3D Metrology Market to Reach US$ 24.53 Billion by 2033, Driven by Automotive and Aerospace Sectors

The global 3D metrology market is set to experience remarkable growth, with a projected Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period. By 2033, the market is expected to surge to an impressive valuation of US$ 24.53 billion, having already surpassed the US$ 10.85 billion mark in 2023.

This upswing is driven by the increasing adoption of 3D measuring scanners by engineers and designers, which eliminates the need for manual labor, thus ensuring the rapid collection of high-quality product data. This trend is particularly noticeable in the engineering industry, which is propelling the market towards a favorable growth trajectory.

Profitable Market Opportunity

The development of the application base of universal systems to encompass several functional aspects is limited by the necessity for specialized metrology solutions. As a result, the end-user is forced to pick from a variety of service providers to display a single chain of production processes. Yet, it can increase the associated prices and force customers to acquire their metrology products, contributing to the overall demand.

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Key Takeaways

• By 2033, France is expected to dominate the 3D metrology market in Europe.
• The 3D metrology market was significantly expanding, with a size of US$ 10 billion in 2022.
• The market is anticipated to expand at a valuation of US$ 13.86 billion by 2026, as a result of rising applications in end-use industries.
• Due to the market’s excellent potential and cutting-edge technologies like virtual simulation in manufacturing procedures, analysts expect it is likely to rise 1.08 times between 2022 and 2023.
• Germany is likely to expand significantly in the 3D metrology market, with a CAGR of 7.1% by 2033.
• By 2033, the United States is anticipated to dominate the North America region with a 6.2% CAGR.
• Based on components, the hardware segment dominated the market with a 50% share in 2022 and continued to lead the market during the forecast period.
• Based on application, quality control, and inspection led the market share in 2022, and continues to lead the market during the forecast period.

Critical Approaches Increasing Top Players’ Wealth

The 3D metrology approach reduces the cost of product development, as well as the overall time needed for new releases. Long-term expenses for significant players have dropped as a result. Some top organizations are using a range of business strategies, such as partnerships, acquisitions, and business development, to broaden the market in the country.

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Recent Developments

• Hexagon AB purchased Thermopylae Sciences + Technologies in February 2019; the company specialized in geospatial solutions to improve location intelligence. The purchase was made to accelerate the adoption of a 5D visualization application by the American government and defense sector.
• The introduction of FARO Technologies, Inc., a developer of 4D digital reality solutions’ new end-to-end 3D digital reality capture & collaboration platform, is scheduled for April 2022. This platform analyses and stores measurement data using contemporary methods like cloud computing and artificial intelligence.