About Coordinate Measuring Machine (CMM)
Coordinate Measuring machine (CMM) are devices used for measuring the physical geometrical characteristics of an object. It consists of our major components: computer control system, software, the machine and, probe contact or non-contact. Coordinate Measuring machine (CMM) market is expected to mark significant growth over forecasted period owing to increasing consumers spending on measuring machines such as scribing, gauging, scanning and light drilling and technological advancement The major companies are adding more proven technologies systematically and strategically in Asia-Pacific countries as these countries are focused on fastest-growing verticals in the industrial and infrastructure/building sector.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 8.32% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Coordinate Measuring Machine (CMM) market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hexagon AB (Sweden), Faro Technologies (United States), Nikon Corporation (Japan), Keyence Corporation (Japan), Carl Zeiss (Germany), Mitutoyo Corporation (Japan), GOM (Gesellschaft für Optische Messtechnik) (Germany), Perceptron (United States), Creaform, Inc. (Canada), International Metrology Systems (United Kingdom), Metronor (United States), Trimek (Spain) and Applied Automation Tech (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Wenzel (Germany), N. J. Metrology (United Kingdom), Avon-Dynamic (United Kingdom), Eley Metrology Limited (United Kingdom) and The Sempre Group (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Coordinate Measuring Machine (CMM) market by Type (Bridge, Articulated-Arm, Horizontal Arm, Cantilever, Gantry and Handheld), Application (Quality Control & Inspection and Reverse Engineering) and Region.
On the basis of geography, the market of Coordinate Measuring Machine (CMM) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement.
If we see Market by , the sub-segment i.e. will boost the Coordinate Measuring Machine (CMM) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Value Oriented Consumers and Collaboration and Tie Up Of Leading Players
Market Growth Drivers:
Increase Number of Application for Inspection Purposes of Components and Parts at Different End Users. and Rise in Applications of Metrology in Power Sector Boost the Market.
Challenges:
Limitation Due to Lack of Awareness among the Customers are Anticipated to Challenge the Market. and Lack of Skilled Labours Hampers the Global Market.
Restraints:
Stiff Competition between the Major Players Hampers the Market. and High Cost Associated Within Coordination Measuring Machines.
Opportunities:
Proliferation of Non-Contact Probing Technology Leads to Grow the Coordinate Measuring Machine Market. and Upsurge Demand of Coordinate Measuring Machine from Defense and Aerospace Segment.
Market Leaders and their expansionary development strategies
In April 2022, LK Metrology and Wenzel Technologies entered into a strategic partnership with immediate effect. In addition to joint technological cooperation, Wenzel Technologies will sell LK’s innovative, high-performance coordinate measuring machines (CMMs) and other metrological products
In April 2023, Hexagon’s Manufacturing Intelligence division today announced the launch of its new generation of Leitz PMM-C ultra-high accuracy coordinate measuring machines (CMMs). This series has long set the performance standard across a broad range of precision applications where manufacturers need the highest accuracy and low measurement uncertainty. Now that standard is even higher, thanks to a powerful and simple modular concept combined with new capabilities and performance options.
Key Target Audience
Coordinate Measuring Machine (CMM) Manufacturers, Coordinate Measuring Machine (CMM) Traders, End-Use Market Participants of Different Segments of Coordinate Measuring Machine (CMM), Government and Research Organizations, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.