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The global 3D scanner market was valued at USD 924 million in 2021 and is projected to reach USD 1,324 million by 2026; growing at a CAGR of 7.5% from 2021 to 2026.
A few key factors driving the growth of this market are increased R&D spending on 3D metrology, focus on quality control while manufacturing goods, and demand for higher productivity by electronics manufacturing services companies. Factors such as increasing adoption of cloud computing services and surging demand for industry 4.0 are expected to provide growth opportunities to players in the 3D scanner market.
The 3D scanner market for laser scanner is expected to grow at the highest CAGR from 2021 to 2026
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Cuts Backs On Capital Spending in the Wake of COVID-19 Thwarts All Hopes of Growth for Titrators. Market Slumps by -6%.
The global market for Titrators (Automatic and Manual) is expected to slump by -6% in the year 2020 and thereafter recover and grow to reach US$470.5 million by the year 2027, trailing a post COVID-19 CAGR of 4.4% over the analysis period 2020 through 2027. CAPEX cuts in the COVID era have become increasingly common and widespread.
Global decline in demand for manufactured goods and services has forced companies to reprioritize spending and focus on cash liquidity position. Hard hit companies in oil and gas, chemicals and utilities sectors are cutting CAPEX at high rates in addition to cutting dividends and/or suspending share repurchases in an attempt to conserve cash.