Coordinate Measuring Machine (CMM) Market by Type (Fixed CMM, Portable CMM) and Region (2021-2026)
According to the new market research report on the "Coordinate Measuring Machine (CMM) Market by Type (Fixed CMM, Portable CMM), Industry (Automotive, Aerospace, Heavy Machinery, Energy & Power, Electronics, Medical), and Region (North America, APAC, Europe, and RoW) - Global Forecast to 2026", The CMM market size is expected to grow from USD 2.8 billion in 2021 to USD 4.3 billion by 2026; it is expected to grow at a CAGR of 8.8% from 2021 to 2026. The key factors driving the growth of the market growing use of 3D data in modeling and analytical applications, increasing R&D spending on developing metrology products, and thriving automotive sector.
Browse 243 market data Tables and 61 Figures spread through 255 Pages and in-depth TOC on "Coordinate Measuring Machine (CMM) Market - Global Forecast to 2026"
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“Type-wise, fixed CMM segment captured the larger market size of the overall CMM market in 2020“
The rising need for validating the dimensional and geometric accuracy in the manufacturing, automotive, and aerospace industries is the factor responsible for the largest share of the fixed CMM segment. The bridge CMM is the most common type in the CMM market. As the manufacturing processes are getting complex, along with constant changes in quality and accuracy standards of the manufacturing processes in industries such as automotive, aerospace, and manufacturing, accuracy and precision have become the topmost requirements. The demand for bridge CMMs is increasing. Better rigidity and higher accuracy are the major factors responsible for the high adoption of bridge CMMs in industrial metrology. Bridge CMMs require less setup time and are most accurate and flexible.
Industry-wise, heavy machinery segment to grow at the highest rate from 2021 to 2026”
As CMMs can provide an onsite dimensional measurement to manufacturers of heavy equipment including earthmoving, excavation, and agricultural machinery, the adoption of CMMs is expected to grow significantly during the forecast period. The market in APAC is expected to grow at the highest CAGR during the forecast period. China is the largest market for heavy machinery, which poses increased demand for CMM solutions and is driving the growth of the market in APAC. China’s economic restructuring includes focusing on the development of advanced manufacturing and high-tech industries. Given this focus, sub-sectors that offer the most promising business opportunities are CNC machine tools, robotics, 3D printing equipment, and energy-efficient and environment protection equipment. Furthermore, Made in China 2025, a Chinese government initiative to upgrade China’s machinery industry to manufacture major machine goods with their own innovation and intellectual property rights is a huge opportunity for the CMM market.
Every business aims to lower its operating costs and maximize its profit margins. Cloud storage evades the need for huge capital expenditure to buy servers and physical hard drives. Cloud service providers
generally have monthly tariffs and usually cost only a few cents per gigabyte of data storage. Moreover, cloud companies offer pay-as-you-go services for data storage space needed to serve their clients, which means they will only be charged for the space they need. For a manufacturing company, it becomes easy to share the data with the metrology equipment provider and get the results. This would help them reduce their operating costs both in terms of infrastructure and labor costs.
In October 2020, ZEISS Group and Microsoft Corp. announced a multi-year strategic partnership to accelerate ZEISS transformation into a provider of digital services, embracing a cloud-first approach. By standardizing its equipment and processes in Microsoft Azure as its preferred cloud platform, ZEISS will be able to provide its customers with enhanced digital experiences, address changing market needs more quickly, and increase its productivity.
The combination of CMM and IIoT helps manufacturers to exchange precise details of a workpiece between facilities, customers, or suppliers that are part of the supply chain through the cloud platform, thereby helping other manufacturers to reduce manufacturing waste and minimize production errors. Further, integration of CMM and Industry 4.0 enables manufacturers to track and optimize the supply chain and get real-time data regarding production and product performance, thereby enabling companies to offer enhanced services to customers and create new revenue streams.
Major players involved in the CMM market include Zeiss Group (Germany), FARO Technologies (US), Hexagon (Sweden), Nikon Corporation (Japan), Mitutoyo (Japan), Tokyo Seimitsu (Japan), Keyence Corporation (Japan), Creaform (Canada), Perceptron (US), and Wenzel Group (Germany).
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