Metrology Services Market Size, Share & Forecast by 2022-2028

Global Metrology Services Market Size, Share & Industry Trends Analysis Report By Application (Industrial, Automotive, Aerospace, Power Generation and Others), By Product (ODS and CMM), By Regional Outlook and Forecast, 2022 - 2028

Published Date: November-2022 | Number of Pages: 261 | Format: PDF | Report ID: KBV-20955

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COVID-19

Get in-depth analysis of the COVID-19 impact on the Metrology Services Market

Market Report Description

The Global Metrology Services Market size is expected to reach $1 billion by 2028, rising at a market growth of 6.1% CAGR during the forecast period.

Metrology is described by the international bureau of weights (BIPM) as the science of measuring, covering both theoretical and experimental determinations at any uncertainty level in any sector of science and technology. It creates a shared understanding of units, which is important for human action.

Metrology Services Market Size - Global Opportunities and Trends Analysis Report 2018-2028

The definition of globally recognized units of measurement, the practical implementation of these units of measurement, and the use of chains of traceability are the three fundamental activities that can be used to summarize the broad area of metrology. The primary areas of metrology include scientific metrology, applied, industrial or technical metrology, and legal metrology, all bearing some degree of these notions.

The expansion of metrology services is expected to be aided by rising demand from power generation and industrial applications. Growth is anticipated to be supported by both technology developments and the increased demand for completed goods. Metrology is highly regarded in the standardization processes across various industries because of international involvement from many regulatory bodies.

National laboratories that are internationally coordinated by the BIPM, such as the National Institute of Metrology, Quality and Technology (Inmetro, Brazil), and the National Institute of Standards and Technology (NIST, USA), coordinate the metrology activities. The Versailles Project on Advanced Materials and Standards (VAMAS), for which the main goal is to support trade in high-tech products, is one of the organizations working alongside the International Organization for Standardization (ISO) to coordinate standardization.

COVID-19 Impact Analysis

The COVID-19 pandemic had a negative impact on the metrology services market. The pandemic had forced a number of companies from a variety of industries to adjust their consumer reach and rethink their engagement strategy. To address existing and upcoming measurement issues in the automotive and energy sectors, businesses are also relying on offering onsite equipment and engineering services. As a result, end-use sectors have made some game-changing decisions in the post-pandemic era, opening up new opportunities for the market for metrology services. Real-time data analysis of measurements is made possible by the growing use of autonomous robots in manufacturing. This enables simple measurement in laboratories and regular quality checks.

Market Growth Factors

Increase In Demand Of Industry 4.0 Leading To An Increase In Smart Industries

The concept smart factory commonly referred to as "Industry 4.0," describes a new stage in the industrial revolution that combines the manufacturing and information technology sectors, as well as all operations that are related to these two domains. In order to raise productivity overall, industrial facilities employ it to maximize asset usage, minimize downtime, and boost worker effectiveness. This is expected to enhance operations at every level of the supply chain, starting with the research and development phase and moving all the way up to the end-user phase.

Additional Business Opportunities Because Of The Growing Demand In The Energy Industry

Metrology services refer to a wide range of inspection, monitoring, and engineering services that are provided to a variety of industries. Some of these industries include the energy industry, the power-generating industry, and the automobile industry. The energy sector is one of the application sectors that has been consistently contributing to the expansion of metrology services. There are a variety of different business propositions that are fueling the need for such services.

Marketing Restraining Factor

Integration Gaps In Metrology Interfaces

Interfaces between mechanical, electrical, and information technologies are crucial at the sensor level. The interfaces can only be standardized to a limited degree because they vary greatly based on the various measurement methods used. It is difficult to change the operational processes and production systems of an existing manufacturing facility. Other significant obstacles to the adoption of in-process measurement include data analysis and data transfer.

Metrology Services Market Share and Industry Analysis Report 2021

Product Outlook

Based on the product, the metrology services market is categorized into CMM and ODS. The optical digitizer and scanner (ODS) segment acquired the highest revenue share in the metrology services market in 2021. For engineering and inspection applications, laser scanners can capture a full geometry. They provide enhanced speed and excellent precision in real-time operation.

Application Outlook

On the basis of application, the metrology services market is fragmented into automotive, aerospace, industrial, power generation, and others. The automotive segment recorded a substantial revenue share in the metrology services market in 2021. This is the outcome of improvements in automotive technology that have boosted component precision. To enhance passenger comfort, safety, and happiness, every door, seat, component, and a panel of an automobile should be precisely aligned.

Metrology Services Market Report Coverage
Report Attribute Details
Market size value in 2021 USD 675.7 Million
Market size forecast in 2028 USD 1 Billion
Base Year 2021
Historical Period 2018 to 2020
Forecast Period 2022 to 2028
Revenue Growth Rate CAGR of 6.1% from 2022 to 2028
Number of Pages 261
Number of Tables 460
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling
Segments covered Application, Product, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • Increase In Demand Of Industry 4.0 Leading To An Increase In Smart Industries
  • Additional Business Opportunities Because Of The Growing Demand In The Energy Industry
Restraints
  • Integration Gaps In Metrology Interfaces.

Regional Outlook

Based on region, the metrology services market is analyzed across, North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed the largest revenue share in the metrology services market in 2021. This region is home to a sizable number of automobile manufacturers. The majority of automotive firms utilize metrology services for assessment in a production factory for vehicle assembly operations to prevent quality problems during the manufacturing of a new vehicle.

Free Valuable Insights: Global Metrology Services Market size to reach USD 1 Billion by 2028

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.)

Scope of the Study

Market Segments Covered in the Report:

By Application

  • Industrial
  • Automotive
  • Aerospace
  • Power Generation
  • Others

By Product

  • ODS
    • 3D Laser Scanners
    • Laser Trackers
    • White Light Scanners
  • CMM
    • Gantry Machines
    • Bridge Machines
    • Horizontal Arm Machines
    • Articulated Arm Machines

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • 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
  • Cicero, Inc.(Alvaria, Inc.)

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Related Reports:

North America Metrology Services Market Report 2022-2028

Europe Metrology Services Market Report 2022-2028

Asia Pacific Metrology Services Market Report 2022-2028

LAMEA Metrology Services Market Report 2022-2028

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