Customer preferences shifting toward in-line metrology will be a key enabler for smarter metrology solutions and software, says Frost & Sullivan
SAN ANTONIO, June 30, 2022 /PRNewswire/ -- The global market for dimensional metrology software is growing as organizations across sectors expedite automation to align with their digitalization agendas. Frost & Sullivan's recent analysis, Global Dimensional Metrology Software Growth Opportunities, finds quality inspection and reverse engineering of components across applications to be key enablers for metrology equipment and software. Therefore, the global dimensional software market is expected to reach $850.4 million by 2026 from $613.7 million in 2021, an uptick at a compound annual growth rate (CAGR) of 6.7%.
For further information on this analysis, please click here
"With sustainability becoming the overarching theme across industries, focus on electric vehicles (EV), hydrogen fuel cells, and renewable energy sources is growing," said Ram Ravi, Industry Principal at Frost & Sullivan. "Improving the efficiency of EV powertrains and electric motors will drive demand for metrology software."
Ravi added: "As 30% of the manufacturers are in the early stages of digital transformation, the impact of in-line metrology in manufacturing will be prominent in the next two to four years. The trend will encourage vendors to strengthen their software capabilities and couple their solutions with technologies such as artificial intelligence (AI) and machine learning."
The increasing demand for dimensional metrology software by key industry verticals—automotive, machine shops, and aerospace—presents lucrative growth opportunities for vendors, including:
- Additive manufacturing (AM): Focus on lightweighting individual components to drive AM as industries strive to achieve their sustainability targets.
- In-line metrology solutions: Provide real-time quality control through in-line metrology equipment and advanced software.
- Integrate AI and ML: Reducing product design and part tolerancing cycle time can be achieved through metrology data-fed AI engines.
- Closed-loop quality control system: Provide closed-loop architecture to enable the collection and processing of data for manufacturing and decision-making.
Global Dimensional Metrology Software Growth Opportunities is the latest addition to Frost & Sullivan's Industrial research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
About Frost & Sullivan
For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.
Global Dimensional Metrology Software Growth Opportunities