Video Measuring System Market Size, Latest Trends, Growth Status, Top Major Players And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Video Measuring System Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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.

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Market Drivers and Trends:

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.

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.

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Major Key Players of the Market:

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.

Video Measuring System Market 2024 Key Insights:

• The video measuring system market is expected to grow to $11.46 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%.
• Rising Smart Manufacturing Fuels Growth In Video Measuring System
• Focus On Optical Analysis And Measurement Solutions
• Asia-Pacific was the largest region in the video measuring system market in 2023

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