An increased focus on quality control drives metrology market
The optical digitizers and scanners (ODS) segment is expected to grow rapidly over the next several years.
The global metrology service market is booming, according to a new report, “Global Metrology Services Market – Growth, Share, Opportunities, and Competitive Analysis, 2016-2023,” published by Credence Research, Inc. According to the new report the global metrology services market is expected to expand at a CAGR of 7.9% from 2016 to 2023, exceeding US$ 985 million by 2023.
“The resurgence in the industrial sector post economic slowdown coupled with the growing trend towards automated manufacturing units is instrumental in driving demand for metrology solutions and services,” the report explains.
In the global market, there is push to enhance and improve the manufacturing environment. Tighter tolerances and the need for complete detailed inspection and measurement is paramount to competing on the global stage. Manufacturers are moving towards precision engineering as well as integrating automation into the industrial environment, boosting the need for these services. This is a particularly significant trend in the aerospace and automotive industries.
In terms of revenue, optical digitizers and scanners (ODS) comprising 3D laser scanners, laser trackers, and while light scanners dominated the global metrology services market in 2015. The ODS segment made up of over 55% of the global metrology services market revenue and is expected to see comparatively higher growth in the 2016-2023 period.
According to the report, growing demand for precise, accurate and 3D measurements is favoring demand for optical digitizers and scanners across the globe.
With the rise of the ODS segment, the report shows a decline in the coordinate measuring machine (CMM) segment. While the market for coordinate measuring machines is witnessing sluggish growth, the demand for articulated arm services is on an upsurge and is estimated to witness steady growth during the forecast period.
As of 2015, the industrial manufacturing segment accounted for over 28% of the global metrology services market revenue. The growing trend towards complete automation in manufacturing facilities bodes well for market growth in this segment. The automotive was the second largest end-use application market, which accounts for around one-fourth of the global market revenue. The market for automotive metrology services is expected to be driven by growing demand and production of automobiles across the globe.