Metrology Software Market By Type (Cloud-Based, Web-Based); By Application (Power & Energy, Automotive, Electronics & Manufacturing, Aerospace & Defense, Medical, Others); By Product (Coordinate measuring machine (CMM), Optical digitizer and scanner (ODS), 3D automated optical inspection system (AoI)); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Metrology Software Market Overview
The Global metrology software market is expected to grow from USD 918.5 million in 2022 to USD 1580.4 million by 2032, at a CAGR of 7.1% during the forecast period 2022-2032.
The scientific study of the measurement is termed metrology. It makes a common knowledge and understanding of frequent units, crucial in linking human activities. Metrology is the philosophy, or the scientific study of measurements and their next deployment across various industries and has a wide area of operation. It has come out as an essential process across an array of industries due to which the demand for metrology software has been rising within the global market on account of advancements in the field of electronics and semiconductors. Talking about the history of metrology, it can be traced back to a couple of centuries ago and has developed over the past few decades. There is no disagreement regarding the fact that metrology has invaded multiple industries and sectors, and the presence of robust manufacturing industry across several regional pockets has also aided market growth.
The metrology system is used in the manufacturing of electronics and semiconductors. It ensures pinpoint detailing, due to which the demand for metrology software is predicted to go up at a boisterous rate on account of the use of metrology in the healthcare industry. The manufacturing of healthcare devices requires metrology devices propelled which will boost the growth of the market.
The global metrology software market is anticipated to account for significant revenue by the end of 2026.
Metrology is concerned with practical as well as theoretical aspects of measurement. The prevailing trend towards precise engineering has also been instrumental in driving demand for metrology solutions across the global market. The solutions are witnessing growing adoption among varied verticals on account of superior benefits offered in terms of flexibility and accuracy. Furthermore, their ability to integrate multiple functions within a single unit and make equipment compact further advocates their adoption in different verticals. These factors are expected to contribute significantly to the growth of the metrology software market.
Metrology Software Market Drivers
The metrology software market is driven by several factors and various contributors across the globe. There is greater importance in data accuracy and processing speed offered by the increasing interest of enterprises in smart factories. In additive manufacturing and reverse engineering, there is colossal emergence of applications that intensely fuel market growth. Some factors boosting the demand for metrology in modern plants and production lines, the benefits of metrology solutions is that the measurements are conducted in the production procedure itself rather than in measuring rooms. The advancement and technological update have impacted the market growth to a new extent. The future of the metrology Software Market is bright with all the factors that fuel the market in all aspects.
Metrology Software Market Segmentation
- Power & Energy
- Electronics & Manufacturing
- Aerospace & Defense
- Coordinate measuring machine (CMM)
- Optical digitizer and scanner (ODS)
- 3D automated optical inspection system (AoI)
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
Metrology Software Market Key Players
- 3D Systems, Inc.
- FARO Technologies, Inc.
- Hexagon AB
- Konica Minolta Inc.
- Metrologic Group S.A.S
- Nikon Metrology Inc.
- Optical Gaging Products (Quality Vision International)
- Renishaw plc.
- Verisurf Software, Inc.
Metrology Software Regional Insights:
Due to the presence of renowned automotive giants and aerospace establishments in the region and their increasing interest in high-accuracy metrology solutions across the region, the Asian – pacific ocean constitutes the largest market in the world.
Further talking about China; It’s a global manufacturing hub. The metrology software market is expected to boost China because the precision and complexity in manufacturing process are increasing. It also has many manufacturing facilities of national and international giants. Moreover, Singapore, Malaysia, and India have also experienced significant growth over the past few years, adding new aerospace manufacturing facilities and attracting global participants to set up shops across the region.