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Wednesday, 20 July 2016
Automated Optical Metrology Market : Global Industry Information, Market Strategies and Industry Forecast 2016-2023
According to a new market report published by Credence Research, Inc., “Automated Optical Metrology Market(By End-use Application (Industrial Manufacturing, Automotive, Heavy Industry, Electronics and Electrical, Aerospace and Defense, Energy and Power, and Other End-use Applications), By Product (Laser Scanners, Video Measuring Machines (VMM), and Coordinate Measuring Machines (CMM))) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the global automated optical metrology market is expected to witness steady growth in demand, expanding at a CAGR of 7.3% during the forecast period 2016 to 2023.
Optical metrology is the field of science and technology that is concerned with optical measurements such as radiometry and photometry. The technology includes measurement of unseen dimensions and objects and is majorly used for applications where it is difficult to establish physical contact between the sensors and surface of the object to be measured. The industrial manufacturing has evolved over the years and become highly competitive on account of profit crunching, need for achieving economies of scale, and mounting pressure to deliver quality output in shorter lead times. This has driven the need for automation in manufacturing units, supporting demand for automated metrology equipment for inspection and reverse engineering applications. Thus, optical metrology being capable of boosting efficiency, productivity and quality levels through 100% inspection rates has become an integral element in industrial automation.
The global automated optical metrology market is technology driven. The global market for automated optical metrology is dominated by handful of players including Hexagon AB, Nikon Metrology Inc., Carl Zeiss Optotechnik GmbH, ASML Holding NV, Steinbichler Optotechnik GmbH, KLA Tencor Corporation, and Optical Metrology Services Ltd. Focus on technology development and product innovation continues to be the key strategies as manufacturers strive to develop sophisticated automated optical solutions capable of quick analysis of 2-Dimensional and 3-Dimensionaal objects with unparalleled accuracy.
Europe represents the most lucrative automated optical metrology market in the current scenario. Growing trend towards industrial automation coupled with the growing demand for optical metrology solutions in automotive and semiconductor sectors is driving the market growth in the region. Over the forecast period, Asia Pacific is expected to exhibit healthy growth, outpacing developed markets including Europe and North America.
Automotives is one of the major revenue-spinning application segments in the automated optical metrology market. The resurrection of the automotive industry and demand for precise measurements during manufacturing and assembly bodes well for the market growth in automobile segment. Aerospace industry is also expected to witness stronger returns on account of growing demand and production of aircrafts across the globe.
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