Demand for portable CMM (Coordinate Measuring Machine) software, growing acceptance for point cloud capabilities, and drive towards precision engineering are collectively driving adoption of metrology software solutions across the globe. In addition, their ability to integrate multiple functions within a single unit, thereby making device compact has further fueled market momentum in different verticals. These factors are expected to contribute towards a single digit compounded annual growth rate (CAGR) during the forecast period 2016 – 2023. The global metrology software market is expected to exceed US$ 652.1 Mn by 2023.
Report Scope
This report analyzes the global metrology software market in terms of end-use application and geography. On the basis of end-use application, the market for metrology software is further classified into industrial manufacturing, automotive, electrical and electronics, aerospace, and energy and power, and healthcare among others. The geographical distribution of the global metrology software market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
1.1 Report Description
Purpose of the Report
The purpose of this strategic research study titled “Global Metrology Software Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global metrology industry.
Target Audience
USP and Key Offerings
The report titled “Global Metrology Software Market- Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” offers strategic insights into the global metrology software market along with the market size and estimates for the duration 2014 to 2023. The said research study covers in-depth analysis of multiple market segments based on applications and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading metrology software vendors their SCOT (Strength, Challenges, Opportunities, and Weaknesses) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global metrology software market, offering market size and estimates for the period from 2014 to 2023, keeping in mind the above mentioned factors.
The growing trend towards complete automation of manufacturing facilities is instrumental in driving adoption of metrology equipment and software solutions in the industrial segment. Industry verticals including automotive, electrical and electronics, pharmaceuticals, and aerospace are all expected to register strong growth over the forecast period 2016 – 2023. The need for accurate measurements in the manufacture of components in automobiles and aircrafts bodes well for the market growth in automobile and aerospace segments. Similarly, compliance with the enacted government regulations and standards supporting safety and reliability necessitates consumer electronics manufacturers to focus on precision and accuracy while manufacturing. This, in turn has had positive impact on the overall demand for metrology software solutions.
In the base year of 2015, North America dominated the world metrology software market followed by Europe and Asia Pacific respectively. The U.S. is the largest and the most attractive metrology software market worldwide. The trend is expected to prolong and the region (North America) is estimated to witness healthy growth during the forecast period 2016 – 2023. High technology acceptance across key end-use verticals such as automotive and aerospace is instrumental in fueling market demand in the region. Over the forecast period 2016 – 2023, the region is expected to remain the largest metrology software market worldwide. On the other hand, Asia Pacific is poised to exhibit robust growth, outpacing North America and Europe during the forecast period 2016 – 2023. The anticipated growth is primarily expected to come from the growing industrial sector in the region. China and India are slated to become the most lucrative metrology software market worldwide by 2023.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Metrology Software market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
End-use Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
