Coordinate Measuring Machine (CMM) Market

Market Leadership - Coordinate Measuring Machine (CMM) Market

The global coordinate measuring machine (CMM) market size is expected to reach USD 4.3 billion by 2026 from USD 2.8 billion in 2021, growing at a CAGR of 8.8%. The key factors driving the growth of the market include the growing use of 3D data in modeling      and analytical applications, increasing R&D spending on developing metrology products, and thriving automotive sector. Zeiss Group (Germany), FARO Technologies (US), Hexagon (Sweden), Nikon Corporation (Japan), Mitutoyo (Japan), Tokyo Seimitsu (Japan), Keyence Corporation (Japan), Creaform (Canada), Perceptron (US), and Wenzel  Group (Germany)  are among a few major players in the CMM market.

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Hexagon has a huge and diversified portfolio of CMMs. For the last three years, the company has been investing more than 10% of its annual revenue in R&D activities. The company conducts operations through 300 operating facilities in 50 countries. It serves clients from several industries, including surveying, electronics and manufacturing, infrastructure and construction, energy & power, automotive, aerospace & defense, natural resources, and public safety.

Nikon Metrology, a dedicated subsidiary of Nikon Corp., has a strong and broad product portfolio of CMM solutions for applications ranging from miniature electronics to large aircraft. To grow in the CMM market, the company has adopted the strategies of product launches and developments. Nikon strives to offer innovative products, allowing manufacturers to deliver premium quality products in a shorter time. Additionally, the company follows the strategy of partnerships and contracts to increase its client reach and client database.

Keyence develops and manufactures leading-edge solutions that enable high-precision 3D capture, measurement, and analysis across a variety of industries, including manufacturing, construction, engineering, and public safety. Keyence offers portable metrology and 3D documentation solutions to a wide range of industries. The spread of COVID-19 could affect the company’s future developments, operations, and businesses. Furthermore, the CMM market is characterized by rapid technological change. Competitors may develop new or improved products, processes, or technologies that may make Keyence’s products obsolete or less competitive.

Related Reports:

Coordinate Measuring Machine (CMM) Market by Type (Fixed CMM, Portable CMM), Industry (Automotive, Aerospace, Heavy Machinery, Energy & Power, Electronics, Medical), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2026

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Coordinate Measuring Machine (CMM) Market Size,  Share & Growth Report
Report Code
SE 6753
RI Published ON
7/30/2021
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