Press release
Video Measuring System Market Poised for 11.8 % Growth, Set to Hit $39.81 Billion by 2029
Video Measuring System Market Size
The increase in smart manufacturing adoption is anticipated to fuel the expansion of the video measuring system market in the future. Smart manufacturing pertains to manufacturing that employs computer-integrated manufacturing, high adaptability, swift design revisions, digital information technology, and more flexible professional training. Video measuring systems are employed within smart manufacturing to deliver precise and automated non-contact measurements to achieve quality control and accuracy in production. For example, a survey by Rockwell Automation, Inc., a US-based industrial automation and digital transformation technology provider, showed in May 2022, that a substantial year-over-year growth rate of 50% was observed in the adoption of smart factory technologies among 321 surveyed manufacturers. Additionally, 74% of the manufacturers in the survey either currently use or plan to incorporate artificial intelligence into their manufacturing procedures, and 83% of manufacturing experts are looking to modernize their processes into smart factories. Consequently, the surge in smart manufacturing adoption is propelling the video measuring system market.
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What is the projected compound annual growth rate (CAGR) of the video measuring system market from 2025 to 2034, and what factors influence it?
The market size of the video measuring system has seen a swift expansion recently. The growth is projected from $7.2 billion in 2024 to a notable $8.18 billion in 2025 with a compound annual growth rate (CAGR) of 13.7%. Factors influencing this growth during the historic period include the escalating acceptance of accurate measurements, escalating demand for quality assurance, global expansion of manufacturing, and multiple applications across different industries.
Anticipated to see a swift expansion in the coming years, the video measuring system market will surge to a size of $12.77 billion by 2029, with a compound annual growth rate (CAGR) of 11.8%. This growth during the forecast period is credited to the advent of industry 4.0 and smart manufacturing, along with improved automation and integration, enhanced software abilities, adaptability to environments, increased complexity of components, and a heightened emphasis on non-contact measurement. Noteworthy trends within this period include progress in camera technology, the incorporation of artificial intelligence, 3D measuring techniques, superior calibration methods, and tailor-made solutions for specific industries.
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How are the latest trends influencing the growth of the video measuring system market?
Leading firms in the video measuring system market are fortifying their market positioning by inventing novel products equipped with superior technology, such as optical analysis and measurement systems. These systems are a type of analytical instrument or suite of tools that utilize optical technologies to assess and evaluate various attributes of light, including wavelength, intensity, and polarization state. A case in point, in March 2023, QATM, a firm from Germany specializing in materialography and hardness testing, introduced Qeye 800. This advanced optical analysis and measurement device is designed especially for meticulous examination and measurement of specimens. It pays acute attention to standardized weld seam measurement and inspection. The Qeye 800 has integral measurement tools such as A dimension, depth burn-in, evaluation limits, and an inspection report that complies with standards. Furthermore, the Qeye 800 has been smoothly incorporated into the user-friendly Qpix Control2 software for optimal usage.
What are the major segments of the video measuring system market and their role in driving growth?
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
Subsegments:
1) By Manual Video Measuring System: Benchtop Manual Video Measuring System, Portable Manual Video Measuring System
2) By Automated Video Measuring System: CNC Video Measuring System, In-line Automated Video Measuring System, Multi-sensor Automated Video Measuring System
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Asia-Pacific was the largest region in the video measuring system market in 2024. The regions covered in the video measuring system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the video measuring system market?
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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What Is Covered In The Video Measuring System Global Market Report?
•Market Size Forecast: Examine the video measuring system market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the video measuring system market for a structured understanding.
•Key Players Overview: Analyze major players in the video measuring system market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the video measuring system market.
•Segment Contributions: Evaluate how different segments drive overall growth in the video measuring system market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the video measuring system market.
•Industry Challenges: Identify potential risks and obstacles affecting the video measuring system market.
•Competitive Landscape: Review strategic developments in the video measuring system market, including expansions, agreements, and new product launches.
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