CMM Market Trends : An Overview of Current and Future Developments
The Coordinate Measuring Machine (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.
The development of the Coordinate Measuring Machine (CMM) Market is influenced by a number of factors. First, the need for CMMs is being driven by the rising demand for high-quality precision engineering and manufacturing. The demand for quality control and product inspection is increasing as Industry 4.0 takes hold. As a result, CMMs are now more in demand in sectors like aerospace, automotive, and medical devices.
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There are several opportunities for the CMM market. Firstly, the integration of CMMs with other technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) can create new opportunities for the market. For example, the use of AI can help to automate the analysis of CMM data, while IoT can enable the remote monitoring and control of CMMs.
Second, the market is seeing new prospects as a result of the rising demand for portable CMMs. Because of its portability and ease of use, portable CMMs are becoming more common in sectors like construction, shipbuilding, and oil & gas.
Finally, the market is seeing new growth prospects due to the industry's increasing demand for CMMs. CMMs are used in the manufacturing of medical equipment, including implants and prostheses, as well as for quality control and inspection.
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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