Global Metrology Services Market 2019-2023
About this market
Inability of traditional measurement products to analyze complex geometries will be a key factor driving the global metrology services market. Metrology tools need to be integrated into manufacturing processes to ensure their availability on the factory floor, thus driving the demand for the metrology service providers and leading to market growth. OEMs need to have extensive control over the manufacturing process as well as the expertise to precisely measure components using modern metrology tools. Technavio’ s analysts have predicted that metrology services market will register a CAGR of almost 7% by 2023.
Growing adherence to global quality standards
The global manufacturing sector is focused on reducing the number of defects to stay competitive and increase profitability. This is possible by complying with global quality standards which aims at measuring different metrological dimensions of the product after every value addition activity.
Inadequate number of service providers that offer comprehensive metrology services
Only a few metrology service providers offer comprehensive services, including everything from comparing a manufactured part or tool with its CAD model. When OEMs develop in house expertise of measurement, they tend to avail the services of metrology service providers less frequently.
For the detailed list of factors that will drive and challenge the growth of the metrology services market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of several companies. Factors such as the growing adherence to global quality standards and inability of traditional measurement products to analyze complex geometries, will provide considerable growth opportunities to metrology services manufactures. Huf Hülsbeck & Fürst, Johnson Electric, Spark Minda, STRATTEC SECURITY, TOKAIRIKA, and Valeo are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global Metrology Services Market 2019-2023
Technavio recognizes the following companies as the key players in the global metrology services market: FARO Technologies Inc., HEXAGON, Mitutoyo Corp., Nikon Corp., TRESCAL SA, and ZEISS International
.Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the shrinking lifecycle of consumer and industrial products.”
According to the report, one of the major drivers for this market is the growing adherence to global quality standards.
Further, the report states that one of the major factors hindering the growth of this market is the inadequate number of service providers that offer comprehensive metrology services.
FARO Technologies Inc.HEXAGONMitutoyo Corp.Nikon Corp.TRESCAL SAZEISS International
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