Metrology Software Market Size, Share & Growth Report | 2031

Report Description

The global metrology software market size was valued at USD 937.58 Million in 2022 and is likely to reach USD 1853.80 Million by 2031, expanding at a CAGR of 7.2% during the forecast period, 2023–2031. The market growth is attributed to the ­­adoption of smart manufacturing practices to maximize industrial output and quality control.

Metrology software demand is expected to grow as companies across various industries are increasingly preferring this software to collect data related to dimensions and analysis of physical attributes such as surface textures, angles, and dimensions of objects or parts.
 

Get Free Sample Report

Organizations are emphasizing providing high-quality products with high efficiency and functionality to gain a competitive edge in the market. The manufacturers are able to manufacture high-quality products with low tolerances for any dysfunctionality.

Metrology solutions are gaining popularity in the industrial landscape due to the growing adoption of smart measurement systems in industrial processes such as energy, manufacturing, automotive, defense, and aerospace, among others.

Metrology software conducts the measurements of objects and parts in the production process with the help of various measurement devices such as laser scanners, optical systems, and coordinate measuring machines.  The software evaluates the measurement data and generates measurement routines.

With the integration of AI and machine learning tools, companies competing in the metrology market have new pathways for market expansion. Artificial intelligence can assist in signal analysis to make the measurement more efficient and reliable. In the metrology industry, AI can be used to improve the performance of coordinate metrology by analyzing large amounts of data and identifying patterns that can be used to improve the accuracy and precision of measurements.

Ongoing technological advancements and the growing adoption of Industry 4.0 tools such as laser tracking and 3D scanning help in increasing the efficiency and accuracy of industrial metrology solutions. This results in leading to a higher adoption rate in various industries, creating new market opportunities for the key players.

The market report finds that the COVID-19 pandemic partially affected the metrology software market. The closure of the manufacturing plants due to lockdown measures compelled manufacturers to explore smart and safe ways of handling industrial processes. The industrial plants adopted new technologies to perform the manufacturing tasks such as the measurement of objects and parts and quality control remotely.

Metrology Software Market Dynamics

Get Free Sample Report

Major Drivers

Rising adoption of smart factory frameworks by the manufacturing industries is expected to drive the market. The manufacturers are adopting smart manufacturing practices to enhance the industrial output. The automation techniques deployed in the manufacturing processes help manufacturers to maintain accuracy and consistency in industrial applications.

Rising consumer demand for high-quality products is anticipated to drive the market. Industry players offer high-quality products to consumers to gain a competitive advantage over competitors. The precision and accuracy required to manufacture high-quality products are obtained by the application of metrology software in industrial processes.

Existing Restraints

A lack of awareness about the benefits of using metrology software is likely to hinder the market. The cost of integrating metrology software into the manufacturing setup is high, this can also limit the market over the assessment period. Some manufacturers are hesitant to use the software due to the lack of awareness about its benefits.

The metrology software solutions are costly due to lengthy and complex algorithms and the cost of hiring skilled professionals to write them. The high cost of metrology software act as a restraint to the market. 

Emerging Opportunities

High-precision measurements required in the electronics and semiconductor manufacturing industry are likely to create significant opportunities for the market. The digital transformation of industrial processes and consumer electronics products has accelerated the growth of the semiconductor industry. The manufacturing of chips and circuit boards requires high-precision measurement processes thus metrology software is increasingly in demand in the electronics and semiconductor industry.

The rising adoption of metrology software in the healthcare sector is likely to create substantial opportunities for the market. The healthcare sector is evolving with the help of digital technologies. Metrology software help in enhancing precision and accuracy in dental CAD/CAM, spectroscopy, additive manufacturing, and neurosurgery.

Scope of Metrology Software Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Metrology Software Market Segment Insights

Type Segment Analysis

Based on type, the metrology software market is bifurcated into web-based and cloud-based. The cloud-based segment is expected to expand at a significant growth rate during the projection period owing to the availability of silos of data on the cloud platforms and advancements in big data analytics. The cloud platforms provide enhanced feasibility and flexibility to manufacturers in measurement applications.  

Cloud computing helps improve business efficiency, cost-effectivity, and profitability.  A study conducted by the International Data Group says that 69% of businesses have embraced cloud technology in one capacity or another, and 18% are planning to implement cloud-computing solutions to enhance business outcomes.

Web-based application segment is anticipated to expand at a rapid pace during the forecast period owing to the convenience and flexibility offered by the web-based metrology software systems. Web-based applications are easily accessed through a network and interfaces such as various web browsers or digital access platforms.

Get Free Sample Report

Application Segment Analysis

On the basis of application, the market is segregated into reverse engineering, virtual simulation, quality control & inspection, measurement & alignment, and others. The reverse engineering segment is projected to register a considerable CAGR during the forecast period due to the high precision and accuracy offered by the metrology software.

Reverse engineering comprises the process to measure objects to reconstruct the virtual model for manufacturing purposes. The metrology software helps to measure the objects precisely and model them perfectly for production and quality assurance purposes.  

Get Free Sample Report

Industry Segment Analysis

Based on industry, the metrology software market is segmented into aerospace, automotive, defense, power & energy, healthcare, consumer electronics, manufacturing, and others. The manufacturing segment is expected to register a robust growth rate during the forecast period.

The segment growth is owing to rising industrialization due to the liberalization of economies and the subsequent need for comprehensive measurement systems for quality assurance in the manufacturing sector. The manufacturing sector is a competitive sector due to the rising number of entrants.

The liberalization of economies and supportive government policies have encouraged new players to set up manufacturing plants across the globe. Manufacturers use metrology software to produce high-quality products with perfect dimensions and functionalities. 

Regional Analysis

In terms of region, the global metrology software market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period owing to the growth of the industrial sector due to supportive government policies and the adoption of smart manufacturing practices.

The manufacturing sector in the Asia Pacific region is growing by leaps and bounds due to rising consumer demands for various industrial products. The region has the largest population and is expanding in terms of urbanization, production, infrastructure, and technology at a rapid pace. Manufacturers are adopting metrology software systems to produce high-quality products to remain competitive in the market.

The market of North America is anticipated to expand at a rapid pace during the forecast period owing to the adoption of high-precision measurement systems in industrial and healthcare applications. The metrology software solutions are implemented in industrial applications to manufacture high-precision components in complex machinery. Metrology software systems are used in healthcare applications for precise measurement of cuts during surgeries.

The presence of government committees creates favorable opportunities for market players. Committees such as the National Institute of Standards and Technology (NIST) release documents with the info on standards of measurement that need to be adopted and followed by the companies. The government committees help companies adopt updated standard measurements that are useful for various industries which helps them in further market expansion in the region.

Get Free Sample Report