The global inline metrology market is expected to grow from USD 390 million in 2020 to USD 801 million by 2025, at a CAGR of 15.5%
NEW YORK, June 8, 2020 /PRNewswire/ --
Inline metrology market expected to grow at significant rate from 2020 to 2025
The global inline metrology market is expected to grow from USD 390 million in 2020 to USD 801 million by 2025, at a CAGR of 15.5%. The growth of the inline metrology market is driven by the factors such as increasing global adoption of smart metrology solutions, rising global spending on research and development activities for automation technologies, and growing use of smart 3D sensors worldwide.
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Quality control and inspection application to hold largest market share in 2025
The quality control and inspection application is expected to hold largest share of the inline metrology market in 2025.Manufacturing companies are outsourcing inspection and quality control services to reduce measurement time, eliminate measurement uncertainty, enable process stability, and enhance test instrument capability.
The high costs incurred in setting up metrology facilities and the lack of inline metrology experts are the factors expected to hinder the growth of the inline metrology market globally.
Energy & power industry to exhibit highest CAGR during forecast period
The inline metrology market for the energy & power industry is expected to grow at the largest CAGR during the forecast period.Inline metrology systems can be used to inspect and verify the geometric integrity of parabolic solar mirrors to maximize the power generation output.
Similarly, inline metrology is used to inspect wind turbine blades and verify the blade shape for optimum energy conversion. As quality is an essential factor that determines the efficiency of parts such as wind turbines, solar panels, and hydro turbines, inline metrology is preferred for fast and accurate measurements.
APAC to hold largest market share during forecast period
APAC is expected to be the largest market for inline metrology during the forecast period.High per capita income and rapid industrialization and urbanization at a large scale are some of the major factors driving the growth of the market in APAC.
Also, funding for research and developments in automation and associated technologies and the presence of an extensive industrial base are the major factors that make APAC a dynamic region for the growth of the inline metrology market. China and Japan are the key contributors to the inline metrology market growth in APAC.
Breakdown of profile of primary participants:
• By Company Type: Tier 1 = 40%, Tier 2 = 25%, and Tier 3 = 35%
• By Designation: C-level Executives = 45%, Directors = 25%, and Others = 30%
• By Region: North America = 55%, Europe = 20%, APAC = 15%, and RoW = 10%
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 a few of the key players in the inline metrology market.
Research Coverage
The inline metrology market has been classified into offering, product, application, industry, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the inline metrology industry and forecasts the same till 2025.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways.
1. This report segments the inline metrology market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different industries and regions.
2. The report helps stakeholders understand the pulse of the market and provides them the information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their positions in the business. The competitive landscape section includes competitor ecosystem, product launches, partnerships/ collaboration/agreements, and mergers and acquisitions carried out in the inline metrology market.
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