Global 3D Metrology Market by Offering (Software, Hardware, and Services), Products (Coordinate Measuring Machine (CMM), Optical Digitizer & Scanner (ODS), Video Measuring Machine (VMM), and 3D Automated Optical Inspection (AOI) System), Application (Quality Control & Inspection, Reverse Engineering, Virtual Simulation, and Others), End-use (Aerospace, Automotive, Medical, Construction & Engineering, Heavy Machinery, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

3D Metrology Market Analysis

The global 3D metrology market is anticipated to garner $6,647.9 million in the 2021–2028 timeframe, growing from $ 3,711.1 million in 2020, at a healthy CAGR 7.8%.

Market Synopsis

The 3D metrology market is expected to grow due to product advancements, acquisitions, and business expansion by key market players and also the market positioning of companies in an industry using their growth and innovation scores as highlighted to increase the adoption of 3D Metrology for various applications.

The main impediment is high cost associated with the 3D metrology.

According to the regional analysis of the market, the Asia Pacific 3D metrology market is anticipated to grow at a CAGR of 9.4%, by generating a revenue of $1,716.5 million during the review period.

3D Metrology Overview

3D metrology is becoming an essential component of any quality control, optimization, and cost-effective process, particularly in manufacturing. The scientific study of physical measurements is known as 3D metrology. Precision measurement of tools, fixtures, and machine components is included in the context of manufacturing. It is used to measure length, distance, and height (three axes x, y, and z) by acquiring geometric surface points of an object, which provides infinitely more data than traditional measurement methods. These measurements are frequently obtained using a coordinate measuring machine (CMM). Moreover, the increasing global R&D spending on launching and developing new metrology products and solutions provides measurement companies with new business opportunities.

COVID-19 Impact on 3D Metrology Market

The ongoing COVID-19 has had a negative impact on the global 3D metrology market. This is because the majority of electronic device raw material manufacturers were dispersed throughout China. Furthermore, travel and cargo movement restrictions imposed by a number of countries have caused supply chain disruptions and fluctuations in raw material prices. Furthermore, the imposition of lockdown on manufacturing processes across major industries is expected to stymie global 3D metrology market growth. The COVID-19 pandemic has had a significant impact on the CMM value chain. The pandemic has had a negative impact on the United States, China, India, and Japan, which account for a sizable share of global CMM manufacturing. The energy and power industries, as well as the aerospace industry, are experiencing low demand, which is expected to continue in the short term due to the global slowdown.

3D Data Increasingly being Used in Modelling and Analytical Applications Projected to Drive the Market Growth

Rapid industrial development drives the need for advanced testing technologies and instruments to conduct R&D and manufacture a large number of complex mechanical parts used in precision machinery, numerical machine control tools, auto parts, aerospace equipment, and other applications. CMMs are precision instruments that are widely used to inspect and measure complex mechanical parts in three dimensions: length, width, and height. Aerospace and defense, automotive, heavy machinery, medical, electronics, and energy & power are just a few of the industries that use 3D modelling. These intelligent models constructed from 3D objects collect data points with metrology 3D scanners or CMMs, which are then used for modelling. The manage data measured by CMM, which is changed into measurement data such as position, diameter, distance, angle, is important in the manufacturing industry as this data directly impacts product quality and performance. Because of advancements in data-gathering sensor technology and improved measurement and inspection software solutions, 3D metrology has become a viable and cost-effective method. At the moment, 3D scanners are used in conjunction with CMMs. Dimensional metrology solutions such as 3D laser scanners, white-light scanners, and laser trackers are widely used for faster and higher-precision results. All of these technologies have made data collection easier and faster, resulting in precise product measurements. Small laser trackers can precisely measure large objects, which have applications in the automotive, aerospace, and heavy machinery industries.

To know more about global 3D metrology market drivers, get in touch with our analysts here.

The Design Complexity and High Cost Associated with the Manufacturing of the Metrology Products are Main Restraining Factors for The Market

Manufacturers are constantly faced with both design and cost challenges of 3D metrology products in order to meet the evolving needs of end-users. These are some factors that can hinder the growth of the market.

Rise In Demand from the End-use Industry for Solutions to Minimize the Inspection Delay in Production Process to Create Growth Opportunities

The aviation and automotive industries are experiencing robust growth, also the speedy industrialization and urbanization worldwide act as key driving forces for the 3D metrology market growth. There has been a growing acceptance of 3D testing and 3D metrology in the manufacturing industry to gain detailed information and run full-field evaluations market share. Nonetheless, increasing applications of 3D metrology in industrial activities such as assembly inspection, quality checks, and measurement of various tools, sheet metal parts, plastic, and castings would support market growth over the review period. For instance, Hexagon, a specializing in hardware and software digital reality solution, announced in February 2020, that its Manufacturing Intelligence division had launched a new product Captura, an entry-level optical CMM that offers intuitive and cost-effective solutions for the multisensor measurement of small to medium parts. The automotive industry's ongoing digital transformation, as well as the distribution of electric and hybrid electric vehicles, is hastening the retrofitting of devices and equipment embedded with various test and measurement equipment. Some of the major end-use applications that require advanced automated test and measuring equipment to meet modern testing requirements are data centers, advanced telecom infrastructure, and automotive. Because data centers use a variety of complex electronics devices, a large number of test and measurement equipment is used to monitor device condition, calibration service, and data transmission condition. The demand for the 3D metrology is increasing from different industries which is creating opportunities of the growth.

To know more about global 3D metrology market opportunities, get in touch with our analysts here.

Products: Research Dive Analysis

The hardware sub-segment is anticipated to have a dominant market share and generate a revenue of $2,582.0 million by 2028, growing from $1,478.6 million in 2020. Hardware services in a variety of industries, including aerospace, automotive, medical, and archaeological architecture, aid in the improvement of manufacturing processes. In addition, the use of hardware such as vision systems, CMMs, laser trackers, and structured-light scanners aids in the quality and measurement inspection process. These factors are expected to boost 3D metrology market growth.

The software sub-segment is anticipated to have the fastest growth and generate a revenue of $2,402.9 million by 2028, growing from $1,300.4 million in 2020, with the healthy CAGR of 8.2%. The growth can be attributed to features such as data accumulation and measurement across multiple sources. It also offers self-explanatory and comprehensive textual and graphical reports that can be used to evaluate real-time deviation and identify production trends. In addition, the use of CAD/CAM tools for design purposes necessitates the use of tooling, sheet metal, and production engineering. These factors are expected to drive global demand for 3D metrology software.

Products: Research Dive Analysis

The coordinate measuring machine (CMM) sub-segment of the global 3D metrology market is anticipated to have a dominant market share and surpass $2,495.7 million by 2028, with an increase from $1,467.0 million in 2020. CMMs are traditional metrology tools used for quality inspection in a variety of industry verticals. These types of product costs are very low in comparison to other metrology equipment. In this competitive market, end-users require advanced metrology services to reduce errors and improve product quality and lifecycle. As a result, dimensional measuring techniques are becoming more refined. Furthermore, end-user industries such as automotive and aerospace require stringent quality inspections and have incorporated dimensional metrology equipment as a key enabler for increased productivity.

The optical digitizer & scanner (ODS) sub-segment of the global 3D metrology market is anticipated to have the fastest growth and surpass $1,735.0 million by 2028, with an increase from $924.3 million in 2020, with highest CAGR of 8.4%. Non-contact metrology systems that use a scanning technique based on white light or a laser are known as optical scanners and digitizers. They use software to obtain an object's coordinate points and reconstruct them into an image. Inspection, reverse engineering, and dimensional measurements are the most common uses of optical scanners and digitizers. These devices have higher accuracy and reliability when measuring complex and difficult-to-reach features. The global optical digitizer & scanner market is being driven by advancements in probe technology, accuracy, integration methods, and software in the manufacturing of high-tech optical digitizers and scanners. Forensics, heritage restoration, law & investigation, medical, 3D printing, and 3D surveying are some of the emerging applications of the optical digitizer, and the market is benefiting from the growing application area of the optical digitizer.

Products: Research Dive Analysis

The quality control & inspection sub-segment of the global 3D metrology market is anticipated to have a dominant market share and surpass $2,565.9 million by 2028, with an increase from $1,477.2 million in 2020. The goal of quality control is to measure the dimensions of manufactured parts to ensure that they meet quality standards. It is a necessary but difficult task for manufacturers during the manufacturing process. When it comes to maintaining the quality of precision machinery parts, quality inspection is extremely important. Quality control is an essential step in the manufacturing process. Coordinate measurement machines (CMMs) have been used for decades in operations that require greater precision. The demand for the 3D metrology is increasing day by day across the globe due to the accuracy of a 3D scanners for small parts, and also some industries require greater precision such as aerospace. With this level of accuracy and repeatability, 3D scanning is viable in the majority of situations. Only a few examples include injection moulding, machined components, and metal or plastic extrusion.

The virtual simulation sub-segment of the global 3D metrology market is anticipated to have the fastest growth and surpass $1,363.1 million by 2028, with an increase from $705.3 million in 2020, with the CAGR 8.8%. The demand for the virtual simulation is increasing due to the use of the 3D virtual simulation in different fields such as in smart tech to compute the required sensor positions for all inspection characteristics and CAD surfaces. Additionally, it also helps in fast automated measurement and many others are application. Thus, the demand for the virtual simulation will grow in future as well.

Products: Research Dive Analysis

The automotive sub-segment of the global 3D metrology market is anticipated to have a dominant market share and surpass $2,146.3 million by 2028, with an increase from $1,253.1 million in 2020. Automotive companies are the key users of dimensional 3D metrology equipment due to the wide inspections required. Recent trends in manufacturing facility automation have increased the demand for dimensional metrology devices, mostly 3D measuring machines and optical digital scanners, because these systems offer a high degree of accuracy, flexibility, high-precision measurement, and size.

The medical sub-segment of the global 3D metrology market is anticipated to have the fastest growth and surpass $1,052.4 million by 2028, with an increase from $528.1 million in 2020, with the CAGR 9.2%. The use of 3D metrology technologies in the medical and dental fields has skyrocketed. This is due to the free-flowing, organic shapes that are nearly impossible to measure with standard measurement devices. Another growth driver is the broad range of applications, which includes product design, medical treatment, and scientific research. Over the years, several organizations have provided 3D models to doctors, design engineers, manufacturing engineers, researchers, and scientists.

Products: Research Dive Analysis

The Market for 3D Metrology in North America to be the Most Dominant

The North America 3D metrology market accounted $1,464.0 million in 2020 and is projected to register a revenue of $2,356.7 million by 2028. In terms of the value of the 3D metrology market, North America ranks first. The market is being driven by vast technological advances and automation in the region's manufacturing sectors. With a strong presence of pharmaceutical, automotive, and aerospace equipment manufacturers, the United States leads the region's 3D metrology market. Furthermore, faster automation of automotive manufacturing facilities generates significant market demand. Moreover, the high demand for the metrological technologies from the region's thriving manufacturing sector validates the 3D metrology market size.

The Market for 3D Metrology in Asia-Pacific will be the Fastest Growing in Forecast Period

The Asia-Pacific 3D metrology market accounted $846.9 million in 2020 and is projected to register a revenue of $1,716.5 million by 2028. The Asia-Pacific is expected to grow at a significant CAGR 9.4%, over the forecast period. The growing adoption of 3D metrology automobile and electronics manufacturers for various applications such as virtual simulation, reverse engineering, and quality control & inspection is attributed to the market share. The region serves as a distribution center for a variety of industrial products such as manufacturing equipment, food processing equipment, transportation equipment, and consumer goods. Furthermore, the region's 3D metrology market share is growing due to the growing use of 3D metrology in various power generation and industrial applications such as raw casting, forging inspection, mould & die design, and inspection of power generation components.

Competitive Scenario in the Global 3D Metrology Market

Product advancements, innovations, and business expansion are common strategies followed by major market players.

Products: Research Dive Analysis

Some of the leading 3D metrology market players are Hexagon, FARO Technologies, KEYENCE Corp., Jenoptik, Nikon Corp., Mitutoyo Corp., ZEISS Group, KLA Corp., Perceptron, Renishaw, and 3D Systems, Inc.

Porter’s Five Forces Analysis for the Global 3D Metrology Market:

• Bargaining Power of Suppliers: There is small number of suppliers in the 3D metrology market and the availability of raw materials and product dependency is high,, also there is high demand for 3D metrology from various countries in order to reduce the cost impact.
  Thus, the bargaining power suppliers is high.
• Bargaining Power of Buyers: Buyers have little bargaining power because establishing a 3D Metrology requires a large capital investment. However, high cost associated with the technologies will restrict the user to adopt the technologies.
  Thus, the bargaining power of the buyers is low.
• Threat of New Entrants: The companies entering 3D Metrology market have to deal with high investment cost and adhere to the environmental regulations as well. 
  Thus, the threat of the new entrants is low.
• Threat of Substitutes: There are alternative method available in the market. In industry, a variety of inspection equipment is available to capture the points on a surface that will anticipate manufacturing form error. However, the 3D metrology market demand is increasing continuously in the market.
  Thus, the threat of substitutes is low.
• Competitive Rivalry in the Market: The competitive rivalry among industry leaders is extensive mainly because the number of players operating in 3D Metrology industry are focusing on enhancing the efficiency of the battery, business expansion, and product innovations.
  Therefore, competitive rivalry in the market is high.