The Global 3D Metrology Market to Grow at a CAGR of 7 Percent: A Technavio Report
By apacciooutlook | Thursday, May 09, 2019
FREMONT, CA: Technavio’s latest report on global 3D metrology system foresees the market to grow at a CAGR of more than 7 percent by 2020. The prominent metrology systems include CMM (coordinate measuring machines), ODS (optical digitizers and scanners), VMM (vision measuring machines). The co-ordinate measuring machine (CMM) accounted for 67 percent of the total market share in 2015.
The growth of 3D printing market has increased the need of 3D measuring objects. CMMs are most commonly used machine by several end-users. It provides dimensional accuracy and enhances the quality of a product to meet the international standards such as ISO-9000, QS-9000, and Six Sigma.
The demand for improved products has commercialized the use of CMMs across manufacturing units. CMMs help to increase the reliability of a product creating a higher demand of 3D metrology systems. The improved quality has boosted the demand of CMM bridge machines in the aerospace, defence, and automotive industries. The use of horizontal arm machines in railways, aircraft construction, and shipbuilding sectors have enhanced the market growth of metrology systems.
The technological advancements in CMMs have improved the dimensional accuracy of a product. The CMMs integrated with sensors is one of the major trends that will affect the market growth in the forecast period. The innovations in CMMs have encouraged the vendors to invest more on R&D to develop and introduce advanced metrology equipment.
The report also found that U.S. will account for 37 percent of the market share by 2020 and the rise of metrology systems will continue in the forecast period. The constant growth of the automotive industry due to the presence of several manufacturing units and the growth of the aerospace sector will further help in the development of the market in this region.