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Industrial metrology market global growth forecast at 6.2% CAGR to 2023 published by leading research firm

The industrial metrology market based on end-user industry has been segmented into aerospace and defense, automotive, manufacturing, semiconductor, and others.

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Industrial metrology market is new semiconductor and electonics report added on reportsnreports.com. The Industrial Metrology Market is expected to grow from USD 9.62 billion in 2018to USD 12.97 billion by 2023, at a CAGR of 6.2% between 2018 and 2023.

Hexagon (Sweden), FARO Technologies (US), Nikon Metrology (Belgium), Carl Zeiss Optotechnik (Germany), Jenoptik (Germany), GOM (Germany), and Creaform (Canada). Other prominent players are Renishaw (UK), KLA–Tencor (US), Applied Materials (US), Perceptron (US), GoM (Germany), Automated Precision (US), JLM Advanced Technical Services (US), Precision Products (US), CARMAR ACCURACY (Taiwan), Pollen Metrology (France), and Cairnhill Metrology (Singapore).

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“The quality control and inspection application holds the largest share of the industrial metrology market”

Quality control is an integral part of production process as it helps in the smooth functioning of the production, without incurring any extra cost. Under this application, metrological systems are used for alignment, CAD-based inspection, dimensional analysis, and machine calibration, among others.

Manufacturers adopt a robust inspection process to control quality. Manufacturers use metrology for accurate scanning and inspection analysis to derive corrective action without slowing down the production.

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“The automotive industry holds the largest share of the industrial metrology market”

In the automotive industry, metrological methods are required for inspection, measurement, and quality check of various components. The automotive industry has been increasingly using optical measurement systems and coordinates measuring machines (CMM), instead of conventional strain gauges, accelerometers, transducers, and extensometers for improving the safety and comfort level of vehicles.

Scanning accurately captures freeform surfaces by acquiring thousands of measuring points per second without touching the prototype.

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 “APAC to hold the largest share of the industrial metrology market”

The growth of the market in APAC is attributed to the growing automotive and manufacturing plants in this region. Moreover, large funding from governments of various APAC countries in research and development, and extensive industrial base are the major contributors to the industrial metrology market in APAC, with China, South Korea, and Japan being the major countries contributing to the growth.

continuous technological advancements propel the growth of this market.

 The breakup of the profile of primary participants has been given below:

  • By Company Type: Tier 1 = 33 %, Tier 2 = 45%, and Tier 3 = 22%

By Designation: C-level Executives= 33%, Directors = 25%, and Others = 42%

  • By Region: North America = 35%, Europe = 29%, APAC= 24%, and RoW = 12%

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