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Optical Metrology Market Size, Share, Trends, Competitive Analysis and Demand by 2023

In modern manufacturing facilities, the process automation plays a key role in economy of scale, along with the productivity and profitability. The lack of skilled work force (especially in the developing countries), growing pressure to match international quality standards, in addition with high error rate in existing measuring equipment are the predominant growth drivers for the global optical metrology market.
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Image result for Optical MetrologyOptical metrology is a measurement technology, which is used widely to calculate or access unknown quantities. The measurement technology of optical metrology is entirely based on the non-contacting and non-invasive method. The higher efficiency of optical metrology in large volume, along with faster measuring capability are the major growth drivers for the market. Among the various application segments, the automotive sector accounted for the largest market share. The semiconductor and electronics industry is also among the major end users of this technology.
Over the years, the automotive industry has witnessed a lucrative growth, owing to increasing demand of the passenger car from the developing countries. China is the world’s largest producer of passenger car. The optical metrology equipment are widely used for accurate measurement in automotive sector, especially during the requirement of measuring objects in precise having unknown quantities. The growth of automotive sector is expected to continue, even during the forecast period, which in turn is expected to drive the growth of the market in the coming years.
Aerospace industry is also expected to be a lucrative sector for optical metrology, during the forecast period. In the aerospace market, aircrafts for civil passenger are expected to double its number by the year 2030, as compared to current market in terms of volume. Moreover, the worldwide increase in the air traffic, the growth of civil aerospace, in addition to replacement of aging aircrafts globally is expected to boost the growth of the market during the forecast period.
Asia-Pacific dominated the optical metrology market, owing to high concentration of end user industries in the region. It is then followed by North America. Asia-Pacific is expected to be the fastest growing market during the forecast period.
Some of the competitors in the global optical metrology market are KLA-Tencor, Nova Measuring Instruments, Nanometrics, Rudolph Technologies, Dainippon Screen Manufacturing and ASML Holding.
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