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Optical measurement market to reach USD 5.14 billion by 2023

The optical measurement market is expected to reach USD 5.14 Billion by 2023 from USD 3.68 Billion in 2018, at a CAGR of 6.87% between 2018 and 2023.

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Factors such as the growing demand for 3D metrology services, adoption of advanced optical measurement solutions, and increasing in R&D spending are driving the growth of the optical measurement market.

Key Target Audience

  • Original equipment manufacturers (OEMs) (application or electronic product manufacturers)
  • ODM and OEM technology solution providers
  • Small and large technology centers
  • Laser tracker manufacturing companies
  • Research institutes and organizations
  • Market research and consulting firms
  • Companies providing solutions in various industries that use laser trackers
  • Government bodies, venture capitalists, and private equity firms

The optical measurement market in APAC is expected to grow at the highest CAGR.

The wide-scale adoption of optical measurement technologies for industrial applications is the key factor supporting the growth of the market in this region. The increasing adoption of precision measurement advanced technology by manufacturers with a focus on accuracy and reliability of manufactured products is further expected to propel the growth of the optical measurement market in this region.

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The optical measurement market has been segmented based on equipment, such as autocollimators, measuring microscopes, profile projectors, coordinate measuring machines (CMMs), optical digitizers and scanners (ODSs), and video measuring machines (VMMs). CMM held the largest market share, and this trend is expected to continue till 2023.

Owing to the ability of CMM to easily measure large objects because of its inherent structure, CMM has a higher demand than bridge and cantilever in industries.

Premium Insights

1 Attractive Growth Opportunities in the Optical Measurement Market

2 Optical Measurement Market, By Offering

3 Optical Measurement Market, By Industry

4 Optical Measurement Market: Automotive and Aerospace & Defense Industries (2018)

5 Optical Measurement Market, By Country

Competitive Landscape

1 Introduction

2 Market Ranking Analysis

3 Competitive Scenario

4 Competitive Situations and Trends

5 Product Launches

6 Partnerships and Agreements

7 Acquisitions and Collaborations

Optical measuring systems are required in the automotive industry for inspection, measurement, and quality checking of various components. The automotive industry has been increasingly using optical measurement solutions for improving safety and comfort level in vehicles.

These factors have contributed to the increased adoption of optical measurement in the automotive vertical.

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This report covers the optical measurement market in North America, Europe, APAC, and RoW. The optical measurement market in APAC is expected to grow at the highest CAGR between 2018 and 2023.

The growth of the optical measurement market in APAC can be attributed to the increasing adoption of precision measurement advanced technology by manufacturers with a focus on accuracy and reliability of the manufactured products in APAC.

The report examines:

  • Major drivers, restraints, challenges, and opportunities for the growth of the optical measurement market have been analyzed in this report.
  • Illustrative segmentation, analysis, and forecast by offering, equipment, vertical, and geography have been performed to provide an overall view of the optical measurement market.
  • This report will help stakeholders better understand their competitors and gain insights on ways to improve their position in the business. The competitive landscape section includes competitor ecosystem, product launches, and mergers & acquisitions.

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