The Latin America, Middle East and Africa Metrology Services Market would witness market growth of 9.9% CAGR during the forecast period (2022-2028).
Important industrial companies combine and integrate their cutting-edge metrology equipment appropriate to the need and recruit a system specialist, which ultimately lowers long-term manufacturing costs. The development of portable metrology equipment and software-driven process automation for industry-specific customized services have accelerated market expansion.
The need for CAM and CAD-based processes is expected to increase due to the requirement for high precision and fewer tolerance limitations in the automotive, medical, electronics, aerospace, and other industrial sectors. Power generation, electronics, and the automobile industries all need components with tight tolerances and high precision.
The need for metrology services and equipment is also being driven by an increase in the global quality requirements for precise management across the whole industry arena. The consumption of luxury items and completed products has been considerably influenced by the sustained rise in individual disposable income, particularly in emerging nations.
Colombia operates one of the largest automotive industries in Latin America, following Brazil and Argentina. The strengthening of roadway infrastructure, improved political climate, and increased economic output in Colombia have all aided the industry's expansion. The region's auto parts sector has also expanded. This increase is ascribed to decreased economic uncertainty and the improved performance that resulted from lower inflation rates, increased consumer confidence, and lower borrowing costs.
The Brazil market dominated the LAMEA Metrology Services Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17.1 million by 2028. The Argentina market is estimated to grow at a CAGR of 10.5% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 9.6% during (2022 - 2028).
Based on Application, the market is segmented into Industrial, Automotive, Aerospace, Power Generation and Others. Based on Product, the market is segmented into ODS and CMM. Based on ODS Type, the market is segmented into 3D Laser Scanners, Laser Trackers and White Light Scanners. Based on CMM Type, the market is segmented into Gantry Machines, Bridge Machines, Horizontal Arm Machines and Articulated Arm Machines. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Metrology Services Market is Predict to reach $1 Billion by 2028, at a CAGR of 6.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Atos Group, Automation Anywhere, Inc., Blue Prism Group PLC (SS&C Technologies Holdings, Inc.), Cognizant Technology Solutions Corporation, Genpact Limited, Infosys Limited, IPsoft, Inc., Kofax, Inc. (Thoma Bravo LLC), Be Informed BV, and Cicero, Inc.(Alvaria, Inc.)
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