“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

New Visiongain report: Water Quality Sensor Market 2020 – 2030

Increasing need to assess the quality of water before supplying it to the distribution system has prompted water treatment facilities to install water quality sensors, which ultimately increases demand for water quality sensor goods.

07 November 2019

Read

“Video Analytics Market is expected to grow during the forecast period”, says Visiongain

n addition, increased demand for IP-based security systems and services, and growing concerns regarding life safety and security as well as resources, are projected to boost the development of the market for video analytics during the forecast period.

01 November 2019

Read

“The market size of the international variable frequency drive is expected to advance in the forecast period at a CAGR of 8.2 percent”, says Visiongain

In 2016, global energy intensity, calculated as the primary energy demand needed to produce one unit of GDP, dropped by about 1.8%.

01 November 2019

Read

“Global market size of telecom electronic manufacturing services (EMS) is expected to reach USD 400 billion by 2030”, says Visiongain

IoT is the next key trend and it is estimated that it will support the telecommunications industry in terms of revenue generation and infrastructure expansion, which is then estimated to drive the market over the forecast years.

01 November 2019

Read

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