Market Size of Industrial Metrology Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 6.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Industrial Metrology Market Analysis
The industrial metrology market is expected to register a CAGR of 6.0% during the forecast period. Growing focus on quality control in various industries, rising demand for automobiles in developing countries, and the developing Big Data analytics market have driven the industrial metrology market. Companies such as Faro (US), Carl Zeiss (Germany), and Nikon Metrology (Belgium) are offering Big Data analytics, data management, data security, and mobile app solutions for the metrology market.
- Furthermore, BMW has developed an innovative, fully automated inline measurement cell for quality control. This new inline multiple measurement cell streamlines this phase by integrating the measurement process into the production flow and can operate 24/7 if required. The inline measurement cell features four robots and a range of innovative measurement methods, including Laser Radar.
- The development of 3D measurement solutions, portable CMM, robot-mounted optical CMM scanners, cloud-based software application platforms, and dimensional metrology services led to high growth in the market. For instance, in October 2021, ZEISS confirmed the acquisition of Capture 3D, a prominent GOM 3D non-contact measuring solutions provider based in the USA. Capture 3D delivers 3D measurement solutions to help customers significantly improve product design, manufacturing, quality control, and production processes.
- The growing adoption of IoT-enabled sensors across the manufacturing value chain also brings advancements in the measuring process. In 2021, the Institute for Laser Technologies in Medicine and Metrology (ILM) at the University of Ulm developed a special sensor for short measurement times and environmental influences. It uses multi-wavelength digital holography, and allied implementation allows the collection of topographic data of an entire area for diffuse and specular reflective surfaces within one image.
- Furthermore, the COVID-19 pandemic and the measures taken by governments and businesses around the world have accelerated the digital transformation of industries. These measures include increased budgets for digital transformation projects. However, the pace of infrastructure evolution, which forms metrology as one of its core elements, has not been balanced.
- Due to the COVID-19 outbreak, the work environments were redesigned with fewer workers spending less time collaboratively due to physical-distancing requirements. This created an acute need for industries to be more agile. Hence, the demand for industrial metrology is expected to increase globally over the coming years. The worldwide impact of this virus is pushing virtual and online tools, which may further boost the growth of the industrial metrology market.
Industrial Metrology Industry Segmentation
Industrial metrology is used to ensure that instruments used in a wide variety of industries are functioning properly. It also provides measurement instruments' appropriateness, maintenance, quality control, and proper calibration. There are various types of industrial metrology such as hardware, software, and services that include different equipment such as Coordinate Measuring Machine, Optical Digitizer, and Scanner, Measuring Instrument, X-Ray and Computed Tomography, Automated Optical Inspection, 2D Equipment, and various Applications such as Reverse Engineering, Quality Control and Inspection, Mapping and Modelling among different End User Industries like Aerospace and Defense, Automotive, Manufacturing, Semiconductor in multiple geographies. The impact of Covid-19 on the market and affected segments are also covered under the scope of the study.
By Type | |
Hardware | |
Software | |
Services |
By Equipment | |
Coordinate Measuring Machine | |
Optical Digitizer and Scanner | |
Measuring Instrument | |
X-Ray and Computed Tomography | |
Automated Optical Inspection | |
2D Equipment |
By Application | |
Reverse Engineering | |
Quality Control & Inspection | |
Mapping and Modelling | |
Other Applications |
By End User Industry | |
Aerospace and Defense | |
Automotive | |
Manufacturing | |
Semiconductor | |
Other End User Industries |
By Geography | |
North America | |
Europe | |
Asia Pacific | |
Rest of the World |
Industrial Metrology Market Size Summary
The industrial metrology market is poised for significant growth, driven by an increasing emphasis on quality control across various sectors, the rising demand for automobiles in developing regions, and advancements in Big Data analytics. Key players such as Faro, Carl Zeiss, and Nikon Metrology are enhancing their offerings with solutions that integrate Big Data analytics, data management, and mobile applications. Innovations like BMW's automated inline measurement cell and ZEISS's acquisition of Capture 3D highlight the industry's shift towards advanced measurement solutions, including 3D measurement technologies and cloud-based platforms. The adoption of IoT-enabled sensors and digital transformation accelerated by the COVID-19 pandemic further propels the market, as industries seek more agile and efficient measurement processes.
The automotive sector is a major contributor to the industrial metrology market's expansion, with the shift towards automated manufacturing facilities and the increasing demand for electric vehicles driving the need for precise measurement and quality assurance processes. The Asia-Pacific region is expected to dominate the market, supported by robust automotive and manufacturing industries, technological advancements, and substantial government investment in research and development. Initiatives like India's Smart Manufacturing Development and Demonstration Cell exemplify the region's commitment to enhancing industrial metrology capabilities. The competitive landscape is marked by product innovations and strategic mergers and acquisitions, as companies strive to maintain a competitive edge in this evolving market.
Industrial Metrology Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porters Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitutes
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1.2.5 Intensity of Competitive Rivalry
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1.3 Industry Value Chain Analysis
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1.4 Assessment of Impact of COVID-19 on the Industrial Metrology Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Hardware
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2.1.2 Software
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2.1.3 Services
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2.2 By Equipment
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2.2.1 Coordinate Measuring Machine
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2.2.2 Optical Digitizer and Scanner
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2.2.3 Measuring Instrument
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2.2.4 X-Ray and Computed Tomography
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2.2.5 Automated Optical Inspection
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2.2.6 2D Equipment
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2.3 By Application
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2.3.1 Reverse Engineering
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2.3.2 Quality Control & Inspection
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2.3.3 Mapping and Modelling
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2.3.4 Other Applications
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2.4 By End User Industry
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2.4.1 Aerospace and Defense
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2.4.2 Automotive
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2.4.3 Manufacturing
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2.4.4 Semiconductor
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2.4.5 Other End User Industries
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2.5 By Geography
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2.5.1 North America
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2.5.2 Europe
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2.5.3 Asia Pacific
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2.5.4 Rest of the World
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Industrial Metrology Market Size FAQs
What is the current Industrial Metrology Market size?
The Industrial Metrology Market is projected to register a CAGR of 6% during the forecast period (2024-2029)
Who are the key players in Industrial Metrology Market?
Hexagon AB, Renishaw PLC, FARO Technologies, Nikon Metrology and Carl Zeiss AG are the major companies operating in the Industrial Metrology Market.