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    Metrology Market

    ID: MRFR/SEM/0558-CR
    110 Pages
    Aarti Dhapte
    February 2022

    Metrology Market Research Report Information By Offering (Hardware, Software, Services), By Product (Coordinate Measuring Machine (CMM), Optical Digitizers And Scanners (ODS), Video Measuring Machine (VMM), and Industrial Computed Tomography), By End Users (Scientific & Research, Industrial, And Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Industry Forecast Till 2032

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    Metrology Market Summary

    As per Market Research Future Analysis, the Global Metrology Market was valued at USD 10.7 billion in 2023 and is projected to grow to USD 18.4 billion by 2032, with a CAGR of 5.60% from 2024 to 2032. The market is driven by increasing quality requirements in industrial products, particularly in the automotive sector, where precision measurement is critical. The demand for advanced metrology solutions, such as 3D metrology systems and coordinate measuring machines (CMM), is rising due to their efficiency in quality control and inspection processes. The Asia-Pacific region is expected to exhibit significant growth, driven by the manufacturing and automotive industries, with China holding the largest market share.

    Key Market Trends & Highlights

    Key trends influencing the Metrology Market include advancements in technology and increasing demand across various sectors.

    • Metrology Market Size in 2023: USD 10.7 billion.
    • Projected Market Size by 2032: USD 18.4 billion.
    • CAGR from 2024 to 2032: 5.60%.
    • Asia-Pacific accounted for USD 4.05 billion in 2021.

    Market Size & Forecast

    2023 Market Size USD 10.7 billion
    2024 Market Size USD 11.8 billion
    2032 Market Size USD 18.4 billion

    Major Players

    Key players include FARO Technologies, ZEISS, Hexagon, Nikon Corporation, and Mitutoyo America Corporation.

    Metrology Market Trends

    Demand for Quality Control and Inspection Applications is Growing in the Automotive Sector to boost the market growth

    Each week, modern manufacturing facilities turn out billions of finished goods. In the automotive industry, the bulk of parts is made with little human involvement. A unique part is created on an assembly line for a precise measurement with predetermined tolerance and restrictions. Frictional losses cause modern, complex technology to lose accuracy. There might be little change. However, when machines are in charge of generating dimension-sensitive parts for the aerospace and automobile industries, small alterations in measurement can result in significant discrepancies. It enables more accurate production of necessary components by car makers.

    Additionally, this system offers a standard measurement system that specifies the necessary tolerances and limits. The automotive industry is seeing increased use of the coordinate measuring machine (CMM), optical digitizer and scanner (ODS), and automated optical inspection. This aspect is driving the market.

    The attention of major industrial players, centered on Europe in the 20th century, for setting up their manufacturing units has shifted towards Asia Pacific countries over the past two decades. It is a result of the numerous techniques used by the important players and governing bodies of developing nations like India, China, Japan, South Korea, Singapore, and others. Modern industrial metrology quality control and measurement techniques are required because of the region's growing presence in the manufacturing and automotive industries.

    One of the newest and most sophisticated technologies used to measure surface attributes like surface dimensions, surface finishing, area, and others is the 3D metrology system. Compared to traditional methods, measuring the parameters height, depth, breadth, and length take much less time. The market is seeing a rise in 3D metrology techniques due to their many advantages. Therefore, all these factors have enhanced the Metrology market CAGR globally in recent years.

    However, the development of big data, high-tech technologies, virtual drones, aerospace, and defense vehicles is another factor driving the growth of the Metrology market revenue.

    The Global Metrology Market is poised for robust growth as industries increasingly prioritize precision measurement to enhance quality control and operational efficiency.

    U.S. Department of Commerce

    Metrology Market Drivers

    Regulatory Compliance

    Regulatory compliance is a crucial driver in the Global Metrology Market Industry, as industries such as aerospace, automotive, and pharmaceuticals are subject to stringent quality standards. Governments worldwide enforce regulations that necessitate precise measurements to ensure product safety and efficacy. Compliance with these regulations often requires the implementation of advanced metrology solutions, thereby driving market growth. For example, the European Union's regulations on product quality and safety compel manufacturers to adopt reliable measurement systems. This trend is expected to contribute to the market's expansion, with projections indicating a growth to 21.7 USD Billion by 2035.

    Market Growth Projections

    The Global Metrology Market Industry is projected to grow significantly, with estimates indicating a market value of 11.8 USD Billion in 2024 and a potential increase to 21.7 USD Billion by 2035. This growth trajectory suggests a robust demand for metrology solutions driven by technological advancements, regulatory compliance, and an expanding manufacturing sector. The anticipated CAGR of 5.68% from 2025 to 2035 reflects the increasing reliance on precise measurements across various industries. Such projections underscore the importance of metrology in ensuring quality, safety, and efficiency in an increasingly competitive global market.

    Technological Advancements

    The Global Metrology Market Industry is experiencing rapid technological advancements that enhance measurement precision and efficiency. Innovations such as laser scanning, 3D measurement systems, and automated inspection technologies are becoming increasingly prevalent. These advancements not only improve product quality but also reduce operational costs for manufacturers. For instance, the integration of artificial intelligence in measurement systems allows for real-time data analysis and decision-making. As a result, the market is projected to reach 11.8 USD Billion in 2024, reflecting a growing demand for sophisticated metrology solutions across various sectors.

    Growing Manufacturing Sector

    The Global Metrology Market Industry is significantly influenced by the growth of the manufacturing sector, particularly in emerging economies. As countries invest in industrialization and infrastructure development, the demand for accurate measurement tools and systems increases. This growth is evident in sectors such as electronics, automotive, and consumer goods, where precision is paramount. The increasing complexity of manufacturing processes necessitates advanced metrology solutions to ensure quality control and operational efficiency. Consequently, the market is anticipated to grow at a CAGR of 5.68% from 2025 to 2035, driven by the expanding manufacturing landscape.

    Rising Demand for Quality Assurance

    Quality assurance is becoming increasingly critical in the Global Metrology Market Industry, as consumers demand higher standards for products and services. Industries are investing in metrology solutions to enhance quality control processes, thereby minimizing defects and ensuring customer satisfaction. The automotive and aerospace sectors, in particular, are adopting advanced measurement technologies to comply with international quality standards. This trend is indicative of a broader shift towards quality-centric manufacturing practices. As organizations prioritize quality assurance, the demand for metrology solutions is expected to rise, further propelling market growth.

    Emerging Applications in Various Industries

    The Global Metrology Market Industry is witnessing emerging applications across diverse sectors, including healthcare, energy, and telecommunications. The increasing complexity of products and systems necessitates precise measurements to ensure functionality and safety. For instance, in the healthcare sector, metrology plays a vital role in the calibration of medical devices, ensuring accurate diagnostics and treatment. Similarly, the energy sector relies on metrology for monitoring and optimizing performance in renewable energy systems. This diversification of applications is likely to stimulate market growth, as industries recognize the value of accurate measurement in enhancing operational efficiency.

    Market Segment Insights

    Metrology Offering Insights

    Based on offering, the metrology market segmentation includes hardware, software, and services. The hardware segment held the majority share in 2021, contributing to around ~38% of the metrology market revenue. Because it offers greater precision and accuracy for measuring surface separations and distances ranging from millimeters to kilometers. Additionally, the market is expanding due to the rising demand for 3D metrology equipment for quality control and inspection and several end-use industries, including the automotive, aerospace, and defense sectors.

    Metrology Product Insights

    Based on product, the metrology market segmentation includes coordinate measuring machines (CMM), optical digitizers and scanners (ODS), and others. The Coordinate Measuring Machine (CMM) segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2024 - 2032. Due to the rising usage of sophisticated quality control techniques in the manufacturing and automotive industries, the trend of increased adoption of advanced measurement technology will continue during the projection period. Hence, rising applications of Coordinate Measuring Machines (CMM) for Metrology positively impact market growth.

    Metrology End User Insights

    Based on End Users, the metrology industry has been segmented into scientific & research, industrial, and others. Industrial held the largest segment share in 2021 due to the increasing requirement for 3D meteorological equipment for quality assurance and the growing demand for inspection. As a result of the increasing need for 3D measuring technologies due to the ability to scan complex automotive parts and determine the root of a failure, considerations relating to quality difficulties have significantly impacted the industrial meteorology market.

    The fastest-growing segment in the metrology industry is scientific & research. Due to the increasing use of metrology.

    Figure 2: Metrology Market, by End User, 2021 & 2030 (USD Million)

    Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    Get more detailed insights about Metrology Market Research Report—Global Forecast till 2032

    Regional Insights

    By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific Metrology market accounted for USD 4.05 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. The region's market is driven by the rising need for contactless quality control tools and measuring methods in the production and manufacturing of automobiles. Top important players are also implementing different business methods, aiding in market expansion in the area.

    Narendra Modi stressed the government's involvement in raising quality control standards inside local industry during the Metrology Conclave and the country's efforts to improve the quality of goods supplied via the Make In India campaign. Moreover, the China Metrology market held the largest market share, and the India Metrology market was the fastest-growing market in the Asia-Pacific region.

    Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

    Figure 3: METROLOGY MARKET SHARE BY REGION 2021 (%)METROLOGY MARKET SHARE BY REGION 2021

    Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

    North America Metrology market accounts for the second-largest market share. It is projected that market growth will be fueled by the use of cutting-edge technology in the industrial, aerospace, and defense industries in the United States and Canada. Further, the US Metrology market held the largest market share, and the Canada Metrology market was the fastest-growing market in the North America region.

    The Europe Metrology Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to the nation's extensive use of the automobile and aerospace industries, and this trend is anticipated to persist during the projected period. Moreover, the UK Metrology market held the largest market share, and the Germany Metrology market was the fastest-growing market in Europe.

    Key Players and Competitive Insights

    Major industry players are investing a lot of money in R&D to expand their product offerings, which will spur further market expansion for metrology. With significant key development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in an environment where competition is fierce and the market is growing, businesses in the metrology sector must provide affordable products.

    Manufacturing locally to cut operating costs is one of manufacturers' main business tactics in the metrology industry to benefit customers and increase the market sector. Some of the most important advantages for recently have come from the metrology business. The Metrology market major player such as FARO Technologies, Inc, ZEISS, and others are working to expand the market demand by investing in research and development activities.

    The top provider of 3D measuring, imaging, and realization technologies globally is FARO. For 40 years, FARO has offered market-leading technological solutions that let consumers measure their surroundings quickly and easily before using the information to act more promptly and wisely. In September 2021, A new end-to-end 3D digital reality capture and collaboration platform were released by FARO Technologies, Inc., a 4D digital reality solutions provider. This platform uses modern tools like cloud computing and artificial intelligence to evaluate and store measurement data.

    Also, ZEISS is a market-leading technology business that serves the optical and optoelectronics sectors globally. Through its solutions, ZEISS is influencing technical development and broadening the scope of the optical industry and related fields. In May 2021, The United States partner for GOM 3D non-contact measuring solutions, Capture 3D, was acquired by ZEISS International. Customers of ZEISS International will benefit from a seamlessly integrated experience to receive the best measuring solutions for their particular requirements as a result of this purchase worldwide. Additionally, ZEISS International increased its commercial base in the United States by adopting this strategic approach.

    Key Companies in the Metrology Market market include

    Industry Developments

    August 2022: The latest Gocator 2600 Series of 4K+ resolution smart 3D laser line profile sensors have been officially released, according to LMI Technologies (LMI), a leading 3D scanning and inspection system provider. These factory-precalibrated sensors offer 4200 data points per profile for high-resolution 3D scanning and inspection across wide fields of view in applications like battery inspection, building materials, automotive, rubber and tire production, and general factory automation.

    March 2022: ETQ, a SaaS-based quality management system (QMS), environment, health and safety software, and compliance management software, has been acquired by Hexagon AB. The business will be a component of Manufacturing Intelligence at Hexagon. The data backbone for automating the collection and distribution of production quality control data, nonconformance reports, and customer feedback is provided by ETQ's multitenant QMS software, ETQ Reliance.

    Future Outlook

    Metrology Market Future Outlook

    The Global Metrology Market is projected to grow at a 5.68% CAGR from 2024 to 2035, driven by advancements in automation, quality control, and regulatory compliance.

    New opportunities lie in:

    • Invest in AI-driven metrology solutions to enhance precision and efficiency.
    • Develop portable metrology devices for on-site quality assurance in manufacturing.
    • Leverage IoT integration for real-time data analytics in metrology applications.

    By 2035, the Metrology Market is expected to be robust, reflecting substantial growth and innovation.

    Market Segmentation

    Metrology Product Outlook

    • Coordinate Measuring Machine (CMM)
    • Optical Digitizers And Scanners (ODS)
    • Video Measuring Machine (VMM)
    • Industrial Computed Tomography

    Metrology End User Outlook

    • Scientific & Research
    • Industrial
    • Others

    Metrology Regional Outlook

    North America
    • US
    • Canada

    Report Scope

    Attribute/Metric Details
    Market Size 2023 USD 10.7 billion
    Market Size 2024 USD 11.8 billion
    Market Size 2032 USD 18.4 billion
    Compound Annual Growth Rate (CAGR) 5.60% (2024-2032)
    Base Year 2023
    Market Forecast Period 2024-2032
    Historical Data 2018 & 2022
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Offering, Product, End User, and Region
    Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
    Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled Hexagon (Sweden), ZEISS (Germany), Bird (US), Solayl SAS (France), Telemark (US), Hiden Analytical Ltd (UK), PLASMA SENSORS (US), TEGAM Inc. (US), MKS Instruments (US), INFICON (Switzerland), ARIS Technology (US), Accurate (India)
    Key Market Opportunities Technology advancement
    Key Market Dynamics Rising demand in automotive sector

    Market Highlights

    Author
    Aarti Dhapte
    Team Lead - Research

    She holds an experience of about 6+ years in Market Research and Business Consulting, working under the spectrum of Information Communication Technology, Telecommunications and Semiconductor domains. Aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. Her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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    FAQs

    How much is the Metrology market?

    The Metrology market size was valued at USD 10.7 Billion in 2023.

    What is the growth rate of the Metrology market?

    The market is projected to grow at a CAGR of 5.60% during the forecast period, 2024-2032.

    Which region held the largest market share in the Metrology market?

    Asia-Pacific had the largest share in the market

    Who are the key players in the Metrology market?

    The key players in the market are Medtronic Inc (Ireland), Abbott Laboratories (US), Stryker Corporation (US), DePuy Synthes (US), and B. Braun Melsungen AG (Germany).

    Which Offering led the Metrology market?

    The hardware category dominated the market in 2021.

    Which end user had the largest market share in the Metrology market?

    The industrial had the largest share in the market.

    Metrology Market Research Report—Global Forecast till 2032 Infographic
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