Global Metrology Services is projected to reach a market size of US$ 1.8 Billion by 2033

According to Fact.MR, a market research and competitive intelligence provider, Metrology Services have been driven by factors such as the ever-increasing need for effective product measuring solutions in order to evaluate the geometrical properties of assemblies while ensuring design accuracy and item quality at low operational costs.

The global metrology services market is expected to be worth US$ 1.0 billion in fiscal year 2023, up from US$ 950 million in fiscal year 2022. From 2023 to 2033, the market is expected to grow at a 6.1% CAGR, reaching a value of US$ 1.8 billion by the end of 2033.

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Metrology services refer to a range of specialized services related to measurement and precision in various industries. Metrology, as a field, focuses on the science of measurement and its application. Metrology services are crucial for ensuring accuracy, quality control, and compliance with standards in manufacturing, engineering, research, and other fields.

Top Key Players are:
KLA Corporation
Hexagon AB
Jenoptik
SGS Group
Intertek Group Plc.
Renishaw PLC
Carl Zeiss AG
Sasco Metrology Services
Faro Technologies
Metrologic Group

Key Segments of Industry:
By Type :
Coordinate Measuring Machines (CMM)
Optical Digitizers and Scanners (ODS)

By End-Use Application :
Aerospace
Automotive
Power Generation
Industrial
Others

By Region :
North America
Latin America
Europe
East Asia
South Asia and Oceania
Middle East & Africa

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Key Takeaways from the Market Study
In 2023, the global Metrology Services market is estimated to have a global market size of US$ 1.0 Bn.
The coordinate measuring machines (CMM) category is expected to have a 56% market share in 2023 and to dominate the global market from 2023 to 2033.
The industrial category is expected to have a 32% market share in 2023 and to dominate the global market from 2023 to 2033.
The North American region is predicted to acquire a 35% global market share by 2023.
The European region is forecast to have a CAGR of 23% over the forecast period of 2023- 2033.

Regional Analysis:
North American demand for metrology services is likely to rise in the future years. Many well-established industries in North America, including as automotive, aerospace, industrial, and consumer products, rely on precise and accurate measurements to improve product quality, eliminate defects, and fulfill international quality standards.

The increasing need for autonomous and electric vehicles, for example, is driving demand for metrology services in the automotive industry, as these vehicles require exact measurements to assure their safety and reliability. The need for metrology services in the aerospace industry is likely to rise as companies strive to improve the precision and safety of crucial components and systems.

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Competitive Landscape:
Prominent firms in the Metrology Services Industry are capitalizing on the constantly growing demand for chatbots in a variety of applications. Players are expanding their reach through collaborations, partnerships, and acquisitions with current small, medium, and large-scale providers.

The following are some notable market developments:
Renishaw inked a deal with Verisurf Software Inc. in November 2021. Verisurf Software Inc. synchronizes Renishaw measuring machine (CMM) software under this agreement.

FARO Technologies bought HoloBuilder, Inc. in June 2021 in order to bring its leading photogrammetry-based 3D platform to FARO, which provides hardware-agnostic image capture, registration, and viewing to the rapidly growing digital twin market.

Related Reports:
Metrology and Inspection Equipment Market Outlook (2023 to 2033)
https://www.factmr.com/report/1886/metrology-and-inspection-equipment-market

Metrology Systems Market is expected to garner a market value of US$ 16 Billion by the end of 2028
https://www.factmr.com/report/1846/metrology-systems-market

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