Metrology Market Scenario:
The metrology market is exhibiting considerable growth against the backdrop of rapid technological advancements and evolution of metrology products. The global metrology market is anticipated to expand at a CAGR of 6.82% over the forecast period of 2016-2027, predicts Market Research Future (MRFR) in a recently published comprehensive study.
As diverse industries are embracing automation, standardization, and high-tech solutions, it has paved the way for the expansion of the metrology market. The increasing significance of measurements in aerospace, military, energy and power, manufacturing, and automotive is resonating strong growth within the Metrology Market. The growing emphasis on quality in various industrial products, processes, and services is key to market growth.
Fast-track industrialization across the globe, especially growth in industries such as automotive and aerospace, where accuracy is of paramount importance, has reflected favorably on market growth. In addition, such industries are subject to various stringent regulatory norms to ensure the reliability of products and services which makes metrological solutions highly demanded. Moreover, these industries are increasingly deploying technically advanced metrology devices for measurement purposes which are also fueling the growth of the market.
On the contrary, the growth of the market can be impeded by the high cost of metrological equipment, maintenance, and updates. Meanwhile, the emergence of 3D scanners and growing popularity of portable handheld optical metrology devices which facilitate quick, reliable, and convenient measurements are likely to provide attractive growth opportunities to the market.
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Nikon metrology (Belgium), 3D Digital Corporation (U.S.), Carl Zeiss (Germany), Pantec metrology (Germany), Perceptron Inc.(U.S.), metrology software product Ltd.(U.K.), Mitutoyo Corp.(U.S), Hexagon AB (Sweden), Faro Technologies (U.S.), and Renishaw (U.K.) are noteworthy players in the metrology market.
The global metrology market has been segmented based on type, product, and end user.
- By type, the metrology market has been segmented into industrial metrology, scientific metrology, and legal metrology. The industrial metrology segment is expected to grow at the fastest rate of 8.71% over the forecast period and reach USD 878.51 Mn by the end of 2027.
- By product, the metrology market has been segmented into CMM (coordinate measuring machine), optical digitizers, 3D scanners, and Laser tracker. The coordinated measuring machine (CMM) segment is expected to reach a market valuation of 848.93 Mn at a CAGR of 8.02% by the end of the forecast period.
- By end user, the metrology market has been segmented into aerospace, automotive, consumer electronics, industrial, and energy & power. The manufacturing segment is estimated to expand at the highest CAGR of 9.97% over the forecast period and accumulate USD 395.46 Mn.
By region, the metrology market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
Europe is the leading metrology market and is spurred by continued technological progress and increasing support from the government.
Within the context of rapid industrialization, the APAC metrology market is envisioned to showcase substantial growth over the forecast period. Additionally, technological advances in the region, economic upturn, and expansion of end-use industries are auguring well for the market. The burgeoning electronics and automotive industry extensively use 3D metrology system which contributes to the growth of the market. Consolidation of the manufacturing sector in the APAC region is also creating a supportive base for the growth of the market. China, India, and other emerging economies are the key contributors to the APAC market.
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May 2019 – InnovMetric Software Inc., leading provider of universal 3D metrology software solutions, launched a new PolyWorks Metrology Suite. The new release includes new object measurement scripts which open new opportunities for all custom measurement techniques.
April 2019 – Nanometrics Incorporated, provider of process control metrology and inspection systems, announced a new platform for advanced process control metrology, Atlas III+. The platform is a unique combination of spectroscopic ellipsometry (SE) with full Mueller Matrix capability and broadband reflectometry (SR) which helps in delivering industry-leading metrology performance.
Table of Contents
1.2 Scope of the Study
1.2.1 Research Objective
1.3 Market Structure
2 Research Methodologies
2.1 Research Process
2.2 Primary Research
2.3 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
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List of Tables
Table 1 Global Metrology Market, By Type, 2016-2027 (Usd Million) 26
Table 2 Global Industrial Metrology Market, 2016-2027 (Usd Million) 27
Table 3 Global Scientific Metrology Market, 2016-2027 (Usd Million) 28
List of Figures
Figure 1 Global Metrology Market Structure 10
Figure 2 Mrfr Research Process 11
Figure 3 Global Metrology Market: Drivers & Restraint 14
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