Press release
Sales of Automated Optical Metrology Market demand to rise with Growing Emphasis on Improvements in Measurement Accuracy
The key competitive strategy employed by most top players in the automated optical metrology market is driving company growth through constant product innovation and development. Transparency Market Research states that innovation for new products is a necessity in this market to maintain a strong foothold within its stiff competitive landscape. Apart from this, companies are also focusing on mergers and acquisitions. Close to half the market shares were held by regional players in 2014, and key players can look for opportunities in regional expansion through this fragmented set.
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Industries Pull in Advanced Automated Optical Metrology Solutions to Comply with Measurement Standards
“The lack of measurement standardization within any industry can be extremely detrimental when it comes to trade,” states a TMR analyst. “As such, most industries are striving to keep up with the market growth by inculcating the measurement standards to ensure high quality of products that can be exported.”
Quality control, measurement, and inspection have thus become a core necessity in all manufacturing processes. The International Bureau of Weights and Measures is one such organization that is responsible for fixing measurement standards on an international scale.
All companies affiliated with these industries must adhere to these standards to ensure high quality product quality, therefore ramping up the demand for automated optical metrology.
Lack of International Measurement Standards Hinder Automated Optical Metrology Players from Expanding Geographically
While industries follow their own measurement standards for quality control, each organization possesses its own set of standard measurements. Furthermore, these clustered measurement standards can also prove to be contradictory to other standards, causing significant confusion and loss of product manufacturing time.
Companies applying these non-standard measurement for international trade are the ones most hit. The lack of international measurement standards is therefore, something that needs to be resolved to improve the growth rate of automated optical metrology.
Automotive Industry Ups Demand for Automated Optical Metrology Systems
The global automated optical metrology market is expanding at a CAGR of 7.6% within a forecast period from 2015 to 2021 in terms of revenue. This revenue is expected to reach US$1,565.3 mn by the end of 2021.
The region with the largest revenue share in automated optical metrology is Europe. Its revenue is expected to reach US$479.6 mn by the end of 2021. North America and Asia Pacific are expected to be a close second and third respectively.
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The largest scope of use for automated optical metrology services is found in the automotive industry. The revenue generated by automated optical metrology players from the automotive industry by 2021 is expected to reach US$421 mn.
The information presented in this review is based on a Transparency Market Research report, titled, “Automated Optical Metrology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021.”
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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