3D Metrology Market to Witness Comprehensive Growth by 2030

Allied Market Research, titled, "3D metrology Market By Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2030", the global 3D metrology market size was valued at $8.77 billion in 2020, and is projected to reach $19.61 billion by 2030, registering a CAGR of 9.2%. Asia-Pacific is expected to be the leading contributor to the 3D metrology market during the forecast period, followed by LAMEA and Europe.

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3D metrology is a full cycle measurement and data acquisition system, which helps in capturing complete information of an object in a digital format. It is used in industries such as aerospace & defense, automotive, and consumer electronics & medical.

Global 3D metrology market growth is anticipated to be driven by factors such as growing automotive industry across the globe and focus on quality control while manufacturing goods. In addition, the surge in demand for higher productivity by electronics manufacturing companies boosts the overall market growth. However, the lack of simplified software solutions acts as a major restraint to the growth of the global industry. On the contrary, the surge in demand for Industry 4.0 and significant growth in the aviation industry are expected to create lucrative opportunities for the 3D metrology industry.

Moreover, developing nations tend to witness high penetration of 3D metrology products, especially in the industrial and automotive sectors, which is anticipated to augment the market growth. Factors such as a surge in demand for Industry 4.0 accelerate the market growth.

The global 3D metrology market is segmented into product, application, end-user, and region. By product, the market is classified into coordinate measuring machines, optical digitizers & scanners, automated optical inspection, video measuring machines, and others. Depending on the application, the market is categorized into quality control & inspection, reverse engineering, virtual simulation, and others. Based on end user, it is classified into electronics, architecture & construction, aerospace & defense, industrial, automotive, and others.

Region-wise, the 3D metrology market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed the maximum revenue in 2020. However, between 2020 and 2030, the market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. This is attributed to an increase in demand from emerging economic countries such as India, China, Japan, Taiwan, and South Korea.

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The outbreak of COVID-19 has significantly affected the electronics and semiconductor sector. Business and manufacturing units across various countries were closed, owing to an increase in the number of COVID-19 cases, and are expected to remain closed in 2021. Furthermore, partial or complete lockdown has disrupted the global supply chain posing challenges for manufacturers to reach customers.

The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day by day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market and is resulting in falling business confidence, massive slowing of the supply chain, and increasing panic among customer segments.

Asian and European countries under lockdowns have suffered major losses of business and revenue, owing to the shutdown of manufacturing units. Operations of production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted the growth of the 3D metrology market.

In addition, the COVID-19 pandemic has impacted the electronics sector as production facilities have stalled, which, in turn, has increased demand for electronics and semiconductor products in these industries. Its major impact includes a large manufacturing interruption across Europe and an interruption in Chinese parts exports, which hinder the 3D metrology market.

Key Findings of the Study

- The quality control & inspection segment is projected to be the major application, followed by reverse engineering.
- Asia-Pacific and North America collectively accounted for more than 62% of the 3D metrology market share in 2020.
- India is anticipated to witness the highest growth rate during the forecast period.
- The U.S. was the major shareholder in the North America 3D metrology market, accounting for approximately 78% share in 2020.
- Depending on the product, the coordinate measuring machine segment generated the highest revenue in 2020. However, the automated optical inspection segment is expected to witness the highest growth rate in the future.
- Region-wise, the 3D metrology market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the coming years.

The key players profiled in the report include 3D Digital Corporation, 3D Systems Corporation, Applied Materials Inc., Automated Precision Inc., Carl Zeiss AG, Creaform Inc., FARO Technologies Inc., Keyence Corporation, Nikon Metrology NV, and Perceptron Inc. These players have adopted various strategies such as acquisition, collaboration, merger, and product launch to strengthen their foothold in the industry.

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