DUBLIN--(BUSINESS WIRE)--The "Metrology Software Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The metrology software market is expected to register a CAGR of 5.93% during the forecast period (2019 - 2024). Metrology solutions are witnessing an evident change from being a tool that only collects data to the one that is capable of data analysis and processing also.
- The increasing interest of enterprises in smart factories put greater importance in processing speed and data accuracy, also, emerging applications in additive manufacturing and reverse engineering are expected to be more prominent which will drive the market. Moreover, there's an ongoing shift toward inline metrology or process-integrated measuring instruments.
- The key advantage of metrology software is that the measurements are conducted in the production process itself rather than in measuring rooms, boosting the demand for metrology in modern plants and production lines.
- IIoT technological advancements are quickly making Industry 4.0 a certainty, and the resulting paradigm shift is anticipated to have a great impact on almost every phase of the manufacturing sector, from machine tools to metrology.
- In the coming future, smart measurement systems are expected to transform the production process completely. By the automated measurements done by the metrology systems, manufacturing processes will be able to auto-correct any defects, even without human intervention.
Key Market Trends
Electronic Manufacturing Sector to Witness Significant Growth
- The major factors driving the demand for metrology software market are the emerging solutions in electronic manufacturing aided with the continuous development of advanced nanotechnology, smart materials, flexible electronics, and green manufacturing.
- Metrology software solutions are expected to grow into an indispensable part of electronic manufacturing and quality inspection activities. In the rapidly-growing electronic manufacturing industry, end users are aiming to design and manufacture new product designs and development.
- The electronic industry is growing year on year owing to the technological advancements and product innovation which is driving the metrology software market as the manufacturing processes are becoming more and more complex.
Asia-Pacific Occupies the Largest Market Share
- The Asia-Pacific region constitutes the largest market in the world. This is because of the presence of renowned automotive giants and aerospace establishments in the region and their increasing interest in high accuracy metrology solutions across the region.
- Moreover, Singapore, Malaysia, and India have also experienced significant growth over the past few years, both in terms of adding new aerospace manufacturing facilities and attracting global participants to set up shops across the region.
- China is a global manufacturing hub and as the precision and complexity in manufacturing processes increases the metrology software market will see a boost in this area as China currently has many manufacturing facilities of national as well as international giants.
Competitive Landscape
The metrology software market is competitive with the presence of many players in the market. The market is moderately concentrated with the major players applying strategies like product innovation and mergers and acquisition.
- February 2018 - Hexagon Manufacturing Intelligence had launched PC-DMIS 2018 R1, the latest edition of its measurement software. This was the first of two major releases scheduled for PC-DMIS in 2018, with continued service pack updates to ensure maximum reliability of the platform.
- August 2018 - Oechsler, a traditional company that continuously works on improving its process chains, adopted ATOS Triple Scan. The plastics specialist has been able to accelerate its production of injection molding tools significantly, because of the scanning software.
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increased Drive Towards Automation of Processes in Manufacturing Industry
4.3.2 Demand for High Quality Products from Consumers
4.4 Market Restraints
4.4.1 Lack of Awareness to Challenge the Market Growth
4.5 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By End-user Vertical
5.1.1 Automotive
5.1.2 Aerospace
5.1.3 Electronic Manufacturing
5.1.4 Other End-user Verticals
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Latin America
5.2.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Nikon Metrology N.V.
6.1.2 3D Systems, Inc.
6.1.3 Ametek Creaform Inc.
6.1.4 Faro Technologies
6.1.5 ZEISS International
6.1.6 Hexagon AB
6.1.7 Shining 3D Tech Co. Ltd.
6.1.8 Mitutoyo Corporation
6.1.9 Renishaw plc.
6.1.10 Perceptron, Inc.
6.1.11 Innovmetric, Inc.
6.1.12 Fluke Corporation
6.1.13 Metrologic Group
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/br4dea
