Global Video Measuring System Market, By Offering (Hardware, Software and Services), Product Type (Manual Video Measuring System, Automated Video Measuring System and Semi-Automated Video Measuring System), Type (2D and 3D), Application (Electronics, Automotive, Aerospace and Defense, Heavy Machinery Industry, Medical and Energy and Power) – Industry Trends and Forecast to 2030.
Video Measuring System Market Analysis and Size
Growing digitization of the economies especially in the emerging ones, rising up gradation of existing infrastructure with advanced systems and increasing penetration of advanced technologies such as artificial intelligence, rising globalization and growth and expansion of medium and small scale industries, growing adoption of noncontact measurement techniques based on computer numerical control technology, surging demand from automotive industry, increasing expenditure for the adoption of advanced technologies by the aerospace and defense industry, rising initiative by the government to aggravate the process of digital transformation and widespread industrialization will lead to expansion of global video measuring system market.
Data Bridge Market Research analyses that the global video measuring system market which was USD 6.2 billion in 2022, is expected to reach USD 16.09 billion by 2030, and is expected to grow at a CAGR of 18.4% during the forecast period of 2023 to 2030. “Hardware” dominates the the offering segment of global video measuring system market due to the critical role of precision optics, sensors, and mechanical components in ensuring accurate and reliable measurements in manufacturing and quality control processes. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Video Measuring System Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Hardware, Software and Services), Product Type (Manual Video Measuring System, Automated Video Measuring System and Semi-Automated Video Measuring System), Type (2D and 3D), Application (Electronics, Automotive, Aerospace and Defense, Heavy Machinery Industry, Medical and Energy and Power)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and Rest of the Middle East and Africa
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Market Players Covered
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Hexagon (Sweden), Zeiss International (Germany), Faro Technologies Inc. (U.S.), Mitutoyo Corporation (Japan), Nikon India Pvt Ltd. (India), Perceptron, Inc (U.S.), Renishaw plc (U.K.), Keyence Corporation (Japan), ADVANTEST CORPORATION (Japan), GOM & COMPANY (Germany), WENZEL Group (Germany), CREAFORM (Canada), Zygo Corporation (U.S.), Vision Engineering Ltd (U.K.), CARMAR (U.S.), Dongguan Yihui Optoelectronics Technology Co., Ltd. (China), Sipcon (India), ACCU-TECH MEASUREMENT SYSTEMS (U.S.), OCTUM GmbH (Germany), among others
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Market Opportunities
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Market Definition
Video measuring systems, also known as video measurement systems or video inspection systems, are advanced precision instruments used for accurate and automated measurement and inspection of various objects and components. These systems employ video cameras and specialized software to capture high-resolution images of objects and perform precise measurements based on the visual data obtained.
Global Video Measuring System Market Dynamics
Drivers
- Increasing Demand for Precision Measurement in Manufacturing
The global video measuring system market is the growing demand for precision measurement in manufacturing processes. Manufacturers across various industries, such as automotive, aerospace, electronics, and medical devices, require highly accurate measurement tools to ensure product quality and adherence to strict tolerances. Video measuring systems offer a non-contact and highly precise method of measuring dimensions, angles, and other critical parameters, making them essential for modern manufacturing processes.
- Advancements in Optical and Camera Technologies
Advancements in optical and camera technologies have significantly contributed to the growth of the global video measuring system market. High-resolution cameras, improved image processing algorithms, and the integration of artificial intelligence (AI) have enhanced the capabilities of video measuring systems. These advancements enable faster and more accurate measurements, making the systems more attractive to industries where speed and precision are critical, such as semiconductor manufacturing and research laboratories.
Opportunities
- Industry 4.0 Integration Initiatives
An opportunity for the global video measuring system market lies in the integration of these systems with Industry 4.0 initiatives. Industry 4.0 aims to create smart factories with interconnected devices and systems that can communicate and make real-time decisions. Video measuring systems can play a pivotal role in this transformation by providing real-time measurement data, which can be analysed for quality control and process optimization. Integrating video measuring systems with Industry 4.0 technologies offers manufacturers a competitive edge and the ability to enhance their production processes.
- Expansion in Emerging Markets
The global video measuring system market has the opportunity for expansion in emerging markets, particularly in Asia-Pacific and Latin America. As manufacturing industries in these regions continue to grow and become more technologically advanced, there is an increasing need for quality control and precision measurement tools. Video measuring systems can cater to this demand, providing an opportunity for manufacturers and suppliers to tap into these growing markets and establish a stronger presence.
Restraints/Challenges
- High Initial Investment in the Market
One of the primary challenges facing the global video measuring system market is the high initial investment required for the purchase and installation of these systems. High-quality video measuring systems with advanced features can be costly, which can deter some small and medium-sized enterprises (SMEs) from adopting this technology. Manufacturers and suppliers need to find ways to address this challenge, such as offering flexible financing options or cost-effective entry-level solutions.
- Shortage of Skilled and Trained Technicians
The operation and maintenance of video measuring systems require specialized skills and training. Finding skilled technicians and operators who can effectively use these systems can be a challenge for some companies. In addition, the rapid technological advancements in the field may necessitate continuous training and skill development. This skill shortage can hinder the adoption and utilization of video measuring systems, especially in regions where the workforce lacks the necessary expertise. Addressing this challenge requires investing in training programs and education to develop a skilled workforce capable of harnessing the full potential of these systems.
This global video measuring system market, report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global video measuring system market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In September 2021, Atlas Copco acquired AEP to strengthen their capabilities for the growing market and better serve their customers to improve the customization and video measurement softwares systems
- In July 2021, Nikon Corporation signs joint development agreement with Sharp Corporation to accelerate innovation in the implementation technology of biomimetic and video measuring software
Global Video Measuring System Market Scope
The global video measuring system market is segmented on the basis of offering, product type, type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
Offering
- Hardware
- Cameras
- Sensors
- Lighting System
- Processors
- Others
- Software
- Services
Product Type
- Manual Video Measuring System
- Automated Video Measuring System
- Semi-Automated Video Measuring System
Type
- 2D
- 3D
Application
- Electronics
- Automotive
- Aerospace
- Defense
- Heavy Machinery Industry
- Medical and Energy
- Power
Global Video Measuring System Market Region Analysis/Insights
The global video measuring system market is analysed and market size, volume information is provided by country, offering, product type, type and application as referenced above.
The countries covered in the global video measuring system market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Asia-Pacific region dominates the global video measuring system market and will continue to flourish its trend of dominance during the forecast period of 2023 to 2030, due to the rising adoption of new and advanced technologies in order to enhance their business process and increasing adoption of precise measurement advanced technology by manufacturers in APAC.
The country section of the video measuring system market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Video Measuring System Market Share Analysis
The global video measuring system market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to global video measuring system market.
The major players covered in the global video measuring system market report are:
- Hexagon (Sweden)
- Zeiss International (Germany)
- Faro Technologies Inc. (U.S.)
- Mitutoyo Corporation (Japan)
- Nikon India Pvt Ltd. (India)
- Perceptron, Inc (U.S.)
- Renishaw plc (U.K.)
- Keyence Corporation (Japan)
- ADVANTEST CORPORATION (Japan)
- GOM & COMPANY (Germany)
- WENZEL Group (Germany)
- CREAFORM (Canada)
- Zygo Corporation (U.S.)
- Vision Engineering Ltd (U.K.)
- CARMAR (U.S.)
- Dongguan Yihui Optoelectronics Technology Co., Ltd. (China)
- Sipcon (India)
- ACCU-TECH MEASUREMENT SYSTEMS (U.S.)
- OCTUM GmbH (Germany)
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