Overview and Scope
A video measuring system, or video measurement system, is a type of metrology (measurement science) tool that utilizes video cameras and computer-based image processing to measure the dimensions and features of objects with high precision. These systems are commonly used in manufacturing and quality control processes to ensure that products meet specified dimensional tolerances and quality standards.
Sizing and Forecast
The video measuring system market size has grown rapidly in recent years. It will grow from $6.31 billion in 2023 to $7.2 billion in 2024 at a compound annual growth rate (CAGR) of 14%. The growth in the historic period can be attributed to increasing adoption of precise measurement, increased quality assurance demands, globalization of manufacturing, diverse industry applications, diverse industry applications.
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Segmentation & Regional Insights
The video measuring system market covered in this report is segmented –
1) By Product Type: Manual Video Measuring System, Automated Video Measuring System
2) By Offering: Hardware, Software, Services
3) By Application: Automotive, Aerospace And Defense, Heavy Machinery, Energy And Power, Electronics, Medical, Other Applications
Asia-Pacific was the largest region in the video measuring system market in 2023. The regions covered in the video measuring system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising adoption of smart manufacturing is expected to propel the growth of the video measuring system market going forward. Smart manufacturing refers to a category of manufacturing that utilizes computer-integrated manufacturing, high levels of adaptability, rapid design changes, digital information technology, and more flexible technical workforce training. Video measuring systems are used in smart manufacturing to provide accurate and automated non-contact measurements for quality control and precision in production processes. For instance, in May 2022, according to a survey of 321 manufacturers conducted by Rockwell Automation, Inc., a US-based provider of industrial automation and digital transformation technologies, the adoption of smart factory technologies witnessed a remarkable 50% year-over-year growth. Moreover, 74% of surveyed manufacturers are either currently utilizing or planning to integrate artificial intelligence into their manufacturing operations, and 83% of manufacturing professionals are planning to upgrade their modernization processes into smart factories. Therefore, the rising adoption of smart manufacturing is driving the video measuring system market.
Key Industry Players
Major companies operating in the video measuring system market report are Carl Zeiss AG, Keyence Corporation, Hexagon AB, Nikon Corporation, Advantest Corporation, Trimble Inc., Leica Geosystems AG, Cognex Corporation, Renishaw plc, Mitutoyo Corporation, 3D Systems Corporation, FARO Technologies Inc., GOM GmbH, E. Zoller GmbH & Co. KG, Accu-Tech Measurement System Ltd., Creaform Inc., Perceptron Inc., LMI Technologies Inc., Wenzel Group GmbH & Co. KG, Sipcon Instrument Industries, Vision Engineering Ltd., Zygo Corporation, Carmar Accuracy Co. Ltd., OCTUM GmbH, Dongguan Yihui Optoelectronics Technology Co. Ltd.
The video measuring system market report table of contents includes:
1. Executive Summary
2. Video Measuring System Market Characteristics
3. Video Measuring System Market Trends And Strategies
4. Video Measuring System Market - Macro Economic Scenario
5. Global Video Measuring System Market Size and Growth
....
32. Global Video Measuring System Market Competitive Benchmarking
33. Global Video Measuring System Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Video Measuring System Market
35. Video Measuring System Market Future Outlook and Potential Analysis
36. Appendix
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