Coordinate Measuring Machine (CMM) Market Size, Share & Trends (2022 - 2027)
The coordinate measuring machine market revenue is projected to reach USD 4.3 billion by 2026, registering a CAGR of 8.8% during the forecast period 2022 - 2027 from USD 2.8 billion in 2021.
The coordinate measuring machine is used to measure the geometrical characteristics of an object. Geometrical characteristics like dimensional, optical, electromagnetic, mechanical, optical radiation, thermodynamic, and other parameters are measured using this device. These measurements play a significant role in manufacturing quality products. This device is generally used in the product development cycle, and the accurate results may enhance the quality of the end products.
These machines can be operated through computers. These days, industries require highly accurate measurements that can easily be obtained through the machines operated with computers.
Coordinate Measuring Machine (CMM) Market Trends:
Rising investments in developing metrology products are escalating the demand of the coordinate measuring machine market.
Drivers and Restraints of Market:
The rise in the investments in the development of new technologies with the latest technologies is greatly influencing the demand of the market. Increasing significance for the use of 3D modeling techniques is leveling up the growth rate of the coordinate measuring machine (CMM) market. The launch of a large number of complex machinery associated with rising demand for precision instruments is likely to fuel the demand of the market. Key industries like automotive, medical, and electronics are greatly using 3D modeling that is enhancing the growth rate of the coordinate measuring machine market. The devices that are designed with the help of 3D modeling can collect data points via scanners or CMMs. This data collection helps in manufacturing the products with high accuracy. This factor is attributed to bolster the growth rate of the market. The rapid adoption of advanced technology and growing awareness over the use of the machine is promoting the demand of this market to the extent. Growing prevalence from the end-user industries like aerospace and electronics are fueling the demand of the market. An increasing number of electric vehicles are boosting the prominence of the use of modeling machines. This attribute is anticipated to leverage the demand of the market.
However, high investment costs and fluctuations in the availability of the raw materials are slowly degrading the demand of the coordinate measuring machine market. Lack of complete knowledge over the availability of various devices in undeveloped countries is slowly degrading the market's growth rate. In addition, the availability of various similar devices where end users find difficulty in choosing the devices is hampering the market's growth rate. There is also growing demand for the operational data store that is also to slow down the demand of the coordinate measuring machine market.
Coordinate Measuring Machine (CMM) Market Segmentation:
The portable CMM segment is ruling with the dominant shares of the CMM market. The increasing prevalence of the flexibility machinery and growing demand for high accuracy products are majorly lavishing the growth rate of this segment. The fixed CMM segment is deemed to grow at a higher rate during the period 2022 - 2027.
The aerospace segment is with the largest shares, whereas the medical segment is positioned next in leading the significant shares of the CMM market. Growing scale of various companies in emerging countries like the US, Canada, India, and others is outraging the demand of the market. The heavy machinery segment is expected to showcase the highest CAGR in the coming years. The automotive segment has been growing steadily from the past few years and is also to have the same growth rate in the coming years. Energy & power and electronics segments are deemed to have the highest growth opportunities during the forecast period 2022 - 2027.
Market Region-wise analysis:
North America is the one leading with the dominant shares of the coordinate measuring machine market (CMM). Increasing expenditure and rising disposable income in urban areas are major factors driving the market's growth rate in this region. An increasing number of partnerships and acquisitions between the top companies is also a factor that surges the market's growth rate in North America. Growing demand from the end-users for high-quality products is gearing up the demand of the market. Following North America, Asia Pacific holds the dominant share of the market. The increasing scale of a number of industries like automobiles, electronics, and others is one of the factors anticipated to fuel the demand of the market. Also, the growing trend towards innovative machinery is propelling the demand of the Asia Pacific coordinate measuring machine market. Increasing population and rising disposable income are eventually gearing up the demand of the coordinate measuring machine market.
Latin America is witnessed in having the steady growth rate from past few years and is esteemed to continue the same rate during the forecast period. An increasing number of companies and their investments in 3D modeling solutions are creating growth opportunities for the market. Middle East & Africa is to have slow growth opportunities.
Key Players of Coordinate Measuring Machine (CMM) Market:
Some of the key players included in the solid-state radar market are:
The impact of COVID-19 on the Coordinate Measuring Machine (CMM) Market:-
COVID 19 had a negative impact on the shares of the market, especially in 2020. Lockdown restrictions and bans on the flights disrupted the supply chain that restricted the revenue of every market. Key players are planning different strategies to bring profits amid the novel coronavirus. As a result, it is expected that the coordinate measuring machine market revenue will grow at a higher rate in the coming years.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Coordinate Measuring Machine (CMM) Market, By Type
6.1.1 Portable CMM
6.1.2 Fixed CMM
6.1.3 Market Size Estimations & Forecasts (2022 - 2027)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Coordinate Measuring Machine (CMM) Market, By Industry
6.2.3 Heavy Machinery
6.2.4 Energy & Power
6.2.7 Market Size Estimations & Forecasts (2022 - 2027)
6.2.8 Y-o-Y Growth Rate Analysis
6.2.9 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2022 - 2027)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Industry
7.3.1 By Country
22.214.171.124 Rest of Europe
7.3.2 By Type
7.3.3 By Industry
7.4 Asia Pacific
7.4.1 By Country
126.96.36.199 South Korea
188.8.131.52 South East Asia
184.108.40.206 Australia & NZ
220.127.116.11 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Industry
7.5 Latin America
7.5.1 By Country
18.104.22.168 Rest of Latin America
7.5.2 By Type
7.5.3 By Industry
7.6 Middle East and Africa
7.6.1 By Country
22.214.171.124 Middle East
7.6.2 By Type
7.6.3 By Industry
8. Key Player Analysis
8.1 Zeiss Group (Germany)
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 FARO Technologies (US)
8.3 Hexagon (Sweden)
8.4 Nikon Corporation (Japan)
8.5 Mitutoyo (Japan)
8.6 Tokyo Seimitsu (Japan)
8.7 Keyence Corporation (Japan)
8.8 Creaform (Canada)
8.9 Perceptron (US)
8.10 Wenzel Group (Germany)
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
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