Frost & Sullivan: High Uptake of Low-cost Products in BRIC to Drive the Dimensional Metrology Market
- A direct presence in Brazil, Russia, India and China is vital for overall market visibility and growth
MOUNTAIN VIEW, California, April 16, 2013 /PRNewswire/ -- The increasing awareness of the need to accurately measure critical components by consumers has been the biggest driver for the dimensional metrology market. There is significant use of metrology in the automotive, aerospace and defense industries. Brazil, Russia, India and China (BRIC) is intensifying its focus on these industries, thus creating a positive outlook for the market.
New analysis from Frost & Sullivan (http://www.testandmeasurement.frost.com), Analysis of the Dimensional Metrology in Emerging Economies, finds that the market earned revenue of $203.9 million in 2011 and estimates this to reach $275.6 million in 2016. The study covers the market segments of coordinate measuring machines (CMM) and the optical digitizer and scanner (ODS).
If you are interested in more information on this research, please send an e-mail to Jeannette Garcia, Corporate Communications, at jeannette.garcia@frost.com, with your full name, company name, job title, telephone number, company e-mail address, company website, city, state and country.
Market participants are expanding their sales and marketing presence in the BRIC countries to make the most of the nations' strong market revenue potential. Their direct presence in these emerging countries will fuel competition and therefore, growth.
Successful metrology vendors in BRIC have understood the importance of client interaction and customer-centric product development. In the future, all equipment vendors are likely to work toward expanding their direct presence in this area.
"Further, initiatives to educate customers on technology and new application markets will increase awareness and generate revenue for dimensional metrology equipment vendors," said Frost & Sullivan Test & Measurement Research Analyst Aravind Govindan.
Low-cost CMMs have broken entry barriers in BRIC countries. In traditionally conservative industries, such as heavy machinery, customers are hesitant to adopt new technologies such as ODS. However, leading market participants' efforts to manufacture low-cost CMMs is expected to boost their revenue potential.
Meanwhile, in the ODS market, vendors customize the prices of their solutions to the region's needs and price sensitivity. Although there is demand for high-end solutions, the low- and mid-range segment accounts for the majority of sales in BRIC countries. As technology improves, the cost of these solutions is expected to decline.
Despite the prevailing economic uncertainty, market participants are optimistic about their prospects. Recently, growing pressure from European and American automotive manufacturers for quality output and standardized manufacturing processes across the value chain has raised the demand for CMMs.
"Due to the slow economic recovery in the U.S. and Europe, BRIC's exports to developed countries dropped significantly, resulting in inadequate capital expansion and budget approvals for upgrading plant facilities among end users," noted Govindan. "However, the gradual recovery of the automotive industry in developed countries is expected to bring more investments to automotive plants located in the BRIC countries, thus stimulating the dimensional metrology market."
Analysis of the Dimensional Metrology in Emerging Economies is part of the Test & Measurement Growth Partnership Service program. Frost & Sullivan's related research services include: Global Dimensional Metrology Market in the Medical Devices, Global Metrology Services Market, Optical Digitizer, and Scanners Market and Vision Measuring Machines Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
Analysis of the Dimensional Metrology in Emerging Economies
NBAC-30
Contact:
Jeannette Garcia
Corporate Communications – North America
P: +1.210.477.8427
E: jeannette.garcia@frost.com
Like us on Facebook: www.facebook.com/frostandsullivan
Follow us on Twitter: @Frost_Sullivan
SOURCE Frost & Sullivan
Share this article