Optical Measurement Global Market Report 2024

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 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.


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