Industrial Metrology Market

Industrial Metrology Market Size, Share, Growth (2023-2028)

Industrial Metrology Market is anticipated to grow USD 16.61 Billion by 2028 from USD 10.77 Billion in 2023, garnering a CAGR of 6.0%.

Industrial Metrology Market Overview

Industrial metrology is the process that uses 'the science of measurement' in a theoretical way and practical way, for the manufacturing processes, at the same time by ensuring the quality & accuracy of the manufactured parts & components.The major factors that are influencing the growth of the global industrial metrology market are the rising demand for this process among the applications of the industrial and power generation. And the increasing demand for finished goods along with technological developments is expected to push the adoption of this process, resulting in the growth of the target market worldwide.

Recent Developments

• Hexagon Energy Materials Ltd., one of the developers of the Metrology processes, is going to open the Prague Laser Tracker ISO Certification Center in the Czech Republic.

• Jenoptik, a German integrated photonics group that is also one of the key players of the Global Industrial Metrology Market, has announced to continue their strategic partnership with InfraTec, in the field of non-contact temperature measurement.

Industrial Metrology Market Drivers and Restraints 

Growing demand for assessment facilities among the precision manufacturing industries is the major driver for the growth of the Global Industrial Metrology Market. Also, the increase in the concentration of various industries towards quality control is fuelling the growth of the target market during the forecast period. And the tremendous acceptance of cloud services in various sectors to assimilate the metrological data is boosting the adoption of this technology, which is turning into a prominent growth aspect for the global industrial metrology market.However, the lack of skilled expertise for handling the industrial metrology is the major restraint that was challenging the growth of the Global Industrial Metrology Market. Additionally, growing initial set-up costs for the metrology facilities is another factor that was hampering the growth of the target market during the forecast period.Furthermore, the presence of the drawbacks in the traditional measurement devices in accordance of finding out the various manufacturing related issues creating promising opportunities for the leading players in the global market.

Industrial Metrology Market Segmentation

Based on the type 

• Hardware

• Software

• Services

• Solutions

On the equipment outlook of industrial metrology, the global Industrial Metrology market is segmented into Coordinate Measuring Machine, Optical Digitizer & Scanner, Measuring Instrument, X-Ray and Computed Tomography, Automated Optical Inspection, and 2D Equipment. Of these, the Coordinate Measuring Machine segment is sub-segmented into Gantry Machines, Bridge Machines, Articulated Arm Machines, and Horizontal Arm Machines. And the Optical Digitizer & Scanner segment is sub-segmented into 3D Laser Scanners, White Light Scanners, and Laser Trackers.

And on the end-user outlook, the global Industrial Metrology market is segmented into Aerospace & Defense, Automotive, Manufacturing, Semiconductor, and Others.

On the application segmentation, the global Industrial Metrology market is segmented as Reverse Engineering, Quality Control & Inspection, Mapping & Modelling, and Other Applications.

Industrial Metrology Market Region-wise analysis

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

In the regional analysis of the Global Industrial Metrology Market, Asia-Pacific held the major share of the global market, in the revenue aspect, and it is also the fastest-growing regional market. The growth of the Industrial Metrology Market in the Asia-Pacific area is attributed to the extravagant growth of aerospace & defense industries in this region. The growing applications of the industrial and power generation are an influential factor for the metrology services market in this region. The increase of these metrology services owes to their usage in various power generations, which include horizontal machine bearing, casting, main shaft, turbines, tops-off alignment, scroll case geometry and assembly, and other.

The regional industrial in North America held the second largest regional market, globally. And Europe's regional market is another business that is witnessing considerable growth over the forecast period. Europe is the home for a large number of automotive developers & manufacturers. Therefore, the presence of the major automotive manufacturers is the significant driver for the growth of the target market in this region, because of these metrology services getting majorly used in these automotive industries for the inspection of a pilot plant for vehicle assembly for avoiding the quality issues in the process of the production of new vehicles. Moreover, growing 3D laser scanner technology is another key factor for the growth of the target market in Europe, owing to the usage for virtual assembling of the automotive components for prototypes of physical evaluation & eliminating the need for expensive specialized tooling verification.

Industrial Metrology Market Key Players

1. Hexagon (Sweden)

2. FARO Technologies (US)

3. Nikon Metrology (Belgium)

4. Carl Zeiss (Germany)

5. Jenoptik (Germany)

6. Creaform (Canada)

7. Renishaw (UK)

8. KLA-Tencor (US)

9. Applied Materials, Inc. (US)

10. Perceptron (US)

11. Gesellschaft für Optische Messtechnik (GOM) (Germany)

12. Automated Precision Inc. (API) (US)