Industrial Metrology Market to Reach USD 24.41 Billion by 2032 Owing To Rising Demand for High-Precision Manufacturing Processes | Report by SNS Insider

The Industrial Metrology Market Growth is due to the Increasing Demand for High-Precision Manufacturing Processes Across Various Industries

Pune, July 11, 2024 (GLOBE NEWSWIRE) — The Industrial Metrology Market Share is expected to witness a substantial surge, reaching USD 24.41 Billion by 2032 and growing at a CAGR of 6.20% from 2024-2032.

The industrial metrology market includes measurement technologies that are utilized across various manufacturing and production processes. With the development in the domain of manufacturing technologies, the growing trend of automation and stringent quality specifications across distinct industrial sectors including the automotive, aerospace, and semiconductor processes have enabled the incorporation of suitable metrology measurement solutions desirable for obtaining precise measurements as well as quality products.


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Market Players Covered in this Report:

Hexagon, Nikon, FARO Technologies, Carl Zeiss, Jenoptik, KLA Corporation, Renishaw, Mitutoyo Corporation, KEYENCE CORPORATION, Creaform, Perceptron, Automated Precision Inc., Applied Materials Inc., AccuScan, CARMAR Accuracy, Baker Huges, Cyberoptics, Cairhill, ATT Metrology, Trimet, Shining 3D, Automated, Perceptron, Intertek Group, Bruker,  Metrologic Group, and others.

Automation is becoming a major driver of the market as companies are working on smart manufacturing and Industry 4.0 strategies, metrology is becoming more and more integrated into production lines, and automated and sometimes even digital solutions are in demand. Such factors as ongoing innovation and development of increasingly sophisticated non-contact measurement technologies, artificial intelligence-based inspection systems, and other products drive the growth of the target market. The total money paid to the startups whose focus was on the development of technology regarding Industry 4.0 has increased by 319% from 2011 to 2021, reaching $2.2 billion in 2021. Across 11 years, there were 2,513 deals. iii. In 2021, the peak value of the number of acquisitions associated with Industry 4.0 is equal to 132, giving an increase of 116% from 10 years ago. In connection, such examples of acquisitions are the cases when Emerson acquired AspenTech for $11 billion in 2021, Zebra Technologies acquired Fetch Robotics for $290 million in 2021.

Industrial Metrology Market Report Scope & Overview:

Report Attributes Details
Market Size in 2023 USD 14.21 billion
Market Size in 2032 USD 24.41 billion
CAGR (2024-2032) 6.2%
Report Scope & Coverage Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Market Driver
  • Growing Emphasis on Quality Control to Meet the Industry Standards
  • Rising demand for Industry 4.0 to Automate the Manufacturing processes

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Segment Analysis

by Offering:

Hardware has the highest revenue share over the forecast timespan; its revenue is expected to be over 46.76% in 2023. This hardware of the metrology solutions consists of coordinate measuring machines, optical digitizers, and scanners, as well as X-ray and computed tomography systems. As this solution is capable of providing high precision and accuracy, customers need it for inspection and quality control and use it frequently. Metrology software primarily serves for data analysis and quality of measurement evaluation. Developing a highly user-friendly and efficient software solution will facilitate the metrology solutions process in the future. Different services, such as calibration and maintenance, are necessary for the future period to guarantee the stability and performance of the measurement systems.

by End-User:

The automotive segment holds a market share of over 49.56% by 2023 as 3D metrology and optical inspection methods are extensively used in the segment, primarily in quality control and product development. Metrology which ensures exact measurements plays a significant role in the aerospace and defense industries making it inevitable. Similarly, metrology solutions for the semiconductor industry also come under high-precision metrology as these are vulnerable components produced in micro-scale. The general manufacturing industries deploy metrology solutions to improve the accuracy and production rate.

by Offering

  • Hardware
  • Software
  • Services

by Equipment

  • Coordinate Measuring Machine (CMM)
  • Optical Digitizer and Scanner (ODS)
  • Measuring Instruments
  • X-ray and Computed Tomography
  • Automated Optical Inspection
  • Form Measurement Equipment
  • 2D Equipment

by Application

  • Quality Control & Inspection
  • Reverse Engineering
  • Mapping and Modeling
  • Others

by End-User

  • Aerospace & Defense
  •  Automotive
  • Semiconductor
  • Manufacturing
  • Others

Key Regional Developments

North America: The North American industrial metrology market was dominant by 2023 with a market share of about 46.10%. The U.S. was the leading subsegment in the region, considering the high adoption of advanced manufacturing and process automation. Canada was the highest-growing market in North America, a region that is also noted for the rapid growth in the adoption of industrial metrology applications.

Asia Pacific: The Asia Pacific region has been growing significantly considering the rapid industrialization and manufacturing spread in the area, including in China, India, Japan, South Korea, and Taiwan. The area has noted outstanding advancement and adoption of automation and precision manufacturing which has been driving the industrial metrology solution’s use in the area.

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Recent Developments

  • August 2023: Renishaw, a global engineering technologies company, introduces a new product line called RCS. This line is designed for industrial automation and focuses on robots’ accuracy and repeatability in automated processes. It was created to address the main problems associated with manual set-up, calibration, and maintenance.
  • June 2022: ZEISS presented three new products at IMTEX 2022. They include METROTOM 1 as a new casting inspection solution, SURFCOM NEX 200 SD2 as a new surface roughness measurement supplied with a standard roughness standard, and CONTRUA as a portable CMM, which is an extension of the CONTUR model. These launches are associated with the emergence of the new demands of various industries, including sheet metal forming and the perspectives of electric vehicle development.
  • October 2023: ABB Robotics introduces its new OptiFact software platform, a tool similar to manufacturing execution systems, and, simultaneously, separate from them. The new product promotes simplified instant data collection, visualization, and analysis at any automated production facility. It is designed to manage data quickly and simply from all the robots and other devices in the factory.  

Key Takeaways

  • The growing need for enhanced precision across various industries offers countless of opportunities for the market players dealing in metrology solutions.
  • To gain profitability, significant investments in pursuing the research and development of metrology solutions, among which are such promising solutions as 3D scanners and high-precision sensors.
  • The integration of solutions with the features of other end-user applications, such as the production of automotive parts, aerospace technology, and semiconductor manufacturing, will be vital.
  • Innovative metrology solutions, which allow automating the manufacturing process, will also be important for market success.
  • The growing need to save resources and address the enhanced environmental concerns prompts significant attention to solutions that will meet the relevant standards.

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