Key Market Overview:
Metrology services market is estimated to surpass USD 2.8 Billion by 2030 from the value of USD 1.8 Billion in 2022, and the market is anticipated to grow at a CAGR of 5.8% from 2022 to 2030.
Metrology services are mainly offered to several industries for the major purpose of accurate and quality measurement. These services help organizations to improve their manufacturing productivity without having any effect on existing resources. Additionally, these metrology services are primarily adopted to help manufacturers focus on key areas of improvement. Thus, a set of metrology standards have been defined to maintain the accuracy of measurement in any testing equipment.
Furthermore, these services are extensively used in multiple applications such as aerospace, industrial, automotive, power generation, and others to meet the technical and quality processes of component fabrication. Three fundamental types of metrology are adopted by many businesses, namely scientific metrology, legal metrology, and industrial metrology. The mentioned set of metrology standards falls under the category of scientific metrology which includes the international system of units such as the International Committee for Weights and Measures (CIPM), the International Bureau of Weights and Measures (BIPM), and the National Institute of Standards and Technology (NIST) in the U.S.
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||2.8 Billion|
|By Productl||Coordinate Measuring Machines (CMM) (Horizontal arm machines, Gantry machines, Articulated arm machines, Bridge machines) Optical Digitizers and Scanners (ODS) (3D laser scanners, White light scanners, Laser trackers)|
|By Application||Automotive, Aerospace, Industrial, Power generation, and Others|
|By Geography||Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia] Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland] North America [United States, Canada, Mexico] Middle East & Africa [GCC, North Africa, South Africa] South America [Brazil, Argentina, Columbia, Chile, Peru]|
|Key Players||Hexagon AB, Carl Zeiss Corporation, Nikon Metrology Inc., Trescal SA, Optical Metrological Services, Danish Micro Engineering A/S, FARO Technologies, Inc., Renishaw plc, Apex Metrology Ltd, Optical Gaging Products, Inc., Atos Se, Infosys Ltd, Kofax Ltd, Eley Metrology Limited|
The increased focus on cost and time efficiency in industrial manufacturing processes requires the adoption of metrology services to cut down raw material wastage. Furthermore, the rising adoption of computer-aided manufacturing and computer-aided design (CAM/CAD)-based processes in production plants also results in high market demand. These CAM/CAD-based processes are primarily involved to ensure accuracy and consistency with product quality and bring in precision while producing complex patterns such as the tracks on circuit boards. Additionally, a large number of manufacturers are shifting towards adopting internationally-accepted quality standards such as ISO-9001, QS-9000, and Six sigma to cater to the client\'s requirements. This results in a favorable increase in the metrology services market shares.
The lack of technical and skilled labor to manage such advanced services limit market adoption. Further, the high costs of such services are also not a cost-effective solution for large numbers of MSMEs with limited access to resources and investments. Additionally, the unorganized implementation of global quality standards also restrains market growth as many organizations face difficulties to respond to such global changes.
The COVID-19 pandemic resulted in a major decline in market growth, especially during the initial phases of the outbreak. Major business facilities had to stop their operations to contain the spread of the virus among the labor force. This resulted in reduced investments in technology integration such as metrology services during these phases. However, post-pandemic, the market witnessed significant growth as government restrictions were uplifted to continue the operations of manufacturing facilities. Several businesses focused on the adoption of such metrological services to bring efficiency into daily operations and meet quality standards for the end product.
Metrology Services Market Segmentation:
The product segment is bifurcated into optical digitizers and scanners (ODS) and coordinate measuring machines (CMM). The coordinate measuring machines are further sub-segmented into gantry machines, articulated arm machines, bridge machines, and horizontal arm machines. This CMM segment is projected to contribute the largest revenue contribution to metrology services market statistics during the forecast period. The CMM is mainly integrated by businesses to measure the dimensions of tools or machine components with high accuracy which could be difficult to measure otherwise. Thus, the segment is widely adopted among manufacturing facilities to identify any possible quality defects at early stages and resolve them concerning the original specimen design. Further, optical digitizers and scanners are also projected to contribute substantial shares to market growth. The ODS mainly uses laser scanning technology for imaging the several coordinate points of any object and redesigning them using the software.
The application segment is categorized into aerospace, automotive, industrial, power generation, and others. The aerospace applications are estimated to increase with the fastest CAGR during the forecast period. Metrology-assisted manufacturing and the requirement of metrology tools for measuring sub-micron tolerances in several optical applications are largely used in aerospace. In the aerospace sector, production facilities consider metrology as the core component to measure complex specifications of aerospace parts. Thus, the metrology instruments such as bore gauges, dial indicators calipers, wire gauges thermometers, feeler gauges, and others are used to measure titanium alloy-based, high-strength steel aerospace components. Additionally, automotive applications are also expected to contribute substantial shares to the market growth in terms of revenue. Metrology allows automotive manufacturers to manufacture several identical parts of improved equipment, and it also helps to make sure that any vehicle runs safely and smoothly. Recently the original equipment manufacturers (OEMs) are shifting their focus to automate car part inspection. They have also started to involve metrology data with factors such as statistical process control, product lifecycle management systems, and supply chain management software.
The regional segment comprises North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. North America is expected to contribute the largest shares to the market growth in terms of value. The growing disposable income among the population complements the high prices of quality end products. Thus, several businesses have started to adopt high-precision quality inspection into business processes.
Further, Europe is also anticipated to contribute substantial shares to the metrology services market growth. The presence of an established automobile industry is a major sector that utilizes precise metrology services to manufacture high-quality vehicle components. Additionally, the large adoption of technology advancements within production plants located in the European region helps in the easy involvement of such metrology services in existing capital infrastructure.
Metrology Services Market Competitive Landscape:
The market research report issued on the metrology services offers a comprehensive evaluation of insightful statistics in terms of market dynamics, segmental analysis, SWOT analysis, and others. In the view of industry players, the competitors have the opportunity to focus on mergers and acquisitions, product innovations, collaboration strategies, and their business portfolio contributions. Listed are the major market players that operate in the current market circumstances–
• Hexagon AB
• Carl Zeiss Corporation
• Nikon Metrology Inc.
• Trescal SA
• Optical Metrological Services
• Danish Micro Engineering A/S
• FARO Technologies, Inc.
• Renishaw plc
• Apex Metrology Ltd
• Optical Gaging Products, Inc.
• Atos Se
• Infosys Ltd
• Kofax Ltd
• Eley Metrology Limited