Press release
Coordinate Measuring Machine (CMM) Market is Expected to Achieve USD 3.8 Billion by 2031 | Faro Technologies, Hexagon AB, APEX Metrology Ltd., International Metrology Systems
Coordinate Measuring Machine (CMM) Market
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What is the projected growth of the Global Coordinate Measuring Machine (CMM) market?
Global Coordinate Measuring Machine (CMM) Market reached US$ 3.1 billion in 2022 and is expected to reach US$ 3.8 billion by 2031, growing with a CAGR of 9.8% during the forecast period 2024-2031.
What is Coordinate Measuring Machine (CMM) Market?
A Coordinate Measuring Machine (CMM) is a precision measurement device used to determine the exact dimensions and geometrical characteristics of objects. It operates by using a probe to measure points on an object's surface in three-dimensional space (X, Y, Z coordinates).
Who are the major players in the Coordinate Measuring Machine (CMM) market?
The prominent players in Coordinate Measuring Machine (CMM) market research report are:
Faro Technologies, Hexagon AB, APEX Metrology Ltd., International Metrology Systems, Carl Zeiss AG, Keyence Corporation., Nikon, Creaform Inc. (AMETEK Inc.), Eley Metrology and Mitutoyo Corporation.
The companies are primarily focusing on strategies such as new product launches to penetrate the fastest-growing emerging markets across the world.
Key Development
In October 2022, Carl Zeiss, a German leader in optical systems and optoelectronics, announced the acquisition of all assets and liabilities of GOM UK. This merger integrated GOM's industrial software, machines, systems, and advanced 3D coordinate measurement and testing technologies into Zeiss's existing Industrial Quality Solutions portfolio.
In April 2022, LK Metrology, a prominent CMM manufacturer, entered into a strategic partnership with Wenzel Technologies, a subsidiary of FW International GmbH based in Hösbach. Through this collaboration, Wenzel Technologies began selling LK's innovative, high-performance CMMs and other metrology products in southern Germany, expanding its offerings through joint technological cooperation.
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Market Segments
By Offering: Product, Services
By Probe Type: Fingerprint Recognition, Multi-sensor, Mechanical, Iris Recognition, Palm/Hand Recognition, Face Recognition, Behavior Recognition, Others
By Installation: New, Upgrade and Retrofit
By Application: Inspection, Designing, Reverse Engineering, Virtual Simulation, Others
By End-User: Automotive, Aerospace and Defense, Construction, Mining, Power, Consumer Electronics, Others
The Coordinate Measuring Machine (CMM) industry is experiencing rapid growth, driven by advancements in medical technologies, increased demand for innovative therapies, and a rising focus on patient-centered care. As these sectors evolve, the need for comprehensive market analysis becomes crucial to understand trends, regulatory changes, and emerging opportunities.
Regions Covered:
The global Coordinate Measuring Machine (CMM) Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
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Benefits of the Report:
➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
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Email: Sai.k@datamintelligence.com
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About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
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