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The metrology services market size is estimated to grow at a CAGR of 14.72% between 2023 and 2028. The market size is forecast to increase by USD 1.20 billion. The growth of the market depends on several factors, including the growing use of CAD by manufacturers, the growing adherence to global quality standards, and the inability of traditional measurement products to analyze complex geometries. Metrology service providers offer field or laboratory services to original equipment manufacturers (OEMs) using metrology tools such as coordinate measuring machines (CMMs), lasers and scanners, vision systems, and software, as well as metrology experts. These services include reverse engineering, repair, and calibration services, training, equipment rentals, tool design, and automation and system integration of measurement equipment.
This metrology services market report extensively covers market segmentation by application (heavy equipment, automotive, aerospace and defense, and others), product (coordinate measuring machines (CMM), and optical digitizers and scanners (ODS)), and geography (Europe, APAC, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018-2022.
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Growing adherence to global quality standards is the key factor driving the market growth. The global manufacturing sector is focused on lowering the number of faults to stay competitive and grow profitability. This is possible by conceding with global quality standards, which aim at measuring different metrological dimensions of the products after every value-addition activity. Quality standards define the requirements and processes to be followed for a measurement system, which results in the reduction of the number of defects.
Furthermore, the growing adherence to global quality standards is resulting in manufacturers measuring every stage of their processes, including those stages that may not have been considered necessary previously. This is leading to an increasing demand for metrology services. Hence, the global metrology services market will grow significantly during the forecast period.
An increasing number of M&As is the primary trend shaping market growth. The global metrology services market witnessed a high number of mergers and acquisitions taking place in 2020 and early 2021. Apart from indicating the high growth expected in the global metrology services market, these activities also predict that the existing fragmentation in the market will decline in the next five years.
Moreover, acquisitions are also expected to lower the competitive intensity in the market, especially for CMM service offerings, as CMM services are common to almost all service providers. Thus, the growing synergies between the acquiring and acquired firms are expected to increase the average profit margins in the market. Hence, such factors will drive the growth of the market during the forecast period.
An inadequate number of service providers that offer comprehensive metrology services is a challenge that affects market growth. The global metrology services market is relatively fragmented as there are a large number of market players. However, only a few metrology service providers deliver comprehensive services, including everything from comparing a manufactured part or tool with its CAD model, reverse engineering, 3D modeling, calibration of industrial robots, and integration of metrology systems with manufacturing processes or metrology automation.
Moreover, an inadequate number of service providers makes it necessary for the buyers of these services to rely on multiple market players for a single manufacturing process. To eliminate this problem, some market players, especially in the aerospace and defense industry, prefer to develop in-house metrology expertise, as aerospace and defense is an industry that has near zero or zero tolerance for dimensional inaccuracy. This hinders the growth of the market during the forecast period.
The market share growth by the heavy equipment segment will be significant during the forecast period. This application segment includes onsite dimensional measurement services for the manufacturers of heavy equipment used in sectors such as oil and gas and power generation, earthmoving, excavation, and agricultural machinery. These services are used for the measurement and calibration of tools, fixtures, jigs, gauges, and dies, manufactured components, and machinery.
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The heavy equipment segment showed a gradual increase in the market share of USD 307.01 million in 2018. Heavy equipment manufacturing activities, especially earthmoving, excavation, and agriculture-related activities, are expected to grow significantly across the globe. Most of the infrastructure projects require earthmoving and excavation activities to be performed. Furthermore, developed countries continue to witness an increase in the level of mechanization in the agriculture sector to compensate for the dearth of manpower, lower product costs, and improve yields. Therefore, the heavy equipment segment is expected to grow significantly in the metrology services market during the forecast period.
The coordinate measuring machines (CMM) segment is driven by many factors, like the increase in production levels in the automotive industry and a rise in demand for portable CMMs. Moreover, vendors in the global metrology services market are coming up with new product launches. For example, in February 2022, Made to Measure launched the AccuFLEX series of CMM. Furthermore, ensuring minimal errors in measurements and flexibility in usage is expected to boost the growth of the CMM segment during the forecast period, thereby driving the growth of the global metrology services market during the forecast period.
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Europe is estimated to contribute 29% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe is one of the largest producers of automobiles, aerospace and defense equipment, and medical devices worldwide. For example, there are approximately 290 vehicle manufacturing plants in Europe, supported by thousands of automotive component suppliers. Hence, the large base of automotive suppliers, machine tools, and industrial robots in the automobile industry in Europe is responsible for the high demand for metrology services in Europe. Furthermore, Europe is a manufacturing hub for the global aerospace and defense industry, which is expected to witness significant growth. Hence, such factors are expected to drive market growth in this region during the forecast period.
In 2020, the outbreak of COVID-19 led to a decline in the growth of the metrology services market in Europe. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of supply chain activities. Furthermore, the development of software-based process automation and portable metrology equipment for industry-specific custom services significantly contributes to the growth of the metrology services market in the region during the forecast period.
The Metrology Services Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Metrology Services Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The metrology services market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2022.
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Metrology Services Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 14.72% |
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Market Growth 2024-2028 |
USD 1.20 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
14.22 |
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Regional analysis |
Europe, APAC, North America, South America, and Middle East and Africa |
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Performing market contribution |
Europe at 29% |
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Key countries |
US, Canada, China, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AMETEK Inc., Apex Metrology Ltd, Atlas Copco AB, ATT Metrology Services, Automated Precision Inc., Avon Dynamic Calibration Ltd., Carl Zeiss AG, FARO Technologies Inc., Hexagon AB, In Place Machining Company LLC, Intertek Group Plc, Keyence India Pvt. Ltd., KLA Corp., Mitutoyo Corp., Nikon Corp., Optical Metrology Services Ltd, Optimax Imaging Inspection and Measurement Ltd, Quality Vision International Inc., Renishaw Plc, and Trescal International SAS |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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