Press release
Video Measuring System Market 2024 Trends, Share, Size, Growth, Opportunities And Forecast 2033
Video Measuring System Market
The Business Research Company offers in-depth market insights through Video Measuring System Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The video measuring system market size has grown rapidly in recent years. It will grow from $6.31 billion in 2023 to $7.2 billion in 2024 at a compound annual growth rate (CAGR) of 14%. The growth in the historic period can be attributed to increasing adoption of precise measurement, increased quality assurance demands, globalization of manufacturing, diverse industry applications, diverse industry applications. The video measuring system market size is expected to see rapid growth in the next few years. It will grow to $11.46 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to industry 4.0 and smart manufacturing, automation and integration, improved software capabilities, environmental adaptability, increasing complexity of components, growing focus on non-contact measurement. Major trends in the forecast period include advancements in camera technology, integration of artificial intelligence, 3D measurement, improved calibration techniques, customization for specific industries.
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Market Segmentation:
The video measuring system market covered in this report is segmented -
1) By Product Type: Manual Video Measuring System, Automated Video Measuring System
2) By Offering: Hardware, Software, Services
3) By Application: Automotive, Aerospace And Defense, Heavy Machinery, Energy And Power, Electronics, Medical, Other Applications
Major Driver - Rising Smart Manufacturing Fuels Growth In Video Measuring System
The rising adoption of smart manufacturing is expected to propel the growth of the video measuring system market going forward. Smart manufacturing refers to a category of manufacturing that utilizes computer-integrated manufacturing, high levels of adaptability, rapid design changes, digital information technology, and more flexible technical workforce training. Video measuring systems are used in smart manufacturing to provide accurate and automated non-contact measurements for quality control and precision in production processes. For instance, in May 2022, according to a survey of 321 manufacturers conducted by Rockwell Automation, Inc., a US-based provider of industrial automation and digital transformation technologies, the adoption of smart factory technologies witnessed a remarkable 50% year-over-year growth. Moreover, 74% of surveyed manufacturers are either currently utilizing or planning to integrate artificial intelligence into their manufacturing operations, and 83% of manufacturing professionals are planning to upgrade their modernization processes into smart factories. Therefore, the rising adoption of smart manufacturing is driving the video measuring system market.
Competitive Landscape:
Major companies operating in the video measuring system market report are Carl Zeiss AG, Keyence Corporation, Hexagon AB, Nikon Corporation, Advantest Corporation, Trimble Inc., Leica Geosystems AG, Cognex Corporation, Renishaw plc, Mitutoyo Corporation, 3D Systems Corporation, FARO Technologies Inc., GOM GmbH, E. Zoller GmbH & Co. KG, Accu-Tech Measurement System Ltd., Creaform Inc., Perceptron Inc., LMI Technologies Inc., Wenzel Group GmbH & Co. KG, Sipcon Instrument Industries, Vision Engineering Ltd., Zygo Corporation, Carmar Accuracy Co. Ltd., OCTUM GmbH, Dongguan Yihui Optoelectronics Technology Co. Ltd.
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Top Trend - Focus On Optical Analysis And Measurement Solutions
Major companies operating in the video measuring system market are focused on developing innovative products with advanced technological solutions, such as optical analysis and measurement systems, to strengthen their position in the market. An optical analysis and measurement system refers to an instrument or set of instruments that use optics to measure and analyze various properties of light, such as wavelength, intensity, and polarization state. For instance, in March 2023, QATM, a Germany-based materialography and hardness testing company, launched Qeye 800, an advanced optical analysis and measurement system tailored for precise examination and measurement of specimens with a specific focus on standardized weld seam measurement and inspection. It is equipped with essential measurement tools like A dimension, depth burn-in, evaluation limits, and a standard-compliant inspection report, and the Qeye 800 is seamlessly integrated into the user-friendly Qpix Control2 software for efficient use.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Video Measuring System Market Characteristics
3. Video Measuring System Market Trends And Strategies
4. Video Measuring System Market - Macro Economic Scenario
5. Video Measuring System Market Size And Growth
…..
27. Video Measuring System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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