Metrology Services Market to Hit USD 720.3 Million by 2018: Transparency Market Research
ALBANY, New York (PRWEB) September 17, 2014
The global metrology services market is set to see an increase in worth due to the key driving factors of increasing demands in end-user industries and recent technological advancements. An expected CAGR of 8.2 % puts the metrology services market from $448.6 million in 2012, to $730.2 million in 2018, as stated in a Transparency Market Research report titled “Metrology Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2012 – 2018”.
The report primarily categorizes the metrology services market into two segments: Coordinated Measuring Machines (CMMs) and Optical Digitizers and Scanners (ODSs). The CMM market is expected to grow at a CAGR of 7.2% between 2012 and 2018. The report cites increasing demand for metrology machinery’s support, calibration, retrofitting, repairing, and installation as primary reasons for growth.
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The report also says the ODS segment is expected to grow at a CAGR of 9 % from 2012 to 2018. The market should reach $435.8 million by 2018. It cites the reasons for this growth as a boom in the 3D laser scanner market. With more objects of increasing geometric complexities being created, the use of highly-accurate 3D laser scanners will increase as well. The report puts the 3D laser scanner market at 35.1% in 2012, stating that it will increase even more in the coming years.
Key factors of restraint in the metrology services market, according to the report, include a relative stagnation in the generic machinery production, and a high cost of materials. The report also says that a limited amount of skilled machine operators is another cause of slower growth in the market. Another reason is the adoption of CAD/CAM technologies that improve measurability and efficiency of production.
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The report provides details according to the two major segments in this market: by product type and by application. Sub-categories in the CMM and ODS sectors (by type) include gantry machines, bridge machines, white light scanners, and 3D laser scanners. Application-based categories in the report include aerospace, industrial processes, power generation, medical, automotive, and electronics. Based on the above classifications, the report analysis expands the scope of each segment, its future position in the market, legal passages and constraints, R&D agencies, and global retailers.
The research report utilizes Porter’s Five Force Analysis, and provides exhaustive content regarding the key players in the market, such as Hexagon AB, Danish Micro Engineering A/S, Optical Metrological Services, Optical Gauging Products, Inc, FARO Technologies, Inc., Carl Zeiss Corporation, Nikon Metrology Inc., Renishaw Plc., and Trescal SA. Key regions explored in the report are North American, Europe, Asia Pacific, and the Rest of the World (Africa, Latin America, and the Middle East). The report also further explores prime scenarios and possibilities in the two major sectors of CMM and ODS.
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