Coordinate Measuring Machine Market Global Market Report 2024

A Coordinate Measuring Machine (CMM) is a precision measuring instrument used to measure the dimensions of machines and tool parts. It is employed to assess the geometry of real objects and is commonly utilized to test a part or assembly to ensure its compliance with the original design intent. CMMs play a crucial role in quality assurance or quality control workflows, checking the dimensions of manufactured components to prevent or address quality issues.

There are two main types of Coordinate Measuring Machines such as fixed CMM and portable CMM. The fixed CMM operates in a temperature-controlled environment. When a part is transferred for inspection, it must stabilize before measurements can be taken. Inspection routines are often written for each part, or the CMM probe may be manually operated with a joystick to capture measurements. Portable CMMs, on the other hand, offer greater flexibility as they can be moved to the location of the part for measurement. Coordinate measuring machines find applications in various industries, including machinery, automotive, aerospace, heavy machinery, energy, power, electronics, medical, and more. They are utilized for inspection and reverse engineering processes, providing accurate measurements, speed, and reducing the risk of human errors compared to manual inspections or traditional metrology tools.

The coordinate measuring machines market research report is one of a series of new reports that provides coordinate measuring machines market statistics, including global market size, regional shares, competitors with coordinate measuring machines market share, detailed coordinate measuring machines market segments, market trends and opportunities, and any further data you may need to thrive in the coordinate measuring machines industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The coordinate measuring machine market size has grown strongly in recent years. It will grow from $3.43 billion in 2023 to $3.76 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth observed in the historical period in the coordinate measuring machine market can be attributed to various factors, including growth in the automotive sector, increased emphasis on automation, a rise in sustainable manufacturing practices, shortened product development cycles, and broader trends in industrialization. These factors collectively contributed to the expansion and adoption of coordinate measuring machines during that time, reflecting the evolving needs and advancements in manufacturing processes, particularly in industries such as automotive and beyond.

The coordinate measuring machine market size is expected to see strong growth in the next few years. It will grow to $5.44 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The anticipated growth in the forecast period in the coordinate measuring machine market can be attributed to various factors, including the rising aerospace industry, growing demands in the medical sector, adoption of Industry 4.0 and smart manufacturing practices, and an increasing demand for high-quality goods. Major trends expected during this period include the prevalence of non-contact metrology techniques, the integration of 3D scanning and digitization technologies, the adoption of shop-floor Coordinate Measuring Machines (CMMs), the use of multi-sensor CMMs, and the popularity of portable CMMs. These trends collectively highlight the ongoing technological advancements and the diverse applications of coordinate measuring machines across different industries.

The anticipated expansion of the automotive sector is poised to drive the growth of the coordinate measuring machine (CMM) market in the forecast period. The automotive industry encompasses all activities related to the production of motor vehicles and their components. CMMs play a crucial role in the automotive sector by measuring suspension hard points for use in vehicle dynamics simulations. For example, according to the India Brand Equity Foundation, in January 2022, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles reached 1,860,809 units. The Indian government projects significant domestic and foreign investments in the automotive sector, estimating revenues between $8 billion and $10 billion in 2023. Furthermore, Tesla, a prominent US-based automotive and clean energy company, raised a substantial $20.2 billion in funding over 35 rounds in 2020, as reported by Crunchbase. These developments underscore the potential for the expansion of the automotive sector to drive the growth of the coordinate measuring machine market.

The increasing demand for manufactured goods is expected to be a key factor propelling the growth of the coordinate measuring machine market. Manufactured goods encompass products produced through various manufacturing processes, and CMMs play a vital role in ensuring precision, quality, and accuracy in the manufacturing industry. According to Eurostat, industrial output in the European area experienced a 0.2% increase, with a 0.1% increase reported in the European Union between May and April 2023. This highlights the ongoing demand for manufactured goods, driving the need for coordinate measuring machines in manufacturing processes.

A noteworthy trend in the coordinate measuring machine market is the emergence of 3D measurement systems. 3D measurement involves collecting data on the shapes, textures, geometries, and colors of physical objects using various tools, such as 3D scanners. In October 2022, SCANTECH, a France-based high-tech company, launched the TrackScan-P, an optical target-free 3D measurement system. With increased laser lines for enhanced scanning efficiency, upgraded high-resolution cameras, and advanced edge inspection, TrackScan-P utilizes intelligent optical tracking measurement and high-resolution cameras to precisely measure parts without the need for reference targets. This innovation in 3D measurement systems, exemplified by TrackScan-P, is gaining popularity and contributing to advancements in the coordinate measuring machine market.

Prominent companies in the market are actively engaged in the development of innovative machines, such as high-precision coordinate measuring machines (CMMs), to gain a competitive advantage and expand their market share. High-precision CMMs represent advanced metrology devices designed to measure the physical geometrical characteristics of objects with exceptional accuracy. In April 2023, Hexagon AB, a Sweden-based technology group specializing in metrology and geoanalytics, introduced the latest generation of Leitz PMM-C ultra-high-accuracy CMMs. This cutting-edge series sets a new performance benchmark for precision applications in diverse manufacturing settings. The upgraded series features a modular concept, enhanced capabilities, and performance options, catering to a range of requirements from low sub-micron accuracy for small volume applications to high sensor flexibility and swift inspection close to production environments. The Leitz PMM-C series consists of six machine sizes, ranging from 700 x 700 x 500 mm to 2400 x 1600 x 1000 mm, accommodating the inspection of parts with varied sizes and shapes. Manufacturers are provided with clear configuration choices and enhancement options, allowing them to tailor the measurement system precisely to meet their specific application requirements.

In March 2021, AIMS Metrology, a US-based manufacturer of coordinate measuring machines (CMM), completed the acquisition of Measurement Specialties Inc. for an undisclosed amount. This strategic move by AIMS Metrology aims to enhance control quality and delivery timeframes for components produced for its Revolution Series 5-axis CMMs. Additionally, the acquisition expands AIMS Metrology's service footprint. Measurement Specialties, Inc. is a US-based provider of electronic measurement devices and coordinate measuring machines. This acquisition reinforces AIMS Metrology's position in the market and underscores its commitment to delivering high-quality CMM solutions.

Major companies operating in the coordinate measuring machine market 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., Perceptron Health Inc., WENZEL Group GmbH & Co. KG, Aberlink Ltd., Accurate Gauging & Instruments Pvt Ltd, Dukin Co. Ltd., Carl Zeiss AG, Applied Automation Technologies Inc., Avon-Dynamic, Velocity Machine 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.

Asia-Pacific was the largest region in the coordinate measuring machine market in 2023. The regions covered in the coordinate measuring machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the coordinate measuring machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

The coordinate measuring machine market consists of sales of measuring machines bridge equipment, cantilevers, gantry, and horizontal arms. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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