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

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Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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