Industrial Metrology Market

Industrial Metrology Market Size, Industry, Share, Growth & Analysis Report 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

Report Code: SE 6245 Feb, 2024, by marketsandmarkets.com

[314 Pages Report] 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 increasing demand for industrial metrology across sectors such as automotive, aerospace, defense, and manufacturing is a significant catalyst for this growth. Furthermore, the rising requirement for highly dependable and quality processes, coupled with the adoption of industrial metrology systems and electric vehicles, is fueling the market's expansion. Additionally, the uptake of industrial metrology solutions in the food industry, the integration of cloud services for managing metrological data, and the emergence of Industry 5.0 are also contributing factors driving the market's growth.

Industrial Metrology Market

Industrial Metrology Market

Industrial Metrology Market Forecast to 2029

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Industrial Metrology Market Dynamics

Integration of IoT sensors with industrial metrology for promoting evolution in smart manufacturing

The development of IoT sensors with industrial metrology promotes improved efficiency, real time monitoring and better data driven decision making in manufacturing processes. Through real-time monitoring, IoT sensors facilitate continuous data collection during manufacturing, offering immediate insights into product quality and performance. Thus, monitoring ensures the condition of metrology equipment, allowing for proactive maintenance measures and optimal functionality. The adoption of cloud-based solutions enhances accessibility, enabling remote management of measurement processes.  IoT sensors enable real-time monitoring of manufacturing process and equipment which provides continuous data and allows system to gather minute insights for better product quality and process performance. Present-day artificial intelligence (AI) models and their corresponding algorithms excel in efficiently managing and analyzing vast datasets, playing a crucial role in making pivotal decisions in manufacturing and remote/autonomous systems. Metrology measurements serve as essential infrastructure, enabling the acquisition of high-quality data and validating its accuracy, all while avoiding the confusion of unprocessed data. The soundness and confidence of these decisions rely heavily on the quality of the input data..

Restraint: Limited technical knowledge regarding integration of industrial metrology with robots and 3D models

Inspection and metrology are crucial components of quality control procedures. Effectively managing metrological systems necessitates proficiency in geometric and dimensional measurements, quality control analysis, production processes, equipment maintenance and repair, and technical testing. The level of expertise required varies depending on the industry and the nature of the products and components under analysis or inspection. Inadequate performance in these tasks can result in undesirable outcomes, as decisions regarding quality are based on accurate measurements and inspections. Moreover, inaccurate measurements and improper data evaluation can lead to unfavorable results. Technical proficiency is especially essential for operating 3D metrology equipment, which varies depending on the industry and the products and components being measured or inspected. However, there is a shortage of 3D metrology experts due to the limited availability of training centers or industry-specific certification courses. Employees in manufacturing companies who handle conventional CMMs often have limited technical knowledge about the technology.

Opportunity: Rise in demand for industry 5.0

Industry 5.0, also known as the smart factory, represents a new phase in the industrial revolution where manufacturing and information technology are closely linked, along with associated activities. This phase emphasizes enhanced collaboration between humans and machines, leveraging advanced technologies such as IoT and big data to improve efficiency and speed in manufacturing processes. The adoption of Industry 5.0 is expected to optimize operations across the entire value chain, from R&D to end-user stages. The emergence of smart factories has driven the increased demand for metrology systems. Integration of smart sensors and IoT devices is crucial for continuous process monitoring to maintain accuracy and promptly address deviations from quality standards. In Industry 5.0, there is a strong emphasis on customization and flexibility, allowing measurement systems to adapt to diverse production requirements, thus promoting adaptable and agile quality control procedures.

Challenge: Lack of data integrity and protection against cyber security

With the increasing connectivity of metrology systems, there are concerns related to the security of sensitive measurement data. The integration of metrology systems into interconnected networks poses challenges related to network security. Storing measurement data securely is paramount, especially when dealing with large volumes of sensitive information. Inadequate data storage security can lead to data breaches, unauthorized access, or tampering. As metrology systems integrate with IoT devices, it is essential to address the security of the entire ecosystem.

The Industrial Metrology Market Ecosystem

The prominent players in the industrial metrology market are Hexagon AB (Sweden), Nikon Corporation (Japan), FARO (US), Carl Zeiss AG (Germany), JENOPTIK (Germany), KLA Corporation (US). These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks.

Industrial Metrology Market by Ecosystem

Hardware offering to account for the largest share of the industrial metrology market in 2023.

The demand for hardware offerings in industrial metrology is steadily increasing for several reasons such as hardware offerings, including coordinate measuring machines (CMMs), optical digitizers and scanners (ODS), and X-ray & computed tomography systems, offer enhanced precision and accuracy in surface separations, thereby ensuring product quality. The growing adoption of 3D metrology equipment for quality control, coupled with the imperative for reliable and high-quality processes, is fueling the demand for hardware offerings in the industrial metrology market. Additionally, the rising need for automation further contributes to the growth of hardware offerings, as they play a vital role in supporting automated manufacturing processes.

CMM equipment to dominate industrial metrology market during the forecast period.

Coordinate measuring machines (CMMs) are extensively utilized in industrial metrology owing to their capacity to deliver precise and accurate measurements of parts and products, their seamless integration into smart manufacturing systems, and their versatility and automation capabilities. The incorporation of CMMs into smart manufacturing systems has rendered them indispensable for enhancing efficiency, flexibility, and quality in manufacturing processes. The widespread adoption of CMMs is also attributed to their capability to provide traceable and highly accurate measurements, establishing them as indispensable tools in the manufacturing industry.

Automotive industry to register the highest share industrial metrology market in 2023

Automotive manufacturers are progressively adopting 3D solutions and optical inspection techniques, providing substantial benefits to the automotive industry. These technologies enable production teams to utilize a 3D scanning solution at any point in the design process, including product development, design refinement, reverse engineering, and quality control and assurance. With the automotive sector demanding precision in manufacturing, even slight deviations from design specifications can yield significant consequences, underscoring the indispensable role of industrial metrology in conducting inspections, measurements, and quality checks on diverse components to ensure adherence to standards and specifications.

The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.

The Asia Pacific region is experiencing a notable uptick in the adoption of industrial metrology, propelled by several key factors. Rapid industrialization and manufacturing growth in countries like China, India, Japan, South Korea, and Taiwan are driving the demand for metrology solutions. As these nations continue to expand their manufacturing capacities across diverse industries such as automotive, aerospace, electronics, and medical devices, the necessity for precise measurement and inspection tools is amplified to ensure product quality and adherence to international standards.

Industrial Metrology Market
 by Region

Industrial Metrology Market by Region

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Key Market Players

The major players in the industrial metrology companies include 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). These companies have used organic and inorganic growth strategies, such as product launches, acquisitions, and partnerships, to strengthen their position in the market.

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Scope of the Report

Report Metric

Details

Estimated Industrial Metrology Market Size USD 14.9 billion
Projected Industrial Metrology Market Industry USD 20.6 billion
Industrial Metrology Market Growth Rate 6.7%

Market Size Availability for Years

2020–2029

Base Year

2023

Forecast Period

2024–2029

Forecast Units

Value (USD)

Segments Covered

By Offering, By Equipment, By Application, By End-user Industry

Geographies Covered

North America, Europe, Asia Pacific, and RoW

Companies Covered

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), AccuScan (Ireland), CARMAR ACCURACY CO., LTD. (Taiwan), Baker Hughes Company (US), CyberOptics (US), Cairnhill (Singapore), ATT Metrology Solutions (US), SGS Société Générale de Surveillance SA. (Switzerland), TriMet (US), Automated Precision Inc (API) (US), Applied Materials, Inc. (US), Perceptron, Inc. (US), Shining3D (China), Intertek Group plc (UK), Bruker (US), and Metrologic Group (France)

Industrial Metrology Market Highlights

This research report categorizes the Industrial Metrology Market based on offering, equipment, application, end-user industry, and region.

Segment

Subsegment

By Offering

  • Introduction
  • Hardware
  • Software
  • Services
    • After-Sales Services
    • Measurement Services
    • Storage-as-a-Service
    • Software-as-a-Service

By Equipment

  • Introduction
  • Coordinate Measuring Machine (CMM)
    • Fixed CMM
      • Bridge CMM
      • Gantry CMM
      • Horizontal arm CMM
      • Cantilever CMM
    • Portable CMM
      • Articulated arm CMM
  • Optical Digitizer and Scanner (ODS)
    • Laser Scanner and Structured Light Scanner
    • Laser Tracker
  • Measuring Instruments
    • Measuring Microscope
    • Profile Projector
    • Autocollimator
    • Multisensor Measuring Systems
    • Vision System
  • X-Ray and Computed Tomography
  • Automated Optical Inspection
  • Form Measurement Equipment
  • 2D Equipment

By Application

  • Introduction
  • Quality Control and Inspection
  • Reverse Engineering
  • Mapping and Modeling
  • Other Applications

By End-user Industry

  • Introduction
  • Aerospace & Defense
  • Automotive
  • Semiconductors
  • Manufacturing
  • Other End-user Industries

By Region

  • Introduction
  • North America
    • Impact of Recession
    • US
    • Canada
    • Mexico
  • Europe
    • Impact of Recession
    • UK
    • Germany
    • France
    • Rest of the Europe
  • Asia Pacific
    • Impact of Recession
    • China
    • Japan
    • South Korea
    • India
    • Rest of Asia Pacific
  • ROW
    • Impact of Recession
    • Middle East & Africa
      • GCC
      • Rest of MEA
  • South America

Recent Developments

  • In November 2023, Carl Zeiss AG released ZEISS INSPECT 3D a metrology software, which offers its industrial quality solutions with numerous new functions. ZEISS INSPECT Optical 3D is the solution for the inspection and evaluation of 3D measurement data. It also includes CT-based quality inspection in addition to optical inspection.
  • In October 2023, Hexagon's Manufacturing Intelligence division has introduced the HP-L-10.10 LITE laser scanner for Coordinate Measuring Machines (CMMs), catering to manufacturers seeking a cost-effective solution for streamlined surface measurement and increased throughput. Focused on core laser scanning functions, this new scanner simplifies and makes laser scanning more affordable, allowing manufacturers to leverage the speed and coverage advantages of laser scanning. In comparison to tactile measurement methods that involve measuring numerous points or lines, the scanner swiftly captures the complete surface data of a part, significantly reducing measurement time.
  • In September 2023, KEYENCE CORPORATION launched LJ-X8000 Series holds the target shape in high resolution, enabling accurate inline measurements.
  • In June 2023, FARO revealed a strategic collaboration with HOLOGATE's enterprise division HGXR, creators of advanced extended reality (XR) solutions for training and simulation. This collaboration will facilitate the incorporation of cutting-edge FARO digital scanning technology into HGXR systems, opening avenues for utilizing 3D metrology within a virtual reality setting.
  • In April 2023, Nikon Corporation's Industrial Metrology Business Unit (IMBU) introduced the first in a groundbreaking series of high-performance X-ray CT (computed tomography) systems. With its large-volume capacity, this system can inspect items of varied size and density, both internally and externally, making it versatile across industry, inspection bureaux, and academia.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 34)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 INDUSTRIAL METROLOGY MARKET: SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 INCLUSIONS AND EXCLUSIONS
           1.3.4 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 VOLUME UNITS CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
    1.9 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 40)
    2.1 RESEARCH DATA 
           FIGURE 2 INDUSTRIAL METROLOGY MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
           2.1.2 SECONDARY DATA
                    2.1.2.1 Key data from secondary sources
                    2.1.2.2 List of key secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Primary interviews with experts
                    2.1.3.2 List of key primary interview participants
                    2.1.3.3 Key data from primary sources
                    2.1.3.4 Key industry insights
                    2.1.3.5 Breakdown of primaries
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach to estimate market size using bottom-up analysis (demand side)
                               FIGURE 3 INDUSTRIAL METROLOGY MARKET: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach to estimate market size using top-down analysis (supply side)
                               FIGURE 4 INDUSTRIAL METROLOGY MARKET: TOP-DOWN APPROACH
    2.3 DATA TRIANGULATION 
           FIGURE 6 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
           2.4.1 GROWTH PROJECTION AND FORECAST-RELATED ASSUMPTIONS
                    TABLE 1 INDUSTRIAL METROLOGY MARKET: MARKET GROWTH ASSUMPTIONS
    2.5 RESEARCH LIMITATIONS 
    2.6 RISK ASSESSMENTS 
    2.7 IMPACT OF RECESSION ON INDUSTRIAL METROLOGY MARKET 
 
3 EXECUTIVE SUMMARY (Page No. - 51)
    FIGURE 7 INDUSTRIAL METROLOGY MARKET, 2020–2029
    FIGURE 8 SERVICES SEGMENT TO REGISTER HIGHEST CAGR FROM 2024 TO 2029
    FIGURE 9 QUALITY CONTROL & INSPECTION TO BE FASTEST-GROWING SEGMENT IN INDUSTRIAL METROLOGY MARKET DURING FORECAST PERIOD
    FIGURE 10 CMM SEGMENT TO HOLD LARGEST SHARE OF INDUSTRIAL METROLOGY MARKET IN 2029
    FIGURE 11 AUTOMOTIVE SEGMENT TO DOMINATE INDUSTRIAL METROLOGY MARKET DURING FORECAST PERIOD
    FIGURE 12 NORTH AMERICA HELD LARGEST SHARE OF INDUSTRIAL METROLOGY MARKET IN 2023
 
4 PREMIUM INSIGHTS (Page No. - 56)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN INDUSTRIAL METROLOGY MARKET 
           FIGURE 13 INCREASING ADOPTION OF INDUSTRIAL METROLOGY PRODUCTS IN ASIA PACIFIC TO DRIVE MARKET
    4.2 INDUSTRIAL METROLOGY MARKET, BY OFFERING 
           FIGURE 14 HARDWARE SEGMENT TO DOMINATE INDUSTRIAL METROLOGY MARKET IN 2029
    4.3 INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT AND END-USER INDUSTRY 
           FIGURE 15 CMM AND AUTOMOTIVE SEGMENTS HELD LARGER SHARES OF INDUSTRIAL METROLOGY MARKET IN 2023
    4.4 INDUSTRIAL METROLOGY MARKET, BY APPLICATION 
           FIGURE 16 QUALITY CONTROL & INSPECTION SEGMENT TO HOLD LARGEST SHARE OF INDUSTRIAL METROLOGY MARKET FROM 2024 TO 2029
    4.5 INDUSTRIAL METROLOGY MARKET, BY REGION 
           FIGURE 17 ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 59)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 18 INDUSTRIAL METROLOGY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing R&D investments in 3D metrology
                    5.2.1.2 Growing emphasis on promoting smart manufacturing with integration of IoT sensors into industrial metrology solutions
                    5.2.1.3 Rising focus on quality control and adoption of inspection equipment in precision manufacturing
                    5.2.1.4 Increasing demand for automobiles in emerging economies
                               FIGURE 19 GLOBAL ELECTRIC CAR SALES, 2020–2022
                               FIGURE 20 IMPACT ANALYSIS OF DRIVERS ON INDUSTRIAL METROLOGY MARKET
           5.2.2 RESTRAINTS
                    5.2.2.1 Limited technical knowledge regarding integration of industrial metrology with robots and 3D models
                    5.2.2.2 Complexities associated with integration of industrial metrology products into existing manufacturing units
                               FIGURE 21 IMPACT ANALYSIS OF RESTRAINTS ON INDUSTRIAL METROLOGY MARKET
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing use of industrial metrology products in food industry
                    5.2.3.2 Growing use of cloud-based, IIoT, and AI technologies to store and manage metrological data
                    5.2.3.3 Rising demand for Industry 5.0
                               FIGURE 22 IMPACT ANALYSIS OF OPPORTUNITIES ON INDUSTRIAL METROLOGY MARKET
           5.2.4 CHALLENGES
                    5.2.4.1 Ensuring data integrity and protection against cyber security
                    5.2.4.2 Shortage of easy-to-use metrology software solutions
                               FIGURE 23 IMPACT ANALYSIS OF CHALLENGES ON INDUSTRIAL METROLOGY MARKET
    5.3 SUPPPLY CHAIN ANALYSIS 
           FIGURE 24 INDUSTRIAL METROLOGY MARKET: SUPPLY CHAIN ANALYSIS
    5.4 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 2 INDUSTRIAL METROLOGY MARKET: PORTER’S FIVE FORCES ANALYSIS
           FIGURE 25 INDUSTRIAL METROLOGY MARKET: PORTER’S FIVE FORCES ANALYSIS
           FIGURE 26 IMPACT OF PORTER’S FIVE FORCES ANALYSIS ON INDUSTRIAL METROLOGY MARKET
           5.4.1 INTENSITY OF COMPETITIVE RIVALRY
           5.4.2 BARGAINING POWER OF SUPPLIERS
           5.4.3 BARGAINING POWER OF BUYERS
           5.4.4 THREAT OF NEW ENTRANTS
           5.4.5 THREAT OF SUBSTITUTES
    5.5 INVESTMENT AND FUNDING SCENARIO 
           FIGURE 27 INVESTMENT AND FUNDING SCENARIO
    5.6 PRICING ANALYSIS 
           5.6.1 AVERAGE SELLING PRICE OF INDUSTRIAL METROLOGY EQUIPMENT
                    FIGURE 28 INDUSTRIAL METROLOGY MARKET: AVERAGE SELLING PRICE, BY EQUIPMENT
           5.6.2 INDICATIVE PRICING ANALYSIS OF PRODUCTS OFFERED BY KEY PLAYERS, BY EQUIPMENT
                    TABLE 3 INDUSTRIAL METROLOGY MARKET: INDICATIVE PRICING ANALYSIS OF PRODUCTS OFFERED BY KEY PLAYERS, BY EQUIPMENT, 2023 (USD)
           5.6.3 INDICATIVE PRICING ANALYSIS OF CMM, BY REGION
                    TABLE 4 INDUSTRIAL METROLOGY MARKET: INDICATIVE PRICING ANALYSIS OF CMM, BY REGION, 2020–2023 (USD)
    5.7 TRADE ANALYSIS 
           FIGURE 29 IMPORT DATA FOR HS CODE 903180-COMPLIANT PRODUCTS FOR MAJOR COUNTRIES, 2018–2022
           TABLE 5 IMPORT VALUES FOR HS CODE 903180-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
           FIGURE 30 EXPORT DATA FOR HS CODE 903180-COMPLIANT PRODUCTS FOR MAJOR COUNTRIES, 2018–2022
           TABLE 6 EXPORT VALUES FOR HS CODE 903180-COMPLIANT PRODUCTS, BY COUNTRY, 2018–2022 (USD MILLION)
    5.8 ECOSYSTEM ANALYSIS 
           FIGURE 31 INDUSTRIAL METROLOGY MARKET: ECOSYSTEM ANALYSIS
           TABLE 7 ROLE OF PLAYERS IN INDUSTRIAL METROLOGY ECOSYSTEM
    5.9 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
           FIGURE 32 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
    5.1 CASE STUDY ANALYSIS 
           5.10.1 RENISHAW CALIBRATOR REDUCED TIME TO MEASURE VOLUMETRIC PRECISION ERRORS
           5.10.2 HEXAGON’S INDUSTRIAL METROLOGY PRODUCTS USED TO CREATE 3D PRINTED REPLICA OF MICHELANGELO’S DAVID SCULPTURE
           5.10.3 ALLOY SPECIALTIES IMPROVED PRODUCTION CAPACITY BY DEPLOYING HEXAGON PRODUCTS
           5.10.4 KAWASAKI REDUCED DAILY INSPECTION TIME OF AUTO PARTS USING RENISHAW’S REVO 5-AXIS SYSTEMS
           5.10.5 DAWN MACHINERY INCREASED CUSTOM MACHINE TOOL PRODUCTION EFFICIENCY BY DEPLOYING RENISHAW’S ALIGNMENT LASER SYSTEM
           5.10.6 FORD MOTOR COMPANY ESTABLISHED DEPENDABLE SYSTEM TO MONITOR GEAR SURFACE PROCESSING
    5.11 PATENT ANALYSIS 
           TABLE 8 LIST OF MAJOR PATENTS IN INDUSTRIAL METROLOGY MARKET
           FIGURE 33 NUMBER OF PATENTS GRANTED PERTAINING TO INDUSTRIAL METROLOGY, 2014–2023
    5.12 TECHNOLOGY TRENDS 
           5.12.1 HIGH PREFERENCE FOR CMOS TECHNOLOGY IN INDUSTRIAL MACHINES
           5.12.2 EMERGENCE OF MOBILE/PORTABLE VISION SYSTEMS
           5.12.3 COMBINATION OF CMM WITH INDUSTRIAL INTERNET OF THINGS (IIOT)
           5.12.4 DEPLOYMENT OF SMART IN-LINE CT INSPECTION SYSTEMS IN MANUFACTURING LINES
           5.12.5 USE OF ARTIFICIAL INTELLIGENCE IN INDUSTRIAL METROLOGY
           5.12.6 IMPLEMENTATION OF 3D MEASUREMENT SENSORS FOR IN-LINE MEASUREMENTS
           5.12.7 UTILIZATION OF VIDEO MEASUREMENT SYSTEMS FOR PRECISION MEASUREMENT APPLICATIONS
           5.12.8 INTEGRATION OF ROBOTICS INTO INDUSTRIAL METROLOGY SOLUTIONS
    5.13 TARIFF AND REGULATORY LANDSCAPE 
           5.13.1 TARIFFS
                    TABLE 9 MFN TARIFFS FOR HS CODE 903180-COMPLIANT PRODUCTS EXPORTED BY CHINA
           5.13.2 STANDARDS
           5.13.3 REGULATIONS
                    5.13.3.1 Regulatory bodies, government agencies, and other organizations
                                TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                                TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                                TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    5.13.3.2 Paris Agreement
                    5.13.3.3 General Data Protection Regulation (GDPR)
                    5.13.3.4 Import–export laws
    5.14 KEY CONFERENCES AND EVENTS 
           TABLE 13 INDUSTRIAL METROLOGY MARKET: LIST OF CONFERENCES AND EVENTS, 2024
    5.15 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.15.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 34 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END-USER INDUSTRY
                    TABLE 14 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USER INDUSTRIES (%)
           5.15.2 BUYING CRITERIA
                    FIGURE 35 KEY BUYING CRITERIA FOR TOP THREE END-USER INDUSTRIES
                    TABLE 15 KEY BUYING CRITERIA FOR TOP THREE END-USER INDUSTRIES
 
6 INDUSTRIAL METROLOGY MARKET, BY OFFERING (Page No. - 94)
    6.1 INTRODUCTION 
           FIGURE 36 INDUSTRIAL METROLOGY MARKET, BY OFFERING
           FIGURE 37 HARDWARE SEGMENT TO ACCOUNT FOR LARGEST SHARE OF INDUSTRIAL METROLOGY MARKET IN 2029
           TABLE 16 INDUSTRIAL METROLOGY MARKET, BY OFFERING, 2020–2023 (USD BILLION)
           TABLE 17 INDUSTRIAL METROLOGY MARKET, BY OFFERING, 2024–2029 (USD BILLION)
    6.2 HARDWARE 
           6.2.1 RISING DEMAND FOR QUALITY ASSURANCE AND INSPECTION SERVICES ACROSS VARIOUS INDUSTRIES TO FOSTER MARKET GROWTH
    6.3 SOFTWARE 
           6.3.1 INCREASING ADOPTION OF CLOUD-BASED METROLOGY SOFTWARE TO FUEL MARKET GROWTH
    6.4 SERVICES 
           6.4.1 AFTER-SALES SERVICES
                    6.4.1.1 Need for regular system upgrades to boost demand
           6.4.2 MEASUREMENT SERVICES
                    6.4.2.1 Growing demand for Measurement Consultation and Cost and Time Reduction Evaluation Services to accelerate market growth
           6.4.3 STORAGE-AS-A-SERVICE
                    6.4.3.1 Increasing focus of companies on achieving cost efficiency to boost adoption
           6.4.4 SOFTWARE-AS-A-SERVICE
                    6.4.4.1 Surging use of cloud-based metrology services to contribute to segmental growth
 
7 INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT (Page No. - 102)
    7.1 INTRODUCTION 
           FIGURE 38 ODS SEGMENT TO REGISTER HIGHEST CAGR IN INDUSTRIAL METROLOGY MARKET DURING FORECAST PERIOD
           TABLE 18 INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2020–2023 (USD MILLION)
           TABLE 19 INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2024–2029 (USD MILLION)
           TABLE 20 INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2020–2023 (THOUSAND UNITS)
           TABLE 21 INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2024–2029 (THOUSAND UNITS)
    7.2 COORDINATE MEASURING MACHINE (CMM) 
           TABLE 22 COORDINATE MEASURING MACHINE: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT TYPE, 2020–2023 (USD MILLION)
           TABLE 23 COORDINATE MEASURING MACHINE: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT TYPE, 2024–2029 (USD MILLION)
           TABLE 24 COORDINATE MEASURING MACHINE: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
           TABLE 25 COORDINATE MEASURING MACHINE: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
           7.2.1 FIXED CMM
                    7.2.1.1 Bridge CMM
                               7.2.1.1.1 Excellent rigidity and higher accuracy than horizontal arm CMMs to drive market
                    7.2.1.2 Gantry CMM
                               7.2.1.2.1 Significant use in measuring large objects to contribute to market growth
                    7.2.1.3 Horizontal arm CMM
                               7.2.1.3.1 Ability to measure large workpieces and inaccessible parts to fuel market growth
                    7.2.1.4 Cantilever CMM
                               7.2.1.4.1 Proficiency in measuring small parts with greater accuracy to propel market
           7.2.2 PORTABLE CMM
                    7.2.2.1 Articulated arm CMM
                               7.2.2.1.1 Advantages such as quick and accurate inspection of any object to boost segmental growth
    7.3 OPTICAL DIGITIZER AND SCANNER (ODS) 
           TABLE 26 OPTICAL DIGITIZER & SCANNER: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT TYPE, 2020–2023 (USD MILLION)
           TABLE 27 OPTICAL DIGITIZER & SCANNER: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT TYPE, 2024–2029 (USD MILLION)
           TABLE 28 OPTICAL DIGITIZER & SCANNER: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
           TABLE 29 OPTICAL DIGITIZER & SCANNER: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
           7.3.1 LASER SCANNER AND STRUCTURED LIGHT SCANNER
                    7.3.1.1 Properties such as fast and non-contact scanning to provide exact coordinates of the scanned object to drive market
           7.3.2 LASER TRACKER
                    7.3.2.1 Competency in measuring large objects to support market growth
    7.4 MEASURING INSTRUMENT 
           TABLE 30 MEASURING INSTRUMENT: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
           TABLE 31 MEASURING INSTRUMENT: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
           7.4.1 MEASURING MICROSCOPE
                    7.4.1.1 Growing demand for precision measurement by industrial manufacturing firms to drive market
           7.4.2 PROFILE PROJECTOR
                    7.4.2.1 Increasing use in two-dimensional measurements to contribute to market growth
           7.4.3 AUTOCOLLIMATOR
                    7.4.3.1 Rising deployment in measuring small angular differences to propel segmental growth
           7.4.4 VISION SYSTEM
                    7.4.4.1 Rapid transition toward digital cameras and advanced image processing techniques to boost market growth
           7.4.5 MULTISENSOR MEASURING SYSTEM
                    7.4.5.1 Suitability for use in hard-to-reach areas to drive market
    7.5 X-RAY AND COMPUTED TOMOGRAPHY (CT) EQUIPMENT 
           7.5.1 INCREASING USE TO DETECT VOIDS AND CRACKS AND ANALYZE PARTICLES IN MATERIALS TO PROPEL MARKET
                    TABLE 32 X-RAY & COMPUTED TOMOGRAPHY EQUIPMENT: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                    TABLE 33 X-RAY & COMPUTED TOMOGRAPHY EQUIPMENT: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
    7.6 AUTOMATED OPTICAL INSPECTION (AOI) EQUIPMENT 
           7.6.1 EXTENSIVE USE IN SCANNING PCBS FOR CATASTROPHIC FAILURE AND QUALITY DEFECTS TO CONTRIBUTE TO MARKET GROWTH
                    TABLE 34 AUTOMATED OPTICAL INSPECTION EQUIPMENT: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                    TABLE 35 AUTOMATED OPTICAL INSPECTION EQUIPMENT: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
    7.7 FORM MEASUREMENT EQUIPMENT 
           7.7.1 GROWING ADOPTION IN SURFACE ANALYSIS AND CONTOUR MEASUREMENT TO FUEL MARKET GROWTH
                    TABLE 36 FORM MEASUREMENT EQUIPMENT: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                    TABLE 37 FORM MEASUREMENT EQUIPMENT: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
    7.8 2D EQUIPMENT 
           7.8.1 RISING FOCUS OF MECHANICAL ENGINEERS ON PRECISE MEASUREMENT TO DRIVE MARKET
                    TABLE 38 2D EQUIPMENT: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT TYPE, 2020–2023 (USD MILLION)
                    TABLE 39 2D EQUIPMENT: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT TYPE, 2024–2029 (USD MILLION)
                    TABLE 40 2D EQUIPMENT: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                    TABLE 41 2D EQUIPMENT: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
 
8 INDUSTRIAL METROLOGY MARKET, BY APPLICATION (Page No. - 123)
    8.1 INTRODUCTION 
           FIGURE 39 INDUSTRIAL METROLOGY MARKET, BY APPLICATION
           FIGURE 40 QUALITY CONTROL & INSPECTION SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 42 INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
           TABLE 43 INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
    8.2 QUALITY CONTROL & INSPECTION 
           8.2.1 NEED TO IDENTIFY DEFECTIVE PARTS AND MAINTAIN STRICT QUALITY STANDARDS TO DRIVE MARKET
                    TABLE 44 QUALITY CONTROL & INSPECTION: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                    TABLE 45 QUALITY CONTROL & INSPECTION: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
    8.3 REVERSE ENGINEERING 
           8.3.1 HIGH ADOPTION IN AUTOMOTIVE AND AEROSPACE & DEFENSE INDUSTRIES TO PROPEL MARKET
                    TABLE 46 REVERSE ENGINEERING: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                    TABLE 47 REVERSE ENGINEERING: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
    8.4 MAPPING & MODELING 
           8.4.1 REQUIREMENT FOR VISUALIZATION AND CONSTRUCTION OF PROTOTYPE PRODUCTS TO DRIVE MARKET
                    TABLE 48 MAPPING & MODELING: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                    TABLE 49 MAPPING & MODELING: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
    8.5 OTHER APPLICATIONS 
           TABLE 50 OTHER APPLICATIONS: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
           TABLE 51 OTHER APPLICATIONS: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
 
9 INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY (Page No. - 133)
    9.1 INTRODUCTION 
           FIGURE 41 INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY
           FIGURE 42 AUTOMOTIVE SEGMENT TO HOLD LARGEST SIZE OF INDUSTRIAL METROLOGY MARKET IN 2029
           TABLE 52 INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
           TABLE 53 INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
    9.2 AEROSPACE & DEFENSE 
           9.2.1 INCREASING USE OF METROLOGY IN AIRCRAFT MANUFACTURING AND ASSEMBLY TO DRIVE MARKET
                    TABLE 54 AEROSPACE & DEFENSE: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2020–2023 (USD MILLION)
                    TABLE 55 AEROSPACE & DEFENSE: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2024–2029 (USD MILLION)
                    TABLE 56 AEROSPACE & DEFENSE: INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                    TABLE 57 AEROSPACE & DEFENSE: INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
                    TABLE 58 AEROSPACE & DEFENSE: INDUSTRIAL METROLOGY MARKET, BY REGION, 2020–2023 (USD MILLION)
                    TABLE 59 AEROSPACE & DEFENSE: INDUSTRIAL METROLOGY MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.3 AUTOMOTIVE 
           9.3.1 GROWING ADOPTION OF METROLOGY PRODUCTS TO ENSURE PRECISION AND QUALITY IN AUTOMOBILE MANUFACTURING TO PROPEL MARKET
                    TABLE 60 AUTOMOTIVE: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2020–2023 (USD MILLION)
                    TABLE 61 AUTOMOTIVE: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2024–2029 (USD MILLION)
                    TABLE 62 AUTOMOTIVE: INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                    TABLE 63 AUTOMOTIVE: INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
                    TABLE 64 AUTOMOTIVE: INDUSTRIAL METROLOGY MARKET, BY REGION, 2020–2023 (USD MILLION)
                    TABLE 65 AUTOMOTIVE: INDUSTRIAL METROLOGY MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.4 SEMICONDUCTORS 
           9.4.1 SURGING DEMAND FOR MINIATURIZED PRODUCTS WITH HIGH ACCURACY, PRECISION, AND THROUGHPUT TO CREATE OPPORTUNITIES
                    TABLE 66 SEMICONDUCTORS: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2020–2023 (USD MILLION)
                    TABLE 67 SEMICONDUCTORS: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2024–2029 (USD MILLION)
                    TABLE 68 SEMICONDUCTORS: INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                    TABLE 69 SEMICONDUCTORS: INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
                    TABLE 70 SEMICONDUCTORS: INDUSTRIAL METROLOGY MARKET, BY REGION, 2020–2023 (USD MILLION)
                    TABLE 71 SEMICONDUCTORS: INDUSTRIAL METROLOGY MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.5 MANUFACTURING 
           9.5.1 RISING FOCUS OF MANUFACTURING FIRMS ON REDUCING TIME-CONSUMING MANUAL MEASUREMENT TASKS TO BOOST DEMAND
                    TABLE 72 MANUFACTURING: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2020–2023 (USD MILLION)
                    TABLE 73 MANUFACTURING: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2024–2029 (USD MILLION)
                    TABLE 74 MANUFACTURING: INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
                    TABLE 75 MANUFACTURING: INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
                    TABLE 76 MANUFACTURING: INDUSTRIAL METROLOGY MARKET, BY REGION, 2020–2023 (USD MILLION)
                    TABLE 77 MANUFACTURING: INDUSTRIAL METROLOGY MARKET, BY REGION, 2024–2029 (USD MILLION)
    9.6 OTHER END-USER INDUSTRIES 
           TABLE 78 OTHER END-USER INDUSTRIES: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2020–2023 (USD MILLION)
           TABLE 79 OTHER END-USER INDUSTRIES: INDUSTRIAL METROLOGY MARKET, BY EQUIPMENT, 2024–2029 (USD MILLION)
           TABLE 80 OTHER END-USER INDUSTRIES: INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2020–2023 (USD MILLION)
           TABLE 81 OTHER END-USER INDUSTRIES: INDUSTRIAL METROLOGY MARKET, BY APPLICATION, 2024–2029 (USD MILLION)
           TABLE 82 OTHER END-USER INDUSTRIES: INDUSTRIAL METROLOGY MARKET, BY REGION, 2020–2023 (USD MILLION)
           TABLE 83 OTHER END-USER INDUSTRIES: INDUSTRIAL METROLOGY MARKET, BY REGION, 2024–2029 (USD MILLION)
 
10 INDUSTRIAL METROLOGY MARKET, BY REGION (Page No. - 153)
     10.1 INTRODUCTION 
             FIGURE 43 INDUSTRIAL METROLOGY MARKET, BY REGION
             FIGURE 44 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR IN INDUSTRIAL METROLOGY MARKET DURING FORECAST PERIOD
             TABLE 84 INDUSTRIAL METROLOGY MARKET, BY REGION, 2020–2023 (USD BILLION)
             TABLE 85 INDUSTRIAL METROLOGY MARKET, BY REGION, 2024–2029 (USD BILLION)
     10.2 NORTH AMERICA 
             FIGURE 45 NORTH AMERICA: INDUSTRIAL METROLOGY MARKET SNAPSHOT
             TABLE 86 NORTH AMERICA: INDUSTRIAL METROLOGY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
             TABLE 87 NORTH AMERICA: INDUSTRIAL METROLOGY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             TABLE 88 NORTH AMERICA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
             TABLE 89 NORTH AMERICA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.2.1 IMPACT OF RECESSION ON INDUSTRIAL METROLOGY MARKET IN NORTH AMERICA
             10.2.2 US
                        10.2.2.1 Rapid adoption of electric vehicles to drive market
                                     TABLE 90 US: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 91 US: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.2.3 CANADA
                        10.2.3.1 Presence of automotive assembly plants to support market growth
                                     TABLE 92 CANADA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 93 CANADA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.2.4 MEXICO
                        10.2.4.1 Strong manufacturing base to fuel demand for metrology products
                                     TABLE 94 MEXICO: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 95 MEXICO: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
     10.3 EUROPE 
             FIGURE 46 EUROPE: INDUSTRIAL METROLOGY MARKET SNAPSHOT
             TABLE 96 EUROPE: INDUSTRIAL METROLOGY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
             TABLE 97 EUROPE: INDUSTRIAL METROLOGY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             TABLE 98 EUROPE: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
             TABLE 99 EUROPE: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.3.1 IMPACT OF RECESSION ON INDUSTRIAL METROLOGY MARKET IN EUROPE
             10.3.2 GERMANY
                        10.3.2.1 Digitalization of manufacturing industry to increase resource efficiency and industrial output to contribute to market growth
                                     TABLE 100 GERMANY: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 101 GERMANY: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.3.3 UK
                        10.3.3.1 Increasing demand from aerospace industry to augment market growth
                                     TABLE 102 UK: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 103 UK: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.3.4 FRANCE
                        10.3.4.1 High demand from automotive industry to fuel market growth
                                     TABLE 104 FRANCE: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 105 FRANCE: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.3.5 ITALY
                        10.3.5.1 Rising automobile production to generate demand for metrology solutions
                                     TABLE 106 ITALY: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 107 ITALY: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.3.6 SPAIN
                        10.3.6.1 High demand for industrial vehicles to drive market
                                     TABLE 108 SPAIN: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 109 SPAIN: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.3.7 REST OF EUROPE
                        TABLE 110 REST OF EUROPE: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 111 REST OF EUROPE: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
     10.4 ASIA PACIFIC 
             FIGURE 47 ASIA PACIFIC: INDUSTRIAL METROLOGY MARKET SNAPSHOT
             TABLE 112 ASIA PACIFIC: INDUSTRIAL METROLOGY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
             TABLE 113 ASIA PACIFIC: INDUSTRIAL METROLOGY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             TABLE 114 ASIA PACIFIC: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
             TABLE 115 ASIA PACIFIC: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.4.1 IMPACT OF RECESSION ON INDUSTRIAL METROLOGY MARKET IN ASIA PACIFIC
             10.4.2 CHINA
                        10.4.2.1 Substantial investments by government in aviation sector to contribute to market growth
                                     TABLE 116 CHINA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 117 CHINA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.4.3 JAPAN
                        10.4.3.1 High demand for quality control and inspection services to boost market growth
                                     TABLE 118 JAPAN: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 119 JAPAN: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.4.4 SOUTH KOREA
                        10.4.4.1 Aerospace & defense and automotive sectors to be major contributors to market growth
                                     TABLE 120 SOUTH KOREA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 121 SOUTH KOREA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.4.5 INDIA
                        10.4.5.1 Rising demand from manufacturing sector to offer immense market growth potential
                                     TABLE 122 INDIA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 123 INDIA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.4.6 REST OF ASIA PACIFIC
                        TABLE 124 REST OF ASIA PACIFIC: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                        TABLE 125 REST OF ASIA PACIFIC: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
     10.5 ROW 
             TABLE 126 ROW: INDUSTRIAL METROLOGY MARKET, BY REGION, 2020–2023 (USD MILLION)
             TABLE 127 ROW: INDUSTRIAL METROLOGY MARKET, BY REGION, 2024–2029 (USD MILLION)
             TABLE 128 ROW: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
             TABLE 129 ROW: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
             10.5.1 IMPACT OF RECESSION ON INDUSTRIAL METROLOGY MARKET IN ROW
             10.5.2 MIDDLE EAST & AFRICA
                        10.5.2.1 Aerospace and manufacturing sectors to contribute most to market growth
                        10.5.2.2 GCC countries
                        10.5.2.3 Rest of Middle East & Africa
                                     TABLE 130 MIDDLE EAST & AFRICA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 131 MIDDLE EAST & AFRICA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
                                     TABLE 132 MIDDLE EAST & AFRICA: INDUSTRIAL METROLOGY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)
                                     TABLE 133 MIDDLE EAST & AFRICA: INDUSTRIAL METROLOGY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)
             10.5.3 SOUTH AMERICA
                        10.5.3.1 High demand from Brazil, Chile, and Argentina to propel market
                                     TABLE 134 SOUTH AMERICA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2020–2023 (USD MILLION)
                                     TABLE 135 SOUTH AMERICA: INDUSTRIAL METROLOGY MARKET, BY END-USER INDUSTRY, 2024–2029 (USD MILLION)
 
11 COMPETITIVE LANDSCAPE (Page No. - 191)
     11.1 OVERVIEW 
     11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 
             TABLE 136 OVERVIEW OF STRATEGIES DEPLOYED BY KEY MARKET PLAYERS
             11.2.1 PRODUCT PORTFOLIO
             11.2.2 REGIONAL FOCUS
             11.2.3 MANUFACTURING FOOTPRINT
             11.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES
     11.3 MARKET SHARE ANALYSIS, 2023 
             FIGURE 48 INDUSTRIAL METROLOGY MARKET SHARE ANALYSIS, 2023
             TABLE 137 INDUSTRIAL METROLOGY MARKET: DEGREE OF COMPETITION, 2023
     11.4 COMPANY REVENUE ANALYSIS, 2019–2023 
             FIGURE 49 REVENUE ANALYSIS OF TOP FIVE PLAYERS IN INDUSTRIAL METROLOGY MARKET, 2019–2023
     11.5 MARKET CAPITALIZATION AND FINANCIAL METRICS 
             11.5.1 INDUSTRIAL METROLOGY MARKET: MARKET CAPITALIZATION
                        FIGURE 50 MARKET CAPITALIZATION
             11.5.2 INDUSTRIAL METROLOGY MARKET: FINANCIAL METRICS
                        FIGURE 51 FINANCIAL METRICS
     11.6 BRAND/PRODUCT COMPARISON 
           FIGURE 52 BRAND COMPARISON
     11.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
             11.7.1 STARS
             11.7.2 EMERGING LEADERS
             11.7.3 PERVASIVE PLAYERS
             11.7.4 PARTICIPANTS
                        FIGURE 53 INDUSTRIAL METROLOGY MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023
             11.7.5 COMPANY FOOTPRINT: KEY PLAYERS
                        11.7.5.1 Overall company footprint
                        11.7.5.2 Company end-user industry footprint
                        11.7.5.3 Company application footprint
                        11.7.5.4 Company region footprint
     11.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 
             11.8.1 PROGRESSIVE COMPANIES
             11.8.2 RESPONSIVE COMPANIES
             11.8.3 DYNAMIC COMPANIES
             11.8.4 STARTING BLOCKS
                        FIGURE 54 INDUSTRIAL METROLOGY MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023
             11.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
                        11.8.5.1 Industrial metrology market: List of key startups/SMEs
                        11.8.5.2 Industrial metrology market: Competitive benchmarking of key startups/SMEs
     11.9 COMPETITIVE SCENARIOS AND TRENDS 
             11.9.1 PRODUCT LAUNCHES
                        TABLE 138 INDUSTRIAL METROLOGY MARKET: PRODUCT LAUNCHES, JANUARY 2020–DECEMBER 2023
             11.9.2 DEALS
                        TABLE 139 INDUSTRIAL METROLOGY MARKET: DEALS, JANUARY 2020–DECEMBER 2023
 
12 COMPANY PROFILES (Page No. - 225)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*  
     12.1 KEY PLAYERS 
             12.1.1 HEXAGON AB
                        TABLE 140 HEXAGON AB: COMPANY OVERVIEW
                        FIGURE 55 HEXAGON AB: COMPANY SNAPSHOT
                        TABLE 141 HEXAGON AB: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 142 HEXAGON AB: PRODUCT LAUNCHES
                        TABLE 143 HEXAGON AB: DEALS
             12.1.2 NIKON CORPORATION
                        TABLE 144 NIKON CORPORATION: COMPANY OVERVIEW
                        FIGURE 56 NIKON CORPORATION: COMPANY SNAPSHOT
                        TABLE 145 NIKON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 146 NIKON CORPORATION: PRODUCT LAUNCHES
                        TABLE 147 NIKON CORPORATION: DEALS
             12.1.3 FARO
                        TABLE 148 FARO: COMPANY OVERVIEW
                        FIGURE 57 FARO: COMPANY SNAPSHOT
                        TABLE 149 FARO: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 150 FARO: PRODUCT LAUNCHES
                        TABLE 151 FARO: DEALS
             12.1.4 CARL ZEISS AG
                        TABLE 152 CARL ZEISS AG: COMPANY OVERVIEW
                        FIGURE 58 CARL ZEISS AG: COMPANY SNAPSHOT
                        TABLE 153 CARL ZEISS AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 154 CARL ZEISS AG: PRODUCT LAUNCHES
                        TABLE 155 CARL ZEISS AG: DEALS
             12.1.5 KEYENCE CORPORATION
                        TABLE 156 KEYENCE CORPORATION: COMPANY OVERVIEW
                        FIGURE 59 KEYENCE CORPORATION: COMPANY SNAPSHOT
                        TABLE 157 KEYENCE CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 158 KEYENCE CORPORATION: PRODUCT LAUNCHES
             12.1.6 KLA CORPORATION
                        TABLE 159 KLA CORPORATION: COMPANY OVERVIEW
                        FIGURE 60 KLA CORPORATION: COMPANY SNAPSHOT
                        TABLE 160 KLA CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 161 KLA CORPORATION: PRODUCT LAUNCHES
             12.1.7 MITUTOYO CORPORATION
                        TABLE 162 MITUTOYO CORPORATION: COMPANY OVERVIEW
                        TABLE 163 MITUTOYO CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 164 MITUTOYO CORPORATION: PRODUCT LAUNCHES
                        TABLE 165 MITUTOYO CORPORATION: DEALS
             12.1.8 JENOPTIK
                        TABLE 166 JENOPTIK: COMPANY OVERVIEW
                        FIGURE 61 JENOPTIK: COMPANY SNAPSHOT
                        TABLE 167 JENOPTIK: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 168 JENOPTIK: PRODUCT LAUNCHES
                        TABLE 169 JENOPTIK: DEALS
             12.1.9 RENISHAW PLC
                        TABLE 170 RENISHAW PLC: COMPANY OVERVIEW
                        FIGURE 62 RENISHAW PLC: COMPANY SNAPSHOT
                        TABLE 171 RENISHAW PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 172 RENISHAW PLC: PRODUCT LAUNCHES
                        TABLE 173 RENISHAW PLC: DEALS
             12.1.10 CREAFORM
                        TABLE 174 CREAFORM: COMPANY OVERVIEW
                        TABLE 175 CREAFORM: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 176 CREAFORM: PRODUCT LAUNCHES
                        TABLE 177 CREAFORM: DEALS
     12.2 OTHER PLAYERS 
             12.2.1 ACCUSCAN
             12.2.2 CARMAR ACCURACY CO., LTD.
             12.2.3 BAKER HUGHES COMPANY
             12.2.4 CYBEROPTICS
             12.2.5 CAIRNHILL
             12.2.6 ATT METROLOGY SOLUTIONS
             12.2.7 SGS SOCIÉTÉ GÉNÉRALE DE SURVEILLANCE SA
             12.2.8 TRIMET
             12.2.9 AUTOMATED PRECISION INC (API)
             12.2.10 APPLIED MATERIALS, INC.
             12.2.11 PERCEPTRON, INC.
             12.2.12 SHINING3D
             12.2.13 INTERTEK GROUP PLC
             12.2.14 BRUKER
             12.2.15 METROLOGIC GROUP
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.  
 
13 APPENDIX (Page No. - 307)
     13.1 DISCUSSION GUIDE 
     13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     13.3 CUSTOMIZATION OPTIONS 
     13.4 RELATED REPORTS 
     13.5 AUTHOR DETAILS 
 

 

The study involved four major activities in estimating the size of the industrial metrology market. Exhaustive secondary research has been conducted to collect information on the market, the peer markets, and the parent market. Both top-down and bottom-up approaches have been employed to estimate the total market size. Market breakdown and data triangulation methods have also been used to estimate the market for segments and subsegments.

Secondary Research

Revenues of companies offering industrial metrology have been obtained from the secondary data available through paid and unpaid sources. The revenues have also been derived by analyzing the product portfolio of key companies, and these companies have been rated according to the performance and quality of their products.

Various secondary sources have been referred to in the secondary research process for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers; IoT technologies journals and certified publications; articles by recognized authors; gold-standard and silver-standard websites; directories; and databases.

Secondary research has been conducted mainly to obtain critical information about the market’s value chain, the total pool of key players, market classification and segmentation according to the industry trends to the bottom-most level, geographic markets, and key developments from both demand- and technology-oriented perspectives. Secondary data has been collected and analyzed to determine the overall market size, further validated by primary research.

Primary Research

Extensive primary research has been conducted after understanding and analyzing the current scenario of the industrial metrology market through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand and supply sides across four major regions: North America, Europe, Asia Pacific, and RoW. Approximately 25% of the primary interviews have been conducted on the demand side, while 75% have been conducted on the supply side. Primary data has been collected mainly through telephonic interviews, which consist of 80% of the total primary interviews. Questionnaires and e-mails have also been used to collect data.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primary. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:

Industrial Metrology Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up procedure has been employed to arrive at the overall size of the industrial metrology market.

  • Identifying various industrial metrology products, software, and services provided or expected to be offered by players in the value chain
  • Tracking the major manufacturers and providers of industrial metrology equipment and related services for different regions
  • Tracking the ongoing and upcoming product launches and different inorganic strategies such as acquisitions, partnerships, and collaborations
  • Estimating and forecasting the industrial metrology market in each country and, thereby region based on trade data and GDP analysis
  • Conducting multiple discussions with key opinion leaders to understand the types of equipment, software, and services deployed by industrial metrology players and analyzing the break-up of the scope of work carried out by each major company
  • Verifying and crosschecking the estimates at every level by discussing with key opinion leaders, including CEOs, directors, and operation managers, and then finally with the domain experts at MarketsandMarkets
  • Studying various paid and unpaid information sources such as annual reports, press releases, white papers, and others

Industrial Metrology Market
 Size, and Bottom-up Approach

The top-down approach has been used to estimate and validate the total size of the industrial metrology market.

  • More than 30 companies offering industrial metrology products and services were identified. Their offerings were mapped based on offering, equipment, and application.
  • After understanding the different types of products offered by various manufacturers, based on the data gathered through primary and secondary sources, the market was categorized into different segments.
  • The global industrial metrology market size was derived through the data sanity method. For each equipment, the revenues of respective providers were analyzed through annual reports and press releases and summed up to derive the overall market size.
  • For each company, a percentage was assigned to the overall revenue, or in some cases, to segmental revenue, to derive the revenue from the industrial metrology segment. The percentage for each company was assigned based on the company’s product portfolio and its range of industrial metrology-related offerings.
  • For the CAGR, the market trend analysis of industrial metrology was carried out by gauging the industry penetration rate and the demand and supply of industrial metrology products for different end-user industries.
  • The estimates at every level were verified and crosschecked through discussions with key opinion leaders, including CXOs, directors, and operation managers, and with domain experts in MarketsandMarkets.
  • Various paid and unpaid information sources, such as annual reports, press releases, white papers, and databases, were studied.

Industrial Metrology Market
 Size, and Top-down Approach

Data Triangulation

After arriving at the overall size of the industrial metrology market through the process explained, the total market has been split into several segments and subsegments. Market breakdown and data triangulation procedures have been employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The data has been triangulated by studying various factors and trends from the demand and supply sides. The market has also been validated using the top-down and bottom-up approaches.

Market Definition

Industrial metrology is the part of metrology that deals with measurements in production and quality control. It includes calibration procedures, calibration intervals, control of measurement processes, and management of measuring instruments in various industries to ensure that they match the requirements pertaining to their intended use. The industrial metrology ecosystem includes various hardware, software, and service providers. The market is diversified, with more than 25 companies competing across the value chain to sustain their position in the market and increase their market share.

Key Stakeholders

  • Raw material suppliers
  • Industrial metrology product manufacturers
  • Original equipment manufacturers (OEMs)
  • OEM technology providers
  • Technology, service, and solution providers
  • Intellectual property (IP) core and licensing providers
  • Suppliers and distributors
  • Government and other regulatory bodies
  • Forums, alliances, and associations
  • Technology investors
  • Research institutes and organizations
  • Analysts and strategic business planners
  • Market research and consulting firms
  • Associations, organizations, forums, and alliances related to metrology
  • Government bodies such as regulatory authorities and policy-makers
  • Venture capitalists, private equity firms, and start-up companies

Report Objectives

  • To define, describe, and forecast the industrial metrology market by offering, application, end-user industry, and region in terms of value
  • To forecast the industrial metrology market by equipment in terms of volume and value.
  • To provide the market size estimation for North America, Europe, Asia Pacific, and Rest of the World (RoW), along with their respective country-level market sizes, in terms of value
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges that influence market growth
  • To provide a detailed overview of the industrial metrology supply chain
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
  • To map competitive intelligence based on company profiles, key player strategies, and key developments.
  • To analyze opportunities in the market for stakeholders and provide a detailed competitive landscape of the market
  • To provide information pertaining to key technology trends and patent analysis related to the industrial metrology market
  • To provide information regarding trade data related to the industrial metrology market
  • To strategically profile key players in the industrial metrology market and comprehensively analyze their market shares and core competencies2
  • To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of market rankings/shares and product portfolios
  • To analyze competitive developments such as contracts, agreements, expansions, acquisitions, product launches, collaborations, and partnerships, along with research and development (R&D), in the industrial metrology market
  • To analyze the impact of the recession on the growth of the industrial metrology market

Available customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Detailed analysis and profiling of additional market players based on various blocks of the supply chain
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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