Industrial Microscope Market Growth Boost by Emergence of AR Microscopes and Future Technologies
New York, US, Dec. 08, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Industrial Microscope Market: Information By Industry Vertical and Region - Forecast till 2030”, asserts that the global industrial microscope market reached a valuation of USD 1398.5 MN in 2021, which is expected to grow further at a 5.8% CAGR during 2022-2030.
Industrial Microscope Market Overview
The global industrial microscope market is growing rapidly, witnessing notable demand across major industries. The growing need to simplify manufacturing processes drives the industrial microscope market. These microscopy devices find extensive applications in the electronics and semiconductor industries. Government initiatives to promote future industries and build future industrial clusters boost market revenues.
Considering global technological & industrial changes and advantages in industrial innovation & development, the market is expected to gain phenomenal growth over the next few years. The growing governmental focus on developing intelligence, energy, space, and materials industries, boosts market growth. In semiconductor and electronic equipment manufacturing, the quality control (QC) process is essential to ensure defect-free products that meet specifications and comply with international standards. Therefore, semiconductor and electronics manufacturers rely heavily on industrial microscopes to optimize product inspection.
Active players in the industrial microscope market are,
Carl Zeiss AG
Thermo Fisher Scientific
Oxford Instruments Plc.
Radical Scientific Equipments Pvt. Ltd.
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Industrial microscopes can perform repetitive, 2D measurements to improve quality control and inspection operations during production, which are required to obtain results complying with the latest industrial standards. With their easy-to-use imaging and measurement tools, industrial microscopes provide robust data sharing and security features that can be easily exported across the organization.
Industrial Microscope Market Competitive Analysis
The industrial microscope market appears widely expanded and highly competitive due to numerous major players operating at the international and regional levels worldwide. The market is likely to witness fierce competition, with the expected extensions in products, services, and innovations. Industrial microscope manufacturers strive to develop their devices with adept technologies and unrivaled designs & features.
For instance, on Aug.23, 2022, Olympus Corp (Japan), a microscope producer, announced its plan to sell its microscope unit to Bain Capital, a private equity firm, for US$2.2 BN. The unit makes microscopes, industrial endoscopes, and x-ray analyzers. On Apr.26, 2022, Olympus launched its augmented reality microscope, SZX-AR1, which can simplify manufacturing processes.
The SZX-AR1 system easily retrofits existing Olympus SZX series stereo microscopes and enables simplified complex microscope-based manufacturing tasks and assembler training. The new system can be used to view manufacturing project annotations, images & videos, and more in a stereo microscope's field.
Market Size by 2030
2030: Significant Value
CAGR during 2022-2030
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Key Market Opportunities
Need for high end microscopes in various end use industries
Key Market Drivers
Growing Semiconductor Industry
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Industrial Microscope Market Industry Trends
In the electronics industry, microscopes are used for various activities, including visual inspection of printed circuit boards, semiconductor wafers, or liquid crystal boards, and studying metal objects. In industrial applications, microscopes are essential for measuring, quality control, inspection, soldering, and manufacturing.
Industrial microscopes allow high-definition picture quality while providing unique solutions for the inspection process. Industrial inspection microscopes suit a wide range of analytical applications, including regular inspection to advanced analysis. The chip industry uses leading lithography optics to manufacture semiconductor components.
Microscopes are also used in agricultural, medicinal, and automobile part manufacturing to monitor the whole production process, improve output & quality, and reduce overall manufacturing costs. While machine vision helps automate the fast examination of a range of items, many process components still require microscopic monitoring.
Nanoscale materials exhibit unique properties essential to advancing various technologies, including magnetic data-storage systems to superconducting quantum computers and biomaterials & biomedical applications. To study and use Nanoscale materials, microscopes are required to examine atomic levels while minimizing any disturbance in their structures.
Electron microscopy uses electron beams to monitor the fundamental structures of nanoscale materials. These microscopes are used for quality assurance in industrial metrology, life sciences & materials research, and medical technology solutions. With the growth in digitalization and smart production, the use of industrial microscopes is estimated to increase to develop, produce, and distribute highly innovative solutions.
Increased funding by the public and private sector for life science research studies and the expansion of the semiconductor industries in most emerging nations offers significant market opportunities. Increasing research and development activities initiated by governments, schools, universities, and research institutions across developing regions have fuelled the growth of the market.
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Industrial Microscope Market Segments
The industrial microscope market is segmented into industry verticals and regions. The industry vertical segment is sub-segmented into semiconductor & electronics, automotive & transportation, metal & materials, machinery & equipment, aerospace & defense, and others. The region segment is sub-segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and the Rest-of-the-World.
Industrial Microscope Market Regional Analysis
North America dominates the global industrial microscope market. The growing governmental focus on accelerating the resiliency of the electronic industry and reliable, trusted, and cyber-secure supply chains substantiate the region's market shares. Furthermore, increasing focus on R&D, production, and investments to upgrade technologies boost the market size.
The semiconductor industry holds strategic importance for the US for the development of the US economy and national security. With the growing semiconductor industry, the US accounts for the leading share in the regional market. This increasing demand for semiconductors in the US has been the major growth propeller for the industrial microscope market.
The industrial microscope market in the Asia Pacific region is growing rapidly. The low manufacturing cost of industrial microscopes and market players exploiting the scale of the semiconductors in this region substantiate market revenues.
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Moreover, growing innovations and research in the semiconductor field foster market growth. The growing focus of governments on developing and innovating semiconductor technology creates a vast market demand for industrial microscopes.
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