PORTLAND, Oregon, Dec. 16, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Coordinate Measuring Machine Market by Offering (Product and Services), Product Type (Stationary and Portable), Application (Inspection and Reverse Engineering), and End User (Automotive, Aerospace & Defense, Energy & Power, Electronics, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026". According to the report, the global coordinate measuring machine industry was pegged at $2.74 billion in 2018 and is projected to reach $5.34 billion by 2026, registering a CAGR of 8.3% from 2019 to 2026.
Chief reasons for market fluctuations
Rising adoption of CAD/CAM and international quality standards, shortage of skilled precision machine operators, and lack of applicability of existing measuring equipment have boosted the growth of the global coordinate measuring machine market. Moreover, demand to capture large volumes of 4D data for modeling & analysis supplemented the market growth. However, lack of a universal system that can be applied across different sectors and high risk of changes in regional market growth trends and potential hamper the market. On the contrary, growing outsourcing trends for dimensional inspection in the medical sector and market development in emerging economies are expected to create lucrative opportunities in the near future.
Reverse engineering segment to manifest the fastest growth
The reverse engineering segment is expected to portray the fastest CAGR of 14.7% during the forecast period, owing to development of various software and its application. However, the inspection segment held the largest share in 2018, accounted for more than four-fifths of the market, as CMM is mainly used for dimension measurement and inspection of goods products.
Up to 30% Discount - Offer Valid till 31-Dec-2019
Make Purchase Enquiry @ https://www.alliedmarketresearch.com/purchase-enquiry/6210
Electronics segment dominated the market
The electronics segment held the largest share in 2018, contributing to nearly one-fourth of the market, as CMM finds use in measurement of electronic components. However, the aerospace & defense segment is projected to portray the fastest CAGR of 10.9% during the forecast period, owing to the use of CMM for maintaining accuracy in production of ships and airplanes.
Asia-Pacific held the largest share, followed by Asia-Pacific
The market across the Asia-Pacific region held the lion's share in 2018, contributing to around half of the market, owing to presence of large number of industries involved in manufacturing and production in the region that demand the use of CMM. Moreover, the region is anticipated to register the fastest CAGR of 9.3% during the forecast period. The market across North America held the second-largest share in 2018.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/6210
Major market players
- Creaform Inc.
- Carl Zeiss AG
- FARO Technologies, Inc.
- Eley Metrology
- Keyence Corporation
- Hexagon AB
- Mitutoyo Corporation
- Metronor
- Nikon Metrology
- Tokyo Seimitsu Co. Ltd
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Similar Reports:
Level Sensor Market Expected to Reach $7.36 Billion by 2026
Machine Vision System Market Expected to Reach $18.7 Billion, Globally, by 2022
Embedded Die Packaging Technology Market Expected to Reach $68 Million, Globally, by 2023
Global Silicon EPI Wafer Market Expected to Reach $1.55 Billion by 2026
Global Smart Lighting Market Expected to Reach $38.68 Billion by 2026
Pre-book Offer 12% Discount:
Machine Condition Monitoring System Market- Global Opportunity Analysis and Industry Forecast, 2019-2026
Plastics Processing Machinery Market- Global Opportunities and Forecasts, 2019-2026
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285, +1-503-446-1141
International: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research/
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
