Global Industrial Metrology Market Size by Offering (Hardware, Software, Services), By Equipment (Coordinate Measuring Machine (CMM), Optical Digitizer and Scanner (ODS), Measuring Iinstruments), By Application (Quality Control & Inspection, Reverse Engineering, Mapping & Modelling), By End-User (Automotive, Semiconductor, Manufacturing), By Geographic Scope And Forecast
Report ID: 5429|No. of Pages: 202
Global Industrial Metrology Market Size by Offering (Hardware, Software, Services), By Equipment (Coordinate Measuring Machine (CMM), Optical Digitizer and Scanner (ODS), Measuring Iinstruments), By Application (Quality Control & Inspection, Reverse Engineering, Mapping & Modelling), By End-User (Automotive, Semiconductor, Manufacturing), By Geographic Scope And Forecast
Industrial Metrology Market Size and Forecast
Industrial Metrology Market size was valued at USD 10.64 Billion in 2023 and is projected to reach USD 22.21 Billion by 2031 growing at a CAGR of 9.64% from 2024 to 2031.
- Industrial metrology is the application of accurate measurement techniques and devices to ensure precision and quality in manufacturing and production operations. Dimensional measurement, calibration and testing are all part of the process for maintaining standards and improving product consistency.
- In practice, industrial metrology is used to control quality, optimize processes and maintain equipment. It guarantees that goods satisfy regulatory and consumer criteria, lowering failures and improving productivity in industries such as automotive, aerospace and electronics.
- Industrial metrology will incorporate cutting-edge technology like AI and IoT for real-time monitoring and predictive maintenance. The emphasis will be on increasing precision, minimizing downtime and adapting to more complex manufacturing systems.
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Global Industrial Metrology Market Dynamics
The key market dynamics that are shaping the global industrial metrology market include:
Key Market Drivers:
- Quality Assurance Demands: The growing emphasis on product quality and compliance with international standards needs modern metrology systems for precise measurement and inspection.
- Manufacturing Complexity: As complex and high-precision manufacturing processes become more prevalent in industries such as aerospace and automotive, advanced metrology systems are required to maintain accuracy and reliability.
- Automation and Industry 4.0: Combining industrial metrology with automation and smart technologies enables real-time data collection and analysis, hence increasing operational efficiency and production.
Key Challenges:
- High Implementation Costs: The initial investment in advanced metrology equipment and technology can be excessively expensive for many firms, particularly small and medium-sized ones.
- Technological Complexity: The rapid advancement of metrology technology can make it difficult to keep equipment and skills up to date, thereby disrupting operations.
- Regulatory Challenges: Different locations have different standards and laws, which can complicate compliance and raise expenses for international corporations.
- Skill Shortage: There is a scarcity of skilled individuals with advanced metrology techniques, which might impede the successful implementation and maintenance of metrology systems.
Key Trends:
- AI and Machine Learning Technologies: AI and machine learning technologies are increasingly being integrated into industrial metrology to provide enhanced data analysis, predictive maintenance and real-time fault identification. These technologies improve both measurement accuracy and process efficiency.
- Growth in Automation and Robotics: The use of automation and robotics in manufacturing is increasing demand for sophisticated metrology equipment. Automated measurement systems improve quality control while reducing human error, resulting in more consistent manufacturing results.
- Expansion of 3D Metrology: Laser scanning and coordinate measuring machines (CMMs) are gaining popularity. These systems give thorough and accurate measurements of complicated geometries, which is critical for industries such as aerospace and automotive.
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Global Industrial Metrology Market Regional Analysis
Here is a more detailed regional analysis of the global industrial metrology market:
North America:
- According to Verified Market Research, North America is expected to dominate the global industrial metrology market.
- North America is predicted to dominate the worldwide industrial metrology market, owing to its well-established manufacturing sector and superior technological infrastructure.
- The region benefits from considerable investments in R&D, high adoption rates of advanced measurement equipment and a strong emphasis on quality control and accuracy. Major industrial players and end-users in North America employ cutting-edge metrology technologies to increase production efficiency and maintain a competitive advantage.
- Furthermore, the presence of premier metrology technology providers and a strong industrial base reinforces North America’s worldwide market leadership, encouraging innovation and growth.
Asia Pacific:
- According to Verified Market Research, Asia Pacific is fastest growing region in global industrial metrology market.
- Asia-Pacific is the fastest-growing region in the worldwide industrial metrology market, owing to rapid industrialization and expanding manufacturing sectors. increasing investments in modern technology and automation, combined with a surge in demand for precise measuring solutions, help to drive the region’s growth.
- Emerging economies and major industrial hubs are rapidly implementing cutting-edge metrology systems to increase quality control and production efficiency, propelling market growth.
Global Industrial Metrology Market: Segmentation Analysis
The Global Industrial Metrology Market is segmented based on Offering, Equipment, Application, End-User and Geography.
Industrial Metrology Market, By Offering
- Hardware
- Software
- Services
Based on Offering, the Global Industrial Metrology Market is separated into Hardware, Software, Services. In the global industrial metrology market, hardware is the most important category. It contains vital measurement tools such as coordinate measuring machines (CMMs), optical scanners and form measurement equipment, all of which are necessary for precision and quality control in manufacturing processes.
Industrial Metrology Market, By Equipment
- Coordinate Measuring Machine (CMM)
- Optical Digitizer and Scanner (ODS)
- 3D Laser Scanners
- Laser Trackers
- Laser Radar
- White Light
- Photogrammetry
- Measuring Instruments
- X-ray and Computed Tomography
- Automated Optical Inspection
- Form Measurement Equipment
- 2D equipment
Based on Equipment, the Global Industrial Metrology Market is separated into 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 the global industrial metrology market, Coordinate Measuring Machines (CMM) are dominant. They are frequently utilized for their accuracy and versatility in measuring complex geometries and maintaining quality control in a variety of manufacturing industries.
Industrial Metrology Market, By Application
- Quality Control & Inspection
- Reverse Engineering
- Mapping & Modelling
Based on Application, Global Industrial Metrology Market is divided into Quality Control & Inspection, Reverse Engineering, and Mapping & Modelling. In the global industrial metrology market, quality control and inspection are dominant. This application guarantees that products satisfy regulatory norms and specifications, making it an essential component of production processes that maintain high quality and eliminate defects.
Industrial Metrology Market, By End-User
- Aerospace & Defense
- Automotive
- Semiconductor
- Manufacturing
Based on End-User, Global Industrial Metrology Market is divided into Aerospace & Defense, Automotive, Semiconductor, and Manufacturing. In the worldwide industrial metrology market, the automotive sector dominates. This industry relies heavily on precise measurement and quality control to maintain the precision and dependability of complex components and systems, resulting in a high demand for advanced metrology solutions.
Industrial Metrology Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on the Geography, the Global Industrial Metrology Market divided into North America, Europe, Asia Pacific and Rest of the World. North America leads the worldwide industrial metrology market due to its advanced manufacturing infrastructure and widespread use of cutting-edge technology. However, Asia-Pacific is the fastest-growing area, owing to rapid industrialization, increasing manufacturing activity and a rise in technical breakthroughs.
Key Players
The Global Industrial Metrology Market study report will provide valuable insight with an emphasis on the global market. The major players in the market are Hexagon AB, Renishaw PLC, FARO Technologies, Nikon Metrology, Carl Zeiss AG, Jenoptik AG, Perceptron, Automated Precision, Inc., KLA Corporation, Applied Materials, Inc., Mitutoyo Corporation, KEYENCE CORPORATION, Creaform, Precision Products, CARMAR ACCURACY, Baker Hughes.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Global Industrial Metrology Market Recent Developments
- In August 2022, LK Metrology, a provider of Coordinate Measuring Machines (CMMs), metrology software and related CMM accessory items, has announced that it will show a number of new products at Booth No. 135230 in Chicago.
- In March 2022, Hexagon’s Manufacturing Intelligence division announces the launching of the HxGN NC Server. This new machine tool software interface enables users to interact directly with the premier measurement software, PC-DMIS, on machine tools. The solution provides numerous productivity benefits by boosting accessibility and interoperability with various data gathering and analysis methods often used in industrial applications.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2020-2030 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Period | 2020-2022 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Hexagon AB, Renishaw PLC, FARO Technologies, Nikon Metrology, Carl Zeiss AG, Jenoptik AG, Perceptron, Automated Precision, Inc., KLA Corporation, Applied Materials, Inc., Mitutoyo Corporation, KEYENCE CORPORATION, Creaform, Precision Products, CARMAR ACCURACY, Baker Hughes. |
| Segments Covered | By Offering, Equipment, By Application, By End-User and By Geography. |
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
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• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Frequently Asked Questions
1. INTRODUCTION OF GLOBAL INDUSTRIAL METROLOGY MARKET
1.1. Introduction of the Market
1.2. Scope of Report
1.3. Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1. Data Mining
3.2. Validation
3.3. Primary Interviews
3.4. List of Data Sources
4. GLOBAL INDUSTRIAL METROLOGY MARKET OUTLOOK
4.1. Overview
4.2. Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Porters Five Force Model
4.4. Value Chain Analysis
5. GLOBAL INDUSTRIAL METROLOGY MARKET, BY OFFERING
5.1. Overview
5.2. Hardware
5.3. Software
5.4 Services
6. GLOBAL INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT
6.1. Overview
6.2. Coordinate Measuring Machine (CMM)
6.3. Optical Digitizer and Scanner (ODS)
6.3.1 3D Llaser Sscanners
6.3.2 Laser Ttrackers
6.3.4 Laser Rradar
6..3.5 White Llight
6.3.6 Photogrammetry
6.4. Measuring Iinstruments
6.5. X-ray and Ccomputed Ttomography
6.6. Automated Ooptical Iinspection
6.7 Form Mmeasurement Eequipment
6.8 2D equipment
7. GLOBAL INDUSTRIAL METROLOGY MARKET, BY END-USER
7.1. Overview
7.2. Quality Control & Inspection
7.3. Reverse Engineering
7.4 Mapping & Modelling
8. GLOBAL INDUSTRIAL METROLOGY MARKET, BY APPLICATION
8.1. Overview
8.2. Aerospace & Defense
8.3. Automotive
8.4 Semiconductor
8.5 Manufacturing
9. GLOBAL INDUSTRIAL METROLOGY MARKET, BY GEOGRAPHY
9.1. Overview
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.2.3. Mexico
9.3. Europe
9.3.1. Germany
9.3.2. U.K.
9.3.3. France
9.3.4. Rest of Europe
9.4. Asia Pacific
9.4.1. China
9.4.2. Japan
9.4.3. India
9.4.4. Rest of Asia Pacific
9.5. Rest of the World
9.5.1. Latin America
9.5.2. Middle East and Africa
10. GLOBAL INDUSTRIAL METROLOGY MARKET COMPETITIVE LANDSCAPE
10.1. Overview
10.2. Company Market Ranking
10.3. Key Development Strategies
11. COMPANY PROFILES
11.1. Hexagon AB
11.1.1. Overview
11.1.2. Financial Performance
11.1.3. Product Outlook
11.1.4. Key Developments
11.2. Renishaw PLC
11.2.1. Overview
11.2.2. Financial Performance
11.2.3. Product Outlook
11.2.4. Key Developments
11.3. Precision, Inc.
11.3.1. Overview
11.3.2. Financial Performance
11.3.3. Product Outlook
11.3.4. Key Developments
11.4. KLA Corporation
11.4.1. Overview
11.4.2. Financial Performance
11.4.3. Product Outlook
11.4.4. Key Developments
11.5. Applied Materials, Inc.
11.5.1. Overview
11.5.2. Financial Performance
11.5.3. Product Outlook
11.5.4. Key Developments
11.6. Mitutoyo Corporation
11.6.1. Overview
11.6.2. Financial Performance
11.6.3. Product Outlook
11.6.4. Key Developments
11.7. KEYENCE CORPORATION
11.7.1. Overview
11.7.2. Financial Performance
11.7.3. Product Outlook
11.7.4. Key Developments
11.8. Creaform
11.8.1. Overview
11.8.2. Financial Performance
11.8.3. Product Outlook
11.8.4. Key Developments
11.9. Precision Products
11.9.1. Overview
11.9.2. Financial Performance
11.9.3. Product Outlook
11.9.4. Key Developments
11.10. CARMAR ACCURACY
11.10.1. Overview
11.10.2. Financial Performance
11.10.3. Product Outlook
11.10.4. Key Developments
12. Appendix
12.1. Related Research
Report Research Methodology
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This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
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| Demand side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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