According to a new report, published by KBV research, The Global Shape Measuring Devices Market size is expected to reach $1.9 billion by 2029, rising at a market growth of 4.8% CAGR during the forecast period.
The 3D segment is showcasing a CAGR of 5.2% during (2023 - 2029). This is because a topographical shape measurement device calculates an object's length, width, and height. It can also be used to establish the depth of an object. The rising use of three-dimensional metrology solutions for numerous applications, such as grinding, computerized numerical control (CNC) machining, and assembly, is predicted to boost the segment's growth in the forecasted period.
The In-store segment acquired maximum revenue share in the Global Shape Measuring Devices Market by Sales Channel in 2022 thereby, achieving a market value of $1.4 billion by 2029. This is because traditional distribution techniques that entail direct contact between the customer and distributor make up the in-store channel. Both experts and regular customers frequently acquire shape measuring gadgets using the in-store method, as such stores allow a real-time feel of the product and also allow them to know how it works and its features in real-time from the seller.
The Cutting Tool segment has shown the growth rate of 5% during (2023 - 2029). The growth is attributed to the fact that a cutting tool is a pointed tool that is mounted in a machine tool to cut materials. Lathes and milling machines both use a variety of cutting tools. In addition, due to their exceptional hardness, diamonds can cut other hard materials and are occasionally used in cutting tools. Thus, their wide utilization for cutting through hard surfaces is expected to drive the segment’s expansion.
The Asia Pacific market dominated the Global Shape Measuring Devices Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $684.2 Million by 2029. The North America market is exhibiting a CAGR of 4.6% during (2023 - 2029). Additionally, The Europe market would showcase a CAGR of 4.1% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/shape-measuring-devices-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Alicona Imaging GmbH (Bruker Corporation), Ametek, Inc., Horiba Ltd., Obishi Keiki Seisakusho Co., Ltd., Alpa Metrology S.r.l., QPT Innovative Technik Handels GmbH, Microtrac Retsch GmbH (Verder Scientific GmbH & Co. KG), SmartVision S.r.l, Clemex Technologies Inc. and Scantron Industrial Products Ltd.
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