Industrial Metrology Market: Introduction
- Applied industrial or technical metrology is a set of processes, techniques, and advanced equipment to measure manufacturing and other processes. The measurement is usually carried to understand the caliber and quality control in these processes. It is estimated that these processes usually save, on an average, about 15% of costs in manufacturing. Moreover, metrology is becoming increasingly important for nations worldwide, as trends like automation, increased drive for independence in national defense, and demand for traceability continues to increase. Generally, peer-reviewed, agreements, or accreditation sets these processes in place with standard benchmarks. Metrology has become an important standard in measuring the progress of a country’s industrial sector. Consequently, the demand for industrial metrology is estimated to increase during the forecast period.
Key Drivers and Opportunities of the Global Industrial Metrology Market
- Rising demand for industrial metrology solutions in inspection of foods, in the defense sector, and for undertaking major initiatives like smart cities is projected to drive the industrial metrology market. Increase in demand for aerospace solutions, rise in availability of quality metrology solutions, and surge in awareness about metrology are major drivers of the industrial metrology market.
- Rise in demand for metrology solutions in automotive sector and in general manufacturing is also expected to propel the market. The automotive sector is expected to witness a major evolution in the near future, as automobile manufacturing rapidly moves toward automated facilities. Demand for highly reliable and quality processes and an increase in the demand for electric vehicles are expected to boost the market. Moreover, demand for industrial metrology from the manufacturing sector, due to an increase in automation, is also expected to rise during the forecast period.
- Industrial metrology systems do not measure light or its wavelength, instead it relies on the random fluctuation of the refractive index. Earlier systems faced issues with light, as ambient dust particles could block their reading of fire. However, the new system overcomes this issue and propagates the evolution of fire detection system, wherein even fires without flames can be detected. The innovation is expected to create significant opportunities for manufacturers in the industrial metrology market.
North America and Europe to Hold Major Share of Global Industrial Metrology Market
- In terms of region, the Industrial Metrology market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- The market in North America is projected to expand considerably, as the region witnesses an increasing preference toward automation and widespread usage of industrial metrology
- The industrial metrology market in Europe is also expected to expand significantly during the forecast period. Increasing preference of the automotive sector toward automation and growing targets set due to the Climate Change Accord are expected to offer significant opportunities for the industrial metrology market in the region in the near future.
Key Players Operating in Global Industrial Metrology Market
- Applied Materials, Inc.
- Carl Zeiss AG
- FARO Technologies, Inc.
- GOM GmbH
- Hexagon Company
- KLA Corporation
- Mitutoyo Corporation
- Nikon Corporation
- Renishaw Plc
Global Industrial Metrology Market: Research Scope
Global Industrial Metrology Market, by Offering
Global Industrial Metrology Market, by End-use Industry
- Defense and Aerospace
- Others (Energy and Power, etc.)
Global Industrial Metrology Market, by Price
Global Industrial Metrology Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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