Coordinate measuring machines are flexible and universal dimensional measuring devices with the capability of integration into a CIM information network. These measuring machines are a form of metrological instrument for high precision measuring capabilities. The coordinate measuring machine can be operated and controlled manually or through computers. CMM measures the shape of the objects by recognizing the discrete points on the surface of the object with a probe. The various types of probes that are used in coordinate measuring machine are laser, optical, mechanical, and others.
Coordinate measuring machines are used to test components or assembly against the design fixed in manufacturing and assembly process. The three-dimensional measurement consisting of x, y, and z axes points are precisely recorded and analyzed via regression algorithm for the different type of construction or design of an equipment. The day-to-day advancement of industries requires highly precise and accurate measurement, which incurs huge cost and time. The design ranging from a small equipment to large, needs accuracy. The various activities such as measurement of objects for testing, design, assessment, or reverse engineering, and others can be easily performed using these devices.
The factors such as rise in adoption of CAD/CAM and international quality standards, shortage of skilled precision machine operators, lack of applicability of existing measuring equipment, and increase in demand for capturing large volumes of 3-D data for modelling & analysis drive the global CMM market. However, lack of universal system that can be applied across different sectors and high risk of changes in regional market growth trend & potential hamper the market growth. Further, growth in outsourcing trend for dimensional inspection in medical sector and market development in emerging economies provide lucrative opportunities for the global CMM market in future.
Coordinate measuring machine market is segmented on the basis of offering, product type, application, end user, and region. On the basis of offering, it is categorized into products and services. By product type, it is bifurcated into stationary and portable. Stationary is further categorized into bridge, cantilever, horizontal arm, and gantry. Portable is sub-segmented into articulated arms and handheld. Based on application, it is bifurcated into inspection and reverse engineering. Based on end user, it is segregated into automotive, aerospace & defense, energy & power, electronics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include Carl Zeiss AG, Creaform Inc., Eley Metrology, FARO Technologies, Inc. Hexagon AB, Keyence Corporation, Metronor, Mitutoyo Corporation, Nikon Metrology, and Tokyo Seimitsu Co. Ltd. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.
KEY MARKET SEGMENTS
By Type
By Application
By End Use
By Region
Key Market Players
Coordinate measuring machines are used to test components or assembly against the design fixed in manufacturing and assembly process. The three-dimensional measurement consisting of x, y, and z axes points are precisely recorded and analyzed via regression algorithm for the different type of construction or design of an equipment. The day-to-day advancement of industries requires highly precise and accurate measurement, which incurs huge cost and time. The design ranging from a small equipment to large, needs accuracy. The various activities such as measurement of objects for testing, design, assessment, or reverse engineering, and others can be easily performed using these devices.
The factors such as rise in adoption of CAD/CAM and international quality standards, shortage of skilled precision machine operators, lack of applicability of existing measuring equipment, and increase in demand for capturing large volumes of 3-D data for modelling & analysis drive the global CMM market. However, lack of universal system that can be applied across different sectors and high risk of changes in regional market growth trend & potential hamper the market growth. Further, growth in outsourcing trend for dimensional inspection in medical sector and market development in emerging economies provide lucrative opportunities for the global CMM market in future.
Coordinate measuring machine market is segmented on the basis of offering, product type, application, end user, and region. On the basis of offering, it is categorized into products and services. By product type, it is bifurcated into stationary and portable. Stationary is further categorized into bridge, cantilever, horizontal arm, and gantry. Portable is sub-segmented into articulated arms and handheld. Based on application, it is bifurcated into inspection and reverse engineering. Based on end user, it is segregated into automotive, aerospace & defense, energy & power, electronics, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include Carl Zeiss AG, Creaform Inc., Eley Metrology, FARO Technologies, Inc. Hexagon AB, Keyence Corporation, Metronor, Mitutoyo Corporation, Nikon Metrology, and Tokyo Seimitsu Co. Ltd. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.
KEY MARKET SEGMENTS
By Type
- Contact
- Float Switches
- Conductive Level Switches
- Vibrating Forks
- Others
- Non-Contact
- Ultrasonic
- Optical Level
- Microwave
- Laser
By Application
- Point Level Monitoring
- Capacitance
- Optical
- Conductivity
- Vibrating (Tuning Fork)
- Float Switch
- Continuous Level Monitoring
- Ultrasonic
- Radar (Microwave)
By End Use
- Automotive
- Aerospace & Defense
- Energy & Power
- Healthcare
- Industrial
- Others
By Region
- North America
- U.S.
- Mexico
- Canada
- Europe
- UK
- Germany
- Italy
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- Australia
- India
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- ABB Ltd.
- AMETEK Inc.
- Emerson Electric Co.
- Endress+Hauser Management AG
- Honeywell International Inc.
- Siemens AG
- Taiwan Semiconductor Manufacturing Company Limited
- TE Connectivity
- Texas Instruments
- Vega Grieshaber Kg
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Coordinate Measuring Machines Market, By Offering
Chapter 5: Coordinate Measuring Machines Market, By Product Type
Chapter 6: Coordinate Measuring Machines Market, By Application
Chapter 7: Coordinate Measuring Machines Market, By End User
Chapter 8: Coordinate Measuring Machines Market, By Region
Chapter 9: Competitive Landscape
Chapter 10: Company Profiles: Auto Makers
Executive Summary
A new report titled, 'Coordinate Measuring Machine Market by Offering, Product Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2019-2026,'projects that the global coordinate measuring machines market size is estimated to reach $5.34 billion by 2026. In 2018, Asia-Pacific dominated the market, contributing around 50% share of the overall revenue, followed by North America. A coordinate measuring machinery is used for measuring the geometrical characteristics of a physical object. These can be manually controlled or can be controlled by computer programming and instructions.Coordinate measuring machine are a form of metrological instrument for high precision measuring capabilities. The coordinate measuring machine can be operated and controlled manually or through computers. CMM measures the shape of the objects by recognizing the discrete points on the surface of the object with a probe. The various types of probes that are used in coordinate measuring machine are laser, optical, mechanical, and others.
In CMM market, coordinate measuring machines are used to test components or assembly against the design fixed in manufacturing and assembly process. The application of CAD in the coordinate measuring machine uses the software developed by the computer to carry out advanced measurement test. Nano precision configuration of CMM has a strong function of CAD software which import the CAD model to be measured. The advancement of industrial application requires highly precise and accurate measurement that uses CMM. 3D model is a great tool that is adopted by designers and manufacturers for creating 3D designs and models. This saves capital of industrialists and creates a physical model for testing. The physical model created is tested by the coordinate measuring machines that are programmed for autonomous operations, which drives the CMM market.
According to coordinate measuring machine market, the inspection segment accounted for a significant share of the overall Coordinate measuring machines market in 2018. This is attributed to increase in demand for physical measurement of products and equipment in various industrial applications. However, reverse engineering segment is estimated to grow significantly at a CAGR of 8.20% during the forecast period, owing to increase in its application in automotive aerospace & defense and other industry vertical, which provides lucrative coordinate measuring machine market opportunity globally.
Among various regions, Asia-Pacific is expected to be the major revenue generator in coordinate measuring machine market in 2019 and maintain its dominance in the future. This is attributed to rise in industrial sector and its automation.
Asia-Pacific is projected to grow at the fastest rate throughout the Coordinate Measuring Machine Market analysis period. China witnessed the highest demand for coordinate measuring machines in this region due to presence of semiconductor companies in the country and stringent government regulations associated with measurement industries. Moreover, enhancement in industrial autonomy and increase in expenditure in the emerging markets such as Latin America and the Middle East to meet demand for exponentially growing economies in these countries have strengthened the market growth. Furthermore, technological advancements for high precision applications in these nations offer lucrative opportunity for the expansion of the coordinate measuring machines industry.
Coordinate measuring machine market size is segmented on the basis of offering, product type, application, end user, and region. Based on offering, it is categorized into products and services. By product type, it is bifurcated into stationary and portable. Stationary segment is further categorized into bridge, cantilever, horizontal arm, and gantry. Portable is sub-segmented into articulated arms and handheld. On the basis of application, it is bifurcated into inspection and reverse engineering. Based on end user, it is segregated into automotive, aerospace & defense, energy & power, electronics, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Findings of the Coordinate Measuring Machine Market:
The inspection segment accounted for the highest coordinate measuring machine market share in 2018 with $417.1 million, growing at a CAGR of 14.70% from 2019 to 2026.
The inspection generated the highest revenue, accounting for $2,318.40 million in 2018.
Asia-Pacific is expected to dominate the Coordinate Measuring Machine Market, garnering 50% of the share in the coordinate measuring machine industry during the forecast period.
The key players profiled in the Coordinate Measuring Machine Market forecast include Carl Zeiss AG, Creaform Inc., Eley Metrology, FARO Technologies, Inc., Hexagon AB, Keyence Corporation, Metronor, Mitutoyo Corporation, Nikon Metrology, and Tokyo Seimitsu Co. Ltd.
Companies Mentioned
- Carl Zeiss AG
- Creaform Inc.
- Eley Metrology
- FARO Technologies Inc.
- Hexagon AB
- Keyence Corporation
- Metronor
- Mitutoyo Corporation
- Nikon Metrology
- Tokyo Seimitsu Co. Ltd.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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