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

The global industrial metrology market is poised for substantial growth, with projections indicating an increase from $9.60 billion in 2022 to $10.37 billion in 2023, reflecting an impressive compound annual growth rate (CAGR) of 8.0%. Looking ahead, the market is set to reach $13.87 billion in 2027, sustaining a steady CAGR of 7.5%.

• Impressive CAGR: A robust compound annual growth rate underscores the ascending trajectory of the industrial metrology market.

Driving Forces: Surging Adoption of Hybrid and Electric Vehicles
The burgeoning adoption of hybrid and electric vehicles emerges as a significant driver propelling the growth of the industrial metrology market. Hybrid electric vehicles, equipped with both internal combustion engines and electric motors, draw attention to the critical role of metrology in ensuring optimal manufacturing processes for electric vehicle gears.

• Essential Metrology Role: Metrology plays a crucial role in optimizing the manufacturing process of electric vehicle gears, contributing to the growth of the industrial metrology market.
• Global Electric Vehicle Landscape: According to the International Energy Agency (IEA), the global number of electric vehicles on the road is expected to reach 16.5 million in 2022, with projections indicating a substantial increase in the coming years.
• Net Zero Emissions Scenario: The Net Zero Emissions by 2050 Scenario anticipates over 300 million electric vehicles on the road by 2030, constituting 60% of all new car sales.
• Driving Market Growth: The surge in hybrid and electric vehicle adoption significantly drives the growth of the industrial metrology market.

Industry Titans: Key Players Shaping the Landscape
Major players wield significant influence in shaping the trajectory of the industrial metrology market. Key industry players include Hexagon AB, Carl Zeiss AG, and Faro Technologies.

• Market Influencers: Hexagon AB, Carl Zeiss AG, Nikon India Pvt. Ltd., and other major players play pivotal roles in defining market trends and strategies.

Innovative Momentum: Trends in Product Innovation
Innovation takes center stage as a key trend in the industrial metrology market, with major companies developing cutting-edge products to fortify their market positions. Notably, Keyence introduced the LM Series, a high-accuracy instant measurement system, showcasing distinctive features that elevate precision and efficiency.

• Keyence’s LM Series: Launched in March 2022, the LM Series stands out with an automated inspection system delivering measurements with +/- 0.7 µm precision and +/- 0.1 µm repeatability at the touch of a button.
• Efficiency and Speed: The LM Series offers speed and efficiency, requiring fewer images than other systems due to fast stage movement and a wide field of view.
• Automated Compilation: The system automatically compiles comprehensive inspection reports and records measurement data, exemplifying the trend of innovative product offerings.

Market Segmentation: Navigating Diverse Dynamics
The global industrial metrology market unfolds through detailed segmentation, providing insights into its multifaceted dynamics.

1. By Offering:
   • Hardware, Software, Services
2. By Equipment:
   • Coordinate Measuring Machine (CMM), Optical Digitizer and Scanner (ODS), Measuring Instruments, X-ray and Computed Tomography, Automated Optical Inspection, Form Measurement Equipment, 2D Equipment
3. By Application:
   • Quality Control and Inspection, Reverse Engineering, Mapping and Modeling, Other Applications
4. By End-User Industry:
   • Aerospace and Defense, Automotive, Semiconductor, Manufacturing, Other End-User Industries

Regional Dominance: North America at the Helm
In 2022, North America emerged as the largest region in the industrial metrology market share, underscoring the region’s prominence in steering market dynamics.

• Leadership Position: North America’s dominant role in the market positions it as a key player in the global landscape.

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The Industrial Metrology Global Market Report 2023  provides an overview of the industrial metrology market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The industrial metrology market forecast analyzes industrial metrology market size, industrial metrology market share, leading competitor and their market positions.

The Table Of Content For The Industrial Metrology Market Include:
1. Industrial Metrology Market Executive Summary
2. Industrial Metrology Market Segments
3. Industrial Metrology Market Size And Industrial Metrology Market Growth Rate
4. Key Industrial Metrology Market Trends
5. Major Industrial Metrology Market Drivers
……
25. Key Mergers And Acquisitions In The Industrial Metrology Market
26. Top Industrial Metrology Companies
27. Industrial Metrology Market Opportunities And Strategies
28. Industrial Metrology Market, Conclusions And Recommendations
29. Appendix

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