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Industrial Metrology Market by Offering, Product, Application, Industry And Geography - Global Forecast to 2023

Industrial Metrology Market: Global Forecast until 2023

  • May 2018
  • 140 pages
  • ID: 5391640
In this report:
The industrial metrology market for hardware is expected to be worth USD ##,##.## million in 2018 and is expected to reach USD ##,##.## million by 2023, at a CAGR of ##.##% between 2018 and 2023.
The industrial metrology market for quality control and inspection is expected to be worth USD ##,##.## million in 2018, and it is expected to reach USD ##,##.## million by 2023 at the highest CAGR of ##.##% during the forecast period.

Summary

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The increasing demand for inspection services from precision manufacturing drives the increase of the industrial metrology market

The industrial metrology market is forecasted to grow from ~$9.6B in 2018 to ~$13.0B by 2023, at a compound annual growth rate (CAGR) of 6.20 percent between 2018 and 2023. The increase big data analytics market and growing demand for inspection services from the precision manufacturing drive the rise of industrial metrology market. Also, rising focus on quality control in different industries also contributes to the increase of this market. Nevertheless, the high cost of setting up metrology facility and lack of expertise needed for efficient handling of metrological systems limit the rise of this market.

The quality control and inspection application maintains the biggest share of the industrial metrology market

Quality control is an integral part of production process as it helps in the smooth functioning of the production, without incurring any extra cost.Under this application, metrological systems are used for alignment, CAD-based inspection, dimensional study, and machine calibration, among others.

Manufacturers embrace a robust inspection process to control quality. Manufacturers use metrology for accurate scanning and inspection review to derive corrective action without slowing down the production.

The automotive sector maintains the most important share of the industrial metrology market

In the automotive market, metrological methods are required for inspection, measurement, and quality check of different components.The automotive sector has been increasingly using optical measurement systems and coordinates measuring machines, instead of conventional strain gauges, accelerometers, transducers, and extensometers for improving the safety and comfort level of vehicles.

Scanning accurately captures freeform surfaces by acquiring thousands of measuring points per second without touching the prototype.

Asia-Pac to hold the biggest share of the industrial metrology market

The increase of the market in Asia-Pacific is attributed to the increasing automotive and manufacturing plants in this area.Furthermore, big funding from governments of several APAC countries in analysis and development, and extensive industrial base are the main contributors to the industrial metrology market in Asia-Pac, with China (CN), South Korea (KR), and Japan (JP) being the main countries providing to the increase.

Also, continuous technological advancements propel the increase of this market.

The breakup of the profile of primary members taking part has been provided below:

• By Company category: Tier 1 = 33 %, Tier 2 = 45.0 percent, and Tier 3 = 22.0 percent

• By Description: C-suite executives = 33.0 percent, Directors = 25.0 percent, and Others = 42.0 percent

• By Area: North America continent = 35.0 percent, EU = 29.0 percent, Asia-Pacific = 24.0 percent, and RoW = 12.0 percent

The main players in the industrial metrology market contain Hexagon, FARO Technologies, Nikon Metrology, Carl Zeiss Optotechnik, Jenoptik, GOM, and Creaform. Other prominent actors are Renishaw, KLA-Tencor, Applied Materials, Perceptron, GoM, Automated Precision, JLM Advanced Technical Services, Precision Products, CARMAR ACCURACY, Pollen Metrology, and Cairnhill Metrology.

Segment Research

The industrial metrology market has been split on the basis of offering, equipment, application, end-user market, and area.The industry established on offering has been further divided into hardware, software, services, and solutions.

On the basis of equipment, the industrial metrology market has been broken down into coordinate measuring machine, optical digitizer and scanner, measuring instrument, X-ray and computed tomography, automated optical inspection, and 2D equipment.On the basis of application type, the sector has been split into reverse engineering, quality control and inspection, mapping and modeling, and other application.

The industrial metrology market established on end-user sector has been divided into aerospace and defense, automotive, manufacturing, semiconductor, and others. On the basis of geography, the industry has been broken down into the Americas, Europe (EU), Asia-Pac, and RoW.

Why Purchasing This Study Can Help You:

The market research would benefit the market top players/new sector entrants in this sector in these ways:

• This report comprehensively segments the industrial metrology market and offers the closest approximations of the sizes of the global market and sub-segments for distinct applications and across several areas.

• The report benefits partners comprehend the pulse of the sector and offers them information on main increase drivers, market restraints, opportunities, and alternatives for the sector.

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