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Global Metrology Services Market 2019-2023 | Emerging Applications of Metrology Services in Additive Manufacturing to Boost Growth | Technavio

May 17, 2019
Technavio has published a new market research report on the global metrology services market from 2019-2023. (Graphic: Business Wire)

LONDON--(BUSINESS WIRE)--May 17, 2019--

The global metrology services market is expected to post a CAGR close to 7% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has published a new market research report on the global metrology services market from 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the market is the increasing use of CAD by manufacturers. Currently, modern manufacturing increasingly requires manufacturers to use CAD software even for non-critical parts in the automotive, aerospace, defense, and heavy equipment industries. This is because CAD not only automates the design process but also offers an opportunity to introduce minor or major design changes in the CAD model of the current component. The growing adoption of CAD by manufacturers is increasing demand for metrology services as the comparison of a tool or component produced can be made quickly with a CAD model using a CMM, tracker, scanner, or visual device. The efficiency of the inspection process improves significantly, thereby driving the market towards a positive outlook during the forecast period.

As per Technavio, the emerging applications of metrology services in additive manufacturing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global metrology services market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global metrology services market: Emerging applications of metrology services in additive manufacturing

With additive manufacturing, construction, and forensics emerging as new application areas, market institutions such as the National Institute of Standards and Technology (NIST) are helping manufacturers develop industrial capabilities for additive manufacturing. This is also leading to metrology service providers developing methods, tools, data, and standards to monitor processes in additive manufacturing so that manufacturers can determine the effectiveness of the components and parts. For instance, ZEISS introduced a new holistic and integrated 3D-manufacturing inspection solution for improved yield in additive manufacturing. With enhancements in additive manufacturing processes to produce parts that have low tolerances, metrology service providers are also expected to increase their offerings for such manufacturers, thereby driving growth for the overall global market during the forecast period.

“Apart from the emerging applications of metrology services in additive manufacturing, the growing adherence to global quality standards, the inability of traditional measurement products to analyze complex geometries, the shrinking lifecycle of consumer and industrial products, and the increasing number of M&A in the market are some major aspects that are expected to contribute largely to the growth of the overall global market,” says a senior analyst at Technavio.

Global metrology services market: Segmentation analysis

This market research report segments the global metrology services market by application (heavy equipment, automotive, aerospace and defense, others) and geographical regions (Europe, APAC, North America, South America, and MEA).

The European region led the market in 2018, followed by APAC, North America, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the rapidly growing investments in the power generation and automobile sectors.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190517005316/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

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SOURCE: Technavio Research

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PUB: 05/17/2019 11:40 AM/DISC: 05/17/2019 11:40 AM

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