Emerging Trends and Growth Opportunities in the 3D Metrology Market: Future Market Insights, Inc. Report

According to forecasts, the market for "3D metrology market" would be worth US$ 10.85 billion in 2023 and US$ 24.53 billion by 2033. From 2023 to 2033, the global industry grew at a CAGR of 8.5%. To get around capital limitations, several businesses are concentrating on creating unique handheld scanners that are coupled with supporting software. Due to significant public and private investments in additive manufacturing for the growth of the aviation sector, it is anticipated that the demand for 3D metrology will rise even more.

Engineers and designers may quickly collect high-quality data on their products using a 3D measuring scanner, eliminating the need for manual labour. The increasing demand for metrology scanners in the engineering industry points to a healthy growth rate for the global market.

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Profitable Market Opportunity

The development of the application base of universal systems to encompass several functional aspects is limited by the necessity for specialized metrology solutions. As a result, the end-user is forced to pick from a variety of service providers to display a single chain of production processes. Yet, it can increase the associated prices and force customers to acquire their metrology products, contributing to the overall demand.

Key Takeaways

By 2033, France is expected to dominate the 3D metrology market in Europe.
The 3D metrology market was significantly expanding, with a size of US$ 10 billion in 2022.
The market is anticipated to expand at a valuation of US$ 13.86 billion by 2026, as a result of rising applications in end-use industries.
Due to the market's excellent potential and cutting-edge technologies like virtual simulation in manufacturing procedures, analysts expect it is likely to rise 1.08 times between 2022 and 2023.
Germany is likely to expand significantly in the 3D metrology market, with a CAGR of 7.1% by 2033.
By 2033, the United States is anticipated to dominate the North America region with a 6.2% CAGR.
Based on components, the hardware segment dominated the market with a 50% share in 2022 and continued to lead the market during the forecast period.
Based on application, quality control, and inspection led the market share in 2022, and continues to lead the market during the forecast period.

Critical Approaches Increasing Top Players' Wealth

The 3D metrology approach reduces the cost of product development, as well as the overall time needed for new releases. Long-term expenses for significant players have dropped as a result. Some top organizations are using a range of business strategies, such as partnerships, acquisitions, and business development, to broaden the market in the country.

Top key players in the 3D metrology industry are Zeiss International, FARO Technologies, Inc, Hexagon AB, Intertek Group Plc, Nikon Corporation, KLA Corporation, Keyence Corporation, Perceptron, Inc., Renishaw Plc, Applied Materials, and others.

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Recent Developments

Hexagon AB purchased Thermopylae Sciences + Technologies in February 2019; the company specialized in geospatial solutions to improve location intelligence. The purchase was made to accelerate the adoption of a 5D visualization application by the American government and defense sector.
The introduction of FARO Technologies, Inc., a developer of 4D digital reality solutions' new end-to-end 3D digital reality capture & collaboration platform, is scheduled for April 2022. This platform analyses and stores measurement data using contemporary methods like cloud computing and artificial intelligence.

Key Segments

3D Metrology by Component:

Hardware
Software
Services

3D Metrology by Application:

Quality Control & Inspection
Virtual Simulation
Reverse Engineering
3D Scanning

3D Metrology by End Use:

A&D
Automotive
Construction & Engineering
Medical
Heavy Machinery

3D Metrology by Region:

North America
Latin America
Europe
East Asia
South Asia & Pacific
Middle East and Africa (MEA)

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This release was published on openPR.