Knowledge Sourcing Intelligence has launched the publication of a new report on "Industrial Metrology Market - Forecasts from 2019 to 2026" to their giving.
The prime factor driving the industrial metrology market is the complexity of machines and the demand for accurate measuring tools with fast and greater productivity for better efficiency and quality.
As per the report, the Industrial Metrology Market is projected to grow at a CAGR of 5.20% to reach US$15.117 billion by 2026, from US$10.600 billion in 2019.
Industrial Metrology is the science of measurement which has been included in the manufacturing process for greater production. These machines are complex and give accurate measures for better operations. These machines give measurements faster and of higher quality. To certify the conformity of a product, many companies implement Industrial metrology. The products are manufactured on the large scale and become cheaper passing the benefits to customers. The rise in the construction industry also plays a vital role in the growth of the industrial metrology market. The growing infrastructure projects in the Asia Pacific, Middle East, and North America will increase the demand for the industrial metrology market during the forecast period.
Technological innovations in Industrial Metrology Market are expected to grow the market at a fast pace. One innovation in the manufacturing of 3D products with the help of industrial metrology machines. These products are gaining popularity across a large area of industrial verticals. Technological innovations across the products such as an optical digitizer, scanner, coordinate measuring machine, video measuring machine, X-ray and computed tomography, automated optical inspection, 2d products, etc, and increasing their user-friendliness will help the growth of the industrial metrology market in the forecast period.
Based on the industrial vertical, the Industrial Metrology market is fragmented as automotive, aerospace and defenses, healthcare, construction, energy and power, consumer electronics, and many more. Aerospace and defense, and automotive are projected to hold a significant share in the market growth in the forecast period. The investment in the aerospace and defense industry both by government institutes and the private sector is rising, this will drive the growth in the industrial metrology market. Furthermore, the rise in the global average disposable income has increased the demand for automotive and consumer electronics which has resulted in the innovation and increase in production, thus, surging application of industrial metrology equipment.
By offering provided by industrial metrology, it is fragmented into software, hardware, and other services.
By product, Industrial Metrology is fragmented into Coordinate measuring machine, optical digitalize scanning, video measuring, X-Ray, and computed tomography, Automated optical inspection, 2D products, and others.
By geography, the industrial metrology market in the Asia Pacific, Middle East, and Africa, Europe, South America, North America. Whereas in terms of share, North America is estimated to hold a significant market share in the forecast period. Whereas the Middle East and Africa and the Asia Pacific are also expected to show very fast growth.
As a part of the report, the major players operating in the industrial metrology market, that have been covered are Hexagon AB, Renishaw plc, Nikon Corporation, FARO, Applied Materials Inc., Jenoptik AG, Zeiss Global (acquired GOM), Ametek.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/industrial-metrology-market
This analytics report segments the industrial metrology market on the following basis
Optical Digitalizer and Scanner
Coordinate Measuring Machine
Video Measuring Machine
X-Ray and Computed Tomography
Automated Optical Inspection
By Industry Vertical
Aerospace and Defense
Energy and Power
Middle East and Africa