Metrology Market Advances as COVID-19 Outbreak Accelerates Use of IoT
Market Research Future (MRFR) anticipates that the Metrology market2020 can gain a valuation of USD 1255.5 million by 2027. It is also expected that the market size can advance at a rate of 6.82% from 2016 to 2027 (evaluation period). We will provide COVID-19 impact analysis with the report, along with all the key developments since the coronavirus disease outbreak.
Top Drivers and Key Challenges
The COVID-19 outbreak has affected the worldwide economy by forcing the global population into lockdown and giving rise to challenges in the form of health crisis. Businesses everywhere are adopting mitigation tactics to bring down the COVID-19 impact on the revenue and the slowdown of the industrial production. The pandemic has led curbed movement of non-essential items as well as resources, which has brought the manufacturing of equipment to a standstill across the globe. This is no doubt expected to have a domino effect on the equipment manufacturers across the metrology market, with a continuously growing gap between demand and supply
Leading Market Firms
The top market firms covered in the market study include 3D Digital Corporation (U.S.), Mitutoyo Corp. (U.S.), Nikon metrology (Belgium), Faro Technologies (U.S.), Metrology software product Ltd. (U.K.), Reinshaw (U.K.), Hexagon AB (Sweden), Perceptiopn Inc. (U.S.), Carl Ziess (Germany), to list a few.
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Metrology Services Market Trends
The fast uptake of cloud-based metrology software such as on-machine, geometric dimensioning and tolerance, robotic metrology, point cloud, automated, multisensory and laser scanning technology can be one of the key trends that can lead to further expansion of the metrology market.
Segmental Analysis
The metrology market has been considered for type, product and end-user.
· The types of metrology taken in account are scientific metrology, industrial metrology, and more.
· Coordinate measuring machine/CMM, optical digitizers and scanners/ODS, and others are some of the key products listed in the report. Between these, it is anticipated that the coordinated measuring machine market can observe better growth than its counterpart, owing to the calibration, machine installation, repairing and retrofitting services it provides.
· Automotive, energy & power, aerospace, consumer electronics, manufacturing, and more are the top end-users considered in the market study.
Regional Insight
The metrology industry has been regionally considered for North America, Europe, Asia-Pacific, and the rest of the world.
Europe continues to dominate the metrology market since 2016, with the biggest share of 32%. Since the region has a well-developed network-based infrastructure, the rapidly evolving demand of the end-consumer is promptly taken care of by the manufacturers.
MRFR projects the APAC market to achieve the fastest expansion rate in the near future, given the striking growth of the aerospace and defense sector in the region. The power generation and industrial applications seem to be driving the growth of metrology services market, with the highest demand arising for 3D scanner based metrology services.
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TABLE OF CONTENTS:
1. Market Introduction
2. Research Methodology
3. Market Dynamics
4. Executive Summary
5. Market Factor Analysis
6. Metrology Market, By Segments
7. Competitive Analysis
Continued…
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