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Industrial Metrology Market Size, Share Analysis, Trends, Growth And Global Forecast 2023-2032 | Major Players: Hexagon AB, Carl Zeiss AG, Nikon India Pvt. Ltd., Faro Technologies, Keyence Corporation
Industrial Metrology Market Report
The Business Research Company's Industrial Metrology Global Market Report 2023 identifies the surging adoption of hybrid and electric vehicles as the major driver for the industrial metrology market's growth in the forecast period. Hybrid electric vehicles refer to those that employ both an internal combustion engine and one or more electric motors that draw electricity from batteries to operate. Since electric vehicle (EV) gears are essential for extending range, metrology helps to ensure that the process of making them is optimal, which is boosting the growth of the industrial metrology market.
The global industrial metrology market size is expected to grow from $9.60 billion in 2022 to $10.37 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global industrial metrology market is expected to grow to $13.87 billion in 2027 at a CAGR of 7.5%
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Major competitors in the industrial metrology market are Hexagon AB, Carl Zeiss AG, Nikon India Pvt. Ltd., Faro Technologies, Keyence Corporation.
A key trend in the industrial metrology market includes product innovations. Major companies operating in the industrial metrology market are developing innovative products to strengthen their position in the market. For instance, in March 2022, Keyence, a Japan-based developer and manufacturer of automation sensors, vision systems, barcode readers, laser markers, measuring instruments, and digital microscopes, launched the LM Series, a high-accuracy instant measurement system. Distinctive features of the LM Series include the automated inspection system that can take measurements with +/- 0.7 µm precision and +/- 0.1 µm repeatability at the touch of a button. Additionally, it automatically compiles comprehensive inspection reports and records measurement data. The device delivers speed because fewer images are needed than with other systems because of the fast stage movement and wide field of view.
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The industrial metrology market is segmented -
•By Offering: Hardware, Software, Services
•By Equipment: Coordinate Measuring Machine (CMM), Optical Digitizer and Scanner (ODS), Measuring Instruments, X-ray and Computed Tomography, Automated Optical Inspection, Form Measurement Equipment, 2D Equipment
•By Application: Quality Control and Inspection, Reverse Engineering, Mapping and Modeling, Other Applications
•By End-User Industry: Aerospace and Defense, Automotive, Semiconductor, Manufacturing, Other End-User Industries
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the industrial metrology market.
The Business Research Company's "Global Industrial Metrology Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Industrial Metrology Market Include:
1. Executive Summary
2. Industrial Metrology Market Characteristics
3. Industrial Metrology Market Trends And Strategies
4. Industrial Metrology Market - Macro Economic Scenario
5. Industrial Metrology Market Size And Growth
……
26. Africa Industrial Metrology Market
27. Industrial Metrology Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Industrial Metrology Market
29. Industrial Metrology Market Future Outlook and Potential Analysis
30. Appendix
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