Boston, MA -- (SBWIRE) -- 07/18/2016 -- 3D Metrology Market by Offering (Product, Software, Service), Product (CMM, VMM, ODS), Application, End-User Industry and Geography - Global Forecast to 2022

The 3D metrology market is expected to reach USD 10.90 billion by 2022, at a CAGR of 7.0% between 2016 and 2022. The 3D metrology market is growing rapidly and it is now focusing on quality control and need to capture large volumes of three-dimensional data for modelling and analysis. This data is shared with production scheduling, design, purchasing, and many other manufacturing company functions to ensure the accuracy of manufactured products. Other drivers of the 3D metrology market include increasing focus on quality control and inability of traditional measurement devices to address many manufacturing issues.

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"3D METROLOGY MARKET FOR AUTOMOTIVE INDUSTRY HELD THE LARGEST SHARE DURING THE FORECAST PERIOD"

Automotive industry is expected to grow at the highest rate in the 3D metrology market. 3D metrology is required in the automobile industry for inspection, measurement, and quality checking for various components. The automotive industry has been increasingly using optical measurement systems and coordinate measuring machines, instead of conventional measurement devices for improving the safety and comfort level of vehicle.

"3D METROLOGY MARKET IN THE APAC IS EXPECTED TO WITNESS HIGHEST GROWTH DURING THE FORECAST PERIOD"

Asia-pacific continues to grow at the highest rate which can be attributed to the high economic growth witnessed by the major countries such as China and India in the region. China is one the major manufacturing hub which holds an immense potential for 3D metrology products. OEMs are continuously looking to improve production in automotive manufacturing through quality checks which is expected to drive the market in China.

The break-up of the profile of primary participants is given below:

-By Company Type: Tier 1 - 30%, Tier 2 - 45%, and Tier 3 - 25%
-By Designation: C-Level Executives - 35%, Directors - 45%, Others - 20%
-By Region: North America - 40%, Europe - 35%, APAC - 20%, RoW - 10%

The major players in the 3D metrology market include Hexagon AB (Sweden), Carl Zeiss AG (Germany), FARO Technologies, Inc. (U.S.), Mitutoyo Corporation (Japan), Nikon Corporation (Japan), GE Measurement and Control Solutions Inc. (U.S.), GOM mbH (Germany), Perceptron Inc. (U.S.), Renishaw PLC (U.K.), Zygo Corporation (U.S.), Advantest Corporation (Japan), Wenzel Prazision GmbH (Germany), 3D Digital Corp (U.S.), and Creaform Inc.(Canada).

The report would help the market leaders/new entrants in this market in the following ways:

1. This report segments the 3D metrology market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different verticals and regions.

2. The report would help stakeholders to understand the pulse of the market by providing information on the key market drivers, restraints, challenges, and opportunities.

3. This report would help stakeholders to understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.

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