Coordinate Measuring Machine Market Trends and Forecast
The future of the global coordinate measuring machine market looks promising with opportunities in the automotive, aerospace, heavy machinery, energy & power, electronics, and medical markets. The global coordinate measuring machine (cmm) market is expected to reach an estimated $5.9 billion by 2030 with a CAGR of 8.2% from 2024 to 2030. The major drivers for this market are increasing adaoption of 3D data in modeling and analytical applications, growing trend of cloud computing and industry 4.0, and rising investments in research and development on developing metrology products.
• Lucintel forecast that within the type category, portable CMM is expected to witness a higher growth over the forecast period due to its increasing adoption in automotive and power industries owing to its ease of use and its capability to provide maximum flexibility to perform metrology activities.
• Within the application category, heavy machinery will remain the largest segment as it can deliver onsite dimensional measurement to heavy equipment manufacturers, such as earthmoving, excavation, and agricultural machinery.
• In terms of region, APAC is expected to witness highest growth over the forecast period due to rapid industralization and growing adoption of automation in various industrial verticals in the region.
Gain valuable insights for your business decisions with our comprehensive 150+ page report.
A more than 150-page report is developed to help in your business decisions.
Emerging Trends in the Coordinate Measuring Machine Market Market
The Coordinate Measuring Machine (CMM) market is undergoing rapid evolution resulting from technology advancement and the changes in demand within the sector. CMMs are adapting to meet changing requirements as industries pursue increased accuracy, efficiency, and integration with digital solutions. Increased adoption of automation and data analytics alongside new technologies is transforming what CMMs can do and how they are used. These developments improve both measurement accuracy and efficiency while opening up more areas of application for CMMs across various sectors. Stakeholders must recognize these trends to exploit recent advances in quality control and measurement.
• Integration with Industry 4.0: Currently, there’s a growing trend towards integrating CMMs into Industry 4.0 using Internet of Things (IoTs) principles as well as smart factory concepts hence making them part of broader ecosystems. This move allows CMMs to interact with other machines, facilitating real-time sharing and analysis of data among others Manufactures enjoy improved automated manufacturing processes leading to accurate data collection procedures that prompt effective quality controls systems being implemented at their facilities. By facilitating predictive maintenance, Industry 4.0 supports streamlined operations which lead to less downtime and higher productivity thus depicting a shift toward interconnected, intelligent manufacturing environments.
• Advancements in Sensor Technology: The introduction of advanced sensors such as optical sensors, laser scanners has changed how CMM can be utilized today when compared to previous days when they were used only for specific applications only but this has been facilitated by advanced sensor development today that includes the use of laser scanners and optical sensors . These sensors have contributed towards improving speed through high-resolution non-contact measurements which increases accuracy.
• Increased Adoption of Portable CMMs: The use of portable CMMs has gained traction because they are versatile and convenient. Unlike the traditional stationary models, the portable variety allows measurements and inspections on-site thus eliminating the need for transportation of components to central locations for analysis. For instance, it is easier for industries like shipbuilding and construction which deal with huge and heavy parts since portable CMM provides mobility. Due to flexible nature of a portable CMM, inspection time is reduced while assuring quality in real-time. As a result, firms can undertake cost-effective quality control practices which enhance overall productivity during their operations.
• Enhanced Data Analytics and Software Integration: The way data from measurement is processed or used has changed following integration of advanced data analytics packages with software integrated into CMMs. Modern-day computer-aided machines have a range of complex software packages with powerful visualization tools that aid decision making process during analyses; these include both statistical computations as well as reporting capabilities (Zhang et al., 2019). Such facilities enable wider scales for quality assessment among other things therefore allowing team members conduct more sophisticated form of qualitative analysis using enhanced software integration also improves overall manufacturing efficiency by ensuring seamless data exchange with other enterprise solutions such as WMS systems employed by some companies worldwide (Bonyadi et al., 2017). Therefore, manufacturers can tap into the potentiality brought about by these state-of-the-art analyses to understand more deeply about production processes enhancing improved practices regarding quality management.
• Automation and Robotics are Gaining Prominence: Autonomous CMM systems have been increasingly adopting automation as part of their setup in order to enhance efficiency and accuracy in measurements. Automatically controlled CMMs can accomplish repeat jobs with much exactitude thus reducing the need for human intervention thereby getting rid of errors that may arise from such actions. Robotics and automation consolidate the inspection process making it continuous thus facilitating higher throughput. The importance of this development is more emphasized in high volume production environments where speed as well as uniformity matters most. Through integrating automation, CMMs help realize more efficient manufacturing processes and quality products.
Advancements in technology including those brought about by contemporary production requirements continue to change the CMM markets. For instance, inclusion of industry 4.0; enhanced performance sensors and portable CMM have radically altered how measurements are being made today. Furthermore, advanced data analytics combined with automation enables a shift on how CMMs operate to deliver value. Such trends collectively increase measurement precision, efficacy, adaptability such that they take up critical positions in ensuring credible manufacturing outcomes that will promote innovation across different sectors within the economy
Recent Developments in the Coordinate Measuring Machine Market Market
Ongoing innovations and advancements in the Coordinate Measuring Machine (CMM) market have been highlighted by recent developments:
• Advanced Automation Integration: There has been a significant push towards integrating automation into CMM systems, including robotic arms and automated measurement processes. This development allows for faster and more consistent measurements, reducing human error and increasing throughput. Automation also facilitates the handling of complex and high-volume tasks with minimal intervention, leading to improved efficiency and lower operational costs.
• Enhanced Software Solutions: The latest CMM systems feature sophisticated software with advanced data analysis and visualization capabilities. These software solutions enable real-time monitoring, automated error detection, and detailed reporting, enhancing overall measurement accuracy and process control. The incorporation of AI and machine learning into software is also driving improvements in predictive maintenance and operational optimization.
• Development of Portable CMMs: Portable CMMs have gained traction due to their flexibility and ease of use in various settings. These systems are particularly useful for on-site inspections and quality control in diverse environments. Recent advancements have improved their accuracy and durability, making them a valuable tool for industries requiring mobile and adaptable measurement solutions.
• Integration with Digital Twins: CMMs are increasingly being integrated with digital twin technology, allowing for virtual simulation and real-time monitoring of physical assets. This integration helps in creating accurate digital replicas of physical components, facilitating better analysis, optimization, and maintenance. The use of digital twins enhances the ability to predict and mitigate potential issues before they impact production.
These developments reflect the CMM marketÄX%$%Xs evolution towards greater automation, precision, and integration with advanced technologies. These trends are enhancing the functionality and efficiency of CMM systems, addressing the increasing demands of modern manufacturing.
Strategic Growth Opportunities for Coordinate Measuring Machine Market Market
Key strategic opportunities in this market include:
• Expansion into Emerging Markets: As industries in emerging economies like India and Southeast Asia grow, there is a significant opportunity for CMM manufacturers to tap into these expanding markets. The increasing need for quality control and precision measurement in these regions presents a lucrative growth avenue.
• Investment in Industry 4.0 Technologies: Companies investing in Industry 4.0 technologies can leverage CMMs integrated with IoT, AI, and automation to drive efficiencies. This integration offers opportunities for creating smart factories where CMMs play a central role in real-time monitoring and data-driven decision-making.
• Development of Customized Solutions: There is a growing demand for customized CMM solutions tailored to specific industry needs, such as aerospace or automotive. By developing specialized CMMs with unique features and capabilities, manufacturers can address niche markets and differentiate themselves from competitors.
• Enhancement of After-Sales Services: Offering comprehensive after-sales support, including maintenance, training, and upgrades, can create additional value for customers. Strong after-sales services can enhance customer satisfaction and loyalty, leading to long-term relationships and repeat business.
These strategic growth opportunities highlight the potential for CMM manufacturers to expand their market presence through targeted investments, technological advancements, and enhanced customer service. By capitalizing on these opportunities, companies can drive growth and stay competitive in a dynamic market.
Coordinate Measuring Machine Market Market Driver and Challenges
The major drivers and challenges affecting the Coordinate Measuring Machine (CMM) market include:
The factors responsible for driving the coordinate measuring machine market market include:
• Technological Advancements: Innovations in sensor technology, AI, and automation are driving the CMM market by enhancing measurement precision and efficiency. These advancements enable more sophisticated measurements and streamlined processes, leading to increased adoption across various industries.
• Growing Demand for Quality Control: The increasing emphasis on quality control and precision in manufacturing sectors, such as aerospace and automotive, is boosting the demand for CMMs. Manufacturers are investing in CMMs to meet stringent quality standards and improve product reliability.
• Integration with Industry 4.0: The integration of CMMs with Industry 4.0 technologies, including IoT and data analytics, is driving market growth.
This integration facilitates real-time data collection, predictive maintenance, and process optimization, enhancing overall manufacturing efficiency.
• Rising Automation in Manufacturing: The trend towards automation in manufacturing processes is increasing the demand for CMMs. Automated measurement systems help in reducing manual errors, improving consistency, and increasing production speed.
Challenges in the coordinate measuring machine market market are:
• High Initial Costs: The high cost of advanced CMM systems and their maintenance can be a barrier for smaller manufacturers. The initial investment and ongoing expenses associated with CMMs may deter some companies from adopting these technologies.
• Complexity of Integration: Integrating CMMs with existing manufacturing systems and processes can be complex and challenging. Compatibility issues and the need for specialized training can hinder the adoption of advanced CMM technologies.
• Technological Obsolescence: Rapid advancements in technology may lead to concerns about obsolescence. Manufacturers must continually invest in updates and upgrades to keep their CMM systems current and competitive.
• Skilled Labor Shortage: The need for skilled operators and technicians to handle advanced CMM systems is a challenge. The shortage of qualified personnel can impact the effective use and maintenance of these machines.
The CMM market is driven by technological advancements and growing quality control demands but faces challenges such as high costs and integration complexity. Addressing these challenges while leveraging drivers can help manufacturers navigate the market effectively.
List of Coordinate Measuring Machine Market Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies coordinate measuring machine market companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the coordinate measuring machine market companies profiled in this report include-
• Hexagon
• FARO Technologies
• Carl Zeiss
• Eley Metrology
• N J Metrology
• Nikon Metrology
• Metronor
• Creaform Inc
Coordinate Measuring Machine Market by Segment
The study includes a forecast for the global coordinate measuring machine market by type, end use, and region
Coordinate Measuring Machine (CMM) Market by Type [Analysis by Value from 2018 to 2030]:
• Fixed CMM
• Portable CMM
Coordinate Measuring Machine (CMM) Market by End Use [Analysis by Value from 2018 to 2030]:
• Automotive
• Aerospace
• Heavy Machinery
• Energy & Power
• Electronics
• Medical
• Others
Coordinate Measuring Machine (CMM) Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Coordinate Measuring Machine Market Market
Major Players in the market are expanding their operations and forming strategic partnership to strengthen their positions. Below content highlights recent developments in key countries USA, China, Germany, India and Japan.
• United States: The U.S. CMM market has seen a surge in the adoption of advanced optical CMMs and laser scanning technologies. Key developments include enhanced software integration with AI and machine learning for more precise measurements and automated calibration processes. Additionally, there is a growing trend towards smart factories where CMMs are integrated with IoT systems for real-time data analysis and predictive maintenance.
• China: In China, the CMM market has experienced rapid growth due to increasing demand from the automotive and aerospace sectors. Recent advancements include the development of more cost-effective and high-precision CMMs, driven by local innovations and competitive pricing. There is also a notable push towards integrating advanced sensor technologies and automation to improve measurement efficiency and accuracy.
• Germany: Germany continues to lead in the CMM market with innovations in high-speed scanning and multi-sensor systems. The focus is on enhancing measurement capabilities with advanced tactile and optical sensors. German manufacturers are also emphasizing the integration of CMMs with digital twins and Industry 4.0 technologies, enabling more precise and flexible manufacturing processes.
• India: The CMM market in India is growing, driven by increased investments in the automotive and electronics industries. Recent developments include the introduction of affordable CMM solutions tailored to local needs, with a focus on increasing automation and reducing setup times. Additionally, there is a growing interest in portable CMMs for on-site inspections and quality control.
• Japan: JapanÄX%$%Xs CMM market has been advancing with the integration of high-precision robotics and advanced automation. Recent trends include the development of ultra-high-speed CMMs and enhanced software capabilities for data analysis. Japanese manufacturers are also exploring the use of CMMs in conjunction with advanced manufacturing technologies like additive manufacturing and smart sensors.
Features of the Global coordinate measuring machine (CMM) market
Market Size Estimates: Coordinate measuring machine market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Cordinate measuring machine market size by various segments, such as by type, end use, and region in terms of value ($B).
Regional Analysis: Coordinate measuring machine market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, end use, and regions for the coordinate measuring machine market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the coordinate measuring machine market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in this or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q.1 What is the coordinate measuring machine market size?
Answer: The global coordinate measuring machine market is expected to reach an estimated $5.9 billion by 2030.
Q.2 What is the growth forecast for coordinate measuring machine market?
Answer: The global coordinate measuring machine market is expected to grow with a CAGR of 8.2% from 2024 to 2030
Q.3 What are the major drivers influencing the growth of the coordinate measuring machine market?
Answer: The major drivers for this market are increasing adaoption of 3D data in modeling and analytical applications, growing trend of cloud computing an
d industry 4.0, and rising investments in research and development on developing metrology products.
Q4. What are the major segments for coordinate measuring machine market?
Answer: The future of the global coordinate measuring machine market looks promising with opportunities in the automotive, aerospace, heavy machinery,
energy & power, electronics, and medical markets.
Q5. Who are the key coordinate measuring machine market companies?
Answer: Some of the key coordinate measuring machine market companies are as follows: o Hexagon o FARO Technologies o Carl Zeiss o Eley Metrology o N J M
etrology o Nikon Metrology o Metronor o Creaform Inc o 0 o 0
Q6. Which coordinate measuring machine market segment will be the largest in future?
Answer: Lucintel forecast thatportable CMM is expected to witness highest growth over the forecast period due to its increasing adoption in automotive and power indu
stries owing to its ease of use and its capability to provide maximum flexibility to perform metrology activities.
Q7. In coordinate measuring machine (CMM) market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to rapid industralization and growing adoption
n of automation in various industrial verticals in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the coordinate measuring machine market by type (fixed CMM and portable CMM), end use (automotive, aerospace, heavy machinery, energy & power, electronics, medical, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to coordinate measuring machine market or related to coordinate measuring machine companies, coordinate measuring machine market size, coordinate measuring machine market share, coordinate measuring machine market growth, coordinate measuring machine market research, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.