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

Updated on : Sep 18, 2024

Industrial Metrology Market Size, Share & Growth

[306 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 industry 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 Trends & 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 - Industrial Metrology Market Size

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.

Scope of the Industrial Metrology Market Report

Industrial Metrology Market Highlights

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

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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