The resurgence in the industrial sector post economic slowdown coupled with the growing trend towards automated manufacturing units is instrumental in driving demand for metrology solutions and services. Furthermore, advancements in measurement technologies and mounting preference for portable metrology solutions have further fueled market momentum. These factors are expected to contribute towards a compounded annual growth rate (CAGR) of 7.9% during the forecast period 2021 – 2029. However, issues such as lack of product differentiation and the requisite expertise to efficiently operate metrology solutions may pose moderate challenge to the growth prospects over the forecast period. The global metrology services market is expected to expand at a CAGR of 7.9% from 2021 to 2029, exceeding US$ 1451.89 Mn by 2029.
This report analyzes the global metrology services market in terms of product type, end-use application, and geography. On the basis of product type, the market is segmented into Coordinate Measuring Machines (CMM) and Optical Digitizers and Scanners (ODS). Similarly, on the basis of end-use application, the market for metrology services is further classified into industrial manufacturing, automotive, electrical and electronics, aerospace, and energy and power among others. The geographical distribution of the global metrology services market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Purpose of the Report
The purpose of this strategic research study titled “Global Metrology Services Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global metrology industry.
Target Audience
USP and Key Offerings
The report titled “Global Metrology services Market- Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global metrology services market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on applications, product type, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading metrology services providers their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments.
Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global metrology services market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
On the basis of product type, the global metrology services market is categorized into following segments:
In terms of revenue, optical digitizers and scanners comprising 3D laser scanners, laser trackers, and while light scanners dominated the global metrology services market in the base year of 2020. The segment accounted for over 55% of the global metrology services market revenue in the same year. The segment is expected to witness comparatively higher growth than coordinate measuring machines during the forecast period 2021 – 2029. Growing demand for precise, accurate and 3D measurements is favoring demand for optical digitizers and scanners across the globe. On the other hand, the growing preference for optical digitizers and scanners is expected to coincide with the revenue decline in the coordinate measuring machine segment. While the metrology service market for coordinate measuring machines is witnessing sluggish growth, the demand for articulated arm metrology services is on an upsurge and is estimated to witness steady growth during the forecast period.
Growing end-use consumption owing to ever rising population has put pressure on manufacturers to supply quality turn-key products in shorter lead times. Metrology services help manufacturers to enhance and improve manufacturing processes by allowing minute measurements and inspection of every element involved. Thus, metrology solutions are increasingly finding adoption across varied industry verticals.
On the basis of end-use application, the global metrology services market is categorized into following segments:
As of 2020, the global metrology services market was led by the industrial manufacturing segment. The segment accounted for over 28% of the global metrology services market revenue in the same year and is expected to exhibit robust growth during the forecast period. The growing trend towards complete automation in manufacturing facilities bodes well for market growth in this segment. The automotive was the second largest end-use application market, which accounts for around one-fourth of the global market revenue. The market for automotive metrology services is expected to be driven by growing demand and production of automobiles across the globe.
On the basis of geography, the global metrology services market is segmented into following regions and countries.
In the base year of 2020, Asia Pacific was the largest metrology services market in terms of revenue. The region is also poised to exhibit strong growth during the forecast period led by demand from India and China. The dominance and anticipated growth in the region can be majorly credited to growing demand for high-precision components in multiple industries including automotive, semiconductors and power generation among others. The trend is expected to continue and the region is poised to retain its leading position throughout the forecast period 2021 – 2029. The demand for metrology solutions and services in the region is also attributed to increasing automation of industrial manufacturing units.
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This report analyzes the global metrology services market in terms of product type, end-use application, and geography. On the basis of product type, the market is segmented into Coordinate Measuring Machines (CMM) and Optical Digitizers and Scanners (ODS). Similarly, on the basis of end-use application, the market for metrology services is further classified into industrial manufacturing, automotive, electrical and electronics, aerospace, and energy and power among others. The geographical distribution of the global metrology services market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Purpose of the Report
The purpose of this strategic research study titled “Global Metrology Services Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global metrology industry.
Target Audience
- Industry Investors
- Metrology Solution Providers
- Distributors
- End-users
USP and Key Offerings
The report titled “Global Metrology services Market- Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global metrology services market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on applications, product type, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading metrology services providers their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments.
Other in-depth analysis provided in the report includes:
- Current and future market trends to justify the forthcoming attractive markets within the metrology services market
- Market fuelers, market impediments, and their impact on the market growth
- In-depth competitive environment analysis
- Value Chain Analysis
- Historic Market Figures (2019 and 2020)
- SRC (Segment-Region-Country) Analysis
Overall, the research study provides a holistic view of the global metrology services market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
On the basis of product type, the global metrology services market is categorized into following segments:
- Coordinate Measuring Machines (CMM)
- Articulated Arm Machines
- Horizontal Arm Machines
- Gantry Machines
- Bridge Machines
- Optical Digitizers And Scanners (ODS)
- 3D Laser Scanners And Trackers
- White Light Scanners
In terms of revenue, optical digitizers and scanners comprising 3D laser scanners, laser trackers, and while light scanners dominated the global metrology services market in the base year of 2020. The segment accounted for over 55% of the global metrology services market revenue in the same year. The segment is expected to witness comparatively higher growth than coordinate measuring machines during the forecast period 2021 – 2029. Growing demand for precise, accurate and 3D measurements is favoring demand for optical digitizers and scanners across the globe. On the other hand, the growing preference for optical digitizers and scanners is expected to coincide with the revenue decline in the coordinate measuring machine segment. While the metrology service market for coordinate measuring machines is witnessing sluggish growth, the demand for articulated arm metrology services is on an upsurge and is estimated to witness steady growth during the forecast period.
Growing end-use consumption owing to ever rising population has put pressure on manufacturers to supply quality turn-key products in shorter lead times. Metrology services help manufacturers to enhance and improve manufacturing processes by allowing minute measurements and inspection of every element involved. Thus, metrology solutions are increasingly finding adoption across varied industry verticals.
On the basis of end-use application, the global metrology services market is categorized into following segments:
- Industrial Manufacturing
- Automotive
- Aerospace
- Energy and Power
- Electronics and Electrical
- Other End-use Applications (Healthcare, etc.)
As of 2020, the global metrology services market was led by the industrial manufacturing segment. The segment accounted for over 28% of the global metrology services market revenue in the same year and is expected to exhibit robust growth during the forecast period. The growing trend towards complete automation in manufacturing facilities bodes well for market growth in this segment. The automotive was the second largest end-use application market, which accounts for around one-fourth of the global market revenue. The market for automotive metrology services is expected to be driven by growing demand and production of automobiles across the globe.
On the basis of geography, the global metrology services market is segmented into following regions and countries.
- North America
- U.S.
- Canada
- Europe
- United Kingdom
- France
- Germany
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Rest of Asia Pacific
- Rest of the World
- Latin America
- Middle East and Africa
In the base year of 2020, Asia Pacific was the largest metrology services market in terms of revenue. The region is also poised to exhibit strong growth during the forecast period led by demand from India and China. The dominance and anticipated growth in the region can be majorly credited to growing demand for high-precision components in multiple industries including automotive, semiconductors and power generation among others. The trend is expected to continue and the region is poised to retain its leading position throughout the forecast period 2021 – 2029. The demand for metrology solutions and services in the region is also attributed to increasing automation of industrial manufacturing units.
This product will be delivered within 2 business days.
Table of Contents
1. Preface
2. Executive Summary
3. Global Metrology Services Market Analysis
4. Global Metrology Services Market Revenue, By Product, 2019 - 2029 (US$ Mn)
5. Global Metrology Services Market Revenue, By End-use Application, 2019 - 2029 (US$ Mn)
6. North America Metrology Services Market Analysis, 2019 - 2029 (US$ Mn)
7. Europe Metrology Services Market Analysis, 2019 - 2029 (US$ Mn)
8. Asia Pacific Metrology Services Market Analysis, 2019 - 2029 (US$ Mn)
9. Rest of World Metrology Services Market Analysis, 2019 - 2029 (US$ Mn)
10. Company Profiles
Companies Mentioned
- Hexagon AB
- Carl Zeiss AG
- Renishaw Plc.
- Mitutoyo Corporation
- Nikon Metrology Inc.
- Danish Micro Engineering A/S
- Optical Gaging Products Inc.
- Trescal SA
- Optical Metrological Services
- Faro Technologies Inc.
- Perceptron Inc.
- GE Measurement & Control Solutions Inc.
