The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s Coordinate Measuring Machine Global Market Report 2023, The global coordinate measuring machine market is expected to grow from $3.12 billion in 2022 to $3.44 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The market size of the coordinate measuring machine is expected to grow to $4.74 billion in 2027 at a CAGR of 8.3%.

Asia-Pacific was the largest region in the coordinate measuring machine market in 2022.

Coordinate Measuring Machine Market Driver

During the projected period, the expansion of the automotive sector is expected to drive the growth of the coordinate measuring machines market. The automotive sector encompasses all enterprises and endeavours involved in the manufacture of motor vehicles, as well as the majority of their components, such as bodywork and engines. In the automobile sector, CMMs are used to measure suspension hard points for use in vehicle dynamics simulations. According to the India Brand Equity Foundation, an export marketing body of the Indian government, the total number of passenger vehicles, three-wheelers, two-wheelers, and quadricycles produced in January 2022 was 1,860,809 units. In addition, the Indian government anticipates that the automobile sector will attract $8-10 billion in domestic and foreign investment by 2023. Furthermore, according to Crunchbase, a US-based dealmaker prospecting website, Tesla, a US-based automotive and clean energy firm, raised a total of $ 20.2 billion in fundraising over 35 rounds in 2020. As a result, the expansion of the automotive sector will force the coordinate measuring machine market forward.

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Key Coordinate Measuring Machine Market Segments

The global coordinate measuring machine market is segmented –

1) By Type: Fixed CMM, Portable CMM

2) By Application: Inspection, Reverse Engineering

3) By Industry: Automotive, Aerospace, Heavy Machinery, Energy and Power, Electronics, Medical, Other Industries

Coordinate Measuring Machine Market Prominent Players

Major players in the coordinate measuring machine market are Carl Zeiss AG, Creaform Inc., Eley Metrology, FARO Technologies Inc., Hexagon AB, Keyence Corporation, Metronor AS, Mitutoyo Corporation, Nikon Metrology NV, Tokyo Seimitsu Co. Ltd., Perceptron Health Inc., WENZEL Group GmbH & Co. KG, Aberlink Ltd., Accurate Gauging & Instruments Pvt Ltd., and Dukin Co. Ltd.

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Prominent Coordinate Measuring Machine Market Trend

The rise of 3D measurement systems is a prominent trend that is gaining traction in the coordinate measuring machine market. 3D measurement is a metrology method that uses many forms of 3D measuring equipment, such as 3D scanners, to capture 3D data from physical objects, such as their shapes, textures, geometries, and colours. SCANTECH, a France-based high-tech business that develops, manufactures, and sells high-tech 3D scanners, for example, debuted the TrackScan-P, an optical target-free 3D measurement system, in October 2022. The TrackScan-P offers more laser lines for more efficient scanning, updated high-resolution cameras, and sophisticated edge inspection. TrackScan-P can precisely measure parts without the usage of reference objects by utilising clever optical tracking measurement and high-resolution cameras. The portable 3D scanner and optical tracker in the optical 3D measuring system are perfect for scanning large items in 3D.

The Coordinate Measuring Machine Global Market Report 2023  provides comprehensive insights on the coordinate measuring machine market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the coordinate measuring machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Industrial Metrology Global Market Report 2023

Machinery Global Market Report 2023

Machine Tools Global Market Report 2023

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