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Coordinate Measuring Machines (CMM) Market (Type - Stationary, and Portable; End User - Automotive, Aerospace & Defense, Energy & Power, Electronics, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : September, 2021

  • Rep Id : ICT00293

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on coordinate measuring machines (CMM) market provides an in-depth analysis of segments and sub-segments in the global as well as regional coordinate measuring machines (CMM) market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional coordinate measuring machines (CMM) market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global coordinate measuring machines (CMM) market. According to the report, the global coordinate measuring machines (CMM) market is projected to grow at a CAGR of 8.4% over the forecast period of 2021-2027, growing from nearly USD 2.77 billion in 2020 to about USD 4.78 billion in 2027.


Coordinate Measuring Machines (CMM) Market

 

Market Insight

Coordinate measuring machines (CMM) are used to measure the geometrical dimensions of objects by sensing discrete points on the surface of the object by a probe. The CMM comes with different types of probes, including mechanical, optical, laser, and white light. The probe is controlled either manually by an operator or a computer-controlled arm. CMMs are generally made of four major components including computer control system, machine, software, and probe contact or probe non-contact. These measuring machines have precision measuring capabilities, giving high-resolution measurements. Due to their high accuracy, several manufacturing companies use CMMs to inspect their products. Companies from industries such as automotive, aerospace, energy & power, electronics, and, others widely use CMM for product inspection. Furthermore, the market players are developing innovative CMM prototypes to gain a tactical advantage over the competition.

 

The spread of COVID-19 negatively affected the CMM market over the short term. Government in several countries across the world imposed restrictions to control the pandemic. Many local and national governments implemented lockdowns, compelling industries to reduce or even stop the business operations. This, in turn, reduced the demand for industrial equipment such as CMMs, which are used in manufacturing plants. Moreover, the lockdown restrictions by the governments disrupted the supply chains across the world. Ports and warehouses in many countries were closed during the pandemic, which in turn, affected the transport and supply of raw materials and finished goods. Thus, countries dependent on the import of machinery, and equipment registered shortages over the period of the pandemic. This, in turn, hampered the growth of the CMM market during the pandemic. However, as the pandemic crisis got under control, the markets opened up and the sale of CMM began to come back to the pre-pandemic state.

 

The growing adoption of six sigma and quality standards in manufacturing plants is mainly driving technological advancements. Manufacturing plants across several industries are implementing modern product development processes to improve operational efficiencies. This, in turn, boosts the growth of the CMM market. Moreover, the flourishing defense and aerospace industry is expected to augment the demand for CMM. The components used in the defense and aerospace industry are required to be of highly accurate dimensions. Thus, CMMs play an important role in inspecting the components used in the defense and aerospace industry. However, the availability of alternative measuring machines is likely to hinder market growth over a short period. Nevertheless, the growing trend of industrial automation is anticipated to boost the market in the future. Modern technologies such as cloud computing, and IIoT offer growth opportunities to the market players.

 

The Asia Pacific accounted for the highest share in the CMM market among other regions in the world. Moreover, the Asia Pacific CMM market is anticipated to grow at the fastest rate over the forecast period as compared to other regional markets. The growing number of manufacturing units built in the region is majorly driving the growth of the market. furthermore, the increasing investment for infrastructure development by the government and private players is further supporting the growth of the Asia Pacific CMM market. On the other hand, North America accounted for the second-largest share in the global CMM market. The presence of major manufacturing plants in the region is augmenting the growth of the North American CMM market.

 

Segment Covered

The report on global coordinate measuring machines (CMM) market covers segments such as type, and end user. On the basis of type, the sub-markets include stationary, and portable. On the basis of end user, the sub-markets include automotive, aerospace & defense, energy & power, electronics, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as CMM Solutions (UK) Ltd., Carl Zeiss AG (Zeiss Group), Ametek Inc. (Creaform), Faro Technologies, Inc., Nikon Corporation, Keyence Corporation, Wenzel Group GmbH & Co. KG, Eley Metrology Ltd., Hexagon AB, and Sipcon Instrument Industries.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of coordinate measuring machines (CMM) market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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