Global Metrology Services Market Size study & Forecast, by Product (CMM, ODS) by Application (Automotive, Aerospace, Industrial, Power Generation, Others) and Regional Analysis, 2022-2029

Global Metrology Services Market Size study & Forecast, by Product (CMM, ODS) by Application (Automotive, Aerospace, Industrial, Power Generation, Others) and Regional Analysis, 2022-2029

Global Metrology Services Market is valued approximately USD 772.16 million in 2021 and is anticipated to grow with a healthy growth rate of more than 5.8% over the forecast period 2022-2029. The services that are supplied to industries for measurement purposes are known as metrology services. They are widely utilised in applications including industrial, aerospace, automotive, power generation, and others, and they assist the company in increasing production without compromising the need for resources. Increased consumer demand for luxury, electric, and hybrid vehicles as well as increased mechanization in the agricultural sector are among the key reasons propelling the market for metrology services. These trends are also vital in accelerating market expansion. Additionally, during the forecasted period, a surge in demand from emerging economies would further open up new potential for the market for metrology services.

According to the Statista automotive market is recovering slowly and in 2022 the market would lift up to USD 2.95 trillion from USD 2.71 trillion in 2020. Along with this, according to the same source, in 2030, 58 million new self-driving cars are anticipated to be added to the worldwide, which would directly increase the adoption of metrology services. Additionally, around 26% of all new car sales are anticipated to be electric vehicles. The use of metrology services is increasing in automotive sector which is driving the growth for the market over the forecast period. However, the high cost of Metrology Services stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Metrology Services Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. In 2021, North America dominated the market, and it is anticipated that it would do so again throughout the projection period. Europe followed the North American continent closely. Europe is home to a sizable number of automobile manufacturers. A huge growth in the local aerospace and defense industry is predicted to make Asia Pacific the fastest-growing area throughout the forecast period. The metrology services market in Asia Pacific is anticipated to be driven by industrial and power generation applications. The power generation sector uses 3D scanner-based metrology services for a variety of purposes.

Major market player included in this report are:
Hexagon AB
Carl Zeiss AG
Renishaw plc
Nikon Metrology Inc.
Quality Vision International
Optical Metrology Services Ltd
Perceptron, Inc.
Intertek Group plc
Dimensional Metrology Services.
Marand Precision

Recent Developments in the Market:
 Renishaw and Verisurf Software Inc. agreed to terms in November 2021. This Agreement governs the synchronisation of Renishaw CMM software by Verisurf Software Inc.
 FARO Technologies bought HoloBuilder, Inc. in June 2021. Through this acquisition, HoloBuilder, Inc. can provide FARO with its industry-leading photogrammetry-based 3D platform, enabling hardware-independent image collection, registration, and viewing for the rapidly expanding digital twin market.
Global Metrology Services Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Product, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product:
Coordinate-measuring machine (CMM)
Operating Deflection Shape (ODS)

By Application:
Automotive
Aerospace
Industrial
Power Generation
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

Hexagon AB
Carl Zeiss AG
Renishaw plc
Nikon Metrology Inc.
Quality Vision International
Optical Metrology Services Ltd
Perceptron, Inc.
Intertek Group plc
Dimensional Metrology Services.
Marand Precision

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