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Metrology Services Market By End-Use Application (Industrial Manufacturing, Automotive, Electronics and Electrical, Aerospace, Energy and Power, and Other End-use Applications), By Product (Coordinate Measuring Machines (Articulated Arm Machines, Gantry Machines, Bridge Machines, and Horizontal Arm Machines), and Optical Digitizers and Scanners (3D Laser Scanners and Trackers, and White Light Scanners)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 - 2023

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 preferences for portable metrology solutions have further fueled market momentum. These factors are expected to contribute to a compounded annual growth rate (CAGR) of 7.9% during the 2016–2023. However, issues such as lack of product differentiation and the requisite expertise to efficiently operate metrology solutions may pose a moderate challenge to the growth prospects over the forecast period. As a result, the global metrology services market is expected to expand at a CAGR of 7.9% from 2016 to 2023, exceeding US$ 985.0 Mn by 2023.

Report Scope

This report analyses the global metrology services market regarding product type, end-use application, and geography. Based on product type, the market is segmented into coordinate measuring machines (CMM) and optical digitizers and scanners (ODS). Similarly, based on 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 global metrology services market's geographical distribution in this study encompasses regional markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

1.1 Report Description

Purpose of the Report

The purpose of this strategic research study titled "Global Metrology Services Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023" is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global metrology industry.

Target Audience

  • Industry Investors
  • Metrology Solution Providers
  • Distributors
  • End-users

Overall, the research study provides a holistic view of the global metrology services market, offering market size and estimates for the period from 2014 to 2023, keeping in mind the above-mentioned factors.

Based on product type, the global metrology services market is categorized into the 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 and laser trackers, dominated the global metrology services market in 2015. The segment accounted for over 55% of the global metrology services market's revenue in the same year. The segment is expected to witness comparatively higher growth than coordinate measuring machines during the forecast period of 2016–2023. The growing demand for precise, accurate, and 3D measurements is favoring the 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 rising and is estimated to witness steady growth during the forecast period.

Growing end-use consumption owing to an ever-rising population has put pressure on manufacturers to supply quality turn-key products in shorter lead times. Metrology services help manufacturers enhance and improve manufacturing processes by allowing minute measurements and inspections of every element involved. Thus, metrology solutions are increasingly finding adoption across varied industry verticals.

Based on end-use application, the global metrology services market is categorized into the following segments:

  • Industrial Manufacturing
  • Automotive
  • Aerospace
  • Energy and Power
  • Electronics and Electrical
  • Other end-use applications (healthcare, etc.)

The contribution of these applications to the global metrology services market in 2015 and 2023 is shown in the figure below.

As of 2015, the global market for metrology services was led by the industrial manufacturing segment. The segment accounted for over 28% of the global metrology services market's revenue in the same year and is expected to exhibit robust growth during the forecast period. The growing trend toward complete automation in manufacturing facilities bodes well for market growth in this segment.

The automotive industry 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 the growing demand for and production of automobiles across the globe.

On the basis of geography, the global market for metrology services is segmented into the 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 2015, 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 a 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 of 2016–2023. The demand for metrology solutions and services in the region is also attributed to the increasing automation of industrial manufacturing units.

Frequently Asked Questions:

The market for Metrology Services Market is expected to reach US$ 985.0 Mn by 2023.

The Metrology Services Market is expected to see significant CAGR growth over the coming years, at 7.9%.

The report is forecasted from 2016-2023.

The base year of this report is 2015.

Hexagon AB, Carl Zeiss AG, Renishaw Plc, Mitutoyo Corporation,Nikon Metrology Inc.are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jul 2016
Category:  Semiconductor & Electronics
Report ID:   57969
Report Format:   PDF
Pages:   120
Rating:    4.5 (70)
Delivery Time: 24 Hours to 48 Hours   
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