The global optical measuring systems market is expected to reach a valuation of approximately USD 4.5 billion by 2023. This growth trajectory can be chiefly attributed to the increasing investments in research and development, which are fostering innovations and advancements within the market. It is anticipated that by 2033, the market will achieve a substantial valuation of around USD 8.0 billion, reflecting an impressive CAGR of 5.9% from 2023 to 2033.
The optical measuring systems market has witnessed a significant surge in demand owing to the escalating need for precise measurements in a diverse array of industries. These advanced optical measuring systems offer remarkably high-resolution measurements, enabling manufacturers to effectively meet the ever-stringent quality control standards prevalent in their respective sectors.
The growing need for precise measurements spans across various industries including automotive, aerospace, electronics, and healthcare. This heightened demand has led to a robust market for optical measuring systems, renowned for their ability to deliver highly accurate measurements, thereby assisting manufacturers in adhering rigorously to the increasingly strict quality control standards.
A key propelling factor behind the expansion of the optical measuring system market is the increasing demand for 3D metrology services. This demand surge is driven by several factors, including the intricate nature of surfaces to be measured, complexities inherent in object geometries, and the necessity to conduct measurements without causing any damage to the subject. Consequently, the demand for optical measuring systems is poised for consistent growth as industries progressively adopt non-contact measurement techniques to meet their evolving demands and challenges.
Advancements in optical technologies, spanning sensors, cameras, lenses, and image processing algorithms, have emerged as a driving force behind the burgeoning market growth. These pioneering innovations have resulted in tangible benefits, including heightened measurement precision, accelerated data acquisition, and enhanced system capabilities. Consequently, optical measuring systems are gaining increased traction among end-users.
In conjunction with these technological strides, several other factors are contributing significantly to the robust expansion of the market. Notably, the rapid pace of industrialization, amplified investments in state-of-the-art technology, and the escalating demand for stringent quality control procedures are prominent drivers fueling the market’s growth trajectory.
The North American region is poised to experience substantial development in the optical measuring systems market. This can be attributed to the region’s sustained technological advancements and the presence of key market players, collectively fostering a conducive environment for market evolution and progress.
Furthermore, the optical measuring system market in South Asia and the Pacific region exhibits tremendous potential. This can be primarily attributed to the burgeoning manufacturing industries in key sectors such as automotive, electronics, and consumer goods. Countries like China, Japan, and South Korea are notably propelling the demand for optical measuring systems in this dynamic and rapidly evolving region.
Key Takeaways from the Optical Measuring Systems Industry Study:
- From 2018 to 2022, the optical measuring systems market demand expanded at a CAGR of 5.5%.
- Based on the light beam, the vertical optimizer segment accounts for a CAGR of 5.7%.
- By application, the manufacturing segment is expected to expand at a CAGR of 8% during the forecast period.
- North America to emerge as a promising optical measuring systems market, capturing a CAGR of 5.8%.
- The optical measuring systems industry in the United Kingdom is predicted to reach USD 7billion by 2033.
- South Asia and the Pacific to be an opportunistic optical measuring systems market, expected to capture a CAGR of 5.4% during the forecast period.
Competitive Landscape:
The global optical measuring systems market is fragmented with the presence of several large and medium-scale players. The leading players in the optical measuring systems market are investing in strategic agreements in order to capture market share.
Prominent players in the Optical Measuring Systems Industry are:
- Nikon Metrology
- Bowlers Group
- Physical Digital Ltd
- Mech Metrology
- Carl Zeiss AG
- Trimos SA
- OMS Corporation
- Jenoptik AG
- Mitutoyo Corporation
- Hexagon Manufacturing Intelligence
Key Segments Profiled in the Optical Measuring Systems Market Survey:
By Light Beam:
- Vertical Optimeter
- Horizontal Optimeter
- Tool Maker’s Microscope
By Application:
- Automotive
- Aerospace
- Medical
- Manufacturing
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East & Africa
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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