DUBLIN--(BUSINESS WIRE)--The "Surface Roughness Measurement Market by Component (Probes, Software Cameras, Lighting Equipment), Surface Type (2D and 3D), Technique Type (Contact and noncontact), Vertical (Automotive, Energy & Power) and Geography - Global forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The surface roughness measurement (SRM) market is expected to grow from USD 766 million in 2019 to USD 998 million by 2025, at a CAGR of 4.5% during the forecast period.
The growth of the SRM market can be attributed to the growing requirement for improving product quality and manufacturing processes and increasing expenditure on research and & development activities. However, the dearth of skilled workforce and inclination toward conventional measuring solutions are the major restraints for the growth of the SRM market.
Rising adoption of non-contact measurement techniques is the key growth opportunities for the growth of the SRM market. Major challenges faced by the SRM market is the integration of operations due to the implementation of IoT.
The surface roughness measurement market by component for the software to grow at a higher CAGR during the forecast period
Surface roughness measurement equipment is increasingly gaining popularity due to lower hardware costs and the availability of faster processors, but it requires a complete, scalable software that provides all elements necessary for deploying and developing the images of surface profiles and makes the quality assurance possible.
These factors made the software the second-largest segment (with a share of ~19%) of the SRM market, based on component, in 2018. The SRM market for software was valued at USD 135 million in 2018 and is projected to reach USD 220 million by 2025; it is expected to grow at the highest CAGR of 7.1% from 2019 to 2025.
The automotive vertical is expected to hold the largest share of the market in 2018
The automotive vertical held the largest share ~31% of the surface roughness measurement (SRM) market in 2018. The SRM market for the automotive vertical was valued at USD 232 million in 2018 and is projected to reach USD 305 million by 2025; it is expected to grow at a CAGR of 3.9% from 2019 to 2025. Growing demand for vehicles, especially from developing countries, has encouraged automotive manufacturers and OEMs to opt for automation to increase production volume and meet the market demand.
Surface roughness measurement machines (SRMMs) are required in the automotive industry for inspection, measurement, and quality checking applications of various components. The automotive industry has been increasingly using optical measurement systems and SRMMs instead of conventional strain gauges, accelerometers, transducers, and extensometers for improving the safety and modifying vehicle design.
North America to dominate the surface roughness measurement market in 2018
North America is expected to dominate the surface roughness measurement (SRM) market, in terms of size, during the forecast period. Increased funding toward research and development activities and extensive industrial base are the major factors that make North America a dynamic region in the SRM market, with the US being the major contributor. APAC is expected to hold the second-largest share ~30%, in terms of value, in 2018.
According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in 2017, ~44 million passenger cars were manufactured in APAC, a growth of 2.5% than that of in 2016. The high rate of technological developments in the automotive and aerospace & defense industries is the key factor driving the growth of the market in APAC. The high rate of adoption of surface roughness measurement machines (SRMMs) for quality control and inspection applications in the automotive and aerospace & defense industries in the US; is the key factor that has helped North America in holding the leading position in the SRM market
- Growing Requirement for Improving Product Quality and Manufacturing Processes
- Increasing Expenditure on Research and Development Activities
- Dearth of Skilled Workforce and Inclination Toward Conventional Measuring Solutions
- Rising Adoption of Non-contact Measurement Techniques
- Integration of Operations Due to Implementation of IoT
- Rapid Development of Technologically Advanced Sensors
- Increased Use of Scanning Techniques for Inspecting Machine Components
- Technological Advances in Surface Characterization
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Surface Roughness Measurement Market, By Component
7 Surface Roughness Measurement Market, By Surface Type
8 Surface Roughness Measurement Market, By Technique
9 Surface Roughness Measurement Market, By Vertical
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
- Alicona Imaging GmbH
- Carl Zeiss
- Faro Technologies
- Hexagon AB
- Horiba Ltd.
- JENOPTIK AG
- KEYENCE Corporation
- Kosaka Laboratory Ltd.
- KRSS GmbH
- Mitutoyo Corporation
- Optimax Imaging Inspection & Measurement Ltd.
- Taylor Hobson
- The Sempre Group
- Tokyo Seimitsu Co. Ltd.
- Zygo Corporation
For more information about this report visit https://www.researchandmarkets.com/r/4j5ulu