Market Scope
Market Research Future (MRFR) anticipates that the metrology
market 2020 can gain a valuation of USD 15.42 Billion by 2030. It is also
expected that the market size can advance at a rate of 6.4%. We will provide
COVID-19 impact analysis with the report, along with all the key developments
since the coronavirus disease outbreak.
Leading Market Firms
The top market firms covered in the market study include 3D
Digital Corporation (U.S.), Mitutoyo Corp. (U.S.), Nikon metrology (Belgium),
Faro Technologies (U.S.), Metrology software product Ltd. (U.K.), Reinshaw
(U.K.), Hexagon AB (Sweden), Perceptiopn Inc. (U.S.), Carl Ziess (Germany), to
list a few.
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Top Drivers and Key Challenges
The COVID-19 outbreak has affected the worldwide economy by
forcing the global population into lockdown and giving rise to challenges in
the form of health crisis. Businesses everywhere are adopting mitigation
tactics to bring down the COVID-19 impact on the revenue and the slowdown of
the industrial production. The pandemic has led curbed movement of
non-essential items as well as resources, which has brought the manufacturing
of equipment to a standstill across the globe. This is no doubt expected to
have a domino effect on the equipment manufacturers across the metrology
market, with a continuously growing gap between demand and supply
SARS-CoV-2 has compelled companies to elevate their remote
working abilities to remain resilient. However, the onset of the novel
coronavirus has accelerated the consumption of connected equipment, IoT and
advanced technologies such as predictive maintenance, and more, which can
significantly benefit the metrology market. Machine vision is being
increasingly integrated into metrology machines for enhanced capabilities, with
top players continuously adopting product launches as the top strategies to
draw in more number of consumers. For instance, in July 2020, NM3D Ibérica,
a renowned metrology solutions vendor in Spain and Portugal, launched its
latest metrology technology that works with the integrated deployment of a
machine vision system, superior computer software and high precision CM.
Machine vision has quickly become a significant aspect of the 4.0-powered smart
infrastructure.
The Metrology
Market Size has been positively shaped by the rising consumer
preference for efficient industrial products and the surge in technological
innovations in measurement techniques. To manufacture highly efficient products
with higher quality and greater durability, various industries like aerospace,
automotive, consumer electronics, manufacturing and energy & power are
taking up metrology solutions. Also, the stipulated rise in the sales of luxury
fuel efficient automotive vehicles while considering every possible safety
measurement, particularly in the emerging countries has also been favorable for
the metrology industry.
Metrology Services Market Trends
The fast uptake of cloud-based metrology software such as
on-machine, geometric dimensioning and tolerance, robotic metrology, point
cloud, automated, multisensory and laser scanning technology can be one of the
key trends that can lead to further expansion of the metrology market.
Segmental Analysis
The metrology market has been considered for type, product and
end-user.
The types of metrology taken in account are scientific
metrology, industrial metrology, and more.
Coordinate measuring machine/CMM, optical digitizers and scanners/ODS,
and others are some of the key products listed in the report. Between these, it
is anticipated that the coordinated measuring machine market can observe better
growth than its counterpart, owing to the calibration, machine installation,
repairing and retrofitting services it provides. However, the market for
optical digitizers & scanners can progress at the fastest rate because of
their fast measurement technique compared to the traditional techniques.
Automotive, energy & power, aerospace, consumer
electronics, manufacturing, and more are the top end-users considered in the
market study.
Regional Insight
The metrology industry has been regionally considered for
North America, Europe, Asia-Pacific, and the rest of the world.
Europe continues to dominate the metrology market since 2016,
with the biggest share of 32%. Since the region has a well-developed
network-based infrastructure, the rapidly evolving demand of the end-consumer
is promptly taken care of by the manufacturers. The rising frequency of
technological innovations along with the increasing back up by the government
in the form of funds has been quite favorable for the metrology market in this
region.
MRFR projects the APAC market to achieve the fastest expansion
rate in the near future, given the striking growth of the aerospace and defense
sector ion the region. The power generation and industrial applications seem to
be driving the growth of metrology services market, with the highest demand
arising for 3D scanner based metrology services. The boom in industrialization
and the accelerated use of metrological services for scientific applications
has elevated the market position in India and China.
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