Industrial Metrology Industry size is expected to register 6% CAGR between 2024 and 2032 propelled by increasing demand for high-precision measurement solutions.
Selbyville, Delaware, Sept. 05, 2024 (GLOBE NEWSWIRE) — Industrial Metrology Market value could reach USD 21.5 billion by 2032, as per a recent study by Global Market Insights Inc.
The rapid adoption of advanced metrology solutions in manufacturing and quality control processes, coupled with the growing emphasis on precision and accuracy, will drive market growth from 2023 to 2032. The rising expansion of production facilities by leading companies supports the market. For instance, in May 2024, Renishaw inaugurated a new, eco-friendly facility in São Paulo, Brazil, to better serve its expanding customer base in South America. The versatile facility included an industrial metrology showroom, areas for additive manufacturing systems, conference and event spaces, and dedicated zones for retrofitting and service operations. Additionally, technological advancements, including the integration of AI and IoT with metrology systems, are further enhancing the capabilities of these tools, enabling more efficient and precise measurements across various applications.
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Coordinate Measuring Machines (CMM) to Drive Market Growth
Industrial metrology market size from coordinate measuring machine (CMM) segment is poised for significant growth between 2024 and 2032, fueled by the increasing demand for precise dimensional inspection in manufacturing industries. CMMs are widely used in quality control systems across various sectors, including automotive, aerospace, and electronics, where accuracy and reliability are paramount. The advancement of CMM technology, including the integration of touchless probing systems and enhanced software capabilities, is further driving their adoption. As manufacturers seek to improve product quality and reduce production costs, the CMM segment is expected to play a crucial role in the industrial metrology industry, contributing to its overall growth.
Reverse Engineering to Experience Significant Upsurge
The reverse engineering segment will experience a notable upturn by 2032, driven by the growing need for product design validation, prototyping, and the recreation of obsolete parts in various industries. Reverse engineering allows companies to analyze and replicate existing products, improving design efficiency and enabling innovation. The increasing adoption of 3D scanning technology and advanced software tools in reverse engineering processes is further enhancing the accuracy and speed of product development. As industries focus on reducing time-to-market and improving product performance, the demand for reverse engineering solutions is expected to rise, making it a key contributor to the industrial metrology industry expansion.
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Europe to Maintain Strong Market Presence
Europe Industrial Metrology Market will register a significant market CAGR from 2023 to 2032, driven by the region’s strong industrial base, particularly in the automotive and aerospace sectors. Countries such as Germany, the United Kingdom, and France are leading the adoption of advanced metrology solutions to enhance manufacturing precision and maintain stringent quality standards. The presence of established metrology equipment manufacturers and a robust focus on research and development further bolster Europe’s position in the global market. Additionally, the region’s emphasis on Industry 4.0 and smart manufacturing initiatives is driving the integration of digital technologies with metrology systems, creating new opportunities for market growth. Europe’s pivotal role in the global industrial metrology industry underscores its contribution to advancing manufacturing capabilities and maintaining competitive advantages in various sectors.
Industrial Metrology Market Players
Leading companies in the industrial metrology industry include Hexagon AB, FARO Technologies, Nikon Metrology, KEYENCE CORPORATION, Carl Zeiss AG, Renishaw PLC, and Mitutoyo Corporation.
The industrial metrology market is experiencing significant growth driven by technological advancements from key companies. Firms like Hexagon AB and Mitutoyo Corporation are pioneering innovations in precision measurement, enhancing quality control and efficiency across industries. Their investments in advanced metrology solutions and integration with digital technologies are boosting market demand and shaping the future of industrial measurement.
In April 2023, Hexagon’s Manufacturing Intelligence division unveiled its next-generation Leitz PMM-C coordinate measuring machines, renowned for their ultra-high accuracy. This new series continues to set the benchmark in precision measurement, offering exceptional accuracy and minimal measurement uncertainty for a wide range of demanding manufacturing applications.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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