Growing Demand for Inspection Services From the Precision Manufacturing Industry

The industrial metrology market size is expected to grow from USD 8.92 billion in 2017 to USD 12.97 billion by 2023, at a CAGR of 6.2% during the forecast period. The need to improve the manufacturing environment is increasing with the growing use of high-performance products and manufacturing systems. The high-performance products and manufacturing systems require accurate measurements for a wide range of parameters and in a broad range of production environments. Manufacturers are moving toward precision engineering along with integrating automation into their respective industrial environment, thereby, boosting the need for metrology services. This is particularly a significant trend in the aerospace and automotive industries.

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The market, on the basis of application, has been segmented into quality control and inspection, reverse engineering, mapping and modeling, and others. The quality control and inspection application accounted for the largest share of the market in 2017. Industries such as automotive and aerospace face increasing demand for intense quality control and inspection; not meeting quality standards can hamper their reputation and, ultimately, their brand and business. Thus, these industries are prominently adopting industrial metrology for quality control and inspection application.

The market for the automotive industry is expected to grow at the highest CAGR between 2018 and 2023. The shift in preference from off-line quality inspection to near-line or in-line measurement techniques, enabling higher sampling rates and shorter inspection times, drives the growth of the market for the automotive industry. Moreover, the growing demand for automobiles in developing countries, such as India and China, is expected to fuel the growth of market in the near future.

APAC holds huge potential for the market. The growth of the market in APAC is attributed to growing automotive and manufacturing plants in this region. Moreover, large funding from governments of various APAC countries in research and development, and extensive industrial base are the major contributors to the market in APAC, with China, South Korea, and Japan being the major countries contributing to the growth. Also, continuous technological advancements propel the growth of this market.

Quality control and inspection application to hold largest size of industrial metrology market between 2018 and 2023

Industries such as automotive and aerospace face increasing demand for intense quality control and inspection; not meeting quality standards can hamper their reputation and, ultimately, their brand and business. Thus, these industries are prominently adopting industrial metrology for the quality control and inspection application.

Industrial metrology market for automotive industry to grow at significant CAGR between 2018 and 2023

The shift in preference from off-line quality inspection to near-line or in-line measurement techniques, enabling higher sampling rates and shorter inspection times in automotive sector, drives the growth of the industrial metrology market for the automotive industry. Moreover, the growing demand for automobiles in developing countries, such as India and China, is expected to fuel the growth of industrial metrology market in the near future.

Mr. Shelly Singh
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This release was published on openPR.