Market Research Report
Metrology Software - Global Market Outlook (2019-2027)
|Published by||Stratistics Market Research Consulting||Product code||951522|
|Published||Content info||144 Pages
Delivery time: 2-3 business days
|Metrology Software - Global Market Outlook (2019-2027)|
|Published: July 1, 2020||Content info: 144 Pages||
According to Stratistics MRC, the Global Metrology Software Market is accounted for $954.73 million in 2019 and is expected to reach $1,806.80 million by 2027 growing at a CAGR of 8.3% during the forecast period. Some of the key factors propelling the market growth include advancements in the field of electronics and semiconductors, presence of a robust manufacturing industry across several regional pockets, increasing demand from the ship building and healthcare verticals, and demand for high quality products from consumers. However, lack of awareness is identified as a key factor hindering the market growth.
Metrology is the science of measurement. Metrology software refers to the computer tools and technology that are used for this science of measurement. This field aims to establish a standard comprehension of all measured units, both theoretical and experimental, and create definitions of different units of measurement in any science or technological field.
By end user, electronic manufacturing is anticipated to grow at the significant rate during the forecast period, due to the demand for the metrology software market are the emerging solutions in electronic manufacturing aided with the continuous development of advanced nanotechnology, smart materials, flexible electronics, and green manufacturing. Metrology software solutions are expected to grow into an indispensable part of electronic manufacturing and quality inspection activities. In the rapidly-growing electronic manufacturing industry, end users are aiming to design and manufacture new product designs and development.
On the basis of geography, Asia-Pacific region constitutes the largest market in the world. This is because of the presence of renowned automotive giants and aerospace establishments in the region and their increasing interest in high accuracy metrology solutions across the region. Moreover, Singapore, Malaysia, and India have also experienced significant growth over the past few years, both in terms of adding new aerospace manufacturing facilities and attracting global participants to set up shops across the region. China is a global manufacturing hub. Since the precision and complexity in manufacturing processes increase, the metrology software market is expected to see a boost in this area, as China currently has many manufacturing facilities of national and international giants.
Some of the key players in metrology software market include Konica Minolta Inc., Carl Zeiss AG, Ametek Creaform Inc., Nikon Metrology NV, 3D Systems, Inc., Hexagon AB, Faro Technologies, Shining 3D Tech Co. Ltd, Renishaw PLC, Fluke Corporation, Rudolph Technologies, Inc., Innovmetric Inc., ZEISS International, Tech Soft 3D, Mitutoyo Corporation, Metrologic Group, Perceptron Inc., Minds Mechanical, GOM Metrology, Optical Gaging and Products (OGP).
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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.