Global Metrology Services Market was valued at US$ 1,042.8 Million in 2021 and is expected to surpass US$ 3,337.9 Million by 2030, registering a CAGR of 13.8% during the forecast period (2022-2030), according to Global Metrology Services Market, By Product Type (Coordinate Measuring Machines (CMM)(Gantry machines, Bridge machines, Articulated arm machines, Horizontal arm machines) Optical Digitizers and Scanners (ODS)(3D laser scanners, White light scanners, Laser trackers)), by Application (Automotive, Aerospace, Industrial, Power generation and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), published by Coherent Market Insights.
Metrology is a scientific discipline concerned with measuring and its practical applications. It is the field of measuring that entails the development of novel methods, the creation of measurement standards, and the dissemination of those standards to users. Metrology practice includes a variety of activities such as the administration of measuring tools, the use of units of measurement, and testing processes. Legal metrology entails developing and recording standards, which are frequently controlled by legislation. These actions are required for precise measurements and are carried out by governments all around the world.
The global metrology services market is estimated to account for US$ 3,337.9 Mn in terms of value by the end of 2030.
Key Developments
- In March 23rd, 2022, Hexagon AB has acquired ETQ, a SaaS-based quality management system (QMS), environment, health and safety software, and compliance management software. The company will be included into Hexagon's Manufacturing Intelligence division. ETQ Reliance, the multitenant QMS software from ETQ, provides as the data basis for automating the collection and delivery of production quality control data, nonconformance reports, and customer feedback.
Market Driver
Manufacturers are progressively incorporating computer-aided design and computer-aided manufacturing (CAD/CAM)-based techniques into the manufacturing cycle because of the benefits such as cost savings, reduced errors, and shorter production cycles. To meet the needs of worldwide clientele, manufacturers are implementing internationally recognized standards such as QS-9000, ISO-9001, and Six Sigma. As a result, the demand for metrology services has greatly increased. As a result of these reasons, the worldwide metrology services market is likely to increase throughout the forecast period. The introduction of new products is projected to drive growth in the worldwide metrology services market during the forecast period. Verisurf Software, a measurement solutions company, for example, presented its latest metrology software, Verisurf 2019, a measurement software for automated quality inspection and reporting, scanning and reverse engineering, tool building and assembly guidance, at the IMTS show in Chicago, U.S., in September 2018.
Global Metrology Services Market - Impact of Coronavirus (Covid-19) Pandemic:
The pandemic of COVID-19 has a detrimental influence on the metrology services business. The epidemic has compelled a lot of firms from many industries to reconsider their consumer reach and engagement strategies. Businesses are also depending on onsite equipment and technical services to handle present and potential measurement difficulties in the automobile and energy industries. As a result, in the post-pandemic period, end-use industries have taken some game-changing decisions, opening up new prospects for the metrology services industry. The expanding usage of autonomous robots in production enables real-time data processing of measurements. This allows for easy laboratory measurements and regular quality inspections.
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Key Trends and Analysis of the Global Metrology Services Market:
- In a subsequent Metrology Conclave, Prime Minister India stressed the country's efforts to improve the quality of products supplied under the Make In India programme, and government participation in increasing quality control standards within regional businesses has been extended. In the month of January 2021, at the Nationgn. Creating a national standards and metrology system is a critical supporter and component of the goal of becoming a regional and worldwide hub for future industries, as well as a global market for numerous sectors.
- In August 20th, 2022, LMI Technologies (LMI), a leading producer of 3D scanning and inspection systems, announced the formal launch of its newest Gocator 2600 Series of 4K+ resolution smart 3D laser line profile sensors. Custom optics and a powerful 9-megapixel imager enable these factory-calibrated sensors to deliver 4200 data points per profile for high-resolution 3D scanning and inspection across broad fields of view in applications such as battery inspection, building materials, automotive, rubber and tyre production, and general factory automation.
- Major players operating in the global metrology services market are Hexagon AB, Trescal SA, Optical Metrological Services, Carl Zeiss Corporation, Danish Micro Engineering A/S, Nikon Metrology Inc., FARO Technologies, Inc., Renishaw plc, and Optical Gaging Products, Inc.
