Press release
Metrology and Inspection Equipment Market Forecasts and Growth, 2018-2028
Increasing demand for manufacturing efficiencies is driving the global metrology and inspection equipment market. The manufacturing industry is witnessing high demand for metrology and inspection equipment due to increasing end-user demand for eliminating errors during manufacturing processes and increasing the product life cycle. Industries, such as automotive, medical device manufacturing and aerospace, are witnessing high adoption for metrology and inspection equipment since these industries are accuracy centric industries.
Metrology and inspection equipment minimize the chances of minor damages and significantly save time and cost of manufacturing. Metrology and inspection equipment market can be categorized into five types: coordinate measurement machines (CMMs), 3D tomography machines, surface profilometers, interferometers and 3D laser scanning machines and vision measurement systems. Further, increasing quality standards are propelling the adoption of metrology and inspection equipment.
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Metrology and inspection equipment offer precise and accurate measurements which allow companies to move towards automation. Applications of metrology and inspection equipment include quality control and inspection, measurement & alignment, reverse engineering, virtual simulation and others (tool building, etc.). Industries are moving towards automation for the manufacturing of complex high-tech products and this will lead to growing demand for minimizing errors and defects. In order to minimize operational costs, manufacturers are focusing on investing in metrology and inspection equipment.
Metrology and inspection equipment are witnessing huge adoption in pharmaceutical companies as they help in maintaining consistency and accuracy during the production of medicines. Several developments in metrology and inspection equipment with reference to display technology, steady growth of the market and recent developments & innovations being witnessed in metrology and inspection equipment are some of the factors expected to drive the global metrology and inspection equipment market during the forecast period.
Metrology and Inspection Equipment Market: Drivers and challenges
Increasing usage of metrology and inspection equipment for applications in aerospace & defense and automotive verticals is expected to support the growth of the metrology and inspection equipment market during the forecast period. Increasing pressure on manufacturers to minimize operational to increase profit margins and growing inclination towards computer aided measurement systems to move towards automation has resulted in significant investments in metrology and inspection equipment.
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Companies in the region follow their own measuring standards, which differ from international standards, which is a challenge for metrology and inspection equipment vendors. Inadequate skilled labor force and technicians are required to operate metrology and inspection equipment, which is a factor expected to adversely affect the growth of the metrology and inspection equipment market during the forecast period.
Segmentation based on the type:
The metrology and inspection equipment market is segmented based on type into coordinate measurement machines (CMMs), 3D tomography machines, surface profilometer, interferometers, 3D laser scanning machines and vision measurement systems.
Segmentation based on the industry:
The metrology and inspection equipment market is segmented based on the industry into aerospace and defense, automotive, power and energy, consumer electronics, industrial manufacturing, pharmaceuticals and others.
Segmentation based on the application:
The metrology and inspection equipment market is segmented based on application into quality control inspection, measurement and alignment, reverse engineering, virtual simulation and others.
Metrology and Inspection Equipment Market: Key Players
Some of the key players operating in metrology and inspection equipment market are KLA-Tencor, Applied Materials, Hitachi High-Technologies Corporation, Nanometrics, Rudolph Technologies, Pratt and Whitney Measurement Systems Inc, Starrett, Rable Machine Inc, UNITY SEMICONDUCTOR SAS and others.
Metrology and Inspection Equipment Market: Regional Overview
North America and Western Europe are expected to hold major market share in the global metrology and inspection equipment market during the forecast period. Adoption of precision engineering practices by manufacturers in North America with focus on accuracy and reliability in the manufacturing of products has resulted in increasing applications of metrology and inspection equipment in various verticals and will significantly contribute to the growth of the global metrology and inspection equipment market during the forecast period.
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The report is a compilation of first-hand information, qualitative & quantitative assessment by industry analysts, as well as inputs from industry experts & industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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