|By PR Newswire||
|February 19, 2014 01:09 PM EST||
DUBLIN, February 19, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/js6m9q/metrology) have announced the addition of the "Concise Analysis of the International Metrology Services Market - Forecasts to 2018" report to their offering.
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Metrology refers to the measurement services offered to various end use industries such as automotive, aerospace, manufacturing, and power generation among others. The global metrology services market is expected to grow at a CAGR of 8.2% during the forecast period from 2012 to 2018 and reach the market size of USD 720.3 million in 2018. Need for precisely measured components across different industry verticals including electronics industry, power generation industry, automotive sector, and others is creating the demand for metrology services, globally.
Metrology services are beneficial in increasing efficiency by optimizing productivity without affecting the resource requirements. Different types of metrology products can be used independently or as an integrated system for quality control and inspection, 3D measurement, product quality optimization, reverse engineering, and others during manufacturing process. High precision equipments pose a significant challenge to the manufacturers to keep their inventory at par due to their high costs. This has given rise to a service industry where third party vendors offer measurement services to the manufacturers.
The metrology services market is segmented into two major categories based on product type namely coordinated measuring machines (CMM) and optical digitizers and scanners (ODS). Global metrology services market for CMM is expected to grow at a CAGR of over 7% from 2012 to 2018 while metrology services market for ODS is expected to show the growth rate of around 9% during the same forecast period. This is because ODS provides more precision for measurement of difficult geometries with touch probe accuracy. Among all the ODS products, demand for 3D laser scanners is highest due to its high accuracy and better preciseness.
The rise in industrialization in Asia Pacific in the past few years has significantly contributed to the growth of the metrology services market. The rapidly booming automotive industry in Asia Pacific is the largest contributor to the global metrology services market.
Key Topics Covered:
2 Executive Summary
3 Global Metrology Services Market Overview
4 Global Metrology Services Market, by Products
5 Global Metrology Services Market, by End-user Applications
6 Global Metrology Services Market, by Geography
7 Key Competitors Analysis
8 Company Profiles
- Carl Zeiss Corporation
- Danish Micro Engineering A/S
- FARO Technologies, Inc
- Hexagon AB
- Nikon Metrology Inc
- Optical Gaging Products, Inc
- Optical Metrological Services
- Renishaw Plc
- Trescal SA
For more information visit http://www.researchandmarkets.com/research/js6m9q/metrology
Media Contact: Laura Wood, +353-1-481-1716, [email protected]
SOURCE Research and Markets