 3D metrology market begins with capturing data on key vendor revenues through secondary research such as Hoovers, Bloomberg Business, Factiva, and OneSource. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global 3D metrology market from the revenues of the key market players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments.

For more information: www.marketsandmarkets.com