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Expanding for Pool of Consumers Providing an Impetus to the Optical Comparator Market

05-09-2019 01:25 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Future Market Insights

Optical Comparator Market

Optical Comparator Market

Optical Comparator Market: Introduction

The increasing demand for efficient devices is expected to drive the growth of the global optical comparator market. The demand for optical comparator is increasing in the manufacturing industry as they eliminate the errors during manufacturing processes and increase the products lifecycle. Automotive, medical device manufacturing and aerospace industries are mostly adopting optical comparator, as these industries are also called accuracy centric. Optical comparator minimizes the chances of minor damages and saves time and cost of manufacturing. The optical comparator is one of the most accurate instruments available for fast measurement of products during production. Optical comparator uses two types of illumination, i.e., profile illumination and surface illumination. In profile illumination, the light from the optical comparator shines past the part and casts on the screen of the optical comparator. In surface illumination, the surface of the part is shown on the screen, like on television. In profile illumination, the screen only displays the outline of the object. The major advantages of using an optical comparator are that it has less number of moving parts, accuracy, eliminates parallax errors, provides high magnification, and the optical lever is weightless.

Optical comparator offers precise and accurate comparison, which allows companies to fast comparison of products. Manufacturers are opting for automation for the manufacturing of complex high-tech products, in order to minimize errors. To minimize the operational costs, manufacturers are focusing on to invest in optical comparator. Optical comparator is witnessing huge adoption in pharmaceutical companies as they help in maintaining consistency and accuracy during the production of medicines. Several developments in the optical comparator with reference to display technology is expected to drive the growth of the global optical comparator market during the forecast period.

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Optical Comparator Market: Drivers and Restraints

Increasing applications of optical comparator in automotive and aerospace & defense verticals is expected to support the growth of the optical comparator market during the forecast period. Increasing pressure on manufacturers to minimize the operational cost to increase profit margins and growing inclination towards automation has resulted in significant investments in the automotive industry. Furthermore, the need to maintain the quality standards in end-use industries is propelling the adoption of optical comparators.

Factors expected to hinder the growth of the optical comparator market are high cost and need of continuous electricity supply. Skilled labor force and technicians are required to operate optical comparator, which is a factor expected to adversely affect the growth of the optical comparator market during the forecast period.

Optical Comparator Market: Segmentation

Segmentation based on product type:

The optical comparator market is segmented based on product type into profile illumination optical comparator and surface illumination optical comparator.

Segmentation based on end use:

The optical comparator market is segmented based on end-use into medical, automotive, aerospace & aeronautics, cutting tool, manufacturing, extrusions, military, telecommunications, power & energy, and others.

Optical Comparator Market: Key Players

Examples of some of the key players operating in the optical comparator market are Hammond Company, Optimax Imaging Inspection & Measurement Ltd, THE L.S. STARRETT COMPANY, Spectrum Metrology Ltd., Leader Precision Instrument Co., Ltd., Beijing United Test Co., Ltd., Quality Vision International Inc., TT Electronics plc, and Suburban Tool, Inc., among others.

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Optical Comparator Market: Regional Overview

North America and Western Europe are expected to hold major shares in the global optical comparator market during the forecast period. Adoption of precision engineering practices by manufacturers in North America with focus on accuracy and reliability in the manufacturing of products has resulted in increasing applications of the optical comparator in various verticals, which is expected to contribute to the growth of the optical comparator market in the region during the forecast period. The huge demand from aerospace and defense in the U.S. is expected to create a potential demand for optical comparators and will have a positive impact on the growth of the global optical comparator market. 

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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