Acquisitions Like that of Perceptron Inc. by Atlas Copco to Drive the Global 3D Metrology Market

3D metrology consists of a range of scanning technologies used for quality control, optimization, and other manufacturing and production applications. One of the most effective forms of 3D metrology utilizes structured blue light to separate unwanted ambient lighting, and stereoscopic cameras to scan and measure parts precisely. Some common steps involved in a 3D scan are sensor positioning and measurement, evaluation, and reports & results. The reasons for high preference of 3D metrology are that they’re cheaper than the traditional measurement tools like coordinate measuring machines (CMMs), wide measurement coverage, and in-process inspection to measure parts during production.

Forecast Analysis:

Increasing product enhancements and strategic acquisitions by key market players are the major factors anticipated to drive the 3D metrology market growth during the forecast period. In addition, rapid use of 3D in modelling and analytical applications in aerospace and defense, heavy machinery, automotive, electronics, medical, and other industries is projected to offer ample market growth opportunities. Moreover, advancements in data-gathering sensor technology along with improved inspection and measurement software solutions is expected to further bolster the 3D metrology market growth by 2028. However, high costs associated with the 3D metrology is the main factor to hinder the market growth.

Regionally, the North America 3D metrology market is estimated to have the largest share and register a revenue of $2,356.7 million by 2028 million in the 2021-2028 timeframe due to vast technological advances and automation in the manufacturing sectors. In addition, the existence of prominent automotive, pharmaceutical, and aerospace equipment manufacturers is yet another factor predicted to accelerate the market growth in the North America region during the analysis years.  

According to the report published by Research Dive, the global 3D metrology market is expected to surpass $6,647.9 million and grow at 7.8% CAGR in the 2021–2028 timeframe. Some prominent market players include ZEISS Group, 3D Systems, Inc., FARO Technologies, KLA Corp., KEYENCE Corp., Nikon Corp., Hexagon, Perceptron, Renishaw, Jenoptik, Mitutoyo Corp., and many others.

Covid-19 Impact on the Market:

The onset of the coronavirus has had an adverse impact on the global 3D metrology market due to strict travel bans and lockdowns imposed by governments across the world. This posed great difficulties for the electronic device raw material manufacturers that were dispersed from China. In addition, cargo movement restrictions led to supply chain disruptions and fluctuations in raw materials’ prices. Moreover, delayed manufacturing processes and negative impact on CMM manufacturing units in countries like India, Japan, China, and the United States led to declined demand for 3D metrology in modelling and analytical applications in industries like aerospace, medical, electronics, etc. These factors are projected to hamper the 3D metrology market growth during the pandemic.

Prominent Market Developments:

The prominent organizations operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, thus helping the 3D metrology market to flourish. For instance:

In December 2020, Vivo, a leading smartphone player, announced its partnership with Zeiss, an internationally leading technology enterprise, to develop breakthrough mobile imaging technology to allow professional-grade photography experience. This strategic collaboration utilized Vivo’s expertise in manufacturing flawless smartphone cameras and Zeiss’s distinctive imaging prowess.

In September 2020, Perceptron Inc., a renowned 3D automated metrology solutions provider, announced its acquisition by Atlas Copco, a leading provider of feasible productivity solutions. The acquisition was aimed to leverage Perceptron’s technology and benefit its global customers with Atlas Copco’s leadership position across wide-ranged industrial sectors and its significant existence in the machine vision space.

In May 2021, API, a leader in laser tracker technology, announced its collaboration with Mitutoyo Corp., a multinational innovative precision measurement solutions provider, to distribute its portable dimensional metrology equipment throughout the latter’s global client network and level up its brand name besides reducing production times and enhancing portable measurement hardware and software.