Digital speckle correlation techniques have already been successfully proven for accurate displacement analysis. With the use of two cameras, three dimensional measurements of contours and displacements can be carried out. The principle of this technique is pretty easy to understood and realized, opening a nearly unlimited range of applications. Rapid new developments in the field of digital imaging and computer technology, especially for very much dynamic applications, opens further applications for these measurement method up to high speed deformation and strain analysis, e.g. in the fields of, material testing, fracture mechanics, high speed testing, advanced materials and component testing. The dynamic range is combined with the capability to measure very large strains (up to more than 100%). The resolution of the deformation in space and time opens a wide range of applications for vibration analysis of objects. Since the system determines the absolute position and displacements of the object in space it is capable of measuring high amplitudes and even objects with rigid body movements, which is a big advantage against full field ESPI systems. The absolute resolution depends on the field of view and is scalable. Calibration of the optical setup is a crucial point which will be discussed in detail. Examples of the analysis of high speed harmonic vibration and transient events out of material research and industrial applications are presented. Results of measurement performed on a vibrating membrane and a tensile test sample are show typical features of the system