Turning Data Into Action: The Future Of the Inline Metrology Market
The inline metrology market was valued at USD 410 million in 2019 and is projected to reach USD 801 million by 2025; it is expected to grow at a CAGR of 15.5% from 2020 to 2025. Increasing adoption of smart metrology solutions, growing research and development spending, and rising use of smart 3D sensors are the key factors driving the growth of the inline metrology market.
Inline Metrology Market Dynamics:
Driver: Rising global spending on research and development activities for automation technologies
The increasing global spending on research and development activities for automation technologies has resulted in growth opportunities for a number of measurement companies. In the field of electronics, continuous research and development activities have led to a rapid rate of technological changes. With rapid advancements in technologies, new products are being continuously launched in the market. It is essential for the players to be innovative and focus on research and development activities to be able to develop new products to remain competitive in the market.
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Restraint : Lack of expertise to handle inline metrology systems efficiently
All types of inline metrology equipment require a high level of technical expertise depending on the industry wherein they are to be used and the type of products and components which are to be analyzed or inspected. There are a limited number of inline metrology experts available owing to the lack of training centers or industry-specific certification courses.
Opportunity:Growing demand for customized solutions from automobile manufacturers
With the advent of Industry 4.0 and smart factories, automation of various systems and processes is becoming increasingly important for the manufacturing industry, especially for visual inspection. The automotive industry produces components in bulk that require to be repeatedly and quickly inspected for quality. Such automated inspection equipment makes use of vision systems to ensure high-speed and accurate inspection of different automobile parts.
The North American region is projected to Grow at the second largest market share during the forecast period
North America is likely to continue to procure the second-largest share of the global inline metrology market during the forecast periods. The rapid growth of the aerospace and automotive industries and the robust presence of many distributors of metrology equipment are the chief factors supporting the growth of the North American market.
The report profiles the most promising players in the Inline Metrology Market. The markets competitive landscape presents an interesting picture of strategies adopted by many players. Hexagon AB (Hexagon) (Sweden), Carl Zeiss (Germany), Perceptron (US), ABB Group (Switzerland), KUKA (Germany), Nikon Metrology (Belgium), AMETEK (US), LMI Technologies (US), Cognex (US), Jenoptik (Germany), KLA Corporation (US), FARO Technologies (US), and Renishaw are key players in the inline metrology market.
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