Metrology Market Synopsis:
Metrology deals with the scientific study of measurements with respect to the industry standards and various units of parameters. The evolving measurement techniques integrated with rapid technological advancement is supplementing the demand of accurate and reliable metrology products. Market Research Future (MRFR) has recently availed a report providing comprehension and perception of the current trends of the global metrology market. The report asserts that the global metrology market is expanding at a CAGR of 6.82% during 2016-2027.
The emerging adaptation to automation, high tech solutions and standardization of measurements has unlocked the doorways for metrology solutions in various industries. The major driver for the growth of metrology market is increasing implication of measurement solutions in the industries such as aerospace, automotive, military, energy and power and manufacturing.
The booming industrialization, increased usage of metrological solutions in scientific field to carry out various studies and stringent industrial norms in developed and developing regions of the globe are causing the surge of multiple metrology solutions in the global market. The end-users such as aerospace, automotive and manufacturing industries are accuracy-centric industries with stringent quality norms. Hence, the inability of traditional measurement solutions to provide accuracy and precision measurement to such industries is necessitating the need for reliable products in the metrology market. The focus of players in this market to provide authentic metrology solutions is embarking competition among the prominent players to skyrocket leading to the growth of global metrology market. On the flip-side, the lack of skilled technicians to operate precision equipment such as coordinated measuring machines (CMM) are hindering the growth of the global metrology market. The players in metrology market are undertaking various initiatives to overcome such hitches and provide innovative automated solutions to establish their position in the global market.
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The metrology market has been segmented on the basis of type, product and end-users. On the basis of type, it is segmented into industrial metrology, scientific metrology and legal metrology. On the basis of products, the market is segmented into coordinated measuring machine (CMM) and optical digitizers, 3D scanners, Laser trackers and others. On the basis of end-users, the market is segmented into aerospace, automotive, consumer electronics, industrial, and energy & power among others. On the basis of region, the global metrology market is segmented into North and South America, Europe, Asia-Pacific and the rest of the world.
The MRFR report on metrology market indicates that industrial metrology is the fastest growing segment whereas the coordinated measuring machine (CMM) is anticipated to have the largest market share in the global metrology market.
Europe is envisioned to dominate with the largest market share in the global metrology market due to the continuous technological advancement and increasing financial support from the government in this region. The boost in industrialization and rapid evolution of technology is driving the market in APAC region to higher verticals. The surge in demand of high quality products in manufacturing and automation sector in countries like China, India and other growing economies is fuelling the augmentation of metrology market in this region.
The increase in demand for accuracy and precision measurements in multiple industries is acting as an invitation to different entities for investing in the metrology market causing the hike in the competition among the player companies in the global metrology market. The prominent players in the metrology market include Carl Ziess (Germany), Hexagon AB (Sweden), Mitutoyo Corp. (U.S.), Reinshaw (U.K.), Nikon metrology (Belgium), Metrology software product Ltd. (U.K.), 3D Digital Corporation (U.S.), Perceptiopn Inc. (U.S.) and Faro Technologies (U.S.) and others.
Table of Content:
5 Market Factor Analysis
5.1 Supply Chain Analysis
5.2 Porter’s Five Forces Analysis
5.2.1 Threat Of New Entrants
5.2.2 Bargaining Power Of Suppliers
5.2.3 Bargaining Power Of Buyers
5.2.4 Threat Of Substitutes
6 Global Metrology Market, By Type
6.2 Market Size By Sub-Segments
6.2.1 Industrial Metrology Market
6.2.2 Scientific Metrology Market
6.2.3 Other Metrology Market
7 Global Metrology Market, By Product
7.2 Market Size By Sub-Segments
7.2.1 Coordinate Measuring Machine (CMM) Market
7.2.2 Optical Digitizers And Scanners (ODS) Market
7.2.3 Other Metrology Products Market
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