Published Date: 30-Sep-2022
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According to a new report, published by KBV research, The Global Coordinate Measuring Machine (CMM) Market size is expected to reach $4.6 billion by 2028, rising at a market growth of 9.0% CAGR during the forecast period.
The Portable market is poised to grow at a CAGR of 11.4% during (2022 - 2028). The heavy machinery, automotive, and energy & power sectors are adopting portable CMMs more frequently because they are simple to use and provide the greatest amount of flexibility for performing metrology tasks. An articulated arm's operation is simpler, and it has a great degree of flexibility for performing metrology tasks.
The Automotive market is leading the Global Coordinate Measuring Machine (CMM) Market by Industry 2021; thereby, achieving a market value of $1.1 billion by 2028. The increasing demand for vehicles, particularly from developing nations has prompted automakers and OEMs to choose automation as a way to boost production and satisfy consumer demand. The preference for near-line or in-line measuring techniques over off-line quality inspection, which enables larger sample rates and quicker inspection periods in the automobile industry, is also anticipated to drive the CMM market.
The Asia Pacific market dominated the Global Coordinate Measuring Machine (CMM) Market by Region 2021; thereby, achieving a market value of $1.7 billion by 2028. The Europe market is estimated to grow at a CAGR of 8.4% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 8.5% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Keyence Corporation, Carl Zeiss AG, Nikon Corporation, FARO Technologies, Inc., Hexagon AB, Tokyo Seimitsu Co., LTD. (ACCRETECH), Creaform, Inc. (AMETEK, Inc.), Perceptron, Inc. (Atlas Copco AB), Mitutoyo Corporation, WENZEL Group GmbH & Co. KG.
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