Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Metrology Service Market (By Product: Coordinate Measuring Machine (CMM) [Gantry Machine, Bridge Machine, Articulated Arm Machine, Horizontal Arm Machine], Optical Digitizer and Scanner (ODS) [3D Laser Scanner, White Light Scanner, Laser Tracker]; By Applications: Automotive, Aerospace, Industrial, Power Generation, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”
LOS ANGELES, Feb. 13, 2019 (GLOBE NEWSWIRE) -- The global metrology services market size is anticipated to around USD 1.2 billion by 2026, this market is anticipated to grow with 8.0% CAGR during the forecast time period. Metrology service market is gaining prominence due to expanded need of the product in various verticals such as automotive, industrial, and power generation among opposite end-use segments.
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Quick advancement of new metrology programming packages has been a central point driving business sector development. Expanded adherence to global quality measures over the end-use enterprises has prompted the high usage of metrology administrations. There is a raising need for metrology administrations for modern and power generation application.
Market for Coordinate Measuring Machine (CMM) is relied upon to witness a significant CAGR of 8.5% by 2026. Optical Digitizer and Scanner (ODS) based metrology items represented greatest income generation in 2018. Europe was noticeable market for metrology benefits and produced income worth USD 189.3 million out of 2016. Metrology administrations advertise for mechanical application was esteemed at USD 145.7 million of every 2016 and is relied upon to keep extending at a consistent CAGR over the coming years.
Growing demand for exact estimation of parts and segments from automotive, electronics, and power generation industries is relied upon to goad market over the coming year. High essentialness in various different applications, for example, mining and overwhelming modern creation, producing, manufacture, refineries, to material investigation has prompted development of metrology administrations showcase. Additionally, other modern applications, for example, break and disappointment examination, grain estimating, cast press modulatory and drop investigation, and surface investigation are foreseen to drive showcase development over the coming years.
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The global metrology service market is segmented into product, application and region. On the basis of product, the global metrology service market is segmented into Coordinate Measuring Machine (CMM) and Optical Digitizer and Scanner (ODS). The Coordinate Measuring Machine (CMM) is segmented into Gantry Machine, Bridge Machine, Articulated Arm Machine and Horizontal Arm Machine. Optical Digitizer and Scanner (ODS) is further segmented into 3D Laser Scanner, White Light Scanner, and Laser Tracker. On the basis of application, the global metrology service market is segmented into automotive, aerospace, industrial, power generation, and others. On the basis of region the global Metrology service market is bifurcated into Europe, Latin America, North America, Middle East & Africa, and Asia Pacific.
Asia Pacific is expected to witness quickest developing region over the forthcoming years. Industrial and power generation segment is projected to drive the market for metrology benefits in Asia Pacific. 3D scanner-based metrology administrations utilized in various power age applications are foreseen to drive local development. Dimensional metrology applications in power age industry can additionally goad territorial development over the forecast period. Europe captures the largest market share worth around USD 190.3 million in 2018. This development can be credited to presence of automotive producers. Metrology service are for the most part utilized in car ventures for investigation in a pilot plant for vehicle get together to maintain a strategic distance from quality issues at the season of new vehicle generation. Also, 3D laser scanner innovation is utilized for virtual gathering of car parts for physical assessment models and disposes of the requirement for exorbitant particular check tooling.
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Metrology services are utilized in main shaft, tops-off alignment, turbines, horizontal machine bearing, casting, scroll case geometry and assembly, and other power generation applications. They utilize most recent laser innovation and convenient arrange estimation arms, and extensive volume scanners in such application may increase demand in coming years.
Market is gaining prominence due to expanded need crosswise over automotive, industrial, and power generation among opposite end-use segments. This ascent popular can be ascribed to developing adherence to worldwide quality norms for better administrations. Ascend in universal quality standard for accuracy the executives over the whole business area has energized interest for metrology hardware and administrations. This appropriation is foreseen to multiply over the forecast period.
The key players catering to the global Metrology service market are Danish Micro Engineering A/S; Renishaw PLC., Hexagon AB; Nikon Inc.; Carl Zeiss Corporation; and FARO Technologies Inc. Significant strategic initiatives undertaken by global businesses include partnerships, new product launch, and acquisitions.
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