Global Video Measuring System Market Major Trends And Growth Drivers

LANDON, GREATER LANDON, UK, June 21, 2024 /EINPresswire.com/ -- The video measuring system market is poised for significant growth, with the market size expected to increase from $6.31 billion in 2023 to $7.2 billion in 2024, reflecting a compound annual growth rate (CAGR) of 14%. This growth is driven by the rising demand for precise measurement tools in manufacturing and quality control processes across various industries. The market is anticipated to continue its upward trajectory, reaching $11.46 billion by 2028, growing at a CAGR of 12.3%. Key drivers include the adoption of Industry 4.0 practices, automation, improved software capabilities, and the increasing complexity of manufacturing components.

Rising Adoption of Smart Manufacturing Fueling Market Growth
Smart manufacturing, characterized by computer-integrated processes and advanced digital technologies, is a major catalyst for the video measuring system market. These systems play a crucial role in providing accurate and automated non-contact measurements, ensuring quality control and precision in production. According to a survey by Rockwell Automation, Inc., the adoption of smart factory technologies has seen a significant 50% year-over-year growth, underscoring the industry's shift towards digital transformation and automation.

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Key Players and Technological Advancements
Major companies such as Carl Zeiss AG, Hexagon AB, and Cognex Corporation are leading the charge in developing innovative products with advanced technological solutions. For instance, QATM launched the Qeye 800, an advanced optical analysis and measurement system tailored for precise examination and measurement tasks, including standardized weld seam inspection. Such innovations enhance product capabilities and bolster market competitiveness.

Trends Shaping the Future of Video Measuring Systems
Advancements in camera technology, integration of artificial intelligence for enhanced measurement accuracy, and the adoption of 3D measurement techniques are key trends shaping the video measuring system market. Additionally, improved calibration techniques and customization for specific industries are further driving market evolution.

Market Segments
1. Product Type: Manual Video Measuring System, Automated Video Measuring System
2. Offering: Hardware, Software, Services
3. Application: Automotive, Aerospace and Defense, Heavy Machinery, Energy and Power, Electronics, Medical, Other Applications

Regional Insights: Asia-Pacific Leading the Market
Asia-Pacific emerged as the largest region in the video measuring system market in 2023 and is expected to maintain its dominance throughout the forecast period. The region's growth is driven by rapid industrialization, technological advancements, and the presence of key market players.

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Video Measuring System Global Market Report 2024 from TBRC covers the following information:
1. Market size data for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Video Measuring System Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on video measuring system market size, video measuring system market drivers and trends, video measuring system market major players, competitors' revenues, market positioning, and market growth across geographies. The video measuring system market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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