Global Optical Measurement Market
Global Optical Measurement Market was value US$ 4.0Bn in 2017 and is expected to reach US$ 8.0Bn by 2026 at a CAGR of 9.05%.
Global Optical Measurement Market, by RegionAn optical measurement system is a type of measuring device that is used for measuring physical properties of a number of products. Optical measurement is a non-contact measuring solution that is used for inspection and process controlling purpose. It involves measurement of passing light and optical beams in different angles above the product and then these lights get reflected the optical sensors.
Development of application industries is the key factors driving demand of optical measuring market in upcoming years. The optical measuring system is required for improving accuracy on measuring of physical properties of a product. Emerging business models like collaboration and partnership amid the market players present in the application universe and new product development with improved operational efficiency in a cost-effective manner are inferred as one of the driving factors for the acceptance of an optical measurement system. Though, high operation and investment costs and usage of fragile components are two major restraints expected to negatively impact future demand and adoption barrier for the optical measuring market.
Automotive segment is dominating the optical measurement market. The automotive industry has been progressively using optical measurement solutions for improving safety and comfort level in vehicles. These factors have contributed to the increased adoption of optical measurement in the automotive vertical. So, in 2017, the automotive vertical has the largest market for optical measurement.
Video measuring machine (VMM) is expected to grow at the highest rate during the forecast period. VMM is an emerging measurement solution between industries as it enables manufacturers to monitor the efficiency and quality of components required to build desired industrial products. This system has gained marvellous popularity in recent years as of its features such as improved speed, greater accuracy, and the availability of customization based on application.
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|Target State: All States|
Target City : pune
Last Update : Aug 03, 2020
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|Item Owner : pallavi|
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