Large-scale Incorporation of CAD/CAM Drives Demand for Metrology Services

Metrology services have become more important than ever in today’s digital age, where engineering works not to the nearest millimeter, but the nearest nanometer or micrometer. Accurate measurement services have thus become crucial in the automotive, aerospace, electronics, and other manufacturing industries, resulting in promising growth prospects for the global metrology services market.

According to Transparency Market Research, the global metrology services market was valued at US$448.6 mn in 2012. Exhibiting a sturdy 8.20% CAGR between 2012 and 2018, the market is expected to rise to a valuation of US$720.3 mn.

What is the key driver for the global metrology services market?

The increasing incorporation of computer-assisted design (CAD) and computer-assisted manufacturing processes is a crucial driver for the global metrology services market. While CAD/CAM systems allow for extreme precision in industrial processes, they require a firm set of metrics to be able to provide the expected precision. The use of a top-notch metrology services ensures efficient use of the available resources and consequently optimization of the productivity. Despite the vital need for metrology services, developing in-house metrology services is an expensive task. As a result, metrology services have become more popular as a third-party offering.

The growing incorporation of 3D modeling and 3D printing has also helped the global metrology services massively. 3D modeling and scanning requires perfect measurement, which can be difficult to achieve and maintain manually. 3D printing, which has been developed with the very aim of producing exact copies of the printed object, also requires perfect precision, which necessitates the use of advanced metrology services.

Which is the leading regional segment of the global metrology services market?

Geographically, North America and Asia Pacific are the leading contributors to the global metrology services market. Asia Pacific is home to a booming automotive industry, which makes extensive use of metrology services. The flourishing consumer electronics market in Asia Pacific is also highly conducive to growth of the metrology services market, as the increasing disposable income of consumers in India, China, South Korea, and Japan has made Asia Pacific a leading market for premium smartphones.

On the other hand, North American companies are among the leading producers of metrology services. In the latter half of 2016, Zeiss Industrial Metrology and FARO, two of the leading players in the global metrology services market, announced plans to expand their operations in the North America market, with Zeiss Industrial Metrology announcing the opening of a new metrology services center in Nashville, Tennessee, and FARO announcing the acquisition of BuildIT Software & Solutions Ltd., a leading producer of 3D metrology software. This illustrates the steady growth prospects for the North America market for metrology services in the coming years.

Other key players in the global metrology services market include Renishaw plc, Nikon Metrology Inc., Hexagon AB, Danish Micro Engineering A/S, Optical Metrological Services, Optical Gaging Products Inc., and Trescal SA.

0 comments:

Post a Comment

Note: only a member of this blog may post a comment.

Latest Post

Market Research Reports