LAMEA Industrial Metrology Market Size, Share & Industry Trends Analysis Report By Offering, By Equipment, By Application, By End-User (Automotive, Aerospace & Defense, Semiconductor, Manufacturing), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Industrial Metrology Market would witness market growth of 9.4% CAGR during the forecast period (2022-2028).
There is a rising demand for industrial metrology in the defense industry, aerospace industry, and construction industry. Recognition in the automotive sector, which has a high need for dependable and high-quality procedures, as well as the estimated increase in the necessity for industrial metrology in the automotive manufacturing industry, all contribute to the increased use of methodically precise equipment manufacturing. These breakthroughs can generate huge market potential. Government initiatives on smart cities also contribute to the expansion of the industrial metrology market.
As quality requirements have elevated, the naked eye has become incapable of assessing tolerances with the accuracy required to make the finest grade components. In industries where micron-level precision is necessary, such as the medical, aerospace, and electronics sectors, metrology technology such as Coordinate Measuring Machines (CMM) has been employed to perform exceedingly precise measurements.
Mining is a prominent industry in the LAMEA region. Mining operations present difficult circumstances for the majority of those in the precision measurement profession. The amount that can be covered using the older, more conventional mechanical procedures is constrained, and they depend largely on the operator's skill level. A laser tracker is used for inspecting, aligning, and rebuilding conveyor idlers, pulleys, and bearings, among other mining uses. The increasing adoption of metrology methods to streamline processing and hence increase revenue output has facilitated the growth of the industrial metrology market in the coming years.
The Brazil market dominated the LAMEA Industrial Metrology Market by Country in 2021; thereby, achieving a market value of $293.8 million by 2028. The Argentina market is showcasing a CAGR of 10% during (2022 - 2028). Additionally, The UAE market would register a CAGR of 9.1% during (2022 - 2028).
Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Equipment, the market is segmented into Coordinate Measuring Machine (CMM), Automated Optical Inspection, Measuring Instruments, Optical Digitizer & Scanner (ODS), X-ray & Computed Tomography, Form Measurement Equipment, and Others. Based on Application, the market is segmented into Quality Control & Inspection, Reverse Engineering, Mapping & Modeling, and Others. Based on End-User, the market is segmented into Automotive, Aerospace & Defense, Semiconductor, Manufacturing, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hexagon AB, Nikon Corporation, FARO Technologies, Inc., Carl Zeiss AG, Jenoptik AG, Keyence Corporation, Creaform, Inc. (AMETEK, Inc.), Renishaw PLC, Mitutoyo Corporation and KLA Corporation
Scope of the Study
Market Segments Covered in the Report:
- Coordinate Measuring Machine (CMM)
- Automated Optical Inspection
- Measuring Instruments
- Optical Digitizer & Scanner (ODS)
- X-ray & Computed Tomography
- Form Measurement Equipment
- Quality Control & Inspection
- Reverse Engineering
- Mapping & Modeling
By End User
- Aerospace & Defense
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Hexagon AB
- Nikon Corporation
- FARO Technologies, Inc.
- Carl Zeiss AG
- Jenoptik AG
- Keyence Corporation
- Creaform, Inc. (AMETEK, Inc.)
- Renishaw PLC
- Mitutoyo Corporation
- KLA Corporation
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