PUNE, India, May 4, 2018 /PRNewswire/ --
According to the new market research report on "Industrial Metrology Market by Offering, Product, Application (Reverse Engineering, Quality & Inspection, Mapping & Modelling), Industry (Aerospace & Defense, Automotive, Precision Manufacturing, Consumer), and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to grow from USD 9.62 Billion in 2018 to USD 12.97 Billion by 2023, at a CAGR of 6.2% during the forecast period. The growing big data analytics market and increasing demand for inspection services from precision manufacturing drive the growth of industrial metrology market. Moreover, increasing focus on quality control in various industries also contributes to the growth of this market.
(Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )
Browse 74 market data Tables and 44 Figures spread through 139 Pages and in-depth TOC on "Industrial Metrology Market - Global Forecast to 2023"
Early buyers will receive 10% customization on this report
Hardware to hold largest size of industrial metrology market between 2018 and 2023
The major driver for the growth of the industrial metrology market for hardware is the increasing adoption of industrial metrology products in the industries such as aerospace and defense, and automotive to maintain product quality. Moreover, the use of 2D metrology products for dimensioning and inspection applications also contributes to the growth of the market for hardware.
Industrial metrology market for coordinate measuring machine to grow at a high CAGR between 2018 and 2023
The rising need for precision dimensional analysis and validation of geometric accuracy in the manufacturing, automotive, aerospace, and military industries contribute to the largest share of coordinate measuring machines (CMMs) in the market based on equipment.
Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=190782079
Quality control and inspection application to hold largest size of industrial metrology market between 2018 and 2023
Industries such as automotive and aerospace face increasing demand for intense quality control and inspection; not meeting quality standards can hamper their reputation and, ultimately, their brand and business. Thus, these industries are prominently adopting industrial metrology for the quality control and inspection application.
Industrial metrology market for automotive industry to grow at significant CAGR between 2018 and 2023
The shift in preference from off-line quality inspection to near-line or in-line measurement techniques, enabling higher sampling rates and shorter inspection times in automotive sector, drives the growth of the industrial metrology market for the automotive industry. Moreover, the growing demand for automobiles in developing countries, such as India and China, is expected to fuel the growth of industrial metrology market in the near future.
APAC held largest share of industrial metrology market in 2017
Highest CAGR of the market in APAC is attributed to the high economic growth of the major countries, such as China and Japan, in this region. China has a huge potential in terms of the applications of industrial metrology offerings. Moreover, with the initiatives taken by the Government of India to encourage local and foreign players to have a manufacturing set-up in India is likely to boost the industrialization, thereby making it an attractive market for industrial metrology.
The major players in the industrial metrology market include Hexagon (Sweden), FARO Technologies (US), Nikon Metrology (Belgium), Carl Zeiss Optotechnik (Germany), Jenoptik (Germany), GOM (Germany), and Creaform (Canada). Other prominent players are Renishaw (UK), KLA-Tencor (US), Applied Materials (US), Perceptron (US), GoM (Germany), Automated Precision (US), JLM Advanced Technical Services (US), Precision Products (US), CARMAR ACCURACY (Taiwan), Pollen Metrology (France), and Cairnhill Metrology (Singapore).
Know more about the Industrial Metrology Market:
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
630 Dundee Road
Northbrook, IL 60062
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets