Dublin, Feb. 21, 2019 (GLOBE NEWSWIRE) -- The "3D Metrology Market by Offering (Hardware, Software, Services), Product (CMM, ODS, VMM, 3D AOL), Application (Reverse Engineering, Quality Control & Inspection, Virtual Simulation), End-user Industry, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The 3D metrology market was valued at USD 9.49 billion in 2018 and is expected to reach USD 16.18 billion by 2024, at a CAGR of 9.3% from 2018 to 2024.

3D metrology has a wide scope for growth in the manufacturing sector owing to its potential benefits over other existing technologies. There has been an increase in demand for 3D metrology services owing to the high cost associated with setting up a 3D metrology facility and the lack of 3D metrology experts. The growth of the 3D metrology systems market can be attributed to the adoption of automated technologies, which has revolutionized the manufacturing sector; and the evolution of smart factories has led to the demand for automated 3D metrology systems.

The market also faces certain challenges such as high cost incurred for setting up the 3D metrology facility and the requirement of a high level of technical expertise depending on the vertical and type of products and components being measured for analysis or inspection. The major factors driving the 3D metrology market are the need to capture large volumes of three-dimensional data for modeling and analysis, increasing focus on quality control, and limitations of traditional measurement devices to address many manufacturing issues.

The adoption of 3D metrology equipment in industries such as aerospace & defense, automotive, architecture and construction, medical, electronics, energy & power, and heavy machinery to maintain product quality is also expected to drive the growth of the 3D metrology market. Quality control is an integral part of the production process as it helps the process run smoothly without incurring any extra cost. Under quality control and inspection, 3D metrology is used for alignment, CAD-based inspection, dimensional analysis, and machine calibration among other functions. Industries such as automotive and aerospace have a complex supply chain consisting of a large number of vendors who demand consistent manufacturing and approval processes to be undertaken to ensure that required standards such as ISO/TS 16949 have been followed.

Product development was the key strategy adopted by players to increase their share in the 3D metrology market from 2016 to 2018. Product launches accounted for a share of 66.7% of the total number of growth strategies adopted by players in the 3D metrology market. The strategy of partnerships, collaborations, agreements; contracts & joint ventures; and mergers & acquisitions and expansions accounted for a share of 12.8%, 15.4%, and 5.1% of the total number of growth strategies adopted from 2016 to 2018, respectively.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the 3D Metrology Market
4.2 3D Metrology Market, By Offering
4.3 3D Metrology Market, By Application
4.4 Product and Industry Snapshot of 3D Metrology Market
4.5 US Held Largest Share of 3D Metrology Market (2018)

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Highly Accurate Inspection Owing to Three-Dimensional Data for Modelling and Analysis Increase in R&D Spending Focus on Quality Control
5.2.2 Restraints High Cost Incurred for Setting Up 3D Metrology Facility Lack of Expertise to Efficiently Handle 3D Metrology Systems
5.2.3 Opportunities Cloud Computing Services Offer Effective Cost and Time Saving Rise in Demand for Industry 4.0 Upsurge in Demand for 3D Metrology Services Increase in Rentals and Leasing Services
5.2.4 Challenges Lack of Simplified Software Solutions

6 3D Metrology Market, By Offering
6.1 Introduction
6.2 Hardware
6.3 Software
6.4 Services
6.4.1 After-Sales Services
6.4.2 Software as A Service
6.4.3 Storage as A Service
6.4.4 Measurement Services

7 3D Metrology Market, By Product
7.1 Introduction
7.2 Coordinate Measuring Machine (CMM)
7.3 Coordinate Measuring Machine (CMM)
7.3.1 Bridge CMM
7.3.2 Gantry CMM
7.3.3 Horizontal Arm CMM
7.3.4 Cantilever CMM
7.3.5 Articulated Arm CMM
7.4 Optical Digitizer and Scanner (ODS)
7.4.1 3D Laser Scanner
7.4.2 Structured Light Scanner
7.4.3 Laser Tracker
7.5 Video Measuring Machine (VMM)
7.5.1 Vision System
7.5.2 Measuring Microscope
7.5.3 Optical Comparator
7.5.4 Multisensor Measuring System
7.6 Automated Optical Inspection
7.7 Form Measurement

8 3D Metrology Market, By Application
8.1 Introduction
8.2 Quality Control and Inspection
8.3 Reverse Engineering
8.4 Virtual Simulation
8.5 Other Applications

9 3D Metrology Market, By End-User Industry
9.1 Introduction
9.2 Aerospace & Defense
9.2.1 Aircraft Components
9.2.2 Defense
9.2.3 Space Exploration
9.3 Automotive
9.3.1 Automotive Design & Styling
9.3.2 Pilot Plant Metrology
9.3.3 Automotive Component Inspection
9.3.4 Others
9.4 Architecture & Construction
9.5 Medical
9.5.1 Orthopedics and Prosthetics
9.5.2 Medical Devices
9.5.3 Dental
9.6 Electronics
9.7 Energy & Power
9.7.1 Turbines (Gas, Wind, & Hydro)
9.7.2 Solar Panel
9.8 Heavy Machinery Industry
9.9 Mining
9.10 Others

10 Geographic Analysis

11 Competitive Landscape
11.1 Overview
11.2 Key Strategies Adopted By Top Players
11.2.1 Product Launches
11.2.2 Partnerships, Contracts, Agreements, and Collaborations
11.3 Mergers & Acquisitions
11.4 Microquadrants
11.4.1 Visionary Leaders
11.4.2 Dynamic Differentiators
11.4.3 Innovators
11.4.4 Emerging Companies
11.5 Strength of Product Offering (26 Companies)
11.6 Business Strategy Excellence (26 Companies)

12 Company Profiles
12.1 Key Players
12.1.1 Hexagon
12.1.2 Faro Technologies
12.1.3 Nikon Metrology
12.1.4 Carl Zeiss
12.1.5 Kla-Tencor
12.1.6 Jenoptik
12.1.7 Renishaw
12.1.8 Mitutoyo Corporation
12.1.9 GOM
12.1.10 Creaform
12.1.11 Perceptron
12.1.12 3D Digital Corporation
12.1.13 Automated Precision
12.2 Other Players
12.2.1 Jlm Advanced Technical Services
12.2.2 Precision Products
12.2.3 Carmar Accuracy

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Related Topics: Engineering