The Global Market for Metrology Software is Projected to Exceed US$740 Million by 2024
Stringent
Quality Control Requirements Against the Backdrop of Intensifying Manufacturing
Competitiveness to Drive the Global Metrology Software Market, According to a New
Report by Global Industry Analysts,
Inc.
GIA launches comprehensive analysis of industry
segments, trends, growth drivers, market share, size and demand forecasts on
the global Metrology Software markets. The global market for Metrology Software is projected to exceed US$740
million by 2024, driven by the stringent adherence to quality
assessment and uniform analysis against the backdrop of growing competitiveness
in the manufacturing industry.
As globalization is transforming various businesses
and industries worldwide, it has given rise to various opportunities for
numerous industries. The impact of globalization is high on the way business is
carried out as well as its location and owners. This has led to the enhanced
initiative among participants as they strive to offer added value to their
consumers. The importance of pricing, services and product has increased.
Numerous smaller companies are offering unique products and services with
increased significance of value addition and are contesting actively with the
larger companies. The role of the smaller companies is driven by the region,
economy, end users, society and technology.
Metrology software is used in the manufacturing of
various parts and components in industries such as textile, biomedical,
automotive, heavy equipment, aerospace and shipbuilding, renewable energy,
electronics, defense, telecommunications, satellites and space, consumer goods
and household appliances, among others. The broader Manufacturing Industry is the largest end-use
application of metrology software solutions and represents the most important
growth driver for the metrology software market. The shifting role of
manufacturing and its level of contribution to economic development
significantly impacts growth patterns in the metrology software market. In
other words, development patterns of manufacturing industries across both
developing and developed countries are of key significance to the metrology
software market. The last decade witnessed significant changes in the global
manufacturing sector with developing countries stepping into the spotlight as
tier 1 manufacturing powerhouses, while recession, poor demand and financial
constraints contributed to the decline in manufacturing in developed countries.
Modern day metrology software has liberated metrology
operations from being confined to a lab, to such an extent where no programming
knowledge is needed to run the most advanced programs. Next-generation
metrology software is automated and comprises menu-driven programs, which are integrated
with superior user interface. This development has led to software meant for
particular routines to be customized to accommodate individual applications,
which use simple English. This capability enables users to select measurement
operations apt for the task, thus maximizing the implementation of the
measurement equipment. In addition, powerful metrology software bridges the gap
between design and manufacturing, through a common metrology language. The
market for 3D metrology for the architecture & construction
sub-segment is expected to register a high growth rate. By ensuring that rework
errors are avoided, 3D documentation enables the architecture & construction
industry to ensure effective planning at each stage of product development,
ranging from preliminary design stage to final inspection. The incorporation of
3D scanning technology into a wide range of software, including computer aided
design (CAD), is driving growth of the market for architecture &
construction oriented 3D Metrology Software.
As stated by the new market research report on Metrology Software, Asia-Pacific represents
the largest market worldwide, followed by Europe. The region is also forecast
to witness the fastest growth with a CAGR of 9.3% over the analysis period,
owing to the large manufacturing base in the region, especially in China. The
Middle East & Africa, as well as Latin American region are also expected to
offer healthy growth opportunities for the market. Amon developed markets,
Japan is forecast to offer the best growth opportunities, deriving growth from
the large export oriented manufacturing base, and Japanese penchant for quality
control.
Key players in the market include 3D Systems
Corporation, Aberlink Ltd., Automated Precision Inc., Carl Zeiss Industrial
Metrology, Creaform Inc., Delcam Ltd., FARO Technologies Inc., BuildIT Software
& Solutions Ltd., GOM GmbH, Heidenhain Corporation, Hexagon AB, AICON 3D
Systems GmbH, Hexagon Manufacturing Intelligence, New River Kinematics Inc., Image
Metrology A/S, Innovative Metrology Solutions, InnovMetric Software Inc.,
Metrologic Group SA, Metrology Software Products Ltd., Micro-Vu Corporation,
Mitutoyo Corporation, Nikon Corporation, Quality Vision International Inc.,
Kotem, Optical Gaging Products, RAM Optical Instrumentation, Renishaw plc,
Rudolph Technologies Inc., The L.S. Starrett Company, and Verisurf Software
Inc. among others.
The research report titled "Metrology Software: A Global Strategic
Business Report"
announced by Global Industry Analysts Inc., provides a comprehensive review of
market trends, growth drivers, innovations and launches, and strategic industry
activities of major companies worldwide. The single segment report provides
market estimates and projections in US Dollars for Metrology Software for all
major geographic markets including the US, Canada, Japan, Europe (France,
Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China,
India, South Korea, Taiwan, and Rest of Asia-Pacific), Middle East &
Africa, Latin America (Brazil, and Rest of Latin America).
For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com
Global Industry
Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.
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