Top Market Shifts Transforming the Coordinate Measuring Machine Market Landscape: Key Insights

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What Is the Expected CAGR for the Coordinate Measuring Machine Market Through 2025?
The market size of the coordinate measuring machine has seen considerable growth in the past few years. Its growth is projected to increase from $3.73 billion in 2024 to $4.03 billion in 2025, with a compound annual growth rate (CAGR) of 7.8%. Factors contributing to the growth in the historic period include the expansion of the automotive sector, increased automation, a greater focus on sustainable production, shortened product development cycles, and industrialization.

What's the Projected Size of the Global Coordinate Measuring Machine Market by 2029?
An increase in the size of the coordinate measuring machine market is anticipated to accelerate in the coming years, reaching $5.8 billion by 2029 with a compound annual growth rate (CAGR) of 9.6%. The projected growth during this forecast period can be linked to the expanding aerospace sector, the progression of the medical industry, the acceptance of Industry 4.0 and smart manufacturing, and a heightened demand for superior quality goods. Key trends to look out for over the forecast period include non-contact metrology, 3D scanning and digitization, shop-floor cmms, multi-sensor cmms, and portable cmms.

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Top Growth Drivers in the Coordinate Measuring Machine Industry: What's Accelerating the Market?
The progression of the automotive sector is anticipated to fuel the coordinate measuring machine market's expansion in the coming years. The term 'automotive industry' encompasses all enterprises and activities involved in producing motor vehicles, predominantly their primary components like engines and bodywork. Coordinate measuring machines (CMMs) are leveraged in this industry for determining suspension tough points used in vehicle dynamics simulations. For example, the Department of Infrastructure, Transport, Regional Development, Communications, and the Arts, an Australian government department responsible for implementing government policy and programs, reported in February 2024, that the number of registered motor vehicles as of January 31, 2022, stood at 20.7 million. This was a 2% rise from January the previous year. Additionally, battery electric vehicles (BEVs) numbered about 40,000, signifying a 100% increase from 2021, with 2022's 34,200 passenger cars representing a 118% growth from 2021. Meanwhile, hybrid-electric vehicles (HEVs) were estimated to be around 277,000 in 2022, indicating a 35% rise from 2021. Hence, the burgeoning automotive sector is directly contributing to the expansion of the coordinate measuring machine market.

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Which Fast-Growing Trends Are Poised to Disrupt the Coordinate Measuring Machine Market?
The rise of 3D measurement systems is fast becoming a significant trend in the field of the coordinate measuring machine market. 3D measurement, a metrology method, leverages 3D measurement tools to capture 3D data of tangible objects including aspects such as their forms, textures, geometries, and colors. In October 2022, French high-tech company SCANTECH, known for creating, producing, and selling state-of-the-art 3D scanners, introduced the TrackScan-P. This latest offering is an optical 3D measurement system devoid of target points. Features such as augmented laser lines to amplify scanning efficiency, upgraded high-resolution cameras, and evolved edge inspection have been incorporated into the TrackScan-P. It uses smart optical tracking measurement paired with high-resolution cameras allowing for accurate measurement of parts without needing reference targets. This portable optical 3D measurement system, consisting of a 3D scanner and an optical tracker, is perfectly suited for 3D scanning of large-scaled objects.

What Are the Main Segments in the Coordinate Measuring Machine Market?
The coordinate measuring machinemarket covered in this report is segmented -

1) By Type: Fixed CMM, Portable CMM
2) By Application: Inspection, Reverse Engineering
3) By Industry: Automotive, Aerospace, Heavy Machinery, Energy and Power, Electronics, Medical, Other Industries

Subsegments:
1) By Fixed CMM: Bridge CMM, Gantry CMM, Horizontal Arm CMM, Optical CMM
2) By Portable CMM: Articulated Arm CMM, Laser Tracker CMM, Handheld CMM, 3D Laser Scanners

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Which Top Companies are Driving Growth in the Coordinate Measuring Machine Market?
Major companies operating in the coordinate measuring machine market include Carl Zeiss AG, Creaform Inc., Eley Metrology, FARO Technologies Inc., Hexagon AB, Keyence Corporation, Metronor AS, Mitutoyo Corporation, Nikon Metrology NV, Tokyo Seimitsu Co. Ltd., WENZEL Group GmbH & Co. KG, Aberlink Ltd., Accurate Gauging & Instruments Pvt Ltd, Dukin Co. Ltd., Applied Automation Technologies Inc., Dimensional Engineering, Sipcon Instrument Industries, Helmel Engineering Products Inc., International Metrology Systems, N. J. Metrology Inc., Optical Gaging Products Inc., Renishaw plc, TESA SA, Trimek S.A., Werth Inc., Zett Mess Technik GmbH, Automated Precision Inc.

Which Regions Will Dominate the Coordinate Measuring Machine Market Through 2029?
Asia-Pacific was the largest region in the coordinate measuring machine market in 2024. The regions covered in the coordinate measuring machine market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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