Automated Optical Metrology Market worth Projected to Touch US$1.565 bn by 2021
Global automated optical metrology market is expected to expand at a CAGR of 7.6% from 2015 to 2021. This market is expected to accrue a revenue of US$1.565 bn by the end of 2021.
[USPRwire, Fri Mar 15 2019] This market research study analyzes the automated optical metrology market on global basis and provides estimates in terms of revenue (USD Million) from 2014 to 2021. It describes the market dynamics affecting the industry and analyzes their impact through the forecast period. Moreover, it highlights the significant opportunities for market growth in the next six years.
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Optical metrology helps calibrate objects that cannot be measured physically. It is the science and technology of measuring unknown qualities with light. The measurement principle of optical metrology is based on the fact that the transmission of light is without any contact. Therefore, optical metrology is generally used in areas where physical contact cannot be made between the measuring equipment and the object to be measured. Different light sources such as narrowband, broadband and laser can also be used on measuring equipments to calibrate the measurements and retrieve the data on a receiving target. The receiving target analyzes the data with the help of software algorithms and provides an accurate result to the user. Laser scanners, coordinate measuring machines and video measuring machines are the major optical metrology products that provide precise measurement information. The growing need for compliance to international industry standards and accurate measurement data has led to the application of optical metrology products in various business sectors such as automotive, industrial and aerospace.
Optical metrology products find the largest application in the automotive sector. The automotive sector is witnessing huge growth due to the increasing usage and production of vehicles globally. Advanced optical metrology equipments that provide accurate measurement results are largely demanded by the automotive sector, where there is a requirement of measuring objects having unknown quantities. Therefore, the growth in the automotive sector is set to drive the market of automated optical metrology market across the world.
Aerospace sector is one of the booming sectors, where optical metrology finds various applications. In the civil aerospace market, civil passenger aircrafts are expected to double by the year 2030. Increasing air traffic and replacement of aging aircrafts with new and advanced aircrafts are set to drive the growth of civil aerospace market; furthermore driving the growth of global automated optical metrology market. In addition, the aviation industry rely on high quality measurement standards and computer aided design (CAD), which makes the use of optical metrology equipments very significant in the aerospace sector.
Although there are a number of organizations that set quality control and measurement standards across the globe yet the measurement standards are contradictory to each organization. This creates dispute in measurement policies of companies in various countries. Therefore, the lack of universal measurement is expected to inhibit the global automated optical metrology market till the time a universal measurement policy is established.
The market is segmented on the basis of geography into Europe, North America, Asia Pacific and Rest of the World (RoW). These segments have been estimated in terms of revenue (USD million). In addition, the report has been segmented based on product types, which includes, video measuring machines, laser scanners and coordinate measuring machines. In addition, the report is also segmented by application that includes automotive, consumer electronics, industrial, medical, and aerospace and defense.
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For better understanding of the automated optical metrology market, the study comprises market attractiveness analysis, where the product types are benchmarked based on their market scope, growth rate and market attractiveness.
The report also provides company market share analysis of the various industry participants. Key players have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: KLA Tencor Corporation (U.S.), ASML Holding NV (Netherlands), Hexagon Metrology, Inc. (Sweden), Nikon Metrology NV (Belgium) and Steinbichler Optotechnik GmbH (Germany) among others.
The automotive catalytic converter market has been segmented as:
Global Automated Optical Metrology Market: By Product Type
- Video measuring machines
- Laser scanners
- Coordinate measuring machines
Global Automated Optical Metrology Market: By Application
- Consumer electronics
- Aerospace & Defense
Global Automated Optical Metrology Market: By Geography
- North America
- Rest of Europe
- Asia Pacific
- Oceania (Australia and New Zealand)
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- South Africa
The report provides a cross-sectional analysis of by product type and of by application segment with respect to the above mentioned regions.
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