The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Coordinate Measuring Machine Global Market Report 2024, the coordinate measuring machine market is expected to show significant growth in the forecast period.

In recent years, the coordinate measuring machine (CMM) market has witnessed robust growth, surging from $3.43 billion in 2023 to an estimated $3.76 billion in 2024, showcasing an impressive Compound Annual Growth Rate (CAGR) of 9.7%. The industry’s strong historical growth can be attributed to various factors, including the automotive sector’s expansion and a heightened emphasis on sustainable manufacturing.

Historical Growth Drivers

• Growth in the automotive sector.
• Rise in automation.
• Emphasis on sustainable manufacturing.
• Shortened product development cycles.
• Industrialization.

Anticipating Strong Growth Ahead

Projected Market Expansion

• The coordinate measuring machine market is poised to experience strong growth.
• Estimated to reach $5.44 billion by 2028, with a CAGR of 9.6%.

Future Growth Catalysts

• Rising aerospace industry.
• Growing medical sector.
• Industry 4.0 and smart manufacturing adoption.
• Rising demand for high-quality goods.

Emerging Trends in the Forecast Period

• Non-contact metrology.
• 3D scanning and digitization.
• Shop-floor CMMs.
• Multi-sensor CMMs.
• Portable CMMs.

Automotive Sector Expansion Driving Growth

Vital Role of CMMs in Automotive Industry

• CMMs used to measure suspension hard points for vehicle dynamics simulations.
• Indian automotive sector’s significant contributions.
• Tesla’s substantial funding in 2020.

Key Market Players

• Leading companies contributing to growth include Carl Zeiss AG, FARO Technologies Inc., Hexagon AB, and Mitutoyo Corporation.

View More On The Coordinate Measuring Machine Market Report 2024 – https://www.thebusinessresearchcompany.com/report/coordinate-measuring-machine-global-market-report

Revolutionizing with 3D Measurement Systems

Emergence of 3D Measurement Systems

• A key trend gaining popularity in the CMM market.
• 3D measurement processes collecting comprehensive data from physical objects.
• SCANTECH’s launch of the TrackScan-P optical target-free 3D measurement system.

Advancements in 3D Measurement

• Increased laser lines for enhanced scanning efficiency.
• Upgraded high-resolution cameras.
• Intelligent optical tracking measurement and high-resolution cameras for precise measurements.

Strategic Expansions and Acquisitions

AIMS Metrology’s Acquisition

• In March 2021, AIMS Metrology acquired Measurement Specialties Inc.
• Acquisition aimed at expanding AIMS Metrology’s control quality and delivery timeframes.
• Measurement Specialties Inc. specialized in electronic measurement devices and CMMs.

Market Segmentation

Diverse Types

• Fixed CMM.
• Portable CMM.

Varied Applications

• Inspection.
• Reverse Engineering.

Wide Range of Industries

• Automotive.
• Aerospace.
• Heavy Machinery.
• Energy and Power.
• Electronics.
• Medical.
• Other Industries.

Regional Dynamics

Asia-Pacific Leading the Way

• Asia-Pacific emerged as the largest region in the CMM market in 2023.
• Expected to be a key player in the forecast period.

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The Coordinate Measuring Machine Global Market Report 2024  provides an in-depth analysis on the coordinate measuring machine market size, trends and drivers, opportunities, strategies, and companies 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.

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