Global Metrology Services Market to Reach US$720.3 mn by 2018

Metrology services are the measurement services offered by service providers to various end use industries such as automotive, aerospace, manufacturing, and power generation among others.

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The Metrology Services Market is expected to grow at a CAGR of 8.2% during the forecast period from 2012 to 2018 and reach the market size of USD 720.3 million in 2018. Need for precisely measured components across different industry verticals including electronics industry, power generation industry, automotive sector, and others is creating the demand for metrology services, globally.

Metrology services are beneficial in increasing the efficiency by optimizing productivity without affecting the resource requirements. Different types of metrology products can be used independently or as an integrated system for quality control and inspection, 3D measurement, product quality optimization, reverse engineering, and others during manufacturing process. High precision equipments pose a significant challenge to the manufacturers to keep their inventory at par due to their high costs. This has given rise to service industry, where third party vendors offer measurement services to the manufacturers.

The metrology services market is segmented into two major categories based on product type namely coordinated measuring machines (CMM) and optical digitizers and scanners (ODS). Global metrology services market for CMM is expected to grow at a CAGR of over 7% from 2012 to 2018 while metrology services market for ODS is expected to show the growth rate of around 9% during the same forecast period. This is because ODS provides more precision for measurement of difficult geometries with touch probe accuracy. Among all the ODS products, demand for 3D laser scanners is highest due to its high accuracy and better preciseness.

Rise in industrialization in Asia Pacific in past few years significantly contributed to the growth of metrology services market. The rapidly booming automotive industry in Asia Pacific is the largest contributor to the global metrology services market.

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This release was published on openPR.