Optical Measurement Global Market Report 2024

Description

“Optical Measurement Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on optical measurement market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for optical measurement? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The optical measurement market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

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 & Defense; Energy and Power; Electronics Manufacturing; Industrial; Medical; Other End Users
Companies Mentioned: Vision Engineering Limited; Nikon Corporation; Mitutoyo Corporation; Hexagon AB; Faro Business Technologies India Pvt. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Optical measurement is a non-contact, rapid, accurate, and reliable method. This approach has the capability to significantly reduce inspection time compared to traditional methods, enabling manufacturers across various industry verticals to optimize assembly costs and monitor critical dimensions of manufactured parts.

The primary types of optical measurement tools include autocollimators, measuring microscopes, profile projectors, optical digitizers and scanners, coordinate measuring machines (CMMs), and video measuring machines. Autocollimator optical measurements find application in automation, performing specific functions such as precision alignment, detection of angular movements, verification of angle standards, and long-term angular monitoring. Offerings in optical measurement include hardware, software, and services, catering to end-users in diverse industries such as automotive, aerospace and defense, energy and power, electronics manufacturing, industrial, medical, and others.

The optical measurement market research report is one of a series of new reports from The Business Research Company that provides optical measurement market statistics, including optical measurement industry global market size, regional shares, competitors with an optical measurement market share, detailed optical measurement market segments, market trends and opportunities, and any further data you may need to thrive in the optical measurement industry. This optical measurement market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The optical measurement market size has grown strongly in recent years. It will grow from $4. 25 billion in 2023 to $4. 58 billion in 2024 at a compound annual growth rate (CAGR) of 7. 7%. The growth observed in the historic period can be attributed to the growing demand for 3D metrology services, increasing adoption of advanced optical measurement solutions, rising spending on research and development, growing industrialization, and an increasing demand for quality control across various industries.

The optical measurement market size is expected to see strong growth in the next few years. It will grow to $6. 14 billion in 2028 at a compound annual growth rate (CAGR) of 7. 6%. The anticipated growth in the forecast period can be attributed to the continued emphasis on miniaturization in manufacturing, a rise in demand for non-contact measurement techniques, the expansion of applications in healthcare and life sciences, the increasing complexity of manufacturing processes, and a growing demand for non-contact measurement techniques. Key trends expected in the forecast period include the adoption of Industry 4. 0 and smart manufacturing, the integration of artificial intelligence in optical measurement, an increase in the use of hyperspectral imaging for material analysis, the emergence of portable and handheld optical measurement devices, and ongoing technological advancements.

The anticipated growth in the optical measurement market is expected to be propelled by the increasing prominence of the aerospace and defense industries. These industries encompass the production of aircraft, ships, spacecraft, weapon systems, and defense equipment. In particular, the utilization of precise optics in optical coatings for aerospace and defense machinery contributes to the heightened demand for the optical measurement market. For example, in 2021, India's defense budget for 2020-21 reached INR 4,71,378 crore (USD 67. 4 billion), marking a 9. 37% increase from the previous year, as reported by the Indian Brand Equity Foundation. This increase underscores the role of the aerospace and defense sectors in driving the optical measurement market.

The growth of the optical measurement market is also expected to be fueled by the increasing demand for smart electronic devices. These devices, characterized by their context-aware capabilities and independent computing, extensively incorporate optical measurement, especially through optical sensors. These sensors detect and convert incident light rays into electrical signals, enabling the measurement of various parameters based on the sensor type. As reported by Oberlo, the number of US households actively using smart home devices is estimated to reach 63. 43 million in 2023, reflecting a 10. 2% increase from 2022. This surge in demand for smart electronic devices contributes significantly to the projected growth of the optical measurement market.

A noteworthy trend in the optical measurement market is the emergence of new technological innovations. Leading companies in the market are introducing innovations to strengthen their market positions. For instance, in March 2021, Hexagon's Manufacturing Intelligence division unveiled a new coordinate measuring machine (CMM) designed to address the challenges of measuring delicate components like smartphone camera lens assemblies. This CMM enhances the efficiency of quality inspections, achieving results four to six times faster than conventional methods while maintaining sub-micron accuracy. The introduction of advanced technology and features facilitates accurate and efficient measurements of delicate components, minimizing the risk of damage during the inspection process.

Strategic partnerships have become a prominent strategy in the optical measurement market, allowing companies to broaden their offerings and capabilities. AIMS Metrology, an Ohio-based Original Equipment Manufacturer (OEM) and CMM supply company, formed a partnership with Optical Gaging Products (OGP) in September 2023 to advance measurement solutions. Through this collaboration, AIMS aims to integrate optical gaging products, including Smartscope E-Series, to provide multisensor measurement and address inspection challenges. Optical Gaging Products (OGP) specializes in precision multisensor metrology systems for industrial quality control.

In May 2021, MKS Instruments Inc., a US-based manufacturer of instruments, subsystems, and process control systems, completed the acquisition of Photon Control Inc. for $291. 44 million. This strategic move is geared towards expanding MKS Instruments Inc. 's portfolio of key technologies and enhancing critical etch and deposition applications in semiconductor wafer fabrication. Photon Control Inc., based in Canada, is recognized for manufacturing optical position and displacement sensors.

Major companies operating in the in the optical measurement market report are 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

North America was the largest region in the optical measurement market in 2023. Asia-Pacific is 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

The countries covered in the optical measurement market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The optical measurement market includes revenues earned by entities by providing services such as scene monitoring, scattering, absorption, and extinction. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10500

1. Executive Summary

2. Optical Measurement Market Characteristics

3. Optical Measurement Market Trends And Strategies

4. Optical Measurement Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Optical Measurement Market Size and Growth

5.1. Global Optical Measurement Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Optical Measurement Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Optical Measurement Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Optical Measurement Market Segmentation

6.1. Global Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hardware
Software
Services
6.2. Global Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Autocollimators
Measuring Microscopes
Profile Projectors
Optical Digitizers and Scanners
Coordinate Measuring Machines (CMMs)
Video Measuring Machines
6.3. Global Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Automotive
Aerospace & Defense
Energy and Power
Electronics Manufacturing
Industrial
Medical
Other End Users

7. Optical Measurement Market Regional And Country Analysis

7.1. Global Optical Measurement Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Optical Measurement Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Optical Measurement Market

8.1. Asia-Pacific Optical Measurement Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Optical Measurement Market

9.1. China Optical Measurement Market Overview
9.2. China Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Optical Measurement Market

10.1. India Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Optical Measurement Market

11.1. Japan Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Optical Measurement Market

12.1. Australia Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Optical Measurement Market

13.1. Indonesia Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Optical Measurement Market

14.1. South Korea Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Optical Measurement Market

15.1. Western Europe Optical Measurement Market Overview
15.2. Western Europe Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Optical Measurement Market

16.1. UK Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Optical Measurement Market

17.1. Germany Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Optical Measurement Market

18. 5. France Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Optical Measurement Market

19. 9. Italy Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Optical Measurement Market

20.13. Spain Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Optical Measurement Market

21.1. Eastern Europe Optical Measurement Market Overview
21.2. Eastern Europe Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Optical Measurement Market

22.1. Russia Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Optical Measurement Market

23.1. North America Optical Measurement Market Overview
23.2. North America Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Optical Measurement Market

24.1. USA Optical Measurement Market Overview
24.2. USA Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Optical Measurement Market

25.1. Canada Optical Measurement Market Overview
25.2. Canada Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Optical Measurement Market

26.1. South America Optical Measurement Market Overview
26.2. South America Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Optical Measurement Market

27.1. Brazil Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Optical Measurement Market

28.1. Middle East Optical Measurement Market Overview
28.2. Middle East Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Optical Measurement Market

29.1. Africa Optical Measurement Market Overview
29.2. Africa Optical Measurement Market, Segmentation By Offering, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Optical Measurement Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Optical Measurement Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Optical Measurement Market Competitive Landscape And Company Profiles

30.1. Optical Measurement Market Competitive Landscape
30.2. Optical Measurement Market Company Profiles
- 30.2.1. Vision Engineering Limited
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Nikon Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Mitutoyo Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. Hexagon AB
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. Faro Business Technologies India Pvt. Ltd.
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Optical Measurement Market Competitive Benchmarking

32. Global Optical Measurement Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Optical Measurement Market

34. Optical Measurement Market Future Outlook and Potential Analysis

34.1 Optical Measurement Market In 2028 - Countries Offering Most New Opportunities
34.2 Optical Measurement Market In 2028 - Segments Offering Most New Opportunities
34. 3 Optical Measurement Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer