Placing a certain number of coded points is generally required in the current industrial photogrammetry system. However, many industrial products are not suitable for the arrangement of coded points. This study proposes a novel method of industrial photogrammetry without using coded points. Our method only requires a projection device to project the speckle texture, a scale bar to recover scale, and a multi-angle camera to capture various images of the measured object. A “coarse-to-fine” two-step reconstruction strategy is devised to solve the multi-view geometry with high precision. Moreover, a rotation-free digital image correlation (RFDIC) method is proposed for high-accuracy point-matching between images with large rotational angles. The experimental results verify that the error in measuring the length of scale bar by the RFDIC method is below 0.01 mm/m and the error of the RFDIC method compared with that of the latest commercial point cloud construction method for three dimensional measurement system can reach approximately 0.055 mm, which satisfies the precision requirements of industrial photogrammetry.