The inline metrology market is expected to grow from USD 390 million in 2020 to USD 801 million by 2025, at a CAGR of 15.5%. The growth of the inline metrology market is driven by the factors such as increasing global adoption of smart metrology solutions, rising global spending on research and development activities for automation technologies, and growing use of smart 3D sensors worldwide.
The inline metrology market is highly competitive owing to the presence of a large number of regional and global players. These key players are focusing on enhancing their product portfolios and increasing market share through strategies such as product launches, partnerships, agreements, and collaboration, and expansions. Many market players adopted product launches as their key business strategy.
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Top 2 players in the inline metrology market:
Perceptron Inc. is one of the pioneer companies in the inline and near-line metrology market. It offers high measurement resolution products, which are ideally suitable for the inline and near-line measurement and inspection of complex machined parts, especially for the automotive sector. These products offer high-performance dimensional inspection platforms for automated metrology applications. Many of these machines are used in the automotive, aerospace, and heavy equipment industries. The key strategy of Perceptron includes the launch of new products and the development of new technologies and solutions to improve its inline measurement business for the automotive sector.
Hexagon AB offers a wide product portfolio in the inline metrology market. The company provides metrology solutions through its Manufacturing Intelligent Division. The key strategy of Hexagon includes the launch of new products, along with the development of new technologies and solutions. The company prominently adopts product launches as its main business strategy to widen its customer base and increase its overall business revenue. For instance, in March 2017, the company launched a new camera-based portable CMM for highly accurate shop-floor measurements. Such advanced product offerings indicate robust technology-based developmental activities undertaken by the company. Moreover, Hexagon has adopted the strategy of acquisitions to expand its business, in terms of technologies and customer base. The growth strategies of Hexagon partly depend on its ability to access additional technologies, complementary product lines, and sales channels through selective acquisitions and strategic investments. For instance, in December 2016, Hexagon acquired MWF-Technology GmbH, an innovator in mobile AR solutions, with its breakthrough technology that enables transfer of large, complex three-dimensional computer-aided design (3D CAD) data to tablet devices that is then used for mobile visualization and comparison with the real-world conditions.
Inline Metrology Market by Offering (Hardware, Software), Product (CMM, Machine Vision Systems, Optical Scanners), Application (Reverse Engineering, Quality Control & Inspection), Industry, and Geography - Global Forecast to 2025
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