Global Automated Optical Metrology Market Driven by Rising Demand from Various Industries, to Reach US $1.5 Bn by 2021

Albany, NY -- (SBWire) -- 06/24/2016 --Meticulous inspection, measurement, and quality control are considered imperative for hindrance-free industrial manufacturing processes. It is important for industries to ensure accurate measurements that comply with prevalent international standards. Compliance to international measurement standards is a key factor boosting the global automated optical metrology market.A new report by Transparency Market Research provides an in-depth assessment of the various factors influencing the market for automated optical metrology. The report is titled "Automated Optical Metrology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021," and is available on the company's website for sale.

Automated optical metrology provides a dimensional analysis of objects using light. There are numerous objects with unknown capacities that are difficult to measure physically. The equipment used in optical metrology helps to measure such objects to provide precise measurement results. Additionally, the optical metrology technology is also used for quality control in order to ensure optimal accuracy of the products manufactured. Moreover the growing demand for metrology services from various industries and the subsequent sophistication of services offered have made automation extremely crucial for optical metrology solutions.

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According to the report, the global automated optical metrology market stood at US$0.92 bn in 2014. Exhibiting a CAGR of 7.6%, the market is expected to reach US$1.5 bn by the end of 2021. Automated optical metrology devices do not require human intervention and offer accurate measurement of unknown quantities and objects. The International Bureau of Weights and Measures is one of the key institutions responsible for determining measurement standards for international industries. Industries such as consumer electronics, automotive, medical, aerospace and defense, and other industrial units are required to adhere to such international measurement standards. This is one of the primary factors fuelling demand from the global automated optical metrology market.

By product, the global automated optical metrology market was led by the coordinate measuring machines segment in 2014, accounting for a share of 38%. On the basis of application the market was dominated by the automotive segment, which held over 30% of the market in 2014.

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Regionally, Europe held the largest share in the global automated optical metrology market, followed by North America in 2014. However, in the near future, enterprises operating in the optical metrology market will witness a huge scope for expansion in Asia Pacific and Rest of the World. "Not many companies have ventured into the emerging nations in Asia Pacific and Rest of the World, which provides lucrative prospects for both established and new players to enhance their competitiveness in the market," said a TMR lead analyst on the growth opportunities for the market.

Countries such as India, Japan, China, South Africa, and the UAE exhibit attractive opportunities for vendors operating in the global automated optical metrology market. To provide a comprehensive overview of the prevailing competitiveness, the report profiles companies such as ASML Holding NV (Netherlands), KLA Tencor Corporation (U.S.), Nikon Metrology NV (Belgium), Hexagon Metrology, Inc. (Sweden), and Steinbichler Optotechnik GmbH (Germany).

The report segments the global automated optical metrology market as:

Global Automated Optical Metrology Market: By Product Type

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
U.S.
Canada
Mexico

Europe
U.K.
Italy
France
Germany
Rest of Europe

Asia Pacific
China
India
Japan
Oceania (Australia and New Zealand)
Rest of Asia Pacific

Rest of the World (RoW)
Latin America
UAE
South Africa
Others

About Transparency Market Research
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.