Optical Measurement Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Optical Measurement Market Trends and Forecast

The future of the global optical measurement market looks promising with opportunities in the automotive, aerospace and defense, energy and power, electronics manufacturing, industrial, and medical industries. The global optical measurement market is expected to reach an estimated $7.2 billion by 2028 with a CAGR of 5.8% from 2023 to 2028. The major drivers for this market are increasing inclination towards 3D metrology services, growing demand for this device in industry 4.0 settings, and rising demand for IoT based technologies.

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Optical Measurement Market by Segment

The study includes trends and forecast for the global optical measurement market by product type, offering, end use industry, and region

Optical Measurement Market by Product Type [Shipment Analysis by Value from 2017 to 2028]:

• Autocollimator
• Measuring Microscope
• Profile Projector
• Optical Digitizers and Scanners
• Coordinate Measuring Machines
• Video Measuring Machines

Optical Measurement Market by Offering [Shipment Analysis by Value from 2017 to 2028]:

• Software
• Hardware
• Services

Optical Measurement Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:

• Automotive
• Aerospace and Defense
• Energy and Power
• Electronics Manufacturing
• Industrial
• Medical
• Others

Optical Measurement Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Optical Measurement Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, optical measurement companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the optical measurement companies profiled in this report include:

• Hexagon
• Faro Technologies
• Jenoptik
• Keyence
• Mitutoyo
• Nikon
• Vision Engineering

Optical Measurement Market Insights

• Lucintel forecasts that coordinate measuring machine is expected to witness the highest growth over the forecast period due to its several benefits, such as capacity for easy and accurate measuring, need for less labor, and reduced possible errors.
• Automotive will remain the largest segment due to significant need for optical measurement systems in the automobile sector to upgrade comfort and safety standards.
• North America will remain the largest region over the forecast period due to presence of key players and significant demand for optical measurement system in various end use industries, including automotive and aerospace sector of the region.

Features of the Global Optical Measurement Market

• Market Size Estimates: Optical measurement market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2017 to 2022) and forecast (2023 to 2028) by various segments and regions.
• Segmentation Analysis: Optical measurement market size by various segments, such as by product type, offering, end use industry, and region in terms of value ($B).
• Regional Analysis: Optical measurement market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different product types, offerings, end use industries, and regions for the optical measurement market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the optical measurement market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the optical measurement market size?
• Answer: The global optical measurement market is expected to reach an estimated $7.2 billion by 2028.
• Q2.What is the growth forecast for optical measurement market?
• Answer: The global optical measurement market is expected to grow with a CAGR of 5.8% from 2023 to 2028
• Q3.What are the major drivers influencing the growth of the optical measurement market?
• Answer: The major drivers for this market are increasing inclination towards 3D metrology services, growing demand for this device in industry 4.0 settings, and rising demand for IoT based technologies.
• Q4. What are the major segments for optical measurement market?
• Answer: The future of the optical measurement market looks promising with opportunities in the automotive, aerospace and defense, energy and power, electronics manufacturing, industrial, and medical industries.
• Q5. Who are the key optical measurement market companies?
• Answer: Some of the key optical measurement market companies are as follows:
  • Hexagon
  • Faro Technologies
  • Jenoptik
  • Keyence
  • Mitutoyo
  • Nikon
  • Vision Engineering
• Q6. Which optical measurement market segment will be the largest in future?
• Answer: Lucintel forecasts that coordinate measuring machine is expected to witness the highest growth over the forecast period due to its several benefits, such as capacity for easy and accurate measuring, need for less labor, and reduced possible errors.
• Q7. In optical measurement market, which region is expected to be the largest in next 5 years?
• Answer: North America will remain the largest region over the forecast period due to presence of key players and significant demand for optical measurement system in various end use industries including automotive and aerospace sector of the region.
• Q.8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global optical measurement market by product type (autocollimator, measuring microscope, profile projector, optical digitizers and scanners, coordinate measuring machines, and video measuring machines), offering (software, hardware, and services), end use industry (automotive, aerospace and defense, energy and power, electronics manufacturing, industrial, medical, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?