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Industrial Metrology Market by Offering, Equipment, Application, End-User Industry, Region - Global Forecast to 2027

Industrial Metrology Market by Offering, Equipment, Application, End-User Industry, Region - Global Forecast to 2027

  • October 2022
  • 309 pages
  • ID: 5391640
  • Format: PDF
  • MarketsandMarkets

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The industrial metrology market is expected to grow from USD 10.9 billion in 2022 to USD 14.6 billion by 2027, at a CAGR of 6.1%. The most significant factor driving the growth of the industrial metrology market are rising demand for big data analytics, increasing demand for automobiles in emerging economies, surging adoption of hybrid and electric vehicles (EVs), increasing focus on manufacturing superior- and uniform-quality products, and growing demand for quality and inspection equipment in precision manufacturing industry.

Automotive Industry To Exhibit Highest CAGR in industrial metrology market between 2022-2027
The automotive segment to grow at highest CAGR the forecast period of the industrial metrology market, and the same trend is expected to be witnessed during the forecast period.In the automotive industry, industrial metrology is required for conducting inspection, measurement, and quality checks for various components.

Some of the major applications of industrial metrology in the automotive industry are robotics positioning and controlling in production, near-line and in-line inspection and quality check in production, measurement, inspection, and calibration of tooling, jig, and fixture, inspection and alignment of powertrain and vehicle components, automatic car body scanning and inspection, excellent mobility for motorsports application, measurement and scanning in CAD modeling, and reverse engineering of parts.

optical digitizers and scanners to grow at highest CAGR from 2022 to 2027
Various automobile companies are using optical digitizers and scanners for a number of applications.For instance, Mercedes-Benz (Germany) is using Hexagon’s Leica absolute trackers AT960 with LAS-20-80 as they provide a variety of benefits such as battery power options, self-identifying scanners, and multisensory feedback.

Another known company in the industrial metrology market, Jenoptik (Germany), has signed a contract with an automobile supplier HELLA, to provide lLaser optical subsystems for PM2.5 particle sensors. This will be used to measure particles inside automobiles. These advancements exhibit that the demand for optical digitizers and scanners in the automotive industry is increasing at a healthy rate.

Asia Pacific is projected to register highest CAGR for industrial metrology market during forecast period
APAC is projected to grow at the highest CAGR for industrial metrology market during the forecast period.The region has witnessed a high demand for automation since farming is one of the important sectors in Asian countries, including China, Japan, India, Vietnam, and South Korea.

The adoption of industrial metrology technologies, especially drones, is expected to grow at a high rate in APAC as this region comprises technologically advanced countries such as China, South Korea, and Thailand.Developed countries in APAC, for instance, Japan, are focusing more on using driverless tractors.

The rapidly increasing population, availability of arable farms, and government support through subsidies are the major factors fueling the adoption of industrial metrology in APAC. Government initiatives to support the adoption of automation in agriculture has fueled the growth of the industrial metrology market in the region

Breakdown of profiles of primary participants:
• By Company: Tier 1 = 35%, Tier 2 = 45%, and Tier 3 = 20%
• By Designation: C-level Executives = 35%, Managers = 25%, and Others (sales, marketing, and product managers, as well as members of various organizations) = 40%
• By Region: Americas = 45%, Europe=20%, APAC = 30%, and ROW=5%

Major players profiled in this report:
The industrial metrology market is dominated by a few globally established players such as Hexagon (Sweden), Nikon (Japan), FARO Technologies (US), Carl Zeiss (Germany), Jenoptik (Germany), KLA Corporation (US), Renishaw (UK), Mitutoyo Corporation (Japan), KEYENCE CORPORATION (Japan), Creaform (Canada), Precision Products (US), CARMAR ACCURACY (Taiwan), Baker Hughes (US), CyberOptics (US), Cairnhill Metrology (Singapore), ATT Metrology Services (US), SGS Group (Switzerlands), TriMet (US), Automated Precision (US), Applied Materials (US), Perceptron (US), JLM Advance Technical Service (US), Intertek Group (UK), Bruker (US), and Metrologic Group (France).

Research coverage
This report offers detailed insights into the industrial metrology market based on offering Equipment, application, end-user industry, and region.
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the industrial metrology market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.

Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the industrial metrology market and provides them with information on key market drivers, restraints, challenges, and opportunities.

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