According to a new market report published by Credence Research, Inc., “Articulated Arm Machine Market (By End-use Application (Industrial Manufacturing, Automotive, Electronics and Electrical, Aerospace, Energy and Power, and Other End-use Applications), By Price (Low-end Articulated Arms, Mid-range Articulated Arms, and High-end Articulated Arms)) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the global articulated arm machine market is expected to witness steady growth in demand, expanding at a CAGR of 8.2% during the forecast period 2016 to 2023.
Browse the full Articulated Arm Machine Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at https://www.credenceresearch.com/report/articulated-arm-machine-market
Articulated arm machines are portable coordinate measuring devices with multi-axis arms. These machines are comparatively light in weight and hence can be ported and placed in different directions to achieve greater flexibility in measuring different parameters. On account of their superior operational capabilities, articulated arm machines are witnessing growing adoption in varied industry verticals including industrial manufacturing, automotives, semiconductors, and aerospace among others. While most other metrology markets are facing uncertainty owing to economic instabilities, the demand for articulated arm machines and related services is expected to remain steady throughout the forecast period.
The global articulated arm machines market is highly consolidated. The leading four manufacturers account for the lions share in the global articulated arm machines market. Hexagon AB and Faro Technologies, Inc. are identified as the two leading articulated arm machines manufacturers worldwide. Other players including Nikon Metrology Inc., Carl Zeiss Corporation, Renishaw Plc, Trescal SA, and Danish Micro Engineering A/S have been marked as promising and emerging players in the global articulated arm machine market. The market for articulated arm machines has been plagued by lack of product differentiation. Thus, to remain competitive in the market, manufacturers are required to focus on technology development and product innovations. While demand for portable CMMs has offered the necessary push to the market growth, manufacturers and industry experts have also predicted potential prospect for the optical articulated arms segment. In order to limit the effects of price sensitiveness, manufacturers are also focusing on developing a core value scheme around supply chain efficiencies and services.
Asia Pacific represents the most lucrative articulated machine market led by growing demand from China. Increasing use of articulated arms for precise engineering and digital inspection processes in aerospace and heavy engineering industries bodes well for market growth in the region. The growth in emerging economies like India and Thailand is expected to be spurred by strong demand from the automotive sector. To manufacture and assemble cars reliably and quickly, the automakers in the region are increasingly making use of articulated arms for the purpose of precision measurements and inspection activities. Industries like semiconductors, aerospace, and pharmaceuticals are placing great importance on precision engineering, necessitating the use of articulated arms and other metrology instruments.
- Resurgence in the industrial manufacturing and automotive sector post economic slowdown
- Growing demand for portable CMMs
- High Demand for Mid-range (US$ 30,000 – US$ 45,000) Articulated Arms
- Growing popularity of articulated arms with laser scanners and integrated software
- Demand for optical articulated arms.