CNC Video Measuring Market Report Overview
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The global CNC video measuring market size was USD 86.54 million in 2021. As per our research, the market is expected to reach USD 128.51 million by 2027, exhibiting a CAGR of 6.81% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with CNC video measuring market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels once the pandemic is over.
CNC video measuring systems are cutting-edge solutions that combine the precision of CNC technology with video imaging capabilities. These systems utilize high-resolution cameras and sophisticated software to capture detailed images of components and then automatically measure dimensions, angles, and tolerances with remarkable accuracy. They are widely employed in quality control and assurance processes, enabling manufacturers to verify the quality and consistency of their products, identify defects, and ensure compliance with strict industry standards. CNC video measuring technology is also invaluable in research and development, reverse engineering, and metrology applications, making it a versatile tool in industries where precision measurement is critical.
The growth of the CNC video measuring market size can be attributed to several key factors. Firstly, industries are increasingly emphasizing quality control and precision in their manufacturing processes, driving the demand for advanced measurement solutions. Additionally, as manufacturing becomes more complex and globalized, there is a heightened need for automated and efficient measurement systems that can handle intricate components and reduce human error. Furthermore, advancements in camera technology, image processing algorithms, and CNC automation have made these systems more accessible and cost-effective. The market's growth is also fueled by the increasing adoption of CNC video measuring technology in emerging sectors like medical devices and additive manufacturing, expanding its applications and reach.
COVID-19 Impact: Supply Chain Disruptions Due To Factory Closures and Reduced Operations Impact Measurement Equipment Demand
The COVID-19 pandemic significantly impacted the CNC video measuring sector. Initially, the industry experienced disruptions in the supply chain due to factory closures and logistical challenges. Many manufacturers temporarily halted or reduced their operations, affecting the demand for measurement equipment. Additionally, travel restrictions and social distancing measures hindered on-site installations and support services. However, the pandemic also highlighted the importance of automation and remote capabilities in manufacturing. As companies sought ways to adapt to the new normal, there was a growing interest in CNC video measuring systems, which offered remote operation and reduced the need for physical presence. This shift in focus towards automation and remote solutions accelerated the adoption of CNC video measuring technology in the long run, positioning it as a vital tool for resilient and adaptable manufacturing processes in a post-pandemic world.
Latest Trends
"Integration Of Artificial Intelligence (AI) And Machine Learning (ML) A Notable Trend Industry"
One notable trend in the CNC video measuring industry is the integration of artificial intelligence (AI) and machine learning (ML) into measurement systems. Manufacturers are launching new products and technologies that leverage AI/ML algorithms to enhance measurement accuracy and efficiency. These systems can automatically detect anomalies, adapt measurement strategies, and provide real-time feedback for quality control, reducing human intervention. Leading players in the market are actively investing in research and development to stay at the forefront of this trend. They are incorporating AI/ML capabilities into their existing CNC video measuring solutions or introducing entirely new products that emphasize smart, data-driven measurement processes. This innovation is driven by the increasing demand for advanced analytics, predictive maintenance, and process optimization in manufacturing, making AI-powered CNC video measuring systems a competitive advantage for companies aiming to meet the evolving needs of the industry.
CNC Video Measuring Market SEGMENTATION
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- By Type
Depending on market given are types: Horizontal, Vertical.
The Horizontal type will capture the maximum market share through 2028.
- By Application
The market is divided into Mechanical, Electronic, Injection Molding & Others based on application.
The market players in cover segment like Mechanical will dominate the market share during 2022-2028.
Driving Factors
"Increasing Complexity Of Manufactured Components to Drive Growth In The Market"
One significant driving factor behind the CNC video measuring market growth is the increasing complexity of manufactured components and the demand for higher precision. Industries such as aerospace, automotive, and electronics are continually pushing the boundaries of engineering, requiring intricate and tightly tolerance parts. CNC video measuring technology excels in meeting these demands by providing automated, accurate, and repeatable measurements of complex geometries. As the manufacturing landscape evolves towards more intricate designs and smaller tolerances, companies are compelled to invest in advanced measurement solutions like CNC video measuring systems to ensure product quality, compliance with industry standards, and competitiveness in the global market, thus propelling the market's expansion.
"Efficiency In Manufacturing Processes to Fuel Growth In The Market"
Another key driver of the market growth is the increasing emphasis on cost-effectiveness and efficiency in manufacturing processes. Manufacturers are constantly seeking ways to reduce production costs, minimize waste, and optimize resource utilization. CNC video measuring systems play a pivotal role in achieving these goals by streamlining inspection and quality control processes. Their automation capabilities not only reduce labor costs but also enhance throughput and productivity. Additionally, the ability to collect and analyze measurement data in real-time allows for quicker decision-making and process improvements. In an era of fierce global competition, the adoption of CNC video measuring technology has become instrumental in helping companies achieve leaner, more cost-efficient, and competitive manufacturing operations.
Restraining Factor
"High Initial Capital Investment to Pose A Restraint On The Growth Of The Sector"
One restraining factor affecting the sector’s growth is the initial capital investment required for the acquisition and implementation of these systems. CNC video measuring technology involves high-quality cameras, precision machinery, and advanced software, which can result in a significant upfront cost for businesses, particularly smaller manufacturers. This financial barrier may deter some companies from adopting these systems, especially if they are operating on tight budgets. However, it's essential to consider the long-term benefits of increased accuracy, reduced rework, and improved quality control that CNC video measuring offers, as it can ultimately outweigh the initial investment and contribute to cost savings and improved competitiveness over time.
CNC Video Measuring Market Regional Insights
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"Asia Pacific to dominate the Market due to the Adoption Of Advanced Manufacturing "
The leading region in the CNC video measuring market share is Asia Pacific. This region has emerged as a powerhouse for manufacturing, particularly in countries like China, Japan, South Korea, and India. Asia Pacific not only holds a significant market share but is also expected to witness the fastest growth rate in the coming years. Several factors contribute to this dominance, including the expansion of industries such as automotive, electronics, and aerospace, which rely heavily on precise measurement technology. Additionally, the adoption of advanced manufacturing practices and the increasing emphasis on quality control in this region are driving the demand for CNC video measuring systems, positioning Asia Pacific as a pivotal player in the market's ongoing expansion.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- Micro Vu (U.S.)
- Mitutoyo (Japan)
- Dongguan Yihui (China)
- Carmar Technology (Taiwan)
- Keyence (Japan)
- Bowers Group (U.K.)
- OGP (Optical Gaging Products) (U.S.)
- Nikon (Japan)
- Mahr GmbH (Germany)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 86.54 Million in 2021 |
Market Size Value By |
US$ 128.51 Million by 2027 |
Growth Rate |
CAGR of 6.81% from 2021 to 2027 |
Forecast Period |
2021-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the CNC video measuring market expected to touch by 2027?
The global CNC video measuring market size is expected to reach USD 128.51 million by 2027.
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What CAGR is the CNC video measuring market expected to exhibit by 2027?
The CNC video measuring market is expected to exhibit a CAGR of 6.81% by 2027.
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Which are the driving factors of the CNC Video Measuring market?
The driving factors of the CNC Video Measuring market are the increasing complexity of manufactured components & demand for higher precision and increasing emphasis on cost-effectiveness & efficiency in manufacturing processes.
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Which are the key players or most dominating companies functioning in the CNC Video Measuring market?
The dominating companies in the CNC Video Measuring market are Micro Vu, Mitutoyo, Dongguan Yihui, Carmar Technology.