Optical Coordinate Measuring Machine Market Size

Optical Coordinate Measuring Machine Market Analysis

• The Optical Coordinate Measuring Machine Market is expected to register a CAGR of 1.85% over the forecast period. A major driver for increased quality control has been the advent of Industry 4.0, a radical approach to production, where quality control has become a significant process. Therefore, automated measurement solutions in the wake of the Industry 4.0/digital transformation shift have enabled tight control of production processes.
• The need for continuous measurements due to industries' shift to smart/digital manufacturing is also developing a requirement for CMMs. Industries, such as automotive, aerospace and defense, electronics, and semiconductors, witnessed increasing complexity of devices and demand for precise measurements due to smart devices. The growing manufacturing in these sectors will be the primary revenue stream for vendors in the market studied during the forecast period.
• Multi-sensor capability CMMs, on the other hand, emerged wherein different sensor technologies in a single measuring equipment solution allow part topology and geometrical part features to be inspected in a single part inspection set-up. Using tactile, optical, and laser sensors integrated into a single measurement platform offers an extension to measurement capabilities.
• For instance, in March 2021, Hexagon's Manufacturing Intelligence division introduced a new coordinate measuring machine (CMM) that overcomes challenges expected in measuring delicate components such as smartphone camera lens assemblies, allowing manufacturers to perform quality inspections four to six times faster than conventional methods while maintaining uncompromising sub-micron accuracy.
• Further, the market is driven by product innovations catering to the needs of manufacturing industry needs. For instance, in February 2022, Made to Measure, a prominent provider of metrology equipment and services, launched the AccuFLEX series of coordinate measuring machines (CMMs). The new machine line, which is built in the United States, includes bridge, shop floor, horizontal, and gantry variants to service a variety of industries and applications.
• The CMM's adaptability allows manufacturers to evaluate various components using multiple sensor technologies such as touch-trigger and scanning contact probes, noncontact laser/vision sensors, and roughness sensors. Further, there are also a variety of CMM software solutions available to handle human or automated measurements and simple surface scanning and 3D modeling.
• The global trends in stationary CMM were witnessing steady growth with demand predominantly from automotive and aerospace industries. However, disruption caused by the COVID-19 pandemic resulted in demand contraction across these industries. The US industrial production saw a massive decline in April 2020, as the COVID-19 pandemic led many factories to slow operations or shut down completely in compliance with state regulations. As per Federal Reserve's Industrial Production and Capacity Utilization, the manufacturing output was hit hard, dropping by 13.7% over March, the steepest fall in the 101-year history of the industrial production index in the country. Reportedly, the automobile, fast-moving consumer goods, and pharma sectors were hit majorly because of supply issues in China.