In order to study the various trends and patterns prevailing in the overall market for Automated Optical Metrology, Market Research Reports Search Engine (MRRSE) has included a new report titled “Automated Optical Metrology Market” to its wide online database. This research assessment offers a clear insight about the influential factors that are expected to transform the global market in the near future. Readers can access the regional as well as segment-wise analysis for acquiring precise information about the global market structure.
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KLA Tencor Corporation, ASML Holding N.V., and Steinbichler Optotechnik GmbH, the three top providers of automated optical metrology services, collectively held a share of 39.4% of the market value in 2014, states MRRSE in a new report.
The key competitive strategy employed by most top players in the automated optical metrology market is driving company growth through constant product innovation and development. MRRSE states that innovation for new products is a necessity in this market to maintain a strong foothold within its stiff competitive landscape. Apart from this, companies are also focusing on mergers and acquisitions. Close to half the market shares were held by regional players in 2014, and key players can look for opportunities in regional expansion through this fragmented set.
Industries Pull in Advanced Automated Optical Metrology Solutions to Comply with Measurement Standards
“The lack of measurement standardization within any industry can be extremely detrimental when it comes to trade,” states a TMR analyst. “As such, most industries are striving to keep up with the market growth by inculcating the measurement standards to ensure high quality of products that can be exported.”
Quality control, measurement, and inspection have thus become a core necessity in all manufacturing processes. The International Bureau of Weights and Measures is one such organization that is responsible for fixing measurement standards on an international scale.
All companies affiliated with these industries must adhere to these standards to ensure high quality product quality, therefore ramping up the demand for automated optical metrology.
Lack of International Measurement Standards Hinder Automated Optical Metrology Players from Expanding Geographically
While industries follow their own measurement standards for quality control, each organization possesses its own set of standard measurements. Furthermore, these clustered measurement standards can also prove to be contradictory to other standards, causing significant confusion and loss of product manufacturing time.
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Companies applying these non-standard measurement for international trade are the ones most hit. The lack of international measurement standards is therefore, something that needs to be resolved to improve the growth rate of automated optical metrology.
Automotive Industry Ups Demand for Automated Optical Metrology Systems
The global automated optical metrology market is expanding at a CAGR of 7.6% within a forecast period from 2015 to 2021 in terms of revenue. This revenue is expected to reach US$1,565.3 mn by the end of 2021.
The region with the largest revenue share in automated optical metrology is Europe. Its revenue is expected to reach US$479.6 mn by the end of 2021. North America and Asia Pacific are expected to be a close second and third respectively.
The largest scope of use for automated optical metrology services is found in the automotive industry. The revenue generated by automated optical metrology players from the automotive industry by 2021 is expected to reach US$421 mn.
Although there are a number of organizations that set quality control and measurement standards across the globe yet the measurement standards are contradictory to each organization. This creates dispute in measurement policies of companies in various countries. Therefore, the lack of universal measurement is expected to inhibit the global automated optical metrology market till the time a universal measurement policy is established.
The market is segmented on the basis of geography into Europe, North America, Asia Pacific and Rest of the World (RoW). These segments have been estimated in terms of revenue (USD million). In addition, the report has been segmented based on product types, which includes, video measuring machines, laser scanners and coordinate measuring machines. In addition, the report is also segmented by application that includes automotive, consumer electronics, industrial, medical, and aerospace and defense.
For better understanding of the automated optical metrology market, the study comprises market attractiveness analysis, where the product types are benchmarked based on their market scope, growth rate and market attractiveness.
The report also provides company market share analysis of the various industry participants. Key players have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: KLA Tencor Corporation (U.S.), ASML Holding NV (Netherlands), Hexagon Metrology, Inc. (Sweden), Nikon Metrology NV (Belgium) and Steinbichler Optotechnik GmbH (Germany) among others.
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The automotive catalytic converter market has been 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
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