3D Metrology Market

Market Leader - 3D Metrology Market

The 3D metrology market is estimated to grow from USD 9.6 billion in 2021 to reach USD 13.4 billion by 2026; it is expected to grow at a CAGR of 6.8% from 2021 to 2026. A few key factors driving the growth of this market are increased R&D spending on 3D metrology, focus on quality control while manufacturing goods, and demand for higher productivity by electronics manufacturing services companies. Factors such as increasing adoption of cloud computing services and surging demand for industry 4.0 are expected to provide growth opportunities to players in the 3D metrology market.

Hexagon (Sweden), FARO Technologies (US), KEYENCE Corp. (Japan), Jenoptik (Germany), Nikon Corp. (Japan), Mitutoyo Corp. (Japan), ZEISS Group (Germany), KLA Corp. (US), Perceptron (US), Renishaw (UK), Creaform (Canada), Baker Hughes Company (US), CyberOptics Corp. (US), Trimble, Inc. (US), 3D Systems, Inc. (US), Automated Precision, Inc. (US) and Metrologic Group (France) are few major players in 3D metrology market. Most of the leading companies have used product launches and product development as key strategies to boost their revenues.

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Top 2 Market Players:

Hexagon (Sweden) develops sensors, software, and autonomous solutions. It provides information technology solutions that drive productivity and quality across geospatial and industrial enterprise applications. The company operates through the following business segments: Geospatial Enterprise Solutions and Industrial Enterprise Solutions. Industrial Enterprise Solutions (IES) segment includes the world-leading portfolio of metrology systems that incorporate the latest sensor technology for fast and accurate measurements. These solutions include technologies such as coordinate measurement machines (CMM) and laser trackers and scanners – which optimize design, processes, and throughput in manufacturing facilities. The segment also includes software for computer-aided design (CAD), computer-aided manufacturing (CAM), and computer-aided engineering (CAE). The key strategy of the company includes the launch of new products along with the development of new technologies and solutions. The company prominently adopts product launches as its main business strategy to widen its customer base and increase the overall business revenue. For example, in September 2020, Hexagon’s Manufacturing Intelligence released QUINDOS 2020.2, the latest version of the highly flexible and powerful measurement software catering to a range of applications from standard inspection, through special geometries, to the powertrain.

FARO Technologies, Inc. (FARO) is a US-based technology company. The company carries out the design, development, and manufacture of 3D-related products. Its products allow high-precision 3D capture, measurement, and analysis across several industries. The company mainly offers products in Australia, the Americas, Europe, and Asia Pacific. FARO Technologies, Inc. develops and markets computer-aided measurement and imaging devices and software for the following vertical markets: 3D Manufacturing, Construction BIM, Public Safety Forensics, and 3D design, 3D Manufacturing includes high-precision 3D measurement, imaging, and comparison of parts and complex structures within production and quality assurance processes. Construction BIM includes 3D capture of as-built construction projects and factories to document complex structures and perform quality control, planning, and preservation. 3D Design includes capture and edit part geometries or environments for design purposes in product development, computer graphics, and dental and medical applications. The company’s construction BIM product type offers solutions for as-built data capturing and 3D visualization in building information modeling and construction. Its applications include as-built documentation, construction monitoring, surveying, asset and facility management, and heritage preservation. To grow in the 3D metrology market, the company has adopted the key strategy of product launches and developments. It is launching portable 3D CMMs and 3D metrology software to increase the product offering to its customers and thereby increase its market share in the 3D metrology market.

Related Reports:

3D Metrology Market with COVID-19 Impact by Product Type (CMM, ODS, VMM, 3D AOI, 3D X-ray &CT), Application (Quality Control & Inspection, Reverse Engineering, Virtual Simulation), Offering, End-user Industry, and Geography - Global Forecast to 2026

Mr. Aashish Mehra
MarketsandMarkets™ INC.
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[email protected]

Report Code
SE 3606
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