Global Metrology Market to Post 7% CAGR through 2027, States Market Research Future in Its Topical Report Published at MarketPublishers.com17 Mar 2017 • by Natalie Aster
LONDON – The value of the global metrology market stood at USD 607 million in 2016, which is forecast to register a 7% CAGR and amount to USD 1,255 million by 2027-end.
The key factor propelling this market growth is a hike in quality requirements for industrial products and services. The market growth is also underpinned by factors like an upsurge in the usage of technically sophisticated measurement devices in industries and the rising uptake of high-technology robots for industrial applications like energy storage, automation, and semiconductor slice inspection. Still, the dearth of technical know-how for operating precision products, particularly in SMBs, has constrained the uptake of coordinate inspection machines and optical digitizers and scanners.
Based on type, the industrial segment captures the leading market share and is projected to register a CAGR of close to 8% in the years to come.
By end-use sector, the manufacturing sector captures the biggest slice of the metrology market pie and is likely to post a CAGR of 9% in the offing.
APAC is poised to emerge as the most rapidly growing metrology market in the offing.
Hexagon AB, Nikon metrology NV, Mitutoyo Corporation, Renishaw PLC, Pantec Metrology, Perceptron, Inc., Zeiss group, Faro Technologies, Jenoptik AG and Exact Metrology, Inc. are the leading players in the marketplace.
Topical market research report “Global Metrology Market Analysis & Forecast 2016 To 2027” drawn up by Market Research Future examines the market worldwide.
The study presents deep, reliable insights into the factors having a bearing on the growth of the market space. It offers historical and projected revenue data for the various market segments and sub-segments pertaining to regional and country markets. It offers granular historical and forecasted revenue for the market segment types, products, and end-use sectors. Furthermore, the study profiles in detail the dominant players in the marketplace, comprehensively examining their market share, main competencies, and draws up a competitive scene in the industry, covering market shares, and key developments. An insightful analysis of the restrains and drivers, opportunities and challenges is available in the report, too.
More comprehensive reports by Market Research Future are available at its page at MarketPublishers.com.