Chicago, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Coordinate Measuring Machine (CMM) Market by Type (Fixed CMM, Portable CMM), Industry (Automotive, Aerospace, Heavy Machinery, Energy & Power, Electronics, Medical), and Region (North America, APAC, Europe, and RoW) - 2026", Growing use of 3D data in modeling and analytical applications, increasing R&D spending on developing metrology products, and thriving automotive sector are among the factors driving the growth of the CMM market.
The combination of CMM and IIoT helps manufacturers to exchange precise details of a workpiece between facilities, customers, or suppliers that are part of the supply chain through the cloud platform, thereby helping other manufacturers to reduce manufacturing waste and minimize production errors. Further, integration of CMM and Industry 4.0 enables manufacturers to track and optimize the supply chain and get real-time data regarding production and product performance, thereby enabling companies to offer enhanced services to customers and create new revenue streams.
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Coordinate Measuring Machine (CMM) Market Report Scope:
| Report Metric | Details |
| Market Size Value in 2021 | USD 2.8 Billion |
| Revenue Forecast in 2026 | USD 4.3 Billion |
| Growth Rate | 8.8% |
| Years considered to provide market size | 2017–2026 |
| Forecast Period | 2021–2026 |
| Segments Covered |
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| Region Covered |
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| Market Leaders |
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| Top Companies in North America |
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| Key Market Driver | Growing use of 3D data in modeling and analytical applications |
| Key Market Opportunity | Surging adoption of cloud computing and Industry 4.0 |
| Largest Growing Region | Asia Pacific |
| Largest Market Share Segment | Heavy machinery segment |
| Highest CAGR Segment | Portable CMM segment |
“Browse in-depth TOC on "CMM Industry Size"
243 – Tables
61 – Figures
255 – Pages
Hexagon has a huge and diversified portfolio of CMMs. For the last three years, the company has been investing more than 10% of its annual revenue in R&D activities. The company conducts operations through 300 operating facilities in 50 countries. It serves clients from several industries, including surveying, electronics and manufacturing, infrastructure and construction, energy & power, automotive, aerospace & defense, natural resources, and public safety.
Nikon Metrology, a dedicated subsidiary of Nikon Corp., has a strong and broad product portfolio of CMM solutions for applications ranging from miniature electronics to large aircraft. To grow in the CMM market, the company has adopted the strategies of product launches and developments. Nikon strives to offer innovative products, allowing manufacturers to deliver premium quality products in a shorter time. Additionally, the company follows the strategy of partnerships and contracts to increase its client reach and client database.
Keyence develops and manufactures leading-edge solutions that enable high-precision 3D capture, measurement, and analysis across a variety of industries, including manufacturing, construction, engineering, and public safety. Keyence offers portable metrology and 3D documentation solutions to a wide range of industries. The spread of COVID-19 could affect the company’s future developments, operations, and businesses. Furthermore, the CMM market is characterized by rapid technological change. Competitors may develop new or improved products, processes, or technologies that may make Keyence’s products obsolete or less competitive.
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Recent Developments In Coordinate Measuring Machine Market
- In June 2021, Nikon Corporation (Nikon) released the NEXIV CNC Video Measuring System model range that includes VMZ-S4540 and VMZS6555, suitable for inline, automated dimensional measurement.
- In June 2021, ZEISS CALYPSO 2021 reduces the time and effort needed to analyze workpieces. It has over 60 new functions and improvements, which will lead to significantly better performance in quality control. With improved mathematical algorithms and other innovations, the measurement results are now available 20 times faster than with ZEISS CALYPSO 2020.
- In May 2021, Mena3D and Nikon Metrology expanded their sales partnership and mutual approach in providing state-of-the-art metrology and optical inspection solutions in the Middle East and North Africa.Mena3D offers powerful 3D laser scanners specifically designed for both indoor and outdoor applications.
- In May 2021, ZEISS plans to expand its national coverage in the US for its Industrial Quality & Research segment by acquiring Capture 3D, a leading US partner for GOM‘s 3D non-contact measuring solutions. With this acquisition, customers will benefit from a seamless experience to get the best measuring solutions for their specific tasks.
What are the drivers and opportunities for the CMM market?
Factors such as growing use of 3D data in modeling and analytical applications, increasing R&D spending on developing metrology products, and thriving automotive sector. Moreover, surging adoption of cloud computing and industry 4.0, escalating need for coordinate measuring machine services are expected to create lucrative opportunities in CMM market.
Related Reports:
- The 3D Metrology Market by Product Type (CMM, ODS, VMM, 3D AOI, 3D X-ray &CT), Application (Quality Control & Inspection, Reverse Engineering, Virtual Simulation), Offering, End-user Industry and Geography (2022-2027)
- The Industrial Metrology Market by Offering, Equipment, Application (Quality Control & Inspection, Reverse Engineering, Mapping & Modeling), End-User Industry (Aerospace & Defense, Automotive, Manufacturing, Semiconductor), Region - Global Forecast to 2027
