Metrology Market – Challenges, Key Vendors, Drivers and Trends by Forecast to 2027

Metrology Global Market Overview:
Metrology is a scientific study of measurement with respect to various units of parameters and industry standard. It provides precise measurements by implementing traditional and practical measurements. The growing concerned of manufacturers towards accuracy and precision in their products and to ensure product quality has assured high growth in adoption of metrology measurements into their manufacturing process.

According to a recent study report published by the Market Research Future, The global market of Metrology is increasing and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).

The Global Metrology Market is driven growing quality requirement in industrial products, use of technically advanced devices for measurement, and emerging high tech robots serviceable in automation, energy harvesting and semiconductor wafer inspection among others. On the other hand, lack of technical expertise and high initial cost of machines are some of the factors hindering the growth of Metrology Market.

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Major Key Players:
• Hexagon AB (Sweden)
• Carl Zeiss (Germany)
• Mitutoyo Corp.(U.S)
• Nikon metrology (Belgium)
• Renishaw (U.K.)
• metrology software product Ltd.(U.K.)
• Pantec metrology (Germany)
• Perceptron Inc.(U.S.)
• 3D Digital Corporation (U.S.)
• Faro Technologies (U.S.)

Industry News:
November 2017 – Hexagon AB has introduced a portable ultra-large laser scanner named “Leica Absolute Scanner LAS-XL” designed to speed up measurement and accuracy testing process of industrial manufacturing.

November 2017: Jenoptik AG has introduced laser robot systems for 3D laser metal cutting technology of chassis components for the automotive industry. This systems capable of cutting complex car body components made of materials such as ultra-high steel and cast aluminium.

October 2017 – Hexagon AB has upgrade the temperature range of its shop floor coordinate measuring machine. The CMM which operates in temperature range of 15 degree to 30 degree, now is extended upto 40 degree. This enhancement in temperature enable its customers to deliver accurate measurement in greater range of operating environment.

September 2017 – Hexagon AB has launched HTA (high throughput and accuracy) measurement solution range for industry specific applications. This new solution speed up the scanning process which help in delivering measurement data on time thereby an ideal solution for manufacturers of automotive, aerospace and other industries.

Metrology Global Market Competitive Analysis:
Hexagon AB is the leading market player in metrology market and has occupied highest market share globally in 2016. The company has geographical reach in 46 countries with more than 16000 employees. It offers wide range of products related to metrology including metrology management system, in-line metrology, metrology software & sensors. It offers industrial metrology solutions to automotive, aerospace, electronics, energy and medical industry.

Also. Hexagon AB is among those few companies which also offers traceable assembly and inspection system to mobile phone manufacturers. Other than Hexagon, Nikon Metrology, Renishaw, Carl Zeiss and Mitutoyo Corporation are also some of the major players supporting the growth of metrology market.

Metrology Global Market Segmentation:
The Metrology Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;

Segmentation by Type : Industrial and Scientific.

Segmentation by Product: Coordinate measuring machine (CMMs) and optical digitizers & scanners (ODS).

Segmentation by End-User: Automotive, Aerospace, Energy & Power, Manufacturing and Consumer Electronics.

Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World.

Metrology Global Market Regional Analysis:
Europe is dominating the Global Metrology Market with the largest market share and therefore accounting for astronomical amounts and is expected to grow over its previous growth records by 2023. The Metrology market has vast scope in the region due to the presence of major automotive industries in the region. The integration of automobile manufacturing process with metrology is expected to support the automotive sector in inspection and improving the performance of vehicles. North America is expected to generate second highest market revenue in 2016. Metrology Market in Asia-Pacific market is expected to grow at a substantial CAGR during 2016 to 2027 due to Technological and industrial growth in Asian countries, such as China and Japan.

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This release was published on openPR.