Industrial Metrology Market by Offering (Hardware, Software, Services), Equipment (CMM, ODS, X-ray, CT), Application, End-User Industry (Aerospace & Defense, Automotive, Manufacturing, Semiconductor) and Region - Global Forecast to 2029

Industrial Metrology Market by Offering (Hardware, Software, Services), Equipment (CMM, ODS, X-ray, CT), Application, End-User Industry (Aerospace & Defense, Automotive, Manufacturing, Semiconductor) and Region - Global Forecast to 2029

The Industrial Metrology Market is projected to reach from USD 14.9 billion in 2024 to USD 20.6 billion by 2029; it is expected to grow at a CAGR of 6.7% from 2024 to 2029. The widespread application of industrial metrology extends to the continuous maintenance and repair of aerospace and defense equipment, assisting in the detection of wear and damage that may affect performance or safety. These industries depend greatly on accurate measurement and inspection to guarantee that components adhere to precise specifications and tolerances, as even slight deviations can lead to notable implications for safety and performance.

“The service offering is projected to grow at the highest CAGR during the forecast period.”

The uptake of service offerings in industrial metrology is driven by the pursuit of cost-effectiveness, flexibility, efficiency, scalability, and access to specialized expertise, all of which enable companies to fulfill their metrology requirements more efficiently. Additionally, service offerings in industrial metrology offer scalability to adjust to changing demand and project needs.

“ODS equipment is projected to have the highest growth during the forecast period.”

ODS equipment is increasingly utilized in industrial metrology due to its ability to perform non-contact measurements, its speed, accuracy, advanced software functionalities, and compatibility with other metrology technologies. These ODS systems also include advanced software features for analyzing and visualizing data, facilitating thorough examination of measurement results and smooth integration into existing metrology workflows, thereby improving overall productivity and effectiveness in industrial metrology.

“Asia Pacific region is likely to grow at the highest CAGR.”

The industrial metrology market in the Asia-Pacific region has experienced significant growth, driven by the influential presence of key market players that have fueled the regional market's expansion. The rising adoption of advanced manufacturing technologies like additive manufacturing, robotics, and automation is driving increased demand for industrial metrology in the Asia Pacific region. Concurrently, increasing consumer expectations for top-quality products, along with strict regulatory standards, are motivating manufacturers in Asia Pacific to invest in metrology solutions for quality control and assurance.

Breakdown of primaries

The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:

By Company Type - Tier 1 – 35%, Tier 2 – 45%, Tier 3 – 20%

By Designation— C-level Executives - 35%, Directors - 25%, Others – 40%

By Region—North America - 45%, Europe - 20%, Asia Pacific - 30%, RoW - 5%

The industrial metrology market is dominated by a few globally established players such as Hexagon AB (Sweden), Nikon Corporation (Japan), FARO (US), Carl Zeiss AG (Germany), JENOPTIK (Germany), KLA Corporation (US), Renishaw plc (UK), Mitutoyo Corporation (Japan), KEYENCE CORPORATION (Japan), CREAFORM (Canada). The study includes an in-depth competitive analysis of these key players in the industrial metrology market, with their company profiles, recent developments, and key market strategies.

Research Coverage:

The report segments the industrial metrology market and forecasts its size by offering, application, equipment, end-user industry, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions— North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the industrial metrology ecosystem.

Key Benefits to Buy the Report:

Analysis of Key Drivers (Increasing R&D investments in 3D metrology, Integration of IoT sensors with industrial metrology for promoting evolution in smart manufacturing, High focus on quality control and inspection equipment in precision manufacturing, Increasing demand for automobiles in emerging economies). Restraints (Limited technical knowledge regarding the integration of industrial metrology with robots and 3D models, Integration of industrial metrology processes with existing manufacturing units). Opportunities (Rising adoption of industrial metrology products in the food industry, Adoption of cloud, IIoT, and AI services to integrate metrological data, Rise in demand for industry 5.0) and Challenges (Ensuring data integrity and protection against cyber security, Lack of simplified software solutions).

Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the industrial metrology market.

Market Development: Comprehensive information about lucrative markets – the report analyses the industrial metrology market across varied regions

Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the industrial metrology market.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and product offerings of leading players like Hexagon AB (Sweden), Nikon Corporation (Japan), FARO (US), Carl Zeiss AG (Germany), JENOPTIK (Germany), KLA Corporation (US) among others in the industrial metrology market. Show more