Metrology Service Market Report Statistics

• Global metrology service market revenue is estimated to reach USD 1,546.1 Million by 2030 with a CAGR of 6.2% from 2022 to 2030
• North America metrology service market share generated over 36% shares in 2021
• Asia-Pacific metrology service market growth will record substantial CAGR of over 7% from 2022 to 2030
• Based on product, optical digitizer and scanner (ODS) captured over 59% of the overall market share in 2021
• Among application, automotive sub-segment occupied more than 29% of the market share from 2022 to 2030
• Increasing need for luxury, hybrid, and electric vehicles is a popular metrology service market trend that is fueling the industry demand 

Global Metrology Service Market Dynamics

Market Drivers

• Growing adoption of smart automation
• Increasing safety and security concerns
• Rising need for effective product measuring solutions
• Surging adoption of connected car systems

Market Restraints

• Growing risks of cyber attacks and data breaches
• Design complexity issues

Market Opportunities

• Robust opportunities from automotive and aerospace sectors
• Continuous investments by governmental bodies

Metrology Service Market Report Coverage

Metrology Service Market Growth Factors

Growing demand for exact estimation of parts and segments from automotive, electronics, and power generation industries is relied upon to goad market over the coming year. High essentialness in various different applications, for example, mining and overwhelming modern creation, producing, manufacture, refineries, to material investigation has prompted development of metrology administrations showcase. Additionally, other modern applications, for example, break and disappointment examination, grain estimating, cast press modulatory and drop investigation, and surface investigation are foreseen to drive showcase development over the coming years.

Metrology Service Market Insights

Metrology services are utilized in main shaft, tops-off alignment, turbines, horizontal machine bearing, casting, scroll case geometry and assembly, and other power generation applications. They utilize most recent laser innovation and convenient arrange estimation arms, and extensive volume scanners in such application may increase demand in coming years.

Market is gaining prominence due to expanded need crosswise over automotive, industrial, and power generation among opposite end-use segments. This ascent popular can be ascribed to developing adherence to worldwide quality norms for better administrations. Ascend in universal quality standard for accuracy the executives over the whole business area has energized interest for metrology hardware and administrations. This appropriation is foreseen to multiply over the forecast period.

Market for Coordinate Measuring Machine (CMM) is relied upon to witness a significant CAGR of 8.5% by 2026. Optical Digitizer and Scanner (ODS) based metrology items represented greatest income generation in 2018. Europe was noticeable market for metrology benefits and produced income worth USD 189.3 million out of 2016. Metrology administrations advertise for mechanical application was esteemed at USD 145.7 million of every 2016 and is relied upon to keep extending at a consistent CAGR over the coming years.

Metrology Service Market Segmentation

The global metrology service market is segmented based on product, application, and geography.

Metrology Service Market By Product

• Coordinate Measuring Machine (CMM)
  • Gantry Machine
  • Bridge Machine
  • Articulated Arm Machine
  • Horizontal Arm Machine
• Optical Digitizer and Scanner (ODS)
  • 3D Laser Scanner
  • White Light Scanner
  • Laser Tracker

According to the metrology service industry analysis, optical digitizer and scanner (ODS) sub-segment generated the largest revenue in 2021 and is expected to continue its trend during the projected timeframe 2022 to 2030. With touch probe accuracy, ODS provides greater precision for measuring difficult geometries. Because of their high accuracy and precision, 3D laser scanners are in high demand among all ODS products. On the other hand, coordinate measuring machine (CMM) is expected to grow with significant growth rate in the coming years. The ability of CMMs to provide positional, dimensional, and surface measurement in a single system is expected to be the primary driving force in this segment.

Metrology Service Market By Application

• Automotive
• Aerospace
• Industrial
• Power Generation
• Others

According to the metrology service market forecast, automotive occupied significant market share throughout 2022 to 2030. The segment's rapid growth can be attributed to technological advancements in automobiles, which have resulted in increased component precision. To promote passenger safety, comfort, and satisfaction, every door, seat, panel, and component in an automobile must be precisely aligned. However, aerospace sub-segment would witness a noteworthy CAGR during the forecast timeframe from 2022 to 2030.

Metrology Service Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)

Metrology Service Market Regional Analysis

North America will have a significant market share in 2021 due to rising population demand for electric, hybrid, and luxury vehicles, as well as increased mechanization in the agricultural sector in this region.

Asia-Pacific is expected to witness quickest developing region over the forthcoming years. Industrial and power generation segment is projected to drive the market for metrology benefits in Asia-Pacific. 3D scanner-based metrology administrations utilized in various power age applications are foreseen to drive local development. Dimensional metrology applications in power age industry can additionally goad territorial development over the forecast period.

Europe was the captures the noteworthy market share worth around USD 190.3 million in 2018. This development can be credited to presence of automotive producers. Metrology service are for the most part utilized in car ventures for investigation in a pilot plant for vehicle get together to maintain a strategic distance from quality issues at the season of new vehicle generation.

Metrology Service Market Players

Some of the main businesses present in the area Danish Micro Engineering A/S, Renishaw PLC., Hexagon AB, Carl Zeiss AG, Renishaw plc, Nikon Metrology Inc., Carl Zeiss Corporation; Optical Metrology Services Ltd, FARO Technologies Inc., and Metrology Services, Inc. Significant strategic initiatives undertaken by global businesses include partnerships, new product launch, and acquisitions.