Global Portable CMM Growth Opportunities

Global Portable CMM Growth Opportunities

This research analyzes the global trends in the portable CMM market. It has steadily grown, with demand predominantly coming from the automotive, machine shop, and aerospace industries. The disruption caused by the onset of COVID-19 resulted in contracted demand across these industries, and the economic uncertainty resulted in customers being cautious about capital expenditures and focusing on maintaining liquidity. Newer variants of the COVID-19 virus coupled with longer lead times and material shortages will continue to hamper industries during the short term.

The portable CMM market will see positive growth in 2021, driven mainly by the automotive and machine shop industries. The market for portable CMM is likely to return to pre-COVID levels in 2022 to 2023 as plant utilization levels slowly return to normalcy. With prosthetics and implants being low volume-high mix applications, demand for flexible inspection in this space is high. The market is segmented by product type, vertical market, and regional market. The study covers market share analysis of top competitors by product segments and discusses the prominent distribution channels used. Annual estimates and forecasts are provided for 2017 through 2025, and the geographical scope of the study includes North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW).

APAC is the fastest-growing region with growing industrialization in economies such as China and India. The market is usually approached through a combination of direct and indirect channels, and the global portable CMM market is estimated to reach $564 million by 2025.
Portable CMM includes articulated-arm and handheld CMMs, and articulated-arm CMM currently holds the major share of the market. This is expected to continue through the forecast period. Growing demand for shop floor measurements, especially in automotive applications, is expected to augment growth prospects for portable CMMs.