The global optical measuring systems market is projected to be valued at USD 4.3 billion in 2022, with strong demand expected to persist throughout the assessment period. This growth is attributed to the rising automation in various industries, leading to a forecasted market value of USD 8.0 billion by 2033, representing a CAGR of 5.9% from 2023 to 2033. Additionally, the market is anticipated to reach USD 4.5 billion in 2023.
Optoelectronics plays a vital role as a foundational technology for electronic devices that emit, modulate, and transmit light signals. Optoelectronic transducers detect light waves and convert them into electrical signals, such as voltage or current, enabling the measurement of light intensity. These transducers consist of both transmitters and receivers to sense optical attenuation.
Transducers in the optoelectronic family go beyond basic sensors by incorporating signal conditioning, making them superior as they both sense and process signals. Sensors, on the other hand, only detect signals, while transducers offer greater functionality.
Optoelectronic transducers are used in numerous applications, including converting light into electrical signals and vice versa, forming a key subset of photonics. They are essential for information gathering, transmission, display, storage, and processing.
Market Drivers:
- Innovations in semiconductor technology have expanded the scope of photonics and electro-optics, contributing to the growing adoption of optoelectronic components in electronics.
- The ability of optoelectronic transducers to measure light sources by detecting and converting them into electrical signals, along with signal conditioning, is driving market growth.
- Optoelectronic components, such as LEDs, laser diodes, and image sensors, are widely used in various electronic devices like televisions, cameras, laptops, and smartphones, fueling demand.
- LEDs are increasingly used in residential and commercial settings due to their energy efficiency and durability, while laser diodes find applications in telecommunications and other sectors.
- Image sensors are integral to machine vision, surveillance, and automotive cameras, further boosting the optoelectronic transducers market.
These advancements and broad applications are expected to drive further growth in the optoelectronic transducers market over the forecast period.
Key Takeaways from the Market 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 US$ 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.
Key Companies Profiled
- 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
Report Preview: https://www.futuremarketinsights.com/reports/optical-measuring-systems-market
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