“The 3D metrology market smart home market is projected to grow at a CAGR of 10.48.4% during 2022–2027”

The 3D metrology market is projected to grow from USD 10.6 billion in 2022 and is projected to reach USD 15.9 billion by 2027; it is expected to grow at a CAGR of 8.4 % from 2022 to 2027.

The growing use of 3D data for modeling and analysis in various industries, increased research and development (R&D) investments in 3D metrology is expected to fuel the growth of the 3D metrology market. The factors such asincreasing disposable income of people in developing countries, increasing importance of home monitoring in remote locations, expansion of smart home product portfolio by a large number of players are driving the growth of the smart homemarket. However, concerns associated with breach in security and privacyis the keyhigh cost associated with setting up 3D metrology facility is a prominent factor limiting the growth of the 3D metrology market.smart home market

“Market for smart furniture is expesemiconductors & electronics end-user industry segment to grow at the hig hestst CAGR during the forecast period.”

3D metrology solutions are widely used across consumer and industrial electronics sectors to ensure the quality of parts and products, ranging from actuators, smartphone enclosures, and lead frames to sensors, speakers, smart home devices, and white goods. With the miniaturization and increasing intricacy of electronics components, the importance of ensuring the adherence of certain parameter measurements to specific standards is growing. The quality control processes that are becoming fundamental and complex also contribute to this need to meet the specification, thereby creating an increased demand for 3D metrology offerings during the forecast period.

“Market for proactive type software and services software segment is expected to witness significant growth during the forecast period”

The software segment is expected to witness significant growth in the 3D metrology market during the forecast period. Various companies are utilizing 3D metrology software to enhance their manufacturing processes. PCM INNOVATION (PCM) (Canada) is one such company. The company designs and manufactures assembly lines, fixtures, and molds for high-precision parts. Its customers are world leaders in the aviation and transportation sectors. Most of the parts that PCM manufactures have tolerance deviations in the thousandth of an inch. To mitigate issues related to temperature differences, PCM relies on FARO BuildIT Software coupled with the FARO Vantage Laser Tracker. BuildIT Metrology Software is a CAD-to-part inspection solution that enables quick and easy dimensional verification of manufactured parts and assemblies for tool building, assembly, alignment, process automation, reverse engineering, and quality control.The proactive type software and services are expected togrow at a faster rate during the forecast period.  The proactive type enables transfer of a higher volume of data than the behavioral type as it can provide the inputs to the end users regarding effective energy usage and required actions on the physical parameters to reduce energy consumption. The algorithms associated with the proactive type can also perform comparative analyses of the energy usage patterns based on the time of the day, historical data, and weather conditions. Proactive solutions are more beneficial than the behavioral type as they send recommendation signals to end users to take necessary actions to reduce energy consumption; further, based on the users’ actions, the measures to control the electronic devices can be implemented.Proactive solutions are more beneficial as they can also send recommendation signals to end users for taking necessary energy reduction actions and can then control the electronic devices based on the users’ actions.Several proactive solutions are equipped with displays and web software packages, which provide additional information to the consumers, such as trends in energy usage, along with the information pertaining to household baseline energy usage, alarms, and goal tracking.Due to the benefits  offered by the proactive type over behavioral, they are likely to be adoped to a larger extent in the smart home products in the coming years.

“Smart home 3D metrology market for lighting control medical end-user industry segment to exhibit significant growth by 2027” ”

The 3D metrology market smart home market for medical end-user industry segment is expected to exhibit significant growth by 2027. In the medical industry, 3D metrology plays an important role in the designing and manufacturing of medical equipment as per specifications. The industry uses 3D scanning technology for orthopedics and prosthetics, as well as for the manufacture and improvement of medical devices for dental purposes. There is a wide range of products and technologies in the medical field that uses 3D laser scanners and optical scanners. 3D inspection of dental implants is also a part of this application. 3D metrology solutions are also used for the precise measurement of soft tissue surface; this data is used by surgeons for analysis.

“Europe to hold a significant share of the data center interconnect smart home market during the forecast period”

Europe is expected to hold a significantly large share for 3D metrology smart home market during the forecast period. The growing demand from the automotive industry and the improving electronics and heavy machinery sectors are expected to drive the 3D metrology market during the forecast period. Europe is home to leading 3D metrology manufacturers such as CARL Zeiss (Germany), Hexagon (Sweden), Renishaw (UK), and end GOM (Germany). The major countries contributing to the market in the Rest of Europe include Sweden, Russia, Belgium, and the Netherlands.A large population of technology enthusiasts in European countries such as the UK and Germany, prominent smart home product-manufacturing companies, growing awareness about residential energy conservation systems, and rising demand for lighting controllers are the key drivers for the growth of the smart home market in Europe. Several major companies operating in the smart home market are based in Europe such as ABB (Switzerland), ASSA ABLOY (Sweden), Legrand (France), Robert Bosch (Germany), Schneider Electric (France), and Siemens (Germany), among others, which are focused towards developing innovative smart home solutions. Moreover, the EU has a high GDP rate, along with a high standard of living, which makes adoption of smart homes and related products affordable to consumers. Consumers in the EU are aware of the benefits of smart homes and the need for power efficiency. These factors have paved the way for increased adoption of smart home solutions in the region.

In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the 3D metrology space. The break-up of primary participants for the report has been shown below:

• By Company Type: Tier 1 – 40%, Tier 2 – 4040%, and Tier 3 – 200%
• By Designation: C-level Executives – 40%, Directors –4040%, and Others – 200%
• By Region: North America –440%, APAC– 330%, Europe – 2200%, and RoW – 1010%

The report profiles key players in the 3D metrology market smart home market with their respective market ranking analysis. Prominent players profiled in this report include Hexagon (Sweden), FARO Technologies (US), Nikon Corporation (Japan), ZEISS Group (Germany), KLA Corporation (US), KEYENCE (Japan), Jenoptik (Germany), Renishaw (UK), Mitutoyo Corporation (Japan), Creaform (Canada), GOM (Germany), CHOTEST TECHNOLOGY INC. (China). Apart from these, CyberOptics Corp. (US), Trimble, Inc. (US), SGS Group (Switzerland), Ikustec (Spain), Perceptron, Inc (US), 3D Systems (US), Automated Precision, Inc. (API) (US), CARMAR ACCURACY CO., LTD (Taiwan), Intertek Group Plc (UK), Bruker (US), Shining 3D (China), InnovMetric Software Inc (Canada), Artec 3D (US), Metrologic Group (Sweden), AccuScan (Ireland), Capture 3D (US), Polyrix (Canada) are among a few emerging companies in the 3D metrology market.

Research Coverage:

This research report categorizes the 3D metrology smart home market on the basis of offering, product type, application, end-user industry and region. product, software & services sales channel, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the 3D metrology market smart home market and forecasts the same till 2027 (including analysis of COVID-19 impact on the market). Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the3D metrology smart home ecosystem.

Key Benefits of Buying the Report

The report would help leaders/new entrants in this market in the following ways:

• This report segments the 3D metrology market smart home market comprehensively and provides the closest market size projection for all sub segments across different regions.
• The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
• This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
• The analysis of the top32 companies, based on the market rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
• Patent analysis, trade data, and technological trends that will shape the market in the coming years has also been covered in this report.