Dublin, Feb. 08, 2019 (GLOBE NEWSWIRE) -- The "Optical Metrology Market by Product, by Application by Industry, by Geography - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering. The optical metrology market is expected to reach $2,945.3 million by 2023, buoyed by growing need for precise measuring tools and equipment for inspection in semiconductor industry, rise in demand for inspection of cracks and defects in underground pipes in the oil & gas industry, and increasing applications of optical metrology in manufacturing and healthcare industries. On the basis of product, the optical metrology market is segmented into optical/laser scanners, video measuring machines, and laser micrometery. The optical/laser scanners product category held the largest share of over 70% in 2017. In terms of adoption, optical/laser scanners are largely being preferred over the traditional Coordinate Measuring Machines (CMMs), predominately due to higher speed, comparable accuracy, portability, and scalability. Based on industry, the market is segmented into automotive, consumer electronics, medical, aerospace and defense, and others, wherein others' include energy and utility, education, oil and gas, food and beverage, and construction. Of these, automotive industry held the highest share in the market accounting for nearly 39% share in 2017. This is attributed to growing automotive industry in countries like China, U.S., and Germany and increasing demand for optical metrology equipment for inspection and measurement of manufactured parts for automobiles. China is the world's largest vehicle market with its annual vehicle production accounting for about 30% of global vehicle production in 2016. APAC is expected to witness fastest CAGR during the forecast period, with China anticipated to lead the pack during the same period. The growth can be attributed to rising demand for optical metrology equipment for surface inspection, and measurement of automotive parts, supported by increasing production of vehicles in China, and government initiatives for the launch of electric vehicles in the country. In 2017, around 579,000 units of electric vehicles were sold in China, up from around 336,000 units in 2016. Further, the government of China has targeted to sell 2 million electric vehicles by 2020. With growing manufacturing industry in the world, the demand for first article inspections, acceptance testing, and benchmark testing are increasing in this industry. The tools, molds, and assemblies used to manufacture precision parts need to be accurate and defect-free. Hence, they require laser scanners, comparators for measurements of dimensions. Owing to this, the demand for optical metrology is increasing globally. Moreover, healthcare industry uses 3D scanners for numerous applications including designing prosthetic and orthotic devices, automated measurement of medical components, implant research, plastic surgery and several others. 3D scanners also provide full-field geometric data to inspect medical devices made of plastics, and for further processing in Computer-Aided Design and Manufacturing (CAD/CAM) processes in dentistry. Hence, the increasing need for inspection and measurement of medical devices is fueling the market growth. Companies like Hexagon Manufacturing Intelligence, and Faro Technologies Inc. were the major companies involved in the launch of new products. For instance, Hexagon Manufacturing Intelligence launched GLOBAL Advantage High Throughput and Accuracy (HTA), a metrology solution for the aerospace industry, based on Hexagon's advanced HP-O Multi optical scanning probe technology for high-speed non-contact measurement of aero- and land-based compressor blades in shop-floor environments. Key Topics Covered: Chapter 1. Research Background 1.1 Research Objectives 1.2 Market Definition 1.3 Research Scope 1.4 Key Stakeholders Chapter 2. Research Methodology 2.1 Secondary Research 2.2 Primary Research 2.3 Market Size Estimation 2.4 Data Triangulation 2.5 Assumptions for the Study Chapter 3. Executive Summary Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Product 4.1.1.1 Video Measuring Machines 4.1.1.2 Optical/ Laser Scanners 4.1.1.3 Laser Micrometry 4.1.2 By Application 4.1.2.1 Surface Inspection 4.1.2.2 Form Measurement 4.1.2.3 Distance Measurement 4.1.3 By Industry 4.1.3.1 Automotive 4.1.3.2 Aerospace and Defense 4.1.3.3 Consumer Electronics and Semiconductor 4.1.3.4 Medical 4.1.3.5 Others 4.2 Value Chain Analysis 4.2.1 Raw Material Providers 4.2.2 Manufacturers 4.2.3 Distributors 4.2.4 End-User 4.3 Market Dynamics 4.3.1 Trends 4.3.1.1 Use of portable handheld devices 4.3.1.2 Increased use of laser scanners across industries 4.3.2 Drivers 4.3.2.1 Growing need for precise measuring tools and equipment for inspections in semiconductor industry 4.3.2.2 Rise in demand for inspection of underground pipes for cracks and defects in oil & gas industry 4.3.2.3 Increasing applications of optical metrology in manufacturing and healthcare industries 4.3.2.4 Impact analysis of drivers on market forecast 4.3.3 Restraints 4.3.3.1 High equipment cost 4.3.3.2 Impact analysis of restraints on market forecast 4.3.4 Opportunities 4.3.4.1 Growing IIoT market to fuel demand for optical metrology 4.3.4.2 Use of AR, VR and MR in optical metrology 4.4 Porter's Five Forces Analysis Chapter 5. Global Market Size and Forecast 5.1 By Product 5.2 By Application 5.3 By Industry 5.4 By Region Chapter 6. North America Market Size and Forecast Chapter 7. Europe Market Size and Forecast Chapter 8. APAC Market Size and Forecast Chapter 9. LATAM Market Size and Forecast Chapter 10. MEA Market Size and Forecast Chapter 11. Competitive Landscape 11.1 Market Share Analysis of Key Players 11.2 Competitive Analysis of Key Players 11.2.1 Competitive Benchmarking of Major Players 11.3 Recent Activities of Major Players 11.4 Global Strategic Developments of Key Player 11.4.1 Mergers and Acquisitions 11.4.2 Product Launches 11.4.3 Partnerships 11.4.4 Geographic Expansions Chapter 12. Company Profiles

  • Nova Measuring Instruments Ltd.
  • Perceptron Inc.
  • Quality Vision International Inc.
  • S-T Industries Inc
  • Carl Zeiss Optotechnik GmbH
  • Hexagon Manufacturing Intelligence
  • KLA-Tencor Corporation
  • Micro-Vu
  • Mitutoyo Corporation
  • Creaform Inc.
  • FARO Technologies Inc
  • GOM GmbH

For more information about this report visit https://www.researchandmarkets.com/research/r...tical?w=12

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 Related Topics: Optical Sensors