Albany, NY, Jan. 25, 2016 (GLOBE NEWSWIRE) -- The global automated optical metrology market is the focus of analysis of a new market research report published by Transparency Market Research (TMR). The report is titled, “Automated Optical Metrology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021”.
The report states that the growing compliance of companies in various industries to international measurement standards will help the global automated optical metrology market attain a valuation of US$1.5 bn by 2021. The market, which had a valuation of US$0.92 bn in 2014, is projected to expand at a 7.6% CAGR over the report’s forecast period.
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Optical metrology is the measurement technology that makes use light for measuring objects. Additionally, optical metrology equipment uses a variety of sophisticated technologies to measure hidden dimensions and unknown quantities of objects that are either very difficult or impossible to physically measure. The high use of these systems in the aerospace and automotive sector and the flourishing growth of these industries is also a key driver for the global automated optical metrology market. However, the lack of a universal measurement system restrains the growth of this market to a certain extent.
The report segments the global automated optical metrology market on the basis of three criteria: product type, application, and geography.
On the basis of product type, the market is segmented into coordinate measuring machines, laser scanners, and video measuring machines. Of these, the segment of coordinate measuring machines led the overall market by accounting for a 38% share in 2014.
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On the basis of application, the market is segmented into consumer electronics, automotive, medical, industrial, and aerospace and defense. Of these, the automotive segment held the largest share in the global market, of about 30%, in 2014.
On the basis of geography, the market is segmented into Asia Pacific, North America, Europe, and Rest of the World (RoW). Of these, Europe held the largest share in the global automated optical metrology market in 2014, followed by North America. However, Asia Pacific is considered to be the most lucrative regional market in the future years owing to rapid industrialization in the region and the presence of several established industries. Currently, the usage of automated optical metrology equipment in companies based in developing and under-developed regions is quite low. However, the increasing development of these regions is expected to lead to the increased use of optical metrology solutions in these regions in the near future.
The report also presents a detailed overview of the competitive landscape of the global automated optical metrology market, wherein the business profiles, SWOT analysis, and Porter’s five forces analysis of some of the key vendors in the market are included. Recent developments in the market are also analyzed. Some of the key companies in the market are KLA Tencor Corporation, Nikon Metrology NV, ASML Holding NV, Hexagon Metrology, SteinbichlerOptotechnik GmbH.
The market is segmented as:
Global Automated Optical Metrology Market: By Product Type
- Video measuring machines
- Laser scanners
- Coordinate measuring machines
Global Automated Optical Metrology Market: By Application
- Consumer electronics
- Aerospace & Defense
Global Automated Optical Metrology Market: By Geography
- North America
- Rest of Europe
- Asia Pacific
- Oceania (Australia and New Zealand)
- Rest of Asia Pacific
- Rest of the World (RoW)
- Latin America
- South Africa
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Source:Transparency Market Research