Dublin, Nov. 03, 2022 (GLOBE NEWSWIRE) -- 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" report has been added to ResearchAndMarkets.com's offering.
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
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities for Industrial Metrology Market Players
4.2 Industrial Metrology Market, by Offering
4.3 Industrial Metrology Market, by Equipment
4.4 North America: Industrial Metrology Market, by Country and End-User Industry
4.5 Industrial Metrology Market, by Application
4.6 Industrial Metrology Market, by Country (2021)
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Surging Adoption of Hybrid and Electric Vehicles (Evs)
5.2.1.2 Rising Demand for Big Data Analytics
5.2.1.3 Growing Demand for Quality and Inspection Equipment in Precision Manufacturing
5.2.1.4 Increasing Demand for Automobiles in Emerging Economies
5.2.1.5 Increasing Focus on Manufacturing Superior- and Uniform-Quality Products
5.2.2 Restraints
5.2.2.1 Requirement of High Investment for Setting Up of Metrology Facilities
5.2.2.2 Integration of Industrial Metrology Processes with Existing Manufacturing Units
5.2.3 Opportunities
5.2.3.1 Rising Adoption of Metrology Products in Food Industry
5.2.3.2 Adoption of Cloud Services to Integrate Metrological Data
5.2.3.3 Rise in Demand for Industry 4.0
5.2.4 Challenges
5.2.4.1 Reduction in Demand for Manufacturing Products Due to Uncertain Global Market Conditions
5.2.4.2 Lack of Expertise in Handling Metrological Systems
5.3 Value Chain Analysis
5.4 Porter's Five Force Analysis
5.5 Pricing Analysis
5.6 Trade Analysis
5.6.1 Trade Analysis for Industrial Metrology Products
5.7 Ecosystem
5.8 Case Study Analysis
5.8.1 Creation of 3D Printed Replica of Michelangelo's Famous David Sculpture with Hexagon's Industrial Metrology Products
5.8.2 Hexagon Helped Alloy Specialties in Improving Production Capacity
5.8.3 Renishaw Revo 5-Axis Systems Helped Reduce Daily Inspection Time of Auto Parts
5.8.4 Dawn Machinery Increased Custom Machine Tool Production Efficiency Using Renishaw's Alignment Laser System
5.8.5 Ford Motor Company Established Dependable System to Monitor Gear Surface Processing
5.9 Patent Analysis
5.10 Technology Analysis
5.11 Regulations and Standards
5.12 Key Conferences and Events, 2022-2023
6 Industrial Metrology Market, by Offering
6.1 Introduction
6.2 Hardware
6.2.1 Hardware Segment to Dominate Industrial Metrology Market During Forecast Period
6.3 Software
6.3.1 Increased Adoption of Cloud-Based Software in Metrology to Fuel Growth of Software Market
6.4 Services
6.4.1 After-Sales Services
6.4.1.1 Need for Regular System Upgrades to Drive Growth of After-Sales Services Segment
6.4.2 Measurement Services
6.4.2.1 Part Sourcing and Outsourcing Help Reduce Overall Production Costs
6.4.3 Storage-As-A-Service
6.4.3.1 Increasing Focus of Companies on Achieving Cost Efficiency to Boost Adoption of Storage-As-A-Service
6.4.4 Software-As-A-Service
6.4.4.1 Increasing Usage of Cloud-Based Metrology Services to Drive Adoption of Software-As-A-Service in Industrial Metrology Market
7 Industrial Metrology Market, by Equipment
7.1 Introduction
7.2 Coordinate Measuring Machine (Cmm)
7.2.1 Fixed Cmm
7.2.1.1 Bridge Cmm
7.2.1.1.1 Offers Excellent Rigidity and Higher Accuracy
7.2.1.2 Gantry Cmm
7.2.1.2.1 Used for Measuring Large Objects
7.2.1.3 Horizontal Arm Cmm
7.2.1.3.1 Ideal for Measuring Large Workpieces and Parts That Are Hard to Reach
7.2.1.4 Cantilever Cmm
7.2.1.4.1 Smaller Than Other Cmms and Offer High Accuracy
7.2.2 Portable Cmm
7.2.2.1 Articulated Arm Cmm
7.2.2.1.1 Facilitate Quick and Accurate Inspection of Any Object
7.3 Optical Digitizer and Scanner (Ods)
7.3.1 Laser Scanner and Structured Light Scanner
7.3.1.1 Laser Scanners Offer Fast and Non-Contact Scanning
7.3.2 Laser Tracker
7.3.2.1 Used for Measuring Large Objects by Determining Position of Optical Target
7.4 Measuring Instrument
7.4.1 Measuring Microscope
7.4.1.1 Used for Industrial Measurement and Image Analysis
7.4.2 Profile Projector
7.4.2.1 Used to Measure Small Objects and Parts
7.4.3 Autocollimator
7.4.3.1 Ideal for Measuring Small Angular Differences
7.4.4 Vision System
7.4.4.1 Utilized for High-Resolution Measurements in Millimeter to Nanometer Range
7.4.5 Multisensor Measuring System
7.4.5.1 Suitable for Use in Hard-To-Reach Areas Using Touch Probes
7.5 X-Ray and Computed Tomography
7.5.1 Used in Industries for Detection of Voids and Cracks, and Analyzing Particles in Materials
7.6 Automated Optical Inspection (Aoi)
7.6.1 Extensively Used in Semiconductor Industry
7.7 Form Measurement Equipment
7.7.1 Used for Surface Analysis and Contour Measurement
7.8 2D Equipment
7.8.1 Micrometers Most Commonly Used 2D Equipment
8 Industrial Metrology Market, by Application
8.1 Introduction
8.2 Quality Control and Inspection
8.2.1 Quality Control and Inspection Segment to Account for Largest Share of Industrial Metrology Market During Forecast Period
8.3 Reverse Engineering
8.3.1 Automotive and Aerospace & Defense Industries Key End-Users of Reverse Engineering
8.4 Mapping and Modeling
8.4.1 Help Manufacturers Visualize and Construct Visual Prototypes of Products
8.5 Others
9 Industrial Metrology Market, by End-User Industry
9.1 Introduction
9.2 Aerospace & Defense
9.2.1 Uses Metrology in Manufacturing and Assembly of Aircraft
9.3 Automotive
9.3.1 Metrology Solutions Used for Conducting Inspection, Measurement, and Quality Checks of Various Components
9.4 Semiconductor
9.4.1 Miniaturization Necessitates Use of Metrology Solutions for Achieving High Accuracy, Precision, and Throughput
9.5 Manufacturing
9.5.1 Increasing Use of Metrology for Competitive Edge, and to Reduce Time and Effort
9.6 Others
10 Industrial Metrology Market, by Region
11 Competitive Landscape
11.1 China: Industrial Metrology Market, by End-User Industry, 2022-2027 (USD Million)
11.2 Japan
11.2.1 Product Portfolio
11.2.2 Regional FocUS
11.2.3 Manufacturing Footprint
11.2.4 Organic/Inorganic Growth Strategies
11.3 South Korea: Industrial Metrology Market, by End-User Industry, 2018-2021 (USD Million)
11.4 India
11.5 India: Industrial Metrology Market, by End-User Industry, 2018-2021 (USD Million)
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Pervasive Players
11.5.4 Participants
11.5.5 Product Footprint
11.6 Various Partnerships and Collaborations to Drive Market
11.6.1 Progressive Companies
11.6.2 Responsive Companies
11.6.3 Dynamic Companies
11.6.4 Starting Blocks
11.7 South America: Industrial Metrology Market, by End-User Industry, 2022-2027 (USD Million)
11.8 Overview
11.8.1 Product Launches
11.8.2 Deals
12 Company Profiles
12.1 Organic/Inorganic Growth Strategies
12.2 Market Share Analysis: Industrial Metrology Market, 2021
12.2.1 Hexagon
12.2.2 Nikon
12.2.3 Faro Technologies
12.2.4 Carl Zeiss
12.2.5 Jenoptik
12.2.6 Keyence Corporation
12.2.7 Creaform
12.2.8 Kla Corporation
12.2.9 Renishaw
12.2.10 Mitutoyo Corporation
12.3 Other Companies
12.3.1 Precision Products
12.3.2 Carmar Accuracy
12.3.3 Baker Hughes Company
12.3.4 Cyberoptics
12.3.5 Cairnhill Metrology
12.3.6 Att Metrology Services
12.3.7 Sgs Group
12.3.8 Trimet
12.3.9 Automated Precision
12.3.10 Applied Materials
12.3.11 Perceptron
12.3.12 Jlm Advanced Technical Services
12.3.13 Intertek Group
12.3.14 Bruker
12.3.15 Metrologic Group
13 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/7kqzrc
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