The 3D Metrology market is projected to grow significantly, reaching a value of US$ 22.71 billion by 2031, up from US$ 11.56 billion in 2023, reflecting an estimated compound annual growth rate (CAGR) of 8.8% from 2023 to 2031.

The report on the 3D metrology market highlights the primary factors propelling market growth and the advancements made by leading companies. The Asia-Pacific (APAC) region, which includes nations such as China, Japan, South Korea, India, Australia, and others, is experiencing a surge in demand for electronic products globally. This rising demand is driving the need for enhanced productivity within the electronic manufacturing sector. Consequently, various countries in the region are implementing initiatives to bolster their manufacturing capabilities. For instance, as reported by Nikkei Inc., the Chinese government has invested approximately US$ 327 billion by 2023 to develop its domestic electronics market. Similarly, the Indian government is also focused on expanding its electronics sector. The Indian budget for 2023-2024 allocated US$ 200 million to the Ministry of Electronics and Information Technology, representing a 40% increase from the previous year. Additionally, the Indian government has introduced several schemes to stimulate the electronics industry, including the Production Linked Incentive (PLI) Schemes, the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), and the Modified Electronics Manufacturing Cluster (EMC 2.0) Scheme. These government initiatives are anticipated to significantly contribute to the growth of the 3D metrology market in the APAC region.

Moreover, the region is witnessing a growing adoption of electric vehicles (EVs), driven by various government policies aimed at promoting EV usage. The Association of Southeast Asian Nations (ASEAN) has established favorable policies to support the adoption of EVs. According to the International Renewable Energy Agency (IRENA), it is estimated that around 20% of vehicles in Southeast Asia will be electric by 2025, which includes approximately 59 million two-wheelers and three-wheelers, along with 8.9 million cars. Furthermore, countries like India, South Korea, Taiwan, and Vietnam are actively working to attract businesses looking to relocate their automotive manufacturing operations due to lower labor costs. These countries are offering tax incentives, funding, and subsidies to entice more manufacturing companies to establish their facilities. Additionally, numerous EV manufacturers are expanding their production capacities to meet the increasing consumer demand. For example, in March 2023, BYD, a Chinese EV manufacturer, announced the commencement of construction for a new EV manufacturing plant in Thailand, which is expected to produce 150,000 passenger cars annually starting in 2024. This growing trend in EV adoption is likely to drive the demand for 3D metrology, further propelling market growth during the forecast period.

The analysis of the 3D Metrology market has been conducted by examining various segments, including product type, application, and end-user categories.

In terms of application, the 3D Metrology market is divided into segments such as reverse engineering, quality control and inspection, virtual simulation, and others. Quality control and inspection are crucial throughout the production process to ensure product quality consistency and adherence to strict manufacturing standards. This aspect necessitates the use of highly accurate measuring devices, leading to an increased demand for 3D scanners, which are particularly valuable in quality control applications on the shop floor. 3D scanners are cost-effective, provide rapid measurements, require minimal handling, programming, and training, and help optimize the use of coordinate-measuring machines (CMMs) for critical inspections. They alleviate bottlenecks and reduce the burden on traditional CMMs, thereby driving their demand in the market.

Additionally, the automotive industry is a significant driver of growth for the 3D metrology market, as there is a rising demand for precision in manufacturing processes. The automotive sector places a strong emphasis on quality control to ensure optimal component compatibility and performance. Manufacturers are continuously seeking innovative solutions to meet high standards of precision, traceability, and reproducibility. Metrological tools are increasingly favored in the automotive industry due to their ability to provide accurate measurements and consistent data, which are essential for maintaining a well-regulated production line. Other metrological solutions utilized in this sector include coordinate metrology, vision measurement devices, and 3D optical metrology. Thus, the growing integration of various metrological tools within the automotive industry is significantly contributing to the segment's market growth.

Key players in the 3D metrology market include Hexagon AB, Nikon Metrology NV, Creaform Inc, FARO Technologies Inc, Artec Europe, Intertek Group Plc, Mitutoyo Corporation, KEYENCE CORP, Shining3D, and ZEISS, among others.

The forecast for the 3D Metrology market is based on a combination of extensive secondary and primary research findings, including key company publications, industry association data, and relevant databases. Comprehensive secondary research has been conducted using both internal and external sources to gather qualitative and quantitative insights related to the growth of the 3D Metrology market. This process aids in forming an overview and forecast of the market across all segments. Additionally, numerous primary interviews have been conducted with industry stakeholders to validate the data and gain analytical insights. This includes discussions with industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the 3D Metrology market.