PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532851
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1532851
Shape Measuring Devices Market size was valued at USD 1,425.3 Million in 2023, expanding at a CAGR of 4.8% from 2024 to 2032.
Shape measurement reveals minor surface faults and irregularities, such as burrs and scratches, as well as markings on product surfaces. A shape-measuring device is an optical measuring instrument with a projection unit that employs the light section method. It is set to project a predefined pattern, such as slit light, onto the object to be measured. The shape measurement device provides a true definition of the thing under inquiry.
Shape Measuring Devices Market- Market Dynamics
The increasing construction sector is driving the demand for high-tech products
Green construction employs environmentally friendly building materials and processes to create energy-efficient structures that have no detrimental impact on the environment. The usage of environmentally friendly technologies has increased, demonstrating the industry's technological advancements. Thus, the growing construction sector and the need for improved technologies to reduce completion times and achieve higher accuracy are expected to increase demand for form measuring devices for new-age buildings, boosting market growth in the region. For instance, in November 2022, Ametek purchased Navitar, Inc., a developer of advanced optical components and solutions, as well as RTDS Technologies Inc., a real-time power simulation system manufacturer. Ametek will use Navistar's optical solutions skills and RTDS Technologies as part of this acquisition to expand its highly efficient precision optics services as well as power test and measurement solutions.
Shape Measuring Devices Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.8% over the forecast period (2024-2032)
Based on Type segmentation, optical was predicted to show maximum market share in the year 2023
Based on Sales Channel segmentation, The online sector generated a large share of the form measurement devices market's revenue.
Based on region, Asia Pacific was the leading revenue generator in 2023
The Global Shape Measuring Devices Market is segmented based on Type, Sales Channel, Application, and Region.
The market is divided into three categories based on Type: Optical, 3D And Others. In 2023, the optical segment led the shape-measuring devices market, accounting for the majority of revenue. This is because these instruments measure using optical principles. The vast bulk of optical measurement equipment is based on the triangulation principle. Triangulation establishes the position of an object by measuring the angle between a laser beam and a reference line pointing at the thing being measured, expanding their use in many industries and assisting segment expansion over the projected era.
The market is divided into two categories based on Sales Channels: In-store and online. In 2023, the online sector accounted for a significant portion of the shape measurement devices market's revenue. This is because an online store is a virtual store that sells products and services online without the requirement for a physical location. These online marketplaces are popular for purchasing form measuring equipment due to their widespread availability and great discounts and bargains. Furthermore, thanks to the extensive usage of the internet, online shopping is becoming a popular trend.
Shape Measuring Devices Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. In 2023, the Asia Pacific region had the biggest revenue share in the market for form measurement devices. The region's booming automotive and aerospace industries are likely to drive up demand for form measurement devices. The Asia-Pacific region is expected to grow rapidly throughout the projected period, owing mostly to increased demand for optical coordinate measuring devices in emerging markets.
The North American market for shape-measuring devices is expanding rapidly due to technical advances, increased acceptance of 3D scanning technologies, and the presence of prominent competitors in the region. Countries such as the United States and Canada are experiencing an increase in demand for form-measuring equipment in a variety of industries, including automotive, aerospace, healthcare, and manufacturing. The expansion of the shape-measuring devices market in North America is being driven by a focus on quality control, precise measurement, and industrial automation.
The Shape Measuring Devices Market is highly competitive, with top competitors including Alicona Imaging GmbH (Bruker Corporation), Ametek, Inc., Horiba Ltd., and Obishi Keiki Seisakusho Co., Ltd. These companies are at the forefront of inventing revolutionary form-measuring devices in response to the growing need for precision measurement solutions across a variety of industries. Competition in the market is fierce, with competitors concentrating on R&D to improve the accuracy, speed, and versatility of their form measurement devices.
In January 2023 Bruker purchased Acquifer Imaging GmbH, a provider of big-data management solutions for bioimaging and high-content microscopy. Acquifier's on-premise processing, secure storage, and networking technologies would help Bruker develop fluorescence microscopy imaging solutions, such as light-sheet and super-resolution microscopy products, allowing users to produce high-quality content.
GLOBAL SHAPE MEASURING DEVICES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Alicona Imaging GmbH (Bruker Corporation)
Ametek, Inc.
Horiba Ltd.
Obishi Keiki Seisakusho Co., Ltd.
Alpa Metrology S.r.l.
QPT Innovative Technik Handels GmbH
Microtrac Retsch GmbH (Verder Scientific GmbH & Co. KG)
SmartVision S.r.l
Clemex Technologies Inc.
Scantron Industrial Products Ltd
Others