Optical Coordinate Measuring Machine Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 1.85 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Optical Coordinate Measuring Machine Market Analysis
The global optical coordinate measuring machine market was valued at USD 617.27 million in 2020, and it is projected to be worth USD 627.08 billion by 2026, registering a CAGR of 1.85% during the period of 2021 - 2026.
- The increasing automation in the industrial sector and the growing adoption of cloud and data-related solutions are some of the major drivers of the overall metrology market. The increasing investment in quality inspection and rising need for precise measurements are some of the major factors driving the innovation in the studied market.
- The need for continuous measurements due to industries' shift to smart/digital manufacturing is also developing a need for advanced optical CMMs. Industries such as automotive, aerospace and defense, electronics, and semiconductor have witnessed increasing complexity of devices and demand for precise measurements due to smart devices. The growing manufacturing in these sectors will be primary revenue streams for studied market vendors over the forecast period.
- Sensor capabilities are extended to being used either as a combination of machine and motorized head motion (CMM) or the part presented to the sensor using a combination of linear and rotary machine motions (VMM). Both the technologies (CMM and VMM) have been witnessed converging for complex part inspections.
- The automotive sector has been an adopter of CMMs for the measurement across car, truck, and motorcycle engines. Traditionally CMMs are being used to measure characteristics like diameters and depths of holes and similarly, relied upon a separate roughness-checking machine. The advent of multi-sensor measuring machines led the automotive companies to get most of the inspection work done in a single machine with no downtime, no moving parts back and forth, etc.
Optical Coordinate Measuring Machine Market Trends
This section covers the major market trends shaping the Optical Coordinate Measuring Machine Market according to our research experts:
Changing Product Designs and Growing Investments in Industry 4.0
- Most of the global automotive, aerospace and semiconductor and medical device manufacturers are deploying modern reverse engineering to drive business value throughout the design, manufacture, and maintenance of their products. The high rate of product design changes in these industries is also bringing continuous changes in the production line. As the production changes, the quality standards need to keep pace, fuelling the adoption of advance CMMs.
- With Industry 4.0 practices integrating all areas of manufacturing to enhance the efficiency of production processes, optical and laser scanning is a key component in its implementation. In the production environment, multi-sensors help obtain a rapid insight into deviations, a significant benefit of high-speed digital data capture. With the support of high precision and reliable CMMs, manufacturers are making them ready for Industry 4.0.
- In September 2020, the US Government announced USD 1 billion investment in researching Industry 4.0 technologies. The DoE is providing up to USD 625 million over five years to five QIS Research Centers. These five QIS hubs will mainly focus on areas, including quantum networking, sensing, computing, and materials manufacturing, and receive USD 300 million from the private sector and academia.
Asia-Pacific to Witness a Significant Growth Rate Over the Forecast Period
- China is touted to be the most lucrative market, due to substantial dominance in the global manufacturing sector, including the manufacturing of products of the studied market. According to data published by the United Nations Statistics Division, China accounted for 28% of global manufacturing output in 2018. The recent COVID-19 outbreak affected the country’s manufacturing initially, but the country has been successful in regaining its sector’s strength.
- The demand for inline metrology solutions is also growing rapidly in the Asia-Pacific region owing to the high economic growth witnessed by major countries, such as China and India. The region has a strong presence of several automobile and electronics manufacturing plants wherein inline metrology systems are increasingly being adopted for quality control inspections.
- Asia-pacific region also dominates the semiconductor and electronics industry worldwide driven by the extensive manufacture base in China, Japan, South Korea, Taiwan, and lastly, India. The regional dominance in global semiconductor manufacturing has not only helped the region to hold a strong presence in global electronic manufacturing but also in the manufacturing of CMM and technologies like sensors.
- The India-based startup, Lincode Labs, is utilizing AI and Industrial IoT solutions to increase the profitability of manufacturers. The company helps manufacturers automate visual inspection and improve overall equipment effectiveness (OEE) by identifying product defects using computer vision and artificial intelligence with deep learning.
Optical Coordinate Measuring Machine Industry Overview
The Global Optical Coordinate Machine market is competitive. The presence of prominent players, such as Hexagon AB, Nikon Metrology NV, and Carl Zeiss, with strong established distribution channels across regions, makes it difficult for the new entrants to acquire new customers. Some recent developments in the market include:
- August 2020 - Hexagon released DELTA OPERA, as a large volume CMM, to simplify loading of large parts across industrial environments. By featuring a unique open structure, it leads its users to load workpieces from three sides of the CMM, making part loading quicker and flexible whilst protecting workpieces by avoiding collisions with the CMM structure.
- May 2020 - Nikon Metrology NV announced a new distribution partnership with Wenzel. The partnership means that WENZEL becomes an official Nikon Metrology partner for the sales and distribution of Nikon Metrology laser scanning products in the European market. WENZEL's expertise and innovation in the CMM market and Nikon Metrology's peerless laser scanning technology will support the European customer base with tailored CMM laser scanning solutions to meet a wide variety of applications, industries, and requirements.
Optical Coordinate Measuring Machine Market Leaders
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Hexagon AB
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Carl Zeiss AG
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Mitutoyo Corporation
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Nikon Metrology NV
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Micro Vu Corporation
*Disclaimer: Major Players sorted in no particular order
Optical Coordinate Measuring Machine Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Threat of Substitutes
- 4.2.5 Intensity of Competitive Rivalry
- 4.3 Impact of COVID-19 on the Optical CMM Market
- 4.4 Evolution of the CMM Industry
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4.5 Market Drivers
- 4.5.1 Changing Product Designs and Growing Investments in Industry 4.0
- 4.5.2 Adoption of In-line Solutions and Technological Advancements
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4.6 Market Challenges
- 4.6.1 Slower Replacement Rates And Rising Number of Substitute Technologies
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 Multi-sensor
- 5.1.2 2D Vision Measurement Machine
- 5.1.3 3D Vision Measurement Machine
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5.2 End User
- 5.2.1 Aerospace and Defense
- 5.2.2 Automotive
- 5.2.3 Heavy Machinery and Metal Fabrication
- 5.2.4 Other End-user Industries
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5.3 Machine Type
- 5.3.1 Articulated
- 5.3.2 Bridge
- 5.3.3 Other Machine Types
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5.4 Geography
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Rest of the World
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 OGP (Quality Vision International Inc)
- 6.1.2 Werth Messtechnik GmbH
- 6.1.3 Micro Vu
- 6.1.4 Nikon Metrology NV
- 6.1.5 Mitutoyo Corporation
- 6.1.6 Carl Zeiss AG
- *List Not Exhaustive
7. ANALYSIS OF TOP 10 MULTI SENSOR PRODUCT OFFERINGS
8. VENDOR MARKET POSITIONING ANALYSIS
9. FUTURE OF THE MARKET
Optical Coordinate Measuring Machine Industry Segmentation
Optical CMMs are optimal tools to provide the data that flows through the business and enables ultimate control across the entire manufacturing process. The market is segmented based on product type, end-users, machine type, and geography.
| Product Type | Multi-sensor |
| 2D Vision Measurement Machine | |
| 3D Vision Measurement Machine | |
| End User | Aerospace and Defense |
| Automotive | |
| Heavy Machinery and Metal Fabrication | |
| Other End-user Industries | |
| Machine Type | Articulated |
| Bridge | |
| Other Machine Types | |
| Geography | North America |
| Europe | |
| Asia Pacific | |
| Rest of the World |
Optical Coordinate Measuring Machine Market Research FAQs
What is the current Global Optical Coordinate Measuring Machine Market size?
The Global Optical Coordinate Measuring Machine Market is projected to register a CAGR of 1.85% during the forecast period (2024-2029)
Who are the key players in Global Optical Coordinate Measuring Machine Market?
Hexagon AB, Carl Zeiss AG, Mitutoyo Corporation, Nikon Metrology NV and Micro Vu Corporation are the major companies operating in the Global Optical Coordinate Measuring Machine Market.
Which is the fastest growing region in Global Optical Coordinate Measuring Machine Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Optical Coordinate Measuring Machine Market?
In 2024, the Asia Pacific accounts for the largest market share in Global Optical Coordinate Measuring Machine Market.
What years does this Global Optical Coordinate Measuring Machine Market cover?
The report covers the Global Optical Coordinate Measuring Machine Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Optical Coordinate Measuring Machine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Optical CMM Industry Report
Statistics for the 2024 Optical CMM market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Optical CMM analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
