Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The "Shape Measuring Devices Market By Type (Optical, 3D, Others), By Application (Cutting Edge, Cutting Tool, Others), By Sales Channel (In store, Online): Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global shape measuring devices market, valued at $1.31 Billion in 2021, is set to reach $2.08 Billion by 2031, exhibiting a steady CAGR of 4.6% from 2022 to 2031.
Shape measurement plays a crucial role in revealing minute defects and imperfections on surfaces, such as burrs, scratches, and indentations. Shape measuring devices utilize optical technology through methods like light section and projection units to accurately define and measure objects.
These devices find applications across diverse sectors including steel & metal, electronics, medical, aerospace, defense, and microprecision manufacturing. The rise in consumer product demand has led to an increased number of manufacturing machinery, driving the need for shape measuring devices in repair and maintenance operations. Rapid technological advancements in shape measuring devices, coupled with the push for automation, are fueling the growth of the global market.
The demand for shape measuring devices is particularly pronounced in checking the micro-level dimensions of tools used in automotive part manufacturing. The expansion of industries like microprecision manufacturing, steel & metal, aerospace, and defense further bolsters the growth of the shape measuring devices market.
However, the setup and installation costs of testing facilities and shape measurement equipment present a challenge. Manufacturers face the pressure to balance affordability without compromising features and quality. This cost pressure acts as a restraint on the growth of the shape measuring devices market.
Despite these challenges, the integration of the Internet of Things (IoT) in shape measuring devices and the development of intelligent application platforms offer new growth avenues. Key players are also focusing on enhancing their product portfolios. For instance, Bruker Corporation introduced two new white light interferometry (WLI) systems in January 2023, offering improved surface texture and roughness analysis.
Market Dynamics:
Drivers:
- Automation and developments in shape measuring devices.
- Development of different industries in emerging countries.
Restraints:
- High installation and ownership costs of devices.
Opportunities:
- Integration of IoT in shape measuring devices.
Key Benefits for Stakeholders:
- Quantitative analysis of market segments, trends, and opportunities from 2021 to 2031.
- Insights into key drivers, restraints, and opportunities.
- Porter's five forces analysis for strategic decision-making.
- In-depth segmentation analysis for prevailing market opportunities.
- Revenue contribution mapping of major countries in each region.
- Market player positioning for benchmarking and insights into competitive positioning.
- Comprehensive analysis of regional and global trends, key players, segments, applications, and growth strategies.
Key Market Segments:
By Type:
- Optical
- 3D
- Others
By Application:
- Cutting Edge
- Cutting Tool
- Others
By Sales Channel:
- In store
- Online
By Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Alicona Imaging GmbH
- Alpa Metrology S.r.l.
- AMETEK.Inc
- QPT Innovative Technik Handels GmbH
- Retsch GmbH
- SmartVision S.r.l.
- Horiba Ltd
- Scantron Industrial Products Ltd
- Obishi Keiki Seisakusho Co.
- Clemex
For more information about this report visit https://www.researchandmarkets.com/r/3or5hw
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