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 Transparency Market Research (TMR) 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. Transparency Market Research 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.
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“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.
This 75 page report gives readers a comprehensive overview of the Automated Optical Metrology Market. Browse through Table. Browse through 18 figures and 11 data tables to unlock the hidden opportunities in this market.
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.
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Key Takeaways:
Coordinate measuring machines expected to generate revenue of US$657.6 mn by 2021.
Automotive industry demand for automated optical metrology services by 2021 is expected to generate US$421 mn in revenue.
Rapid increase in automated optical metrology demand from APAC expected to propel this region’s revenue to US$436.9 mn by 2021.
Key Segments of the Global Automated Optical Metrology Market
Global Automated Optical Metrology Market: By Product
Video Measuring Machines
Laser Scanners
Coordinate Measuring Machines
Global Automated Optical Metrology Market: By Application
Automotive
Consumer Electronics
Industrial
Medical
Aerospace & Defense
Global Automated Optical Metrology Market by Geography
North America
Europe
Asia Pacific
Rest of the World
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