Rising Need for Precise Measurements Creates Revenue Opportunities for Vendors Offering Advanced Metrology Solutions
SANTA CLARA, Calif., Dec. 16, 2019 /PRNewswire/ --The push for continuous measurements due to industries' shift to smart/digital manufacturing is creating an urgent need for advanced metrology solutions.
SANTA CLARA, Calif., Dec. 16, 2019 /PRNewswire/ -- The push for continuous measurements due to industries' shift to smart/digital manufacturing is creating an urgent need for advanced metrology solutions. The rising complexity of devices and demand for precise measurements in industries such as automotive, aerospace and defense, electronics, and medical are expected to propel the $425.4 million market toward $559.9 million by 2023 at a compound annual growth rate (CAGR) of 5.6%.
"The drive toward automating processes with measurements and inspection moving closer to the assembly line is driving the demand for optical and non-contact inspection," said Ram Ravi, Industry Analyst, Measurement & Instrumentation. "Manufacturing trends such as miniaturization are further helping to accelerate the adoption of technologies such as computed tomography (CT) in dimensional metrology."
Frost & Sullivan's recent analysis, Global Dimensional Metrology Software Market, Forecast to 2023, analyzes the key global trends and structure of the market. It examines the functionalities of quality control and inspection and reverse engineering across the product types of fixed and portable systems. It covers the geographic markets of North America (NA); Latin America (LA); Europe, the Middle East, and Africa (EMEA); and Asia-Pacific (APAC).
For further information on this analysis, please visit: http://frost.ly/3x4
"The market will experience increased consolidation over the next five years," noted Ravi. "Leveraging their strong high-precision portfolio, large metrology vendors will actively acquire vendors that complement their solutions to meet requirements across end-user verticals."
With industries being challenged to increase productivity and flexibility, portable metrology solutions are likely to witness substantial growth. The most successful vendors will be the ones that make the most of the growth opportunities offered by:
- Integrations and partnerships with solution providers.
- The delivery of automated metrology solutions.
- Niche applications such as energy, marine, shipyard, and space, where the demand for dimensional measurements is high.
- Capacity-enhancing solutions such as handheld and other types of coordinate measuring machines (CMMs).
Global Dimensional Metrology Software Market, Forecast to 2023 is part of Frost & Sullivan's global Test & Measurement Growth Partnership Service program.
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Global Dimensional Metrology Software Market, Forecast to 2023
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SOURCE Frost & Sullivan
