Optical Metrology Effectively Tackling the Riddle of Precise Measurements

The global optical metrology market is being driven by the increasing requirement for precise measurements and product assessments in the semiconductor, oil and gas, and manufacturing sectors. Generating revenue of $1,989.2 million in 2017 according to a P&S Intelligence study, the domain is expected to advance with a CAGR of 6.5% during the forecast period 2018–2023.

Optical metrology can be defined as the usage of light for precise measurements in objects that are sensitive to touch.

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Optical metrology, in this regard, provides the solution in various avatars, including 3D laser scanners that dominated the product segment of the optical metrology market, which also includes video measuring machines and laser micrometery, with more than 70.0% revenue share in 2017.

It is a universally accepted truth that technology helps make life easier, but on the downside, it makes machines and associated components complicated.

As conventional measurement techniques have proved ineffective due to the rising complexities in machines, firms have sought an answer to the riddle of exact measurements and assessments.

Coming to the global scenario, North America led the domain in the historical period 2013–2017 in terms of revenue generation, accounting for more than 30.0% market share.

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However, the future revenue and sales CAGRs of the optical metrology market are expected be the highest in Asia-Pacific, owing to the rapidly expanding automotive industries in China and India. Thus, it is clear that, as machines and tools keep becoming more complex, optical metrology will be used even more in the coming years.

Global Optical Metrology Market Segmentation

Market Segmentation by Product

· Video measuring machines (VMM)

· Optical/Laser scanners

· Laser Micrometry

Market Segmentation by Application

· Distance Measurement

· Surface Inspection

· Form Measurement

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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.