The global metrology services market size is expected to be worth around US$ 1039.3 million by 2030, according to a new report by Vision Research Reports.
The global metrology services market size was valued at US$ 752.0 million in 2020 and is anticipated to grow at a CAGR of 7.9% during forecast period 2021 to 2030.
|Market Size||US$ 1039.3 Mn by 2030|
|Growth Rate||CAGR of 7.9% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Hexagon AB; Renishaw PLC; Carl Zeiss Ag; Faro Technologies|
Increasing adherence to international quality standards in end-use industries and the need for the development of technologically advanced metrology software packages are expected to drive the growth. Moreover, steady growth in the local markets and surge in the aerospace and defense industries across emerging economies, such as China, India, Japan, Russia, Brazil, and South Korea is also anticipated to fuel the demand for metrology services.
Coordinate Measuring Machine (CMM) product provides precise measurement of the object for testing, assembling, design, profiling, and reverse engineering of parts. Therefore, increasing demand for services such as calibration, machine installation, and retrofitting offered by CMM is expected to drive the growth. Increasing demand for metrology services from different applications such as manufacturing, automotive, and power generation among others is projcted to continue driving the market growth over the forecast period.
By Product Analysis
The CMM product segment is anticipated to reach USD 396.6 million by 2025, at a CAGR of 4.9% over the forecast period. The ability of CMM to provide positional, dimensional and surface measurement in a single system is expected to be the key driving factor for this segment. In addition, CMM provides a precise measurement of objects for testing, assembling, design, profiling, and reverse engineering of parts.
The Optical Digitizer and Scanner (ODS) segment is projected to expand at a CAGR of 7.6% over the forecast period. Laser scanners are capable of capturing entire geometry for inspection and engineering purposes. They offer high accuracy and improved speed in real-time operation.
By Application Analysis
The aerospace segment is expected to expand at a CAGR of 7.2% from 2021to 2030. The development of 3D measurement solutions, portable CMM, robot-mounted optical CMM scanner, cloud-based software application platform, and dimensional metrology services led to the all-pervasive growth of the metrology services.
Automotive application segment is expected to witness moderate growth over the forecast period owing to technological advancements in automobiles resulting in an increased level of precision of components. Every seat, door, panel, and component in an automobile must be precision aligned to promote passenger safety, comfort, and satisfaction.
By Regional Analysis
Asia Pacific is expected to emerge as the fastest-growing region over the forecast period owing to extravagant growth in the regional aerospace and defense industry. The industrial and power generation applications are expected to drive the metrology services market in Asia Pacific.
North America led the market in 2020 and is expected to continue the dominance over the forecast period. Europe closely followed the North American region. There are a large number of automotive manufactures present in Europe.
Hexagon AB, Renishaw PLC, Carl Zeiss Ag, and Faro Technologies
Articulated Arm Machines
Horizontal Arm Machines
3D Laser Scanners
White Light Scanners
Rest of World
The Metrology Services market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Metrology Services market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Metrology Services market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Metrology Services market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Metrology Services market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Metrology Services capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Metrology Services by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Metrology Services market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Metrology Services market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Metrology Services market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Metrology Services industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Metrology Services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Metrology Services market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Metrology Services market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Metrology Services market. These factors have benefited the growth of the global market for Metrology Services. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Metrology Services. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Metrology Services are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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