CHICAGO, Dec 15, 2023 – The global Industrial Metrology Market is gearing up for substantial growth, with an anticipated increase from USD 10.9 billion in 2022 to USD 14.6 billion by 2027, reflecting a steady Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period. These insights are detailed in a comprehensive report by MarketsandMarkets, a leading market research and consulting firm.
In many different industries, industrial metrology—which includes measuring and inspection solutions for manufacturing processes—is essential to guaranteeing precision, high-quality products, and standard compliance. The growing importance of quality control, the development of metrology technologies, and the growing use of automation in manufacturing processes are the main drivers of the market’s anticipated expansion in industrial metrology. The study profiles major competitors in the global industrial metrology market and examines important segments, growth factors, opportunities, and challenges.
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Key Segments:
Offering Segment: The Industrial Metrology market includes a range of offerings, such as hardware, software, and services, each contributing to the comprehensive measurement and inspection solutions deployed in manufacturing environments.
Product Segment: Metrology solutions cater to different measurement needs, including coordinate measuring machines (CMM), optical digitizers and scanners (ODS), form measurement equipment, and inline metrology systems, among others.
Application Segment: Industrial Metrology is applied across various industries, including automotive, aerospace and defense, electronics, energy and power, and healthcare, reflecting the diverse applications within the manufacturing sector.
Browse 145 market data Tables and 58 Figures spread through 316 Pages and in-depth TOC on “Industrial Metrology Market by Offering, Equipment, Application, End-User Industry, Region – Global Forecast to 2027”
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Growth Drivers:
Emphasis on Quality Control: The increasing emphasis on quality control and the demand for precision in manufacturing processes drive the adoption of Industrial Metrology solutions to ensure product quality and compliance with industry standards.
Advancements in Metrology Technologies: Ongoing advancements in metrology technologies, including 3D scanning, laser measurement, and non-contact inspection methods, contribute to the evolution of Industrial Metrology for accurate and efficient measurements.
Rising Adoption of Automation: The growing trend towards automation in manufacturing processes creates opportunities for the integration of Industrial Metrology solutions to enhance efficiency, reduce errors, and optimize production workflows.
Challenges:
High Initial Investment: The initial investment required for advanced Industrial Metrology solutions, including hardware and software, may pose a challenge for some manufacturers, especially small and medium-sized enterprises.
Integration Complexity: Addressing integration complexities with existing manufacturing systems and workflows requires careful planning and coordination to ensure seamless deployment and operation.
Opportunities:
Customization for Industry-Specific Needs: The customization of Industrial Metrology solutions to meet industry-specific measurement and inspection requirements presents opportunities for manufacturers to offer tailored solutions for diverse applications.
Digitalization and Industry 4.0: The integration of Industrial Metrology with digitalization initiatives and Industry 4.0 technologies creates opportunities for real-time data analytics, predictive maintenance, and smart manufacturing.
Key Players:
The report identifies key players in the global Industrial Metrology market, including:
Hexagon AB: A global provider of sensor, software, and autonomous solutions, specializing in Industrial Metrology solutions for manufacturing and quality control applications.
Carl Zeiss AG: A German manufacturer of optical systems and optoelectronics, offering a range of Industrial Metrology solutions, including coordinate measuring machines and optical sensors.
Mitutoyo Corporation: A Japanese multinational corporation, known for manufacturing precision measuring instruments, including coordinate measuring machines and vision measurement systems.
Renishaw plc: A British engineering and scientific technology company, specializing in metrology and precision measurement solutions, including additive manufacturing and calibration services.
FARO Technologies, Inc.: A global technology company, providing 3D measurement and imaging solutions, including portable coordinate measuring machines and laser trackers.
The growing need for accuracy and quality control in manufacturing processes is expected to propel the expansion of the worldwide industrial metrology market. Industrial metrology solutions are anticipated to be crucial in determining the direction of measurement and inspection in production as sectors continue to change and adopt new technologies.
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