Covid-19 Influence on Metrology Services Market Insights With Region Specific Analysis 2025
The global MetrologyServices Market is estimated to witness a healthy CAGR during the forecast period, according to a report available on Million Insights. Metrology refers to scientific high precision way of measuring geometrical properties of assemblies and components being produced by manufacturing facilities. Technologically advanced machines are used to perform accurate measurement of the object for assembling, testing, profiling, design, and reverse engineering of components.
Rising
demand for design accuracy and product quality among manufacturing companies to
control operational cost is anticipated to propel metrology services market
growth. High quality finished goods are going to reduce possibilities to
product recall, which will eventually reduce additional operational expenses
for manufacturers. Advent of portable metrology equipment and software-based
process automation is also expected to impel market growth. Moreover,
increasing use of cloud enabled metrology software packages such as point
cloud, on-machine, geometric dimensioning will drive the metrology services
industry over the forecast period.
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Manufacturing
companies are investing in R&D to develop innovative products that can
perform according to quality standards being adopting by end-use industries.
For instance, in May 2019, API launched portable arm coordinate measuring
machine (PCMM). The arm’s features include internal counterbalance for
operator’s comfort and automatic detection of tactile probe diameter. In
addition, this 7-axis arm includes blue laser scanner to perform accurate,
fast, and flexible scanning of complex components. It offers a scanning speed
of 600,000 points per second and laser line width of 200mm.
Product Insights:
Based
on product, the metrology services market can be categorized into
coordinate-measuring machine (CMM) and optical digitizer and scanner (ODS). ODS
segment is anticipated to witness highest CAGR over the forecast period. Laser
scanners have ability to capture overall geometry for engineering and
inspection purposes. They offer high speed and accuracy in real-time
operations. In addition, increasing use of ODS in applications including
automotive component inspection, surface analysis, and powertrain components
will drive segment’s growth in coming years.
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Application Insights:
In
terms of application, the metrology services industry can be categorized into
aerospace, automotive, industrial, power generation, and others. Automotive
segment is expected to witness significant growth over the forecast period
owing to rising focus on safety and comfort. Growing adoption of laser
trackers, portable coordinate measurement system for three-dimensional (3D)
inspection in automobile manufacturing facilities is driving segment’s growth.
In addition, rising demand for luxury and fuel-efficient vehicles will drive
segment’s growth over the forecast period.
Regional Insights:
Regional
segmentation includes Europe, North America, Asia Pacific, and Rest of World
(RoW). Asia Pacific is expected to witness highest CAGR over the forecast
period owing to growth of industrialization and urbanization in developing
economies including India and China. China is expected to be the leading
producer of steel, chemical, iron, food, and transportation equipment. Thereby,
increasing number of manufacturing facilities is driving demand for metrology
services in the country. In addition, growth of aerospace and defense industry
is expected to impel demand for technologically advanced measuring techniques.
Aircraft manufacturers are focusing more on interiors to reflect luxury and
lifestyle as never before. Rising focus on safety of passengers through
high-precision measurement of aircraft components will drive regional market
growth.
Some
of the key players in metrology services market are Renishaw PLC, Hexagon AB,
Nikon Metrology NV, Carl Zeiss Corporation; and Trescal SA. Companies are
following business strategies such as new product launch and target marketing
to expand their product portfolio. In addition, companies are also looking for
mergers and acquisitions to gain competitive edge. For instance, Zeiss
Industrial Quality Solutions has recently acquired GOM. The merger is aimed to
expand applications and capabilities of optical digitization systems. It will
strengthen the leading technological position of Zeiss in the market. In
addition, combination of existing solutions and products along with joint
innovations will create new business opportunities for the company in coming
years.
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