The metrology services market size was USD 768 Mn in 2022 and is likely to reach USD 1.3 Bn by 2031, expanding at a CAGR of 6% during 2023–2031. The growth of the market is attributed to the increasing demand for services in industrial applications and precisely finished goods. Metrology services refer to the calibrating, testing, and opening of weights whenever necessary. The making of weight adjustments and measurements to meet tolerances as prescribed by the National Institute of Standards and Technology (NIST) is called metrology services.
Metrology is the establishment of units of measurement in various industrial applications. It aids organization to maintain productivity without interrupting the resource requirement. Dimensional metrology measures physical dimensions such as height, length, and width.
Material metrology involves properties including thermal conductivity, tensile strength, and hardness. Moreover, functional metrology focuses on the device’s performance in terms of reliability, accuracy, and repeatability.
Material metrology consists of properties, including thermal conductivity, tensile strength, and hardness. Moreover, functional metrology focuses on the performance of the device in terms of reliability, accuracy, and repeatability. These services are used independently or in integrated systems for inspection quality control, 3D measurement, product quality optimization, and reduced waste generation.
Metrology services are increasingly been applied by manufacturers who prefer to maintain the quality process, regulatory standards, and safety of their products. Advanced metrology techniques such as non-contact optical metrology and 3D scanning are witnessed to be utilized by the manufacturers.
The COVID-19 pandemic restrained the overall revenue of the global metrology services market, as the manufacturers were focusing on ways to rethink their customer engagement strategies and increase customer reach. As a part of preventive measures imposed by governments across countries to curb the virus spread, the prolonged shutdown of factories across industries had plummeted the overall demand for industrial measurements.
Post-pandemic scenarios made the manufacturers undertake actions including widening the avenues for the metrology services industry. The use of robotics is being rapidly applied in the market, which allows for performing simple measurements and quality testing in intervals.
The use of metrology services in healthcare witnessed a constant demand during the pandemic, as there was a requirement for high-quality medical devices to improve the overall health of the population.
Metrology Services Market Dynamics
Major Drivers
Growing adoption of computer-aided design (CAD) and computer-aided manufacturing (CAM) based processes for cost reduction, minimal defects, and short production cycles is boosting the market. Increasing demand for high-quality components in the automotive and aerospace industries is estimated to drive the market. Rising demand for electric and hybrid vehicles and the high adoption of mechanization in agriculture applications are the major factors boosting the market. Increasing use of metrology services in the Industrial Internet of Things (IIoT) in automation applications for technological advancements is projected to drive the market in the coming years.
Existing Restraints
The lack of universal standardization is expected to restrain the market. Service providers face issues, in terms of customizing metrology solutions, for customers. This, in turn, is estimated to restrain the market in the projection period.
Emerging Opportunities
Rising adoption of automation and technological advancements are anticipated to create lucrative opportunities in the metrology services market. Growing requirement for measured components in various industries is projected to create opportunities in the metrology services market. Furthermore, adoption of smart technologies in the automation industry is anticipated to create opportunities in the market.
Scope of the Metrology Services Market Report
The report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Metrology Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (CMM and ODS) and Application (Automotive, Aerospace, Industrial, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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FARO; Holobuilder Inc.; Renishaw plc.; Verisurf Software Inc.; Hexagon AB; ZEISS Group; Trescal, Inc.; DME Nyheder; Nikon Metrology Inc.; and Quality Vision International.
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Metrology Services Market Segment Insights
On the basis of product, the metrology services market is divided into coordinate measuring machine (CMM) and operational deflection shapes (ODS). The CMM segment is expected to expand at a significant pace during the projection period. The growth of the segment is attributed to the capability of CMM to provide surface measurement in one system.
The ODS segment is anticipated to expand at a considerable CAGR during the projection period. Laser scanners capture the geometry for engineering & inspection and offer efficient speed and accuracy in real-time. Additionally, increasing application methods are anticipated to drive the ODS segment of the metrology services market.
Based on application, the global market is segregated into automotive, aerospace, industrial, and others. The aerospace segment is projected to register a considerable CAGR during the forecast period. The growth of the segment is attributed to the development of 3D measurement technique, portable CMM, and cloud-based software platform, which fuels the market.
The automotive segment is estimated to grow substantially during the projection period. The growth of the market is attributed to the advancements in technology in the automobile industry and resulting in an increased precision level of the components.
In terms of region, the global metrology services market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the global market during the projection period owing to the growth in the aerospace and defense sector in the region. Additionally, metrology services are applied in industrial and power generation applications, which is boosting the market in the region.
The market in North America is expected to grow during the forecast period due to the rising demand for electric and hybrid vehicles among consumers in the region. The presence of numerous automobile manufacturers in the region, who use metrology applications for the assessment of the production of vehicle assembly and operation drives the regional growth of the market.
Segments
The metrology services market has been segmented on the basis of
Product
Application
- Automotive
- Aerospace
- Industrial
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- FARO
- Holobuilder Inc.
- Renishaw plc.
- Verisurf Software Inc.
- Hexagon AB
- ZEISS Group
- Trescal, Inc.
- DME Nyheder
- Nikon Metrology Inc.
- Quality Vision International
Competitive Landscape
Players in the global metrology services market include FARO; Holobuilder Inc.; Renishaw plc.; Verisurf Software Inc.; Hexagon AB; ZEISS Group; Trescal, Inc.; DME Nyheder; Nikon Metrology Inc.; and Quality Vision International. These companies adopted strategies such as acquisitions, partnerships, collaboration, mergers, and product launches to gain market share. For instance,
- In June 2021, FARO acquired Holobuilder Inc. to integrate the photogrammetry-based 3D facility. The latter’s technology platform offers general contractors, a solution that captures and virtually manages construction progress using off 360° cameras.
- In November 2021, Renishaw plc. entered into an agreement with Verisurf Software Inc., to synchronize measuring machine (CMM) software from Renishaw plc.
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