Optical Measurement Global Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Optical Measurement Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $6.14 billion In 2028 At A CAGR Of 7.6% :

The optical measurement market size has grown strongly in recent years. It will grow from $4.25 billion in 2023 to $4.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to growing demand for 3d metrology services, increasing adoption of advanced optical measurement solutions, increasing r&d spending, growing industrialization, growing demand for quality control in various industries..

The optical measurement market size is expected to see strong growth in the next few years. It will grow to $6.14 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to continued emphasis on miniaturization in manufacturing, rise in demand for non-contact measurement techniques, expansion of applications in healthcare and life sciences, increasing complexity of manufacturing processes, growing demand for non-contact measurement techniques. Major trends in the forecast period include adoption of industry 4.0 and smart manufacturing, integration of artificial intelligence in optical measurement, increase in the use of hyperspectral imaging for material analysis, emergence of portable and handheld optical measurement devices, technological advancements .

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Optical Measurement Market Major Segments
The optical measurement market covered in this report is segmented -

1) By Offering: Hardware, Software, Services
2) By Component: Autocollimators, Measuring Microscopes, Profile Projectors, Optical Digitizers and Scanners, Coordinate Measuring Machines (CMMs), Video Measuring Machines
3) By End-User: Automotive, Aerospace & Defense, Energy and Power, Electronics Manufacturing, Industrial, Medical, Other End Users

Key Driver - Growth In Aerospace And Defense Industries Drives The Market

The increase in aerospace and defense industries are expected to propel the growth of the optical measurement market going forward. Aerospace and defense industries refer to companies that build aircraft, ships, spacecraft, weapon systems, and defense equipment. Optical coatings are largely employed in aerospace and defense machines as precise optics. As a result, the increasing aerospace and defense industries help to increase the demand for the optical measurement market. For instance, in 2021, according to the Indian Brand Equity Foundation, an India-based government agency, India's defense budget for 2020-21 stood at INR 4,71,378 crore (USD 67.4 billion), which is 9.37% higher than that in 2019-20. Therefore, the increase in aerospace and defense industries is driving the growth of the optical measurement market.

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Prominent Trend - Introduction Of Coordinate Measuring Machine (CMM)

New technological innovations have emerged as the key trend gaining popularity in the optical measurement market. Major companies operating in the optical measurement market are introducing innovations to reinforce their position in the market. For instance, in March 2021, Hexagon's Manufacturing Intelligence division, a Sweden-based technology company, introduced a new coordinate measuring machine (CMM) that addresses the challenges of measuring delicate components such as smartphone camera lens assemblies. This CMM allows manufacturers to perform quality inspections four to six times faster than conventional methods while maintaining uncompromising sub-micron accuracy. The new CMM leverages advanced technology and features to provide accurate and efficient measurements of delicate components. It is designed to minimize the risk of damage to fragile parts during the inspection process and offers high-speed, non-contact measurement capabilities.

Optical Measurement Market Players
Major companies operating in the optical measurement market report are Vision Engineering Limited, Nikon Corporation, Mitutoyo Corporation, Hexagon AB, Faro Business Technologies India Pvt. Ltd., Jenoptik AG, Carl Zeiss AG, GOM & Company, Keysight Technologies Inc., R&D Vision, Ametwk Inc., Olympus Corporation, Quality Vision International Pvt. Ltd., Nova Measuring Instruments Ltd., Steinbichler Optotechnik GmbH, Nanometrics Incorporated, Breuckmann GmbH, Perceptron Inc., ST Industries Inc., Creaform Inc., Third Dimension Private Limited, Keyence Corporation, Accretech Finance Co. Ltd., Zygo Corporation, KLA-Tencor Corporation, Renishaw plc, Alicona Imaging GmbH, Bruker Corporation, CyberOptics Corporation, Avantes BV

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Largest And Fastest Growing Region In The Market
North America was the largest region in the optical measurement market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the optical measurement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Optical Measurement Market Report Structure
3. Optical Measurement Market Trends And Strategies
4. Optical Measurement Market - Macro Economic Scenario
5. Optical Measurement Market Size And Growth
…..
27. Optical Measurement Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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