“Metrology market is expected to demonstrate favorable growth over the forecast period” says Visiongain report

18 July 2019
Electronics

Visiongain has launched a new semiconductors report Metrology Market Report 2019-2029: Forecasts by Product Type (Coordinate Measuring Machines, Optical Digitizers and Scanners), by Application (Automotive, Aerospace, Industrial, Power Generation) PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis.

The global metrology market is expected to demonstrate favorable growth through the forecast period. The market is driven by increasing demand for precise parts and components from various industries such as electronics, power generation, and automotive industry, technological advancements in metrology software packages, and increasing need for adherence to international quality standards. Developments in the measuring technology and new product development by key players are positively impacting the growth pattern of the metrology market. However, high cost of equipments and lack of skilled machine operators pose as an impediment for the metrology market growth.

Metrology helps manufacturers to optimize productivity and increase efficiency with minimal impact on the resource requirement. Multiple metrology products can be used as integrated systems or independently, to perform tasks such as 3D measurement, reverse engineering, product quality optimization, quality control or inspection, reducing waste/scrap generation, and minimizing the need of reworks during the manufacturing process. However, the high cost of the precision equipments creates an unfavorable situation for the companies, which makes keeping the inventory at par with technological advancements financially challenging. The automotive industry in Asia Pacific is rapidly booming, making the region a major revenue contributor of the metrology market. Additionally, the use of processes based on Computer Aided Design and Computer Aided Manufacturing (CAD/CAM) in the manufacturing cycle is getting prominence for various advantages including shorter production cycle, overall operational efficiency, minimal defects, and cost reduction.

Some of the key companies and service providers operating in the metrology market include Hexagon AB, Atos SE, Renishaw PLC, Automation Anywhere Inc., Faro Technologies, Carl Zeiss Ag, Infosys Ltd., Cognizant Technology Solutions Corporation, IPsoft, Inc., Kofax Ltd., Jacada, Inc., and Genpact Ltd. among others. Manufacturers are adopting various strategic initiatives such as incorporating internationally accepted quality standards such as Six Sigma, ISO-9001, QS-9000 to meet the requirements of global clients and enhancing regional reach through various mergers and acquisitions. Furthermore, target marketing and new product launches are some other strategies adopted by companies to gain a competitive advantage.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

“Traction Transformer market to offer promising growth opportunities through the forecast period says” Visiongain report

Advancements in railway infrastructure, growing demand for faster commuting means, and favorable governmental initiatives are expected to drive the traction transformer market through the forward period.

23 July 2019

Read

“Fiber Optics market to present promising growth opportunity over the forecast period” says Visiongain report

The key drivers of the market include growing awareness about this technology, rising demand for high bandwidth communication, and increasing investment in R&D so as to develop this technology application area.

23 July 2019

Read

“Emission Monitoring Systems market to offer promising growth opportunities through the forecast period” says Visiongain report

The authoritative bodies responsible for environmental protection have established several regulations to be followed by the industries to check pollutant emissions using Emission Monitoring System (EMS).

23 July 2019

Read

“Electronic Contract Manufacturing Services market to present promising growth prospects through the forecast period” says Visiongain report

Some of the factors responsible for the growth of the market include functional testing offered by contract manufacturers and increasing functionalities such as sub-assembly manufacturing, design and engineering of printed circuit boards, and component assembly.

23 July 2019

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever