Coordinate Measuring Machine (CMM) Market by Type (Fixed CMM, Portable CMM), Industry (Automotive, Aerospace, Heavy Machinery, Energy & Power, Electronics, Medical), and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Coordinate Measuring Machine (CMM) Measurement Systems Market Overview
The coordinate measuring machine (CMM) market size is projected to reach a CAGR of 9.8% from 2021 to 2028.
In the CMM market, 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 different types 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 in the CMM market.
Growing use of 3D data in modelling and analytical applications, increasing R&D spending on developing metrology products, and thriving automotive sector are some of the factors that have supported long-term expansion for Coordinate Measuring Machine (CMM) Measurement Systems Market.
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COVID-19 had a negative effect on the CMM market, resulting in decreased shipments of CMM and the revenues generated from them. As a result, a drop was witnessed in the growth trend of the market during the first half of 2020.
Coordinate Measuring Machine (CMM) Measurement Systems Market Regional Analysis
Asia Pacific is the most rapidly growing market and offers a huge opportunity for the automotive industry, whose growth is driven by the growing population. The heavy machinery industry is booming rapidly, which, in turn, has driven the market for CMMs in India and China.
Coordinate Measuring Machine (CMM) Measurement Systems Market Competitive Landscape
Key Players
• Carl Zeiss AG
• Creaform Inc.
• Eley Metrology
• FARO Technologies, Inc.
• Hexagon AB
• Keyence Corporation
• Metronor
• Mitutoyo Corporation
• Nikon Metrology
• Tokyo Seimitsu Co. Ltd
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Coordinate Measuring Machine (CMM) Measurement Systems Market Recent Developments
• In June 2021, Nikon Corporation (Nikon) released the NEXIV CNC Video Measuring System model range that includes VMZ-S4540 and VMZS6555, suitable for inline, automated dimensional measurement.
• In June 2021, ZEISS CALYPSO 2021 reduces the time and effort needed to analyse workpieces. It has over 60 new functions and improvements, which will lead to significantly better performance in quality control. With improved mathematical algorithms and other innovations, the measurement results are now available 20 times faster than with ZEISS CALYPSO 2020.
Reasons to Acquire in the Coordinate Measuring Machine (CMM) Measurement Systems Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Coordinate Measuring Machine (CMM) Measurement Systems Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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