Metrology Software Market : Insights into the Competitive Scenario of the Market

Increasing usage of metrology software across the ship building and healthcare verticals is expected to provide support in increasing the demand for metrology software in the North America region.

North America’s ship building industry is facing challenges in terms of increasing measurement surveys and addition of new measurement systems, which is why the industry is moving towards increasing usage of measurement systems and hence the need for metrology software.

Also, a growing need of pharmaceutical companies to maintain consistency and accuracy during the production of medicine coupled with guidelines issued by regulatory agencies for best practices have resulted in increasing adoption of precision equipment and metrology software by this sector.

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The standards set by international committees in terms of the instruments to be used, the metrics parameters, the frequency of measurement etc. is expected to support an increase in demand for metrology software by manufacturing companies.

Several committees provide measurement standards in North America and some of these include North American Cooperation in Metrology (NORAMET), National Institute of Standards and Technology (NIST), and Dimensional Metrology Standards Consortium (DMIS). These committees release documents at regular intervals defining updated standards of measurement that need to be adopted by all manufacturers. This factor is also boosting growth in demand for metrology software, which is regulated with recent guidelines released.

In terms of revenue, the automotive segment is projected to be the most attractive segment in the global metrology software market during the forecast period. The automotive segment is expected to register high Y-o-Y growth rates throughout the forecast period and is expected to register a CAGR of 6.5% between 2017 and 2027.

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Traditional measurement devices are stationary and larger in size, but with the introduction of portable measurement devices, the demand has been increasing from a number of verticals, providing an opportunity for metrology software providers to increase their focus on the development of software for measuring portable devices.

Portable measurement devices are witnessing increasing application from verticals including automotive, electronics, industrial manufacturing etc. and are thus expected to witness an increase in demand for metrology software.

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