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Metrology Services Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast

The global metrology services market is forecasted to value over USD 1.1 billion by 2029 end and register a CAGRof over 5.2% from 2019 to 2029. 
Metrology Services Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2029
The global metrology services market is forecasted to value over USD 1.1 billion by
2029 end and register a CAGRof over 5.2% from 2019 to 2029.
The increasing demand from power generation and industrial applications are driving
the growth of the market. Technological advancements alongside finished goods are
also bolstering the market. Portable metrology tools for specific industry coupled
with advancement in software-led process automation is acting as a catalyst towards
the market growth. The growing need for high accuracy in industries like aerospace,
medical, electronics is expected to elevate the market. The rapid growth of luxury
cars is also fueling the growth of the market.
The market is classified into product, application, and region. Based on the product,
the CMM is expected to control the growth of the market. It's expected to reach
around USD 390 million by 2029. CMM provides surface and dimensional
measurement in a single system. It also provides an accurate measurement of
objects for testing, designing, and profiling. Due to these features, multiple industries
like automobile, industrial and aerospace have started opting CMM in vast number.
Also, a gradual increase in demand for calibration and retrofitting is set to spike the
demand of CMM thus propelling the market.
The Optical Digitizer Scanner is also forecasted to witness notable growth. The ODS is
capable of capturing the whole geometry for inspection reasons. It offers high
accuracy and is in vast demand in automotive component, surface analysis, and gas
turbine blade.
In terms of application, the aerospace industry is expected to dictate market growth.
Latest technological advancements in the form of portable CMM, 3D measurement
solution and cloud-based software application is stimulating the growth of metrology
services market.
The automotive sector is also expected to dominate the market over the forecast
period. The technological advancements have resulted in an increased level of
precision components. Every component of the vehicle, right from door to seat, each
component should be deployed in such a way that it provides safety and comfort.
The rising need for tolerance measurement in order to assess the equipment is also
fueling the market.
In terms of region, North America holds a vast share of the market. Europe comes
after North America. The presence of an ample number of automotive
manufacturers present in both the regions alongside the rapid use of 3D laser
scanner is positively influencing the market in these regions. Metrology service is
deployed in the automotive industry for the inspection of the assembling of vehicle.
Asia-Pacific region is expected to be the fastest-growing region. The exponential
growth of the defense and aerospace sector is boosting the presence of the market
in the region. Increasing power generation applications is also expected to
complement the growth of the market in the region. The growing adoption of 3D
scanned is also fueling the growth of the market in the region.
Major players of the market are Renishaw PLC, Faro Technologies Atos Se, Kofax
Ltd, Infosys Ltd, Carl Zeiss AG, and Hexagon AB.
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Metrology Services Market Segmentation:
1. By Product
Gantry Machine
Bridge Machine
Articulated Arm Machine
Horizontal Arm Machine
3D Laser Scanner
White Light Scanner
Laser Tracker
2. By Application
Power Generation
3. By Region
North America
Asia Pacific
Latin America
Rest of the World
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Competitive Landscape:
Tier 1 players- established companies in the market with a major market share
Tier 2 players
Emerging players which are growing rapidly
New Entrants
FutureWise Key Takeaways
Growth Prospects
WOT Analysis
Key Trends
Key data-points affecting market growth
Objectives of the Study:
To provide with an exhaustive analysis on the global metrology services
market by product, by application, and by region
To cater comprehensive information on factors impacting market growth
(drivers, restraints, opportunities, and industry-specific restraints)
To evaluate and forecast micro-markets and the overall market
To predict the market size, in key regions (along with countries)—North
America, Europe, Asia Pacific, Latin America, and the rest of the world
To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financial
and core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
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