DUBLIN--(BUSINESS WIRE)--The "Global Optical Coordinate Measuring Machine Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The global optical coordinate measuring machine market was valued at USD 617.27 million in 2019, and it is projected to be worth USD 627.08 billion by 2025, registering a CAGR of 1.85% during the period of 2020-2025.
Companies Mentioned
- OGP (Quality Vision International Inc)
- Werth Messtechnik GmbH
- Micro Vu
- Nikon Metrology NV
- Mitutoyo Corporation
- Carl Zeiss AG
Key Market Trends
Changing Product Designs and Growing Investments in Industry 4.0
- Most of the global automotive, aerospace and semiconductor and medical device manufacturers are deploying modern reverse engineering to drive business value throughout the design, manufacture, and maintenance of their products. The high rate of product design changes in these industries is also bringing continuous changes in the production line. As the production changes, the quality standards need to keep pace, fuelling the adoption of advance CMMs.
- With Industry 4.0 practices integrating all areas of manufacturing to enhance the efficiency of production processes, optical and laser scanning is a key component in its implementation. In the production environment, multi-sensors help obtain a rapid insight into deviations, a significant benefit of high-speed digital data capture. With the support of high precision and reliable CMMs, manufacturers are making them ready for Industry 4.0.
- In September 2020, the US Government announced USD 1 billion investment in researching Industry 4.0 technologies. The DoE is providing up to USD 625 million over five years to five QIS Research Centers. These five QIS hubs will mainly focus on areas, including quantum networking, sensing, computing, and materials manufacturing, and receive USD 300 million from the private sector and academia.
Asia-Pacific to Witness a Significant Growth Rate Over the Forecast Period
- China is touted to be the most lucrative market, due to substantial dominance in the global manufacturing sector, including the manufacturing of products of the studied market. According to data published by the United Nations Statistics Division, China accounted for 28% of global manufacturing output in 2018. The recent COVID-19 outbreak affected the country's manufacturing initially, but the country has been successful in regaining its sector's strength.
- The demand for inline metrology solutions is also growing rapidly in the Asia-Pacific region owing to the high economic growth witnessed by major countries, such as China and India. The region has a strong presence of several automobile and electronics manufacturing plants wherein inline metrology systems are increasingly being adopted for quality control inspections.
- Asia-pacific region also dominates the semiconductor and electronics industry worldwide driven by the extensive manufacture base in China, Japan, South Korea, Taiwan, and lastly, India. The regional dominance in global semiconductor manufacturing has not only helped the region to hold a strong presence in global electronic manufacturing but also in the manufacturing of CMM and technologies like sensors.
- The India-based startup, Lincode Labs, is utilizing AI and Industrial IoT solutions to increase the profitability of manufacturers. The company helps manufacturers automate visual inspection and improve overall equipment effectiveness (OEE) by identifying product defects using computer vision and artificial intelligence with deep learning.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of COVID-19 on the Optical CMM Market
4.4 Evolution of the CMM Industry
4.5 Market Drivers
4.5.1 Changing Product Designs and Growing Investments in Industry 4.0
4.5.2 Adoption of In-line Solutions and Technological Advancements
4.6 Market Challenges
4.6.1 Slower Replacement Rates And Rising Number of Substitute Technologies
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Multi-sensor
5.1.2 2D Vision Measurement Machine
5.1.3 3D Vision Measurement Machine
5.2 End User
5.2.1 Aerospace and Defense
5.2.2 Automotive
5.2.3 Heavy Machinery and Metal Fabrication
5.2.4 Other End-user Industries
5.3 Machine Type
5.3.1 Articulated
5.3.2 Bridge
5.3.3 Other Machine Types
5.4 Geography
5.4.1 Northern American Free Trade Agreement
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 ANALYSIS OF TOP 10 MULTI SENSOR PRODUCT OFFERINGS
8 VENDOR MARKET POSITIONING ANALYSIS
9 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/rv5ecv
