The 3D metrology market is projected to grow at a CAGR of 8.86% over the forecast period to reach US$13.188 billion by 2022, from US$8.628 billion in 2017. 3D metrology solutions are used for the measurement of different components for the purpose of inspection and evaluation to meet the stringent industry standards and regulation ensuring the optimal performance of the product. Increasing focus on quality control, highly accurate inspection due to three-dimensional data for modelling and analysis and limitations of traditional measurement devices are the major factors propelling the growth of the 3D metrology market. Growing global concerns regarding the efficient use of energy is leading to the firms in the automotive and aerospace and defense industries to utilize lightweight materials in the production of vehicles and aircrafts that are required to be comprehensively tested, thus fueling the demand for 3D metrology solutions.
Rising demand for quality inspection coupled with increasing expenditure in Research and Development activities are driving the market growth.
There is a need for a product to meet its standard design specification and has to undergo through various checkpoints in order to satisfy customer demands. In case of a failure there is a possibility of problems arising from the preceding manufacturing processes. Therefore, a high-quality inspection becomes an indispensable tool for maintaining the high level of product quality desired by the customers. 3D metrology systems provide higher accuracy and precision along with lesser inspection time as compared to the conventional optical measurement systems.
Increasing use of 3D Metrology in various industries such as automotive, aerospace and defence, construction, and others is expected to drive the hardware segment.
Rising competitiveness has led to increasing number of enterprises competing fiercely for providing customers with quality goods in order to tap a higher share in the target market. To maintain the quality of the product a greater number of companies are adopting precision engineering solutions for faster product analysis and enhancing the ability to make quick and accurate changes if needed, which in turn is boosting the adoption of 3D metrology solutions.
Optical Digitizer and Scanner segment to grow at the highest CAGR over the forecast period.
The growing need for precise and accurate measurement is augmenting the demand for optical digitizers and scanners across the world. Reduced development cycle time coupled with the accuracy in the manufactured product has been a key driving factor for the growth of Optical Digitizer and Scanner market.
The rising use of Coordinate Measuring Machines (CMM) for the 3D measurement of the objects will drive the demand for these products over the forecast period. The increasing demand for better quality standards and the need for compliance with the strict industrial regulation guidelines for product development processes is an additional factor complementing for the demand for CMM products.
Automotive industry being one of the primary users of 3D Metrology accounted for the largest market share in 2019.
The automotive industry is dominating the market is projected to do so by the end of the forecast period on account of the ability of 3D metrology solutions to reduce the development cycle while the aerospace and defense industry is anticipated to grow at the highest CAGR during the forecast period.
The need for automotive manufacturers to meet the necessary compliance and regulations set by various governing bodies regarding design requirements and environment protection coupled with the rising competition among the manufacturers will significantly drive the automotive 3D Metrology market.
The healthcare industry has been witnessing an increasing adoption of 3D metrology solutions as It allows designing a significantly improved treatment package for the patients by giving more accurate scanning results. The number of people with health issues has been increasing globally. Cardiovascular disease is the major cause of death globally with an estimated 17.7 million deaths in 2015 (Source: World Health Organization). As a result, the demand for stents has been increasing globally with the rising cases of ophthalmic, orthopedic, and dental implants. Therefore, the medical device manufacturers are increasingly adopting 3D metrology solution to achieve the high precision required for the production of medical devices.
America holds the majority market share of more than 40% while the Asia Pacific is expected to grow with the highest CAGR over the forecast period.
North America accounted for the larger market share in 2016 owing to the early adoption of the technology by end-use sectors in developed economies such as the U.S. and Canada. Presence of some major market players in the U.S. and early adoption of advanced technologies across different end-use sectors is driving the demand for 3D metrology solutions in the region. Growing automotive industry in the U.S. and Mexico is further boosting the adoption of 3D metrology solutions and services in the region.
This high growth in the European 3D Metrology Market is majorly attributed to increased use of 3D metrology in aerospace and defense, and automotive industries. Growing demand for renewable energy is further increasing the investments, in turn, providing opportunities for 3D metrology solution vendors to tap this booming market.
Growing middle class population and expanding urbanization is boosting to the growth in different industry verticals such as consumer electronics, construction, and automotive in emerging APAC economies like China and India, thus positively impacting the demand for 3D metrology solutions in the region. Automobile production in countries such as China, India, Japan, and South Korea is significantly driving the demand for 3D metrology in the region. In India, automobile production rose from 2,40,16,068 in 2015 to 2,90,73,892 in 2017 as per the data provided by SIAM (Society of Indian Automobile Manufacturers). Growing construction activities in terms of infrastructural development supported by government initiatives is also attracting 3D metrology vendors to enter this lucrative regional market.
Competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of the report are Advantest Corporation, 3D Digital Corp, Creaform, Inc., Wenzel Prazision GmbH, and Zygo Corporation among others.
3D Metrology market has been segmented on the basis of solution component, product, industry vertical and geography.
By Solution Component
Optical Digitizer and Scanner
Coordinate Measuring Machine
Video Measuring Machine
By Industry Vertical
Aerospace and Defense
Energy and Power
Europe Middle East and Africa
Middle East and Africa