Coordinate Measuring Machine Market Outlook - 2026
The global coordinate measuring machine market size was valued at $2.74 billion in 2018, and is projected to reach $5.34 billion by 2026, registering a CAGR of 8.3%. Coordinate measuring machines are flexible and universal dimensional measuring devices with the capability of integration into a common information model information network. These measuring machines are a form of metrological instrument for high precision measuring capabilities. In CMM market, 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 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.
By Offering
Product segment is projected as one of the most lucrative segments.
Segment Overview
Coordinate measuring machine market 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.
Top Impacting Factors
The factors are operated in CMM market 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 coordinate measuring machine industry. 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 coordinate measuring machine market opportunity for the expansion of the global coordinate measuring machine market.
By Product Type
Portable segment is expected to secure leading position during forecast period.
Some major factors that impact the coordinate measuring machine market growth are:
Rise in adoption of CAD/CAM and international quality standards
The application of CAD in the coordinate measuring machine uses the software developed by the computer to carry out advanced measurement test. Further, the enhanced application of CAD in the coordinate measurement methods uses CAD model in software with the absence of actual artifacts, CAD is also used in reverse engineering. Thus, the adoption of CAD in various designing processes boost the Coordinate measuring machine market share.
Shortage of skilled precision machine operators
The lack in the number of heavy machine operators diverts the industries toward the use of autonomous systems. Therefore, this generates the need of coordinate measuring machines in the industrial design & manufacturing process that provide high precision with automated functions, which is further expected to drive the coordinate measuring machine market.
Lack of a universal system that can be applied across different sectors
There are hundreds of different kinds of coordinate measuring machine, dozens of manufacturers, and various software programs to run the machines. This indulges a lack of standardization in the hardware and software of the system. The unavailability of a universal system that lacks compatibility for global solution and application hampers the market growth.
By Region
Asia Pacific region would exhibit the highest CAGR of 20.50% during 2019-2026
Competitive Analysis
The key players in the market of coordinate measuring machine market 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. Furthermore, prominent strategies such as product launch, business expansion, and others are adopted by leading players to strengthen their business reach and position in the global coordinate measuring machine market.
Key Benefits for Coordinate Measuring Machine Market :
- This report provides an extensive analysis of the current and emerging coordinate measuring machine market trends and dynamics in the global coordinate measuring machines market.
- In-depth analysis is conducted by semiconductor and electronics market estimations for the key coordinate measuring machine market segments between 2018 and 2026.
- Extensive coordinate measuring machine market analysis conducted by following key product positioning and monitoring the top competitors within the market framework.
- Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the global coordinate measuring machine market.
Coordinate Measuring Machine Market Report Highlights
| Aspects | Details |
 By OFFERING |
|
 By Product Type |
|
 By Application |
|
 By End User |
|
 By Region |
|
 Key Market Players | Creaform Inc. (AMETEK Inc.), Eley Metrology, Metronor, FARO Technologies, Inc., Carl Zeiss AG (Zeiss Group), Tokyo Seimitsu Co. Ltd., Hexagon AB, Mitutoyo Corporation, Nikon Metrology NV, Keyence Corporation |
Analyst Review
The global coordinate measuring machine market possesses a high growth potential, owing to rise in adoption of CAD/CAM and international quality standards. The current business scenario is witnessing an increase in demand for CMM, particularly in developing regions such as China and India. Moreover, companies in this industry are adopting various innovative techniques to provide consumers with high performance coordinate measuring machine for various industries globally.
CMM market is influenced by various factors such as 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 a 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.
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.
Loading Table Of Content...
