Global Metrology Services Market to Expand at 8.2% CAGR from 2012 to 2018, Burgeoning Automotive Sector Propels Market

Metrology services involve providing talented metrologists and reliable instrumentation and software to original equipment manufacturers. A good service provider not only brings equipment to its clients, but also extends repair and calibration services, equipment rental, automation and systems integration of measurement equipment, training, tool design, and more.

According to the report, the high adoption rate of computer-aided design (CAD) and computer-aided manufacturing (CAM) and statutes for international quality standards are the foremost reasons driving the growth of the global metrology services market. The demand for precisely measured parts and components across a spectrum of industry verticals such as automotive, power generation, and electronics, among others, is also driving the growth of this industry. In addition, the lack of skilled labor to operate precision equipment and the poor utility value of existing measuring machines is aiding the growth of this market.

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However, the growth of this market is inhibited due to several reasons. The demand for customized metrology solutions limits the application base of universal systems that are developed to offer multiple functionalities. Consequently, end users are forced to opt for multiple service providers that offer a broad spectrum of metrology services.

The product segments of the global metrology services market are optical digitizers and scanners (ODS) and coordinate measuring machines (CMM). The sub-segments of CMM are bridge machines, articulated arm machines, gantry machines, and horizontal arm machines. The CMM segment is expected to register a CAGR of 7.2% from 2012 to 2018, while the ODS segment of the market is expected to display a CAGR of 8.9% for the same forecast period to reach a valuation of US$435.8 mn by 2018. This is because ODS affords higher precision for the computation of difficult statistics with utmost accuracy. The sub-segments of ODS are white light scanners, laser trackers, and 3D laser scanners. The demand for 3D laser scanners is the highest owing to their high accuracy and better precision capabilities. In 2012, 3D laser scanners held a share of 35.1% in the global market.

On the basis of application, the market is composed of the following segments: Automotive, industrial, aerospace, power generation units, and others (such as medical sector). The booming automotive sector in Asia Pacific will significantly contribute to the market’s growth in this region.

Transparency Market Research has published a new market study, titled “Metrology Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2012 - 2018.” The report says that the global metrology services market will rise at a healthy 8.2% CAGR from 2012 to 2018. The market is projected to reach a valuation of US$720.3 mn by the end of 2018, increasing from US$448.6 mn in 2012.The report presents a comprehensive analysis of the global metrology services market by means of pinpointing the strengths, weaknesses, opportunities, and threats faced by this market.

Browse the full Metrology Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2012 - 2018 report at http://www.transparencymarketresearch.com/metrology-services-market.html

The report provides insights into the competitive scenario of the global market for metrology services by profiling top players in this market. These include Renishaw Plc., Optical Gaging Products Inc., Trescal SA, Danish Micro Engineering A/S, FARO Technologies Inc., Hexagon AB, Carl Zeiss Corporation, Nikon Metrology Inc., and Optical Metrological Services.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

This release was published on openPR.