Frost & Sullivan: Vision Measuring Machines Market Cites Steady Revenue Inflow despite Sluggish Product Development
- Intense competition among end-user industries creates a substantial market for expensive metrology equipment
MOUNTAIN VIEW, California, May 8, 2012 /PRNewswire/ -- The vision measuring machine rebounded strongly in 2010 caused by the revival of the manufacturing and automotive sectors in North America and Europe and continued strong in 2011 with unit sales of 8,000 to 10,000. In between 2010-2011, most participants witnessed a marked increase in sales, and many reported up to 60 to 70 percent more than average sales.
New analysis from Frost & Sullivan (http://www.testandmeasurement.frost.com), Analysis of the Vision Measuring Machines Market, finds that the market earned revenues of $346.6 million in 2011 and estimates this to reach $456.7 million in 2016. In this research, Frost & Sullivan's expert analysts thoroughly examine the following markets: measuring microscopes, profile projectors and multi-sensor systems.
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The outlook for every market segment is positive, especially for multi-sensor systems, which currently accounts for 69.9 percent of total sales. The escalating competition among end users has made them desirous of offering the best quality of products, creating a significant market for advanced and expensive metrology equipment.
"With a variety of equipment available in all price ranges and with cost being proportional to quality, customers prefer systems that provide the best product within their budgetary allocation," says Frost & Sullivan Research Associate Vigneshwaran Shanmugam. "The major end users of non-contact metrology systems include the electronic and industrial manufacturing segments."
Acknowledging the demand for sophisticated equipment, vision measuring machine manufacturers need to keep raising the bar on technology development. Currently, there is minimal technological progress relating to hardware with most changes restricted to aspects of specification such as accuracy, resolution and speed of measurement.
On the other hand, software manufacturers are making rapid strides in introducing novel algorithms to their solutions portfolio for better speed and performance. To work around this issue, product vendors could collaborate with customers by tailoring their offerings to suit their needs.
"Due to the long shelf-life of the majority of these products, new equipment purchases are few and far between," notes Shanmugam. "Providing software upgrades with sizeable functional upgrades and working closely with end users to develop customized solutions products will help improve sales."
Analysis of the Vision Measuring Machines Market is part of the Test & Measurement Growth Partnership Services program, which also includes research in the following markets: World Non-Contact Dimensional Metrology Market, European Large Scale Micro Metrology Market, World Optical Digitizers and Scanners Markets, and World Coordinate Measuring Machines Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com.
Analysis of the Vision Measuring Machines Market
Corporate Communications – North America
SOURCE Frost & Sullivan
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