Categories: Market Research

Coordinate Measuring Machine Market Size, Opportunities, Trends And Demand 2024-2033

Overview and Scope

The coordinate measuring machine is used to measure the dimensions of machines and tool parts. A coordinate measuring machine (CMM) is an instrument that measures the geometry of real objects. It is commonly used to test a part or assembly to see if it adheres to the original design intent. The dimensions of manufactured components are checked using CMMs as part of workflows for quality assurance or quality control in order to prevent or address quality issues. The application of CMM over manual inspections or checks carried out with traditional metrology tools offers advantages in accuracy, rapidity, and a decreased risk of human mistakes.

Sizing and Forecast

The coordinate measuring machine  market size has grown strongly in recent years. It will grow from $3.43  billion in 2023 to $3.76  billion in 2024 at a compound annual growth rate (CAGR) of 9.7%.  The  growth in the historic period can be attributed to growth in automotive sector, rise in automation, rise in emphasis on sustainable manufacturing, shortened product development cycles, industrialization.

The coordinate measuring machine  market size is expected to see strong growth in the next few years. It will grow to $5.44  billion in 2028 at a compound annual growth rate (CAGR) of 9.6%.  The growth in the forecast period can be attributed to rising aerospace industry, growing medical sector, industry 4.0 and smart manufacturing adoption, rising demand for high-quality goods, . Major trends in the forecast period include non-contact metrology, 3d scanning and digitization, shop-floor cmms, multi-sensor cmms, portable cmms.

To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/coordinate-measuring-machine-global-market-report

Segmentation & Regional Insights

The coordinate measuring machine market market covered in this report is segmented –

1) By Type: Fixed CMM, Portable CMM

2) By Application: Inspection, Reverse Engineering

3) By Industry: Automotive, Aerospace, Heavy Machinery, Energy and Power, Electronics, Medical, Other Industries

Asia-Pacific was the largest region in the coordinate measuring machine market in 2023. The regions covered in the coordinate measuring machine market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7632&type=smp

Major Driver Impacting Market Growth

The expansion of the automotive sector is expected to propel the growth of the coordinate measuring machine market during the forecast period. The automotive industry refers to all businesses and endeavors concerned with the production of motor vehicles, including the majority of their parts, such as bodywork and engines. CMMs are used in the automotive industry to measure suspension hard points for use in vehicle dynamics simulations. For instance, according to the India Brand Equity Foundation, an Indian government export promotion agency, the total number of passenger vehicles, three-wheelers, two-wheelers, and quadricycles produced in January 2022 was 1,860,809 units. Also in 2023, the Indian government projects that the automotive sector will bring in $8–10 billion in domestic and foreign investment. Also, according to Crunchbase, a US-based prospecting platform for dealmakers, in 2020, Tesla, a US-based automotive and clean energy company, raised a total of $20.2 billion in funding over 35 rounds. Therefore, the expansion of the automotive sector will propel the growth of the coordinate measuring machine market.

Key Industry Players

Major companies operating in the coordinate measuring machine market market include  Carl Zeiss AG, Creaform Inc., Eley Metrology, FARO Technologies Inc., Hexagon AB, Keyence Corporation, Metronor AS, Mitutoyo Corporation, Nikon Metrology NV, Tokyo Seimitsu Co. Ltd., Perceptron Health Inc., WENZEL Group GmbH & Co. KG, Aberlink Ltd., Accurate Gauging & Instruments Pvt Ltd, Dukin Co. Ltd., Carl Zeiss AG, Applied Automation Technologies Inc., Avon-Dynamic, Velocity Machine Inc., Dimensional Engineering, Sipcon Instrument Industries, Helmel Engineering Products Inc., International Metrology Systems, N. J. Metrology Inc., Optical Gaging Products Inc., Renishaw plc, TESA SA, Trimek S.A., Werth Inc., Zett Mess Technik GmbH, Automated Precision Inc.

The coordinate measuring machine market report table of contents includes:

  1. Executive Summary
  2. Coordinate Measuring Machine Market Characteristics
  3. Coordinate Measuring Machine Market Trends And Strategies
  4. Coordinate Measuring Machine Market – Macro Economic Scenario
  5. Global Coordinate Measuring Machine Market Size and Growth

.

.

.

  1. Global Coordinate Measuring Machine Market Competitive Benchmarking
  2. Global Coordinate Measuring Machine Market Competitive Dashboard
  3. Key Mergers And Acquisitions In The Coordinate Measuring Machine Market
  4. Coordinate Measuring Machine Market Future Outlook and Potential Analysis
  5. Appendix

Explore the trending research reports from TBRC:

Top 5 Major Key Players Are:

  • Carl Zeiss AG
  • Creaform Inc
  • Eley Metrology
  • FARO Technologies Inc
  • Hexagon AB

Contact Us:

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 88972 63534

Americas: +1 315 623 0293

Email: info@tbrc.info

 

Follow Us On:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

Twitter: https://twitter.com/tbrc_info

Facebook: https://www.facebook.com/TheBusinessResearchCompany

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Blog: https://blog.tbrc.info/

Healthcare Blog: https://healthcareresearchreports.com/

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Good PR News

Recent Posts

Medical Terminology Software Market Share, Growth Opportunities, Demand Factors Report To 2033

The medical terminology software global market report 2024 from The Business Research Company provides comprehensive…

41 mins ago

Apples Market Expansion 2024-2033: Growth Drivers and Dynamics

The apples global market report 2024 from The Business Research Company provides comprehensive market statistics,…

42 mins ago

IP Video Surveillance And VSaaS Market Growth Analysis, Latest Trends And Business Opportunity 2024 To 2033

The ip video surveillance and vsaas global market report 2024 from The Business Research Company…

47 mins ago

Change And Configuration Management Market Expansion 2024-2033: Growth Drivers and Dynamics

The change and configuration management global market report 2024 from The Business Research Company provides…

51 mins ago

Generative AI In Gaming Market Share Analysis, Leading Players, Growth, Trends, And Forecast To 2033

The generative ai in gaming global market report 2024 from The Business Research Company provides…

58 mins ago

Electric Blankets Market Size, Emerging Trends, Market Opportunities, Key Players And Forecast To 2033

The electric blankets global market report 2024 from The Business Research Company provides comprehensive market…

1 hour ago