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Metrology Services Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Mar 2022
  • Pages: 142
  • SKU: IRTNTR72371
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The metrology services market share is expected to increase by USD 934.65 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 14.67%.

This metrology services market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers metrology services market segmentation by application (heavy equipment, automotive, aerospace and defense, and others) and geography (Europe, APAC, North America, South America, and Middle East and Africa). The metrology services market report also offers information on several market vendors, including AMETEK Inc., Apex Metrology Ltd., ATT Metrology Services, Automated Precision Inc., Avon-Dynamic Calibration Ltd., Carl Zeiss AG, East Coast Metrology LLC, FARO Technologies Inc., Hexagon AB, Intertek Group Plc, Mitutoyo Corp., Nikon Corp., Optical Metrology Services Ltd, Optimax Imaging Inspection and Measurement Ltd., Perceptron Inc., Quality Vision International Inc., Renishaw Plc, and Trescal SA among others.

What will the Metrology Services Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Metrology Services Market Size for the Forecast Period and Other Important Statistics

 

Metrology Services Market: Key Drivers, Trends, and Challenges

The growing use of CAD by manufacturers is notably driving the metrology services market growth, although factors such as the inadequate number of service providers that offer comprehensive metrology services may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the metrology services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Metrology Services Market Driver

The growing use of CAD by manufacturers is one of the key drivers supporting the metrology services market growth. Manufacturers are increasingly using CAM software to automate machine tool operations. It requires CAD models to automate machine tool processes. Thus, the growing adoption of CAD by manufacturers is also increasing demand for metrology services as the comparison of a tool or component produced can be made quickly with a CAD model using a CMM, tracker, scanner, or visual device. Hence, the efficiency of the inspection process improves significantly. Also, metrology service providers offer reverse engineering services to manufacturers. Thus, CAD models of complex tools or components can be produced with the highest level of accuracy using reverse engineering. This is leading to increasing demand for metrology services and driving the growth of the market.

Key Metrology Services Market Trend

The shrinking lifecycle of consumer and industrial products is one of the key trends contributing to the metrology services market growth. For instance, in India, the government has already started following the BS-VI emission norms for automotive vehicles, which was effecting from FY 2020 after skipping the BS V emission standards. Hence, automakers in India are developing powertrains and engines that are capable of complying with the BS-VI emission standards. These changes are being made across the entire value chain of the Indian automobile industry. Similarly, the global automobile industry is expected to witness a rapidly increasing demand for new energy vehicles. Thus, automakers are increasingly investing in the development of electric and fuel cell vehicles. This is expected to have a positive impact on the demand for metrology services during the forecast period.

Key Metrology Services Market Challenge

The inadequate number of service providers that offer comprehensive metrology services is one of the factors hindering the metrology services market growth. However, only a few metrology service providers offer comprehensive services, that include everything. It leads to uncoordinated efforts by two or more service providers for a single manufacturing process, which may not produce the desired quality output. To eliminate this problem, some vendors, 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 as, when OEMs develop in-house expertise of measurement, they tend to avail the services of metrology service providers less frequently. Thus, the inability of many service providers to offer comprehensive metrology services hampers the growth of the market.

This metrology services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global metrology service market as a part of the global environmental and facilities services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the metrology services market during the forecast period.

Who are the Major Metrology Services Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AMETEK Inc.
  • Apex Metrology Ltd.
  • ATT Metrology Services
  • Automated Precision Inc.
  • Avon-Dynamic Calibration Ltd.
  • Carl Zeiss AG
  • East Coast Metrology LLC
  • FARO Technologies Inc.
  • Hexagon AB
  • Intertek Group Plc
  • Mitutoyo Corp.
  • Nikon Corp.
  • Optical Metrology Services Ltd
  • Optimax Imaging Inspection and Measurement Ltd.
  • Perceptron Inc.
  • Quality Vision International Inc.
  • Renishaw Plc
  • Trescal SA

 

This statistical study of the metrology services market encompasses successful business strategies deployed by the key vendors. The metrology services market is fragmented and the vendors are deploying growth strategies such as developing new energy vehicles, such as electric and fuel cell vehicles to compete in the market.

Product Insights and News

  • FARO Technologies Inc. - It is a public company headquartered in the US. It is a global company generating $303.77 million in revenues and has around 1,364 employees. Its revenue from the global metrology services market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company.
  • FARO Technologies Inc. - The company offers Quantum Max FaroArm Series that is ideal for precision assembly in tough industrial environments.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The metrology services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Metrology Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the metrology services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Metrology Services Market?

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29% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the metrology services market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The aerospace, medical devices, and heavy equipment sector will facilitate the metrology services market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic spread widely across North America, especially in the US, in 2020. This had a negative impact on the overall market. However, in 2021, the COVID-19 vaccination drive has started. After this everything was slowly started returning back to normal, with COVID-19-appropriate behavior in place. Due to the resumption of manufacturing and transportation activities, the demand for metrology services will increase in North America, and the regional market in focus will grow during the forecast period.

What are the Revenue-generating Application Segments in the Metrology Services Market?

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The metrology services market share growth by the heavy equipment segment will be significant during the forecast period. Globally, heavy equipment manufacturing activities, especially earthmoving, excavation, and agriculture-related activities, are expected to grow significantly during the forecast period. This is primarily attributed to the rapid growth of investments in infrastructure projects. This investment is expected to benefit roads, bridges, airports, drinking and wastewater systems, and others. Most of these infrastructure projects require earthmoving and excavation activities to be performed. Such requirements will drive the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the metrology services market size and actionable market insights on post COVID-19 impact on each segment.

 

Metrology Services Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 14.67%

Market growth 2022-2026

$ 934.65 million

Market structure

Fragmented

YoY growth (%)

10.4

Regional analysis

Europe, APAC, North America, South America, and Middle East and Africa

Performing market contribution

North America at 29%

Key consumer countries

US, Canada, China, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AMETEK Inc., Apex Metrology Ltd., ATT Metrology Services, Automated Precision Inc., Avon-Dynamic Calibration Ltd., Carl Zeiss AG, East Coast Metrology LLC, FARO Technologies Inc., Hexagon AB, Intertek Group Plc, Mitutoyo Corp., Nikon Corp., Optical Metrology Services Ltd, Optimax Imaging Inspection and Measurement Ltd., Perceptron Inc., Quality Vision International Inc., Renishaw Plc, and Trescal SA

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

Customization purview

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What are the Key Data Covered in this Metrology Services Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive metrology services market growth during the next five years
  • Precise estimation of the metrology services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the metrology services industry across Europe, APAC, North America, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of metrology services market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 Heavy equipment - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Heavy equipment - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Heavy equipment - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Heavy equipment - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Heavy equipment - Year-over-year growth 2021-2026 (%)
    • 5.4 Automotive - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Automotive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Automotive - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Automotive - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Automotive - Year-over-year growth 2021-2026 (%)
    • 5.5 Aerospace and defense - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Aerospace and defense - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Aerospace and defense - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Aerospace and defense - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Aerospace and defense - Year-over-year growth 2021-2026 (%)
    • 5.6 Others - Market size and forecast 2021-2026
      • Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 5.7 Market opportunity by Application
      • Exhibit 44: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 46: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 48: Chart on Geographic comparison
      • Exhibit 49: Data Table on Geographic comparison
    • 7.3 Europe - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.4 APAC - Market size and forecast 2021-2026
      • Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.5 North America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 Germany - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.10 US - Market size and forecast 2021-2026
      • Exhibit 78: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.11 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.12 Canada - Market size and forecast 2021-2026
      • Exhibit 86: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 87: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 88: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 89: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 90: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 91: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 92: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 93: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 94: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 95: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 96: Matrix on vendor position and classification
            • 10.3 AMETEK Inc.
              • Exhibit 97: AMETEK Inc. - Overview
              • Exhibit 98: AMETEK Inc. - Business segments
              • Exhibit 99: AMETEK Inc. - Key offerings
              • Exhibit 100: AMETEK Inc. - Segment focus
            • 10.4 Apex Metrology Ltd.
              • Exhibit 101: Apex Metrology Ltd. - Overview
              • Exhibit 102: Apex Metrology Ltd. - Product / Service
              • Exhibit 103: Apex Metrology Ltd. - Key offerings
            • 10.5 Carl Zeiss AG
              • Exhibit 104: Carl Zeiss AG - Overview
              • Exhibit 105: Carl Zeiss AG - Business segments
              • Exhibit 106: Carl Zeiss AG - Key offerings
              • Exhibit 107: Carl Zeiss AG - Segment focus
            • 10.6 FARO Technologies Inc.
              • Exhibit 108: FARO Technologies Inc. - Overview
              • Exhibit 109: FARO Technologies Inc. - Business segments
              • Exhibit 110: FARO Technologies Inc. - Key news
              • Exhibit 111: FARO Technologies Inc. - Key offerings
              • Exhibit 112: FARO Technologies Inc. - Segment focus
            • 10.7 Hexagon AB
              • Exhibit 113: Hexagon AB - Overview
              • Exhibit 114: Hexagon AB - Business segments
              • Exhibit 115: Hexagon AB - Key offerings
              • Exhibit 116: Hexagon AB - Segment focus
            • 10.8 Intertek Group Plc
              • Exhibit 117: Intertek Group Plc - Overview
              • Exhibit 118: Intertek Group Plc - Business segments
              • Exhibit 119: Intertek Group Plc - Key news
              • Exhibit 120: Intertek Group Plc - Key offerings
              • Exhibit 121: Intertek Group Plc - Segment focus
            • 10.9 Mitutoyo Corp.
              • Exhibit 122: Mitutoyo Corp. - Overview
              • Exhibit 123: Mitutoyo Corp. - Product / Service
              • Exhibit 124: Mitutoyo Corp. - Key offerings
            • 10.10 Nikon Corp.
              • Exhibit 125: Nikon Corp. - Overview
              • Exhibit 126: Nikon Corp. - Business segments
              • Exhibit 127: Nikon Corp. - Key news
              • Exhibit 128: Nikon Corp. - Key offerings
              • Exhibit 129: Nikon Corp. - Segment focus
            • 10.11 Optimax Imaging Inspection and Measurement Ltd.
              • Exhibit 130: Optimax Imaging Inspection and Measurement Ltd. - Overview
              • Exhibit 131: Optimax Imaging Inspection and Measurement Ltd. - Product / Service
              • Exhibit 132: Optimax Imaging Inspection and Measurement Ltd. - Key offerings
            • 10.12 Trescal SA
              • Exhibit 133: Trescal SA - Overview
              • Exhibit 134: Trescal SA - Product / Service
              • Exhibit 135: Trescal SA - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 136: Inclusions checklist
                • Exhibit 137: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 138: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 139: Research methodology
                • Exhibit 140: Validation techniques employed for market sizing
                • Exhibit 141: Information sources
              • 11.5 List of abbreviations
                • Exhibit 142: List of abbreviations

              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.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The metrology services market market growth will increase by $$ 934.65 million during 2023-2026.
              The metrology services market market is expected to grow at a CAGR of 14.67% during 2023-2026.
              Technavio has segmented the metrology services market market by application (Heavy equipment, Automotive, Aerospace and defense, and Others) and geographic (Europe, APAC, North America, South America, and Middle East and Africa).
              AMETEK Inc., Apex Metrology Ltd., ATT Metrology Services, Automated Precision Inc., Avon-Dynamic Calibration Ltd., Carl Zeiss AG, East Coast Metrology LLC, FARO Technologies Inc., Hexagon AB, Intertek Group Plc, Mitutoyo Corp., Nikon Corp., Optical Metrology Services Ltd, Optimax Imaging Inspection and Measurement Ltd., Perceptron Inc., Quality Vision International Inc., Renishaw Plc, Trescal SA are a few of the key vendors in the metrology services market market.
              North America will register the highest growth rate of 29% among the other regions. Therefore, the metrology services market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the metrology services market market growth are:
              • Growing use of CAD by manufacturers
              • Shrinking lifecycle of consumer and industrial products
              The metrology services market market vendors should focus on grabbing business opportunities from the heavy equipment segment as it accounted for the largest market share in the base year.
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