According to a new market report published by Credence Research, Inc. “Metrology Software Market (By End-use Application (Industrial Manufacturing, Electronics and Electrical, Automotive, Aerospace, Energy and Power, and Other End-use Applications), By Geography (North America, Europe, Asia Pacific, and Rest of World) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the global metrology software market is expected to expand at a steady growth rate from 2016 to 2023, exceeding US$ 652.1 Mn by 2023.
Browse the full Metrology Software Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at https://www.credenceresearch.com/report/metrology-software-market
Metrology is concerned with practical as well as theoretical aspects of measurement. Metrology software solutions are witnessing growing adoption among varied verticals on account of superior benefits offered in terms of flexibility and accuracy. In addition, their ability to integrate multiple functions within a single unit, thereby making equipment compact is further favoring their adoption in different verticals. The prevailing trend towards precise engineering has also been instrumental in driving demand for metrology software solutions across the globe. Manufacturers across the globe are increasingly implementing Computer Aided Design and Computer Aided Manufacturing (CAD/CAM) based processes for minimizing the overall cost and building design time, thus leading to the growth of metrology software market.
The metrology software market is facing the threat of growing consolidation as the leading players like Hexagon AB and Nikon Metrology, Inc. strive for strategic partnerships and acquisitions, leaving handful of vendors offering metrology software solutions. However, with growing demand for precision engineering and drive towards a one-stop shop strategy, we expect the number of vendors to swell in the coming years. Hexagon AB and Nikon Metrology, Inc. are identified as the leading metrology software vendors worldwide. Other players including Renishaw Plc, Carl Zeiss AG, AICON 3D Systems GmbH, 3D Systems Corporation, Faro Technologies, Inc., Konica Minolta Sensing Inc., Innovative Metrology Solutions, Kotem Technologies Inc., Micro-Vu Corporation, Metrologic Group SA, GE Measurements & Control Solutions, Verisurf Software Inc., and Rudolph Technologies Inc. among others have been marked as promising and emerging players in the global metrology software market.
- Trend towards complete automation in manufacturing units
- Increasing use in manufacture of high precision components and parts of automotives and aircrafts
- Growing use of non-contact inspection systems in manufacture of electrical and electronic devices
- Demand for laser-based 3D metrology
- Strong growth in the Electronics and Electrical Segment
- Demand for precision engineering driving innovations in metrology software