Pune, India, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The global coordinate measuring machine (CMM) market is likely to benefit from growing product applications across diverse industries. According to a report by Fortune Business Insights, titled “Coordinate Measuring Machines Market Size, Share and Global Trend By Type (Fixed, Bridge, Cantilever, Gantry, Portable, Articulated Arm, Handheld), By Industry (Electronics, Automotive & Aerospace, Energy & Power, Heavy Machinery, Medical, Others), By Application (Quality Control & Inspection, Reverse Engineering, Virtual Simulation), and Geography Forecast till 2026,” the market will derive growth from recent product advancements that have yielded precise CMM in recent years.
Key Industry Developments
August 2018: Hexagon AB acquires External-Array Software, a software development company that provides metrology software for manufacturers of coordinate measuring machines (CMM).
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Drivers & Restraints -
An increasing Number of Company Collaborations Will Offer Extensive Growth Opportunities
The increasing number of company collaborations will boost the market in the coming years. Growing mergers and acquisitions, agreements, and takeovers have opened the doors for elevated growth for the companies involved in such activities. Fortune Business Insights has predicted that mergers and acquisitions have constituted an increase in the global coordinate measuring machine market value in recent years. In 2018, Hexagon AB announced the acquisition of External Array Software, with the aim of developing high functionality based metrology software. The company aims to establish a strong market brand on the global scale. Fortune Business Insights has predicted that Hexagon’s latest acquisition will help the company generate a substantial coordinate measuring machine market revenue in the forthcoming years.
COVID-19 Impact -
COVID-19 had a Potential Impact On Market
The economic impact of the COVID-19 pandemic had the potential to shock global Coordinate Measuring Machine (CMM) Market. On the other hand, markets demonstrated remarkable resilience, first reacting rationally to lower demand by lowering prices and then returning to near-normal functioning. While the increase in emissions is concerning, many of the world's largest carbon-emitting countries have recently announced long-term environmental policies to assist their economies in recovering from the COVID-19 pandemic and eventually achieving net-zero carbon emissions.
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Segmentation -
On the basis of type, the market is divided into forestry, renewable energy, landfill methane projects, and others. On the basis of application, the market is segmented into industrial, household devices, energy industry, agriculture, and others. On the basis of end-use, the market is fragmented into government, non-government, private sector, and others. Geographically, the market is classified into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Coordinate Measuring Machine (CMM) Market Report Segmentation -
By Type
- Fixed
- Bridge
- Cantilever
- Gantry
- Portable
- Articulated Arm
By Industry
- Electronics
- Automotive & Aerospace
- Energy & Power
- Heavy Machinery
- Medical
- Others
By Application
- Quality Control & Inspection
- Reverse Engineering
- Virtual Simulation
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Regional Insights -
Uses of CMM in Trading Activities Will Favor Growth of the Market in the Asia Pacific
The developments in advanced manufacturing technologies in several countries across the Asia Pacific have led to product advancements. Recent product advancements will fuel the demand for coordinate measuring machines in this region. The report highlights a few of the major product launches of recent times and gauges the impact of these products on the global market. The increasing uses of CMM in export-oriented industrializing countries such as India and China will lead to the growth of the CMM market in the Asia Pacific. Fortune Business Insights has predicted that the CMM market in the Asia Pacific will generate a substantial amount of CMM market revenue in the coming years.
List of Key Players in the Global Market -
- HEXAGON
- FARO Technologies Inc.
- Nikon Corporation
- Keyence Corporation
- ZEISS International
- Mitutoyo America Corporation
- CREAFORM
- Applied Automation Technologies Inc.
- Avon-Dynamic
- Eley Metrology.
Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Key Industry Developments - Merger, Acquisitions, and Partnerships
4.2 Distribution Analysis
4.3 Porter’s Five Forces Analysis
4.4 PEST Analysis
4.5 Technological Developments
4.6 Impact of COVID-19
Continued…
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