Metrology Services Market is Expected to Reach USD 720.3 Million Globally in 2018: Transparency Market Research

 Metrology Services Market is Expected to Reach USD 720.3 Million Globally in
                      2018: Transparency Market Research

  PR Newswire

  ALBANY, New York, August 26, 2013

ALBANY, New York, August 26, 2013 /PRNewswire/ --

According to a new market report published by Transparency Market Research "
Metrology Services Market - Global Industry Analysis, Size, Share, Growth,
Trends,  a nd Forecast, 2012 - 2018 ," the global metrology services market
is expected to reach USD 720.3 million by 2018, growing at a CAGR of 8.2% from
2012 to 2018. Increased focus on precision and accuracy in manufacturing
processes has led to the growth of metrology services market. Considering the
complexity of the manufactured parts, it is important to have one or more
measurement technologies to ensure accurate measurements in order to
improve/maintain quality of the product. Metrology services market is
witnessing strong growth from end user industries such as automotive sector,
aerospace, and power generation industry.

Browse the full report at 
http://www.transparencymarketresearch.com/metrology-services-market.html

The global metrology services market is segmented by product type into two
major categories as coordinated measuring machines (CMM) and optical
digitizers and scanners (ODS). Metrology services market for CMM is expected
to grow at a CAGR of 7.2% from 2012 to 2018. Increasing demand for CMM related
services such as machine installation, calibration, retrofitting, and
repairing among others is supporting the growth of metrology services market.
ODS, which is the largest and fastest growing segment, is expected to grow at
a CAGR of 8.9% from 2012 to 2018 and reach the market size of USD 435.8
million by 2018. Among all the product segments of ODS, the demand for 3D
laser scanners is highest as it offers measurement with precision of difficult
geometries with the help of touch probe technology. 3D laser scanners
accounted for the total share of around 35.1% of the total ODS market in 2012.

Among the end user industries, industrial segment that comprises processing
industries, metal fabrication industry, and others is the largest contributor
to the global metrology services market. This segment accounted for around 28%
share of the total metrology services market in 2012. Automotive industry is
expected to be the fastest growing end user segment and is expected to grow at
a CAGR of 8.7% from 2012 to 2018. Technological advancement in automotives has
increased the level of precision of the parts and components, thus creating
the demand for metrology products and services.

Europe was the leading regional market in 2012 and accounted for around 31%
share of the global metrology services market. Increased demand for metrology
services in industrial and aerospace applications in Europe was majorly
responsible for its leading share in global market. Asia Pacific is expected
to grow at a CAGR of 9.2% from 2012 to 2018 and surpass Europe and North
America by 2013 to become the leading regional market for metrology services.
This growth is mainly fuelled by the demand from booming automotive industry
in Asia Pacific along with other end use industries including manufacturing,
medical, and others.

Some of the leading players in metrology services market include Hexagon AB,
Carl Zeiss, Mitutoyo Corporation, Nikon Corporation, Renishaw, Faro
Technologies, and others. Hexagon was the market leader in global metrology
services market in 2012 followed by Carl Zeiss.

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The global metrology services market is segmented as below:

Metrology Services Market

By product type

Coordinated measuring machines (CMM)

- Gantry machines

- Bridge machines

- Articulated arm machines

- Horizontal arm machines

Optical digitizers and scanners (ODS)

- 3D laser scanners

- White light scanners

- Laser trackers

By end use industry

- Automotive

- Aerospace

- Industrial

- Power generation

- Others (electronics, heritage preservation, animation applications, so on)

By geography

- North America

- Europe

- Asia Pacific

- Rest of the World (RoW)

Browse all Energy Market Research Reports @
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