Vision Measuring Machines Market Sees Intense Competition and Steady Revenue
New analysis of the vision measuring machines market from Frost & Sullivan , 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.
The outlook for every market segment is positive, especially for multi-sensor systems, which currently accounts for 69.9 % 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.
For more information on this research, please send an email to Jeannette Garcia, Corporate Communications, at firstname.lastname@example.org , with your full name, company name, job title, telephone number, company email address, company website, city, state and country.