Industrial Metrology Market worth $20.6 billion by 2029 - Exclusive Report by MarketsandMarkets™

CHICAGO, Feb. 19, 2024 /PRNewswire/ -- The global industrial metrology market was valued at USD 14.9 billion in 2024 and is projected to reach USD 20.6 billion by 2029, registering a CAGR of 6.7% during the forecast period according to a new report by MarketsandMarkets™. The industrial metrology market is primarily driven by the increasing demand for quality and inspection equipment in the precision manufacturing industry. There is a growing focus on manufacturing superior- and uniform-quality products, which necessitates the use of advanced metrology solutions for precise measurement and inspection. Additionally, the surging demand for big data analytics is contributing to the growth of the industrial metrology market as manufacturers seek to leverage data-driven insights for process optimization and quality control.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=190782079

Browse in-depth TOC on "Industrial Metrology Market" 
145 – Tables
58 – Figures
309 – Pages

Industrial Metrology Market Report Scope:

By Application: Quality Control & Inspection is projected to grow at the highest CAGR during the forecast period.

The industrial metrology market, particularly the surge in demand for 3D metrology equipment, is a significant driver of growth, notably within manufacturing industries where it is increasingly utilized for quality control and inspection purposes. The rising competition and imperative to enhance safety have driven widespread adoption of quality control and inspection systems across diverse industries, including automotive, aerospace and defense, and semiconductors. Moreover, the adoption of advanced inspection tools and technologies, such as automated quality inspection systems, is expected to improve the accuracy, efficiency, and overall reliability of quality control efforts, thereby further contributing to the expansion of quality control and inspection applications.

By Offering: Services offered account for the highest CAGR during the forecast period.

Service-based offerings are projected to experience growth in the industrial metrology market driven by various factors. The increasing need for regular system upgrades is propelling the expansion of after-sales services, ensuring the continual optimization of metrology systems. Additionally, there is a growing demand for part sourcing and outsourcing aimed at reducing overall production costs. This trend is fostering the growth of measurement services, which provide cost-effective solutions for precise measurement and inspection tasks, thereby improving operational efficiency and competitiveness within the market.

By End-user industry: The automotive industry is projected to register the highest CAGR during the forecast period.

The increasing demand for electric vehicles and the imperative for highly dependable and quality processes are additional factors propelling the growth of the industrial metrology market within the automotive industry. Automotive manufacturers are progressively embracing 3D solutions and optical inspection techniques, offering significant advantages to the sector. These technologies enable production teams to utilize 3D scanning solutions at various stages of the design process, encompassing product development, design refinement, reverse engineering, as well as quality control and assurance efforts.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=190782079

By Region: North America to hold a larger market share in 2023.

North America stands out as the swiftest expanding sector in the industrial metrology industry. The region's dominance is fueled by the growing demand for automation and extensive utilization of industrial metrology across critical sectors like automotive, aerospace, defense, and manufacturing. Moreover, North America's leadership position is reinforced by the presence of major market players such as FARO, KLA Corporation, and Baker Hughes Company.

The major players in the industrial metrology companies include Hexagon AB (Sweden), Nikon Corporation (Japan), FARO (US), Carl Zeiss AG (Germany), JENOPTIK (Germany), KLA Corporation (US), Renishaw plc (UK), Mitutoyo Corporation (Japan), KEYENCE CORPORATION (Japan), CREAFORM (Canada).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=190782079

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

3D Metrology Market with Recession Impact by Product Type (CMM, ODS, VMM, 3D AOI, 3D X-ray &CT), Application (Quality Control & Inspection, Reverse Engineering, Virtual Simulation), Offering, End-user Industry and Region – Global Forecast to 2028

3D Scanners Market by Offering (Hardware, Software, Services), Type (3D Laser Scanners, Structured Light Scanners), Technology (Laser Triangulation, Pattern Fringe, Laser Pulse, Laser Phase-shift), Range, Industry and Region - Global Forecast to 2028

Semiconductor Manufacturing Equipment Market by Front-end Equipment, Back-end Equipment, Fab Facility Equipment (Automation, Chemical Control, Gas Control), Product Type, Dimension, Supply Chain Participant and Region - Global Forecast to 2028

3D Printing Market Size, Share & Industry Growth Analysis Report by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, Technology and Region - Global Growth Driver and Industry Forecast to 2028

3D and 4D Technology Market with COVID-19 Impact Analysis by Solution Type (3D Output Devices, 3D and 4D Input Devices), End-use Application (3D and 4D Gaming), Vertical (Entertainment, Consumer Electronics), Geography - Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/industrial-metrology-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/industrial-metrology.asp

Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg

SOURCE MarketsandMarkets