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Global Optical Coordinate Measuring Machine Market Share, Size, Analysis, Research: By Product: Multi-sensor, 2D Vision Measurement Machine, 3D Vision Measurement Machine; By End Use: Aerospace and Defence, Automotive, Others; By Machine; Regional Analysis; Competitive Landscape: Industry Events and Developments; 2023-2028
Global Optical Coordinate Measuring Machine Market Outlook
The global optical coordinate measuring machine market size reached a value of around USD 3.14 billion in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 8.60% to reach USD 5.21 billion by 2027.
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Increasing Demand for Bridge Optical Coordinate Measuring Machines in Various End Use Industries to Augment Market Growth
Bridge optical coordinate measuring machines are extremely accurate and exhibit high tolerance to machine parts. In addition to this, bridge CMMs are compatible with small to medium sizes of machines used in various end use industries. Hence, the product is witnessing a significant demand from different industries. Moreover, bridge CMMs allows multi sensor measurements including scanning and probing.
The bridge CMMs are also convenient for workers as they can be controlled manually, as well as through computers. The cost of bridge CMMs is lower as compared to its counter parts. In this regard, over the forecast period, the anticipated increase in demand for cost-effective measuring machines across industries such as automotive, and aerospace, among others, is likely to propel the segment’s growth, surging the optical coordinate measuring machine market.
The Asia Pacific Region Holds a Significant Market Share of Optical Coordinate Measuring Machines
The market in the Asia Pacific region is being driven by the strong foothold of major manufacturing companies in the region. The steady economic growth attained by countries like India and China is expected to provide significant growth opportunities to industries such as automotive and aerospace and defence. This is likely to lead to enhanced manufacturing capabilities, thereby, propelling the demand for the optical coordinate measuring machine market in the forecast period. The anticipated rise in demand for electric automobiles in countries like Japan and South Korea are likely to generate the demand for superior quality CMMs.
Market Segmentation
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An optical coordinate measuring machine, also known as computer numerical control image measuring machine, is defined as an equipment which is used to measure the dimension of a physical object. This device uses automated technology to carry out fast and accurate measurements of a body. Optical coordinate measuring machine can be varied based on different types according to the requirements.
Based on product, the market can be segmented into:
- Multi-sensor
- 2D Vision Measurement Machine
- 3D Vision Measurement Machine
By end use, the market has been divided into:
- Aerospace and Defence
- Automotive
- Heavy Machinery and Metal Fabrication
- Others
On the basis of machine, the optical coordinate measuring machine market has been categorised into:
- Articulated
- Bridge
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Growing Applications in Aerospace and Defence Sector to Surge the Optical Coordinate Measuring Machine Industry
The increasing applications of optical coordinate measuring machines in the aerospace and defence industry for quality assurance and precision engineering is driving the optical coordinate measuring machine market growth. In addition to this, the technological advancements of military aircrafts, weapon systems and increasing manufacturing capacity of the unmanned aerial vehicles are generating a high demand for measurement systems with greater accuracy. Measurement systems are used in aerospace and defence sector for prolonged hours, as much as 16 hours a day. This factor is leading to a higher spending on the maintenance of CMMs.
Over the forecast period, the growing research and development activities in the automotive industry to produce lightweight and fuel-efficient passenger vehicles are likely to boost the demand for CMMs with high mechanical performance and greater reliability. Therefore, this factor is likely to lead to progressive product innovations in the coming years. Furthermore, the market is anticipated to be aided by the increasing popularity of portable optical coordinate measuring machines in various end use sectors.
Key Players in the Global Market for Optical Coordinate Measuring Machine
The report gives a detailed analysis of the following key players in the global optical coordinate measuring machine market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Quality Vision International
- Werth Messtechnik GmbH
- Hexagon AB
- Mitutoyo America Corporation
- Zeiss International
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by End Use |
|
| Breakup by Machine |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Trade Data Analysis |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Optical Coordinate Measuring Machine Market Analysis
8.1 Key Industry Highlights
8.2 Global Optical Coordinate Measuring Machine Historical Market (2018-2022)
8.3 Global Optical Coordinate Measuring Machine Market Forecast (2023-2028)
8.4 Global Optical Coordinate Measuring Machine Market by Product
8.4.1 Multi-sensor
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 2D Vision Measurement Machine
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 3D Vision Measurement Machine
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 Global Optical Coordinate Measuring Machine Market by End Use
8.5.1 Aerospace and Defence
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Automotive
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.5.3 Heavy Machinery and Metal Fabrication
8.5.3.1 Historical Trend (2018-2022)
8.5.3.2 Forecast Trend (2023-2028)
8.5.4 Others
8.6 Global Optical Coordinate Measuring Machine Market by Machine
8.6.1 Articulated
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Bridge
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Others
8.7 Global Optical Coordinate Measuring Machine Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2022)
8.7.3.2 Forecast Trend (2023-2028)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2022)
8.7.4.2 Forecast Trend (2023-2028)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2022)
8.7.5.2 Forecast Trend (2023-2028)
9 North America Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code - 903149)
16.1 Major Exporting Countries
16.1.1 By Value
16.1.2 By Volume
16.2 Major Importing Countries
16.2.1 By Value
16.2.2 By Volume
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Quality Vision International
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Werth Messtechnik GmbH
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Hexagon AB
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Mitutoyo America Corporation
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Zeiss International
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Optical Coordinate Measuring Machine Market: Key Industry Highlights, 2018 and 2028
2. Global Optical Coordinate Measuring Machine Historical Market: Breakup by Product (USD Million), 2018-2022
3. Global Optical Coordinate Measuring Machine Market Forecast: Breakup by Product (USD Million), 2023-2028
4. Global Optical Coordinate Measuring Machine Historical Market: Breakup by End Use (USD Million), 2018-2022
5. Global Optical Coordinate Measuring Machine Market Forecast: Breakup by End Use (USD Million), 2023-2028
6. Global Optical Coordinate Measuring Machine Historical Market: Breakup by Machine (USD Million), 2018-2022
7. Global Optical Coordinate Measuring Machine Market Forecast: Breakup by Machine (USD Million), 2023-2028
8. Global Optical Coordinate Measuring Machine Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Optical Coordinate Measuring Machine Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Optical Coordinate Measuring Machine Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Optical Coordinate Measuring Machine Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Optical Coordinate Measuring Machine Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Optical Coordinate Measuring Machine Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Optical Coordinate Measuring Machine Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Optical Coordinate Measuring Machine Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Optical Coordinate Measuring Machine Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Optical Coordinate Measuring Machine Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Optical Coordinate Measuring Machine Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Optical Coordinate Measuring Machine Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Major Exporting Countries by Value
21. Major Importing Countries by Value
22. Major Exporting Countries by Volume
23. Major Importing Countries by Volume
24. Global Optical Coordinate Measuring Machine Market Structure
Key Questions Answered in the Report
In 2021, the global market attained a value of nearly USD 3.14 billion.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 5.21 billion by 2027.
The market is estimated to grow at a CAGR of 8.60% between 2023 and 2028.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major market drivers include the rising applications of optical coordinate measuring machines in the aerospace and defence industry, increasing inclination of manufacturers towards measurement devices with superior mechanical strength, and increasing manufacturing capabilities across the emerging economies.
The technological advancements in the automotive industry are likely to be the key trends in the market.
Multi-sensor, 2D vision measurement machine, and 3D vision measurement machine are the different segments based on product.
Aerospace and defence, automotive, and heavy machinery and metal fabrication, among others is the segmentation of market based on end use.
Articulated, and bridge, among others are the different machines considered in the market report.
The major players in the industry are Quality Vision International, Werth Messtechnik GmbH, Hexagon AB, Mitutoyo America Corporation, and Zeiss International, among others.
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