Industrial Metrology
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Industrial Metrology Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the industrial metrology market has seen considerable growth in the past few years. Its growth is expected to surge from $10.97 billion in 2024 to $11.75 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.1%. Factors such as the requirements for quality assurance, precision in manufacturing, global supply chain expansion, growth of the automotive industry, production efficiency, and adherence to quality standards have contributed to the growth during the historic period.
Industrial Metrology Market Size Forecast: What’s the Projected Valuation by 2029?
In the foreseeable future, the industrial metrology market is projected to experience considerable expansion. The market is speculated to inflate to $16.56 billion by 2029, with a 9.0% compound annual growth rate (CAGR). This promising progression during the forecasted span can be ascribed to the advent of intelligent manufacturing units, popularity of compact metrology solutions, breakthroughs in advanced materials, aerospace advancements and space expeditions, along with emphasis on downsizing. Key emerging trends during the prediction period encompass manufacturing customization, applications of augmented reality (AR), digital twin technology deployment, ascended utilization of robotic metrology systems, and accelerated adoption of 3D metrology.
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What Are the Drivers Transforming the Industrial Metrology Market?
The industrial metrology market is anticipated to grow significantly due to the increasing uptake of hybrid and electric vehicles. These hybrid electric vehicles are characterized by their use of an internal combustion engine along with one or more electric motors, powered by batteries. Industrial metrology plays an essential role in enhancing the performance of electric vehicle (EV) gears, thus contributing to the sector’s growth. As per a report from the International Energy Agency (IEA), a France-based sustainable energy organization, the global count of electric vehicles will hit 16.5 million in 2022. The Net Zero Emissions by 2050 Scenario also suggests that by 2030, over 300 million electric vehicles will be on the roads, accounting for 60% of all new car sales. Hence, the escalating adoption of hybrid and electric vehicles is fueling the expansion of the industrial metrology market.
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What Long-Term Trends Will Define the Future of the Industrial Metrology Market?
The industrial metrology market is seeing the rise of product innovations as a primary trend. Key players in the market are introducing pioneering products to solidify their market presence. For example, Keyence, a Japanese company specializing in automation sensors, vision systems, barcode readers, laser markers, measuring tools, and digital microscopes, introduced the LM Series in March 2022. Notably, the LM Series is a high-accuracy instant measurement system that stands out for its features, such as its automated inspection system capable of +/- 0.7 μm precision and +/- 0.1 μm repeatability with a simple button click. It also automatically assembles detailed inspection reports and logs measurement data. Thanks to rapid stage movement and an extensive field of view, the device requires fewer images than other systems, enhancing its speed.
Which Segments in the Industrial Metrology Market Offer the Most Profit Potential?
The industrial metrology market covered in this report is segmented –
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
Subsegments:
1) By Hardware: Coordinate Measuring Machines (CMM), Optical Measurement Systems, Laser Scanners, Gauges And Fixtures, Sensors And Probes
2) By Software: Measurement And Inspection Software, Data Analysis Software, CAD Or CAM Software Integration, Quality Management Software, Calibration Management Software
3) By Services: Calibration Services, Inspection Services, Training And Support Services, Consulting Services, Maintenance And Repair Services
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Which Firms Dominate the Industrial Metrology Market by Market Share and Revenue in 2025?
Major companies operating in the industrial metrology market include Hexagon AB, Carl Zeiss AG, Nikon India Pvt. Ltd., Faro Technologies, Keyence Corporation, Jenoptik AG, CREAFORM, KLA Corporation, Mitutoyo Corporation, Renishaw PLC., Precision Products Inc., Carmar Accuracy Co. Ltd., Baker Hughes, CyberOptics, Cairnhill Metrology, Applied Materials Inc., GOM GmbH, ILJIN Steel Co., Nippon Steel & Sumitomo Metal Corporation, WENZEL Group GmbH & Co. KG, Perceptron
Which Regions Offer the Highest Growth Potential in the Industrial Metrology Market?
North America was the largest region in the industrial metrology market share in 2024. The regions covered in the industrial metrology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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