High Demand for 3D Metrology Systems to Emerge from APAC Due to Increased Production of Automobiles, Reports Technavio

LONDON--()--The global 3D metrology systems market is expected to grow at a CAGR of more than 7% during the forecast period, according to Technavio’s latest report.

In this report, Technavio covers the market outlook and growth prospects of the global 3D metrology systems market for 2016-2020. To calculate the market size, the report covers the revenue generated from the sales of CMMs, ODSs, and VMMs worldwide.

Coordinate measuring machines (CMM) is the potential revenue generating segment in the global 3D metrology systems market and will be the major revenue contributing segment during the forecast period. The segment held a market share of approximately 67% in 2015. CMM is further segmented into four sub-segments: bridge machines, articulated arm machines, horizontal arm machines, and gantry machines.

Bridge machines led the CMM market in 2015 with increasing demand emerging from industries such as aerospace and defense and automotive. “Their ability to provide highly accurate measurement has led to wide adoption of bridge machines across a number of industries. The major applications where bridge machines are used, are machine and press parts, plastic molding, casting and forging, touch trigger, non-contact inspection, digitizing, scanning, and reverse engineering,” says Sunil Kumar Singh, a lead analyst at Technavio for research on embedded systems.

Technavio’s research study segments the global 3D metrology systems market into the following regions:

  • Americas
  • EMEA
  • APAC

Americas: largest 3D metrology systems market

In 2015, the Americas occupied the highest market share in the global 3D metrology systems market, accounting for 35.86% of the market share, owing to an increase in the use of CMMs and ODSs in the automotive and aerospace industries. The region will retain its position as the major revenue contributor during the forecast period.

The US is the largest revenue contributor in the 3D metrology systems market in the Americas. The steady growth of the automotive industry has contributed to the growth of the market in the US. The presence of automobile manufacturing companies such as Ford, GM, and Chrysler Group has contributed to the increase in the demand for 3D metrology systems.

The aerospace industry in the Americas accounts for the largest share in the global aerospace industry, and the US is the largest revenue contributor. The increase in the growth of the aerospace industry in the Americas has led to a wide adoption of 3D metrology systems in this region.

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3D metrology systems market in EMEA

The 3D metrology systems market in EMEA will grow at a CAGR of 5.86% during the forecast period. One of the key factors contributing to the market growth is the significant presence of automotive industry in this region. Western European countries such as Germany, Spain, the UK, and France are the major revenue contributors in the market in Europe. These countries are among the top ten motor vehicle-manufacturing countries worldwide. The increased production of automobiles in these countries has led to the huge adoption of 3D metrology systems in the production plants. Thus, the increased growth of the automotive industry has contributed to the increase in demand for the metrology systems in these countries. The 3D metrology systems market in Europe are also seeing an increased demand from Eastern European countries such as Poland, Russia, Slovakia, and the Czech Republic.

3D metrology systems market in APAC

“The 3D metrology systems market in APAC will grow at a CAGR of more than 8% during the forecast period. Although the market is dominated by the Americas in terms of revenue, APAC will lead the 3D metrology systems market in terms of growth rate during the forecast period,” says Sunil.

China, Japan, South Korea, India, and Thailand are the major revenue contributors in the market. China accounted for the largest share of the market in 2015 and will continue to dominate the market during the forecast period. The increased production of automobiles in APAC has led to increased demand for 3D metrology systems. In 2015, China held the largest share in the global automobile production with a share of about 25%. China, South Korea, Japan, and India together accounted for about 45% of the global automobile production in 2015. The growth of the market in APAC is mainly driven by these countries.

The top vendors in the global 3D metrology systems market highlighted in the report are:

  • Carl Zeiss
  • Faro Technologies
  • Hexagon Manufacturing Intelligence
  • Mitutoyo

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

The global 3D metrology systems market is expected to grow at a CAGR of more than 7% during the forecast period, according to Technavio’s latest report.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com