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
[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 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.
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
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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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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 |
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By Equipment |
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By Application |
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By End-user Industry |
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By Region |
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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.
Frequently Asked Questions (FAQs):
What is the current size of the Global Industrial Metrology Market?
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.
Who are the winners in the Global Industrial Metrology Market?
Companies such as Hexagon AB (Sweden), Nikon Corporation (Japan), FARO (US), Carl Zeiss AG (Germany), JENOPTIK (Germany) and KLA Corporation (US).
Which region is expected to hold the highest market share?
Asia Pacific is expected to dominate the industrial metrology market during the forecast period. Growing demand for quality control and inspection equipment in automotive and aerospace and defense is fueling advancements in the industrial metrology market.
What are the major drivers and opportunities related to the industrial metrology market?
Integration of IoT sensors with industrial metrology for promoting evolution in smart manufacturing, High focus on quality control and inspection equipment in precision manufacturing, Rising adoption of metrology products in the food industry, and Rise in demand for industry 5.0 are some of the major drivers and opportunities related to the industrial metrology market.
What are the major strategies adopted by market players?
The key players have adopted product launches, acquisitions, and partnerships to strengthen their position in the industrial metrology market.
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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:
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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
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.
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
Growth opportunities and latent adjacency in Industrial Metrology Market