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How Has the Optical Measurement Market Size Shifted in Recent Years?
The market for optical measurement has experienced significant expansion recently. The market value is predicted to rise from $4.5 billion in 2024 to $4.81 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.8%.
This growth observed in the previous years can be tracked back to the increasing demand for 3D metrology services, a rise in adoption of high-tech optical measurement solutions, increment in R&D expenditure, burgeoning industrialization, and escalating demand for quality assurance across different industry sectors.
Significant expansion is anticipated in the optical measurement market size in the coming years, with projections reaching $6.46 billion by 2029, reflecting a compound annual growth rate (CAGR) of 7.6%. The predicted growth during the forecast period is due to factors such as the persistent focus on miniaturization in manufacturing, a surge in the preference for non-contact measurement techniques, and an enlargement of use cases in healthcare and life sciences.
It is also fueled by the increasing intricacy of manufacturing procedures and the ascending demand for non-contact measurement methodologies. The forecast period is expected to see major trends including embracing industry 4.0 and smart manufacturing, incorporating artificial intelligence in optical measurement, a surge in hyperspectral imaging application for material analysis, the emergence of portable and handheld optical measurement instruments, and technological advancements.
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Which Market Conditions Are Fueling the Growth of the Optical Measurement Industry?
The upward trajectory of the aerospace and defense industries is anticipated to substantially boost the progress of the optical measurement market. The said industries encompass businesses engrossed in the construction of aircraft, ships, spacecraft, defense gears, and weapon systems.
Optical coatings, which are vital for precision optics, are extensively utilized in aerospace and defense apparatus.
Consequently, this surge in the aerospace and defense sectors enhances the need for the optical measurement market.
For example, Airbus SE, a Netherlands-based aerospace entity, stated in January 2023 that the firm delivered 661 commercial aircraft to 84 clients in 2022. This demonstrated an escalation of 8% from the 611 units dispatched in 2021.
Thus, the expanding aerospace and defense industries are fueling the advancement of the optical measurement market.
Performance of Leading Segments in the Optical Measurement Global Market
The optical measurement market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Component: Autocollimators, Measuring Microscopes, Profile Projectors, Optical Digitizers And Scanners, Coordinate Measuring Machines (CMMs), Video Measuring Machines
3) By End-User: Automotive, Aerospace And Defense, Energy And Power, Electronics Manufacturing, Industrial, Medical, Other End Users
Subsegments:
1) By Hardware: Optical Sensors, Laser Systems, Imaging Systems, Measurement Instruments, Accessories
2) By Software: Data Analysis Software, Visualization Software, Calibration Software, Control And Automation Software, Application-Specific Software
3) By Services: Installation Services, Maintenance And Support Services, Calibration Services, Consulting Services, Training And Education Services
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What Trends Will Shape the Evolution of the Optical Measurement Market?
The primary players in the optical measurement market are joining forces through strategic alliances to enhance their service offerings. Such partnerships allow companies to utilize the strength and resources of one another for mutual gain and prosperity.
For example, AIMS Metrology (Advanced Industrial Measurement Systems), an Original Equipment Manufacturer (OEM) and a CMM supply company from Ohio, formed a partnership with Optical Gaging Products (OGP) in September 2023 to progress measurement solutions. This collaboration will enable AIMS to provide multisensor measurement using optical gaging products, including the Smartscope E-Series and other cutting-edge technologies, to address inspection challenges.
Optical Gaging Products (OGP), based in the US, provides precision multisensor metrology systems for industrial quality control.
What Are the Regional Hotspots for Optical Measurement Market Growth?
North Americawas the largest region in the optical measurement market in 2024.Asia-Pacificis expected to be the fastest-growing region in the forecast period. The regions covered in the optical measurement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Which Companies Hold the Largest Market Share in the Optical Measurement Industry?
Major companies operating in the optical measurement market include Vision Engineering Limited, Nikon Corporation, Mitutoyo Corporation, Hexagon AB, Faro Business Technologies India Pvt. Ltd., Jenoptik AG, Carl Zeiss AG, GOM & Company, Keysight Technologies Inc., R&D Vision, Ametwk Inc., Olympus Corporation, Quality Vision International Pvt.
Ltd., Nova Measuring Instruments Ltd., Steinbichler Optotechnik GmbH, Nanometrics Incorporated, Breuckmann GmbH, Perceptron Inc., ST Industries Inc., Creaform Inc., Third Dimension Private Limited, Keyence Corporation, Accretech Finance Co. Ltd., Zygo Corporation, KLA-Tencor Corporation, Renishaw plc, Alicona Imaging GmbH, Bruker Corporation, CyberOptics Corporation, Avantes BV
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