LONDON--(BUSINESS WIRE)--The global metrology services market is expected to post a CAGR of about 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The increasing use of CAD by manufacturers will be one of the major drivers in the global metrology services market. Currently, even the non-critical parts of automotive, aerospace, and defense are witnessing the usage of CAD software. This is because CAD not only automates the design process but also offers an opportunity to introduce minor or major design changes in the CAD model of the current component. The growing adoption of CAD by manufacturers is increasing demand for metrology services as the comparison of a tool or component produced can be made quickly with a CAD model using a CMM, tracker, scanner, or visual device. Thus, the efficiency of the inspection process improves significantly.
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As per Technavio, the emerging applications of metrology services in additive manufacturing, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Metrology Services Market: Emerging Applications of Metrology Services in Additive Manufacturing
The emerging applications of metrology services in additive manufacturing will be one of the critical trends in the global market. Construction and forensics are emerging as new application areas with having significant influence of metrology services. Moreover, market institutions such as the National Institute of Standards and Technology (NIST) are helping manufacturers develop industrial capabilities for additive manufacturing. This is also leading to metrology service providers developing methods to monitor processes in additive manufacturing. This helps manufacturers to determine the effectiveness of the components and parts. For instance, ZEISS introduced a new holistic and integrated 3D-manufacturing inspection solution for improved yield in additive manufacturing. With enhancements in additive manufacturing processes to produce parts that have low tolerances, metrology service providers are also expected to increase their offerings for such manufacturers, thereby driving growth for the overall global market.
“The increasing adherence to global quality standards and the inability of traditional measurement products to analyze complex geometrics are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Metrology Services Market: Segmentation Analysis
This market research report segments the global metrology services market by application (heavy equipment, automotive, aerospace and defense, and others) and geographical regions (North America, Europe, APAC, South America, and MEA).
The APAC region will witness the highest incremental growth during the forecast period 2019-2023. This is due to the rapidly growing investments in the power generation and automobile sectors in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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