Market Research Report
Coordinate Measuring Machine (CMM) Market Forecasts to 2028 - Global Analysis By Type (Portable CMM, Fixed/Stationary CMM), Offering (Switches, Services), Component (Stage, Controller, Trigger Probe), and By Geography
|Coordinate Measuring Machine (CMM) Market Forecasts to 2028 - Global Analysis By Type (Portable CMM, Fixed/Stationary CMM), Offering (Switches, Services), Component (Stage, Controller, Trigger Probe), and By Geography|
Published: October 1, 2021
Stratistics Market Research Consulting
Content info: 200+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Coordinate Measuring Machine (CMM) Market is accounted for $2.52 billion in 2020 and is expected to reach $5.78 billion by 2028 growing at a CAGR of 10.9% during the forecast period. Some of the key factors propelling the market growth include growing use of 3D data in modeling and analytical applications, increasing use of metrology in power sector, adoption of in-line solutions and technological advancements, thriving automotive sector, and rise in electric vehicle sales. However, high deployment and maintenance costs are likely to restraining the market growth.
CMM's refer to devices that are specifically designed for measuring the physical geometrical properties and characteristics of an object. It is used for dimension and 3D inspection of various physical parts or products. It has set the criterion for accurateness and consistency of inspection of products among the manufacturing industries. These machines have set the standard for reliability and accuracy of inspection of products across the manufacturing industries. Most manufacturing companies are using these machines due to their benefits.
By end user, the automotive segment is anticipated to grow at the significant rate during the forecast period, due to growing demand for vehicles especially from developing countries such as India and China and shift in preference from off-line quality inspection to near-line or in-line measurement techniques, enabling higher sampling rates and shorter inspection times in the automotive industry.
Based on the geography, Asia Pacific is projected to have considerable market growth during the forecast period, owing to growing population, heavy industrialization, rise in the demand of CMMs in China, India, and Japan particularly for industries such as heavy machinery and electronics, increasing awareness related to automation, growing adoption of international quality standards in manufacturing units.
Some of the key players in Coordinate Measuring Machine (CMM) Market include Keyence Corporation, ABB Ltd., Emerson Electric Co., Carl Zeiss AG (Zeiss Group), AMETEK Inc., Apex Metrology Ltd., Honeywell International Inc., Tokyo Seimitsu Co. Ltd., Siemens AG, Endress+Hauser Management AG, FARO Technologies, Inc., TE Connectivity, Hexagon AB, Vega Grieshaber Kg, Nikon Corporation, Texas Instruments, Mitutoyo Corporation, Creaform, Inc., WENZEL Group GmbH & Co. KG, and Aberlink Ltd.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.