Market Research Future (MRFR) has published a cooked research report on the “Global Industrial Metrology Market” that contains information from 2024 to 2032. The Industrial Metrology market is estimated to register a CAGR of 6.50% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Industrial Metrology market— Hexagon AB, Renishaw PLC, FARO Technologies, Nikon Metrology, Carl Zeiss AG, Jenoptik AG, Perceptron, Automated Precision Inc., KLA Corporation, and Applied Materials Inc.
Industrial Metrology Market Highlights
The global industrial metrology market is accounted to register a CAGR of 6.50% during the forecast period and is estimated to reach USD 18.5 Billion by 2032.
Rising demand for industrial metrology solutions in the food inspection industry, the military industry, and for large projects like smart cities is predicted to boost the industrial metrology market. Rising aerospace solution demand, rising availability of high-quality metrology solutions, and expanding metrology awareness are the main factors driving the industrial metrology market. Rising demand for metrology solutions in both the automotive industry and general production is likely to drive the market. In the near future, it is anticipated that the automotive industry will experience a dramatic transformation as automated facilities quickly replace manual facilities in the production of automobiles.
Segment Analysis
The global industrial metrology market has been segmented based offering, equipment, application and end-user.
On the basis of offering, the market is segmented into includes hardware, software, and services. In 2022, the hardware sector will rule the world market. For calculating surface separations and distances ranging from millimetres to kilometres, it provides improved precision and accuracy.
Based on equipment, the global industrial metrology market has been segmented into includes coordinate measuring machine (CMM), optical digitizer and scanner (ODS), measuring instruments, x-ray and computed tomography, automated optical inspection, form measurement equipment, and 2D equipment. In 2022, the optical digitizer and scanner (ODS) sector ruled the world market. Demand is increasing across a range of end-use industries for optical digitizers and scanners because they use a scanning technique and software that is advantageous for capturing coordinate points of any item and printing them into an image.
Based on application, the global industrial metrology market has been segmented into quality control & inspection, reverse engineering, mapping and modeling, and others. In 2022, the worldwide industrial metrology market was dominated by the quality control & inspection segment. The need to enhance output and achieve accuracy has resulted in a growth in the demand for high-precision metrology and inline inspection across a variety of industries.
Based on end-user, the global industrial metrology market has been segmented into includes concerns aerospace & defense, automotive, semiconductor, manufacturing, and others. In 2022, the automotive industry controlled the world market for industrial metrology. Automotive manufacturers are using 3D technologies and optical inspection techniques more and more.
Regional Analysis
The global industrial metrology market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Industrial Metrology market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Industrial Metrology market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Industrial Metrology market comprises of Middle East, Africa, and Latin America.
The largest market share for industrial metrology was maintained by the North American regional sector. The rising demand for automation and the significant usage of industrial metrology in the region provide an explanation for this.
Moreover, the Europe market has been persistently growing over the forecast period. The increasing targets imposed by the Climate Change Accord and the automotive industry's propensity for automation are expected to have a substantial positive impact on the industrial metrology market in the region in the near future.
Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period. . As a result of the rising geopolitical tension and the increased demand for automation in the commercial sector, industrial metrology technologies have been adopted throughout developing nations like China, Japan, South Korea, and India, which is predicted to fuel market expansion.
Furthermore, the rest of the world's Industrial Metrology market is divided into the Middle East, Africa, and Latin America. The region has seen a rise in manufacturing operations across many industries, including automotive, aerospace, and consumer electronics, which is responsible for this expansion. Due to this expansion, there is now a greater need for precise measurement and inspection tools to guarantee product quality and conformity with global norms.
Key Findings of the Study
- The global industrial metrology market is expected to reach USD 18.5 Billion by 2032, at a CAGR of 6.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market, As a result of the rising geopolitical tension and the increased demand for automation in the commercial sector, industrial metrology technologies have been adopted throughout developing nations like China, Japan, South Korea, and India, which is predicted to fuel market expansion.
- Based on offering, the hardware, software, and services segment was attributed to holding the largest market in 2022.
- Hexagon AB, Renishaw PLC, FARO Technologies, Nikon Metrology, Carl Zeiss AG, Jenoptik AG, Perceptron, Automated Precision Inc., KLA Corporation, and Applied Materials Inc
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Companies Covered | 15 |
Pages | 128 |
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