The research study involved 4 major activities in estimating the size of the industrial metrology market. Exhaustive secondary research has been done to collect important information about the market and peer markets. The validation of these findings, assumptions, and sizing with the help of primary research with industry experts across the value chain has been the next step. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information required for this study. The secondary sources include annual reports, press releases, investor presentations of companies, white papers, and articles from recognized authors. Secondary research has been mainly done to obtain key information about the market’s value chain, the pool of key market players, market segmentation according to industry trends, regional outlook, and developments from both market and technology perspectives.
In the industrial metrology market report, the global market size has been estimated using both the top-down and bottom-up approaches, along with several other dependent submarkets. The major players in the market were identified using extensive secondary research, and their presence in the market was determined using secondary and primary research. All the percentage shares splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Primary Research
Extensive primary research has been conducted after understanding the industrial metrology market scenario through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across 4 major regions—North America, Europe, Asia Pacific, and Rest of the World. Approximately 25% of the primary interviews have been conducted with the demand-side vendors and 75% with the supply-side vendors. Primary data has been collected mainly through telephonic interviews, which consist of 80% of the total primary interviews; questionnaires and emails have also been used to collect the data.
After successful interaction with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings of our primary research. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the report.
Note: “Others” includes sales, marketing, and product managers
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the market engineering process, both top-down and bottom-up approaches, along with data triangulation methods, have been used to estimate and validate the size of the industrial metrology market and other dependent submarkets. The research methodology used to estimate the market sizes includes the following:
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Identifying top-line investments and spending in the ecosystem and considering segment-level splits and major market developments
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Identifying different stakeholders in the industrial metrology market that influence the entire market, along with participants across the supply chain
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Analyzing major manufacturers and service providers in the industrial metrology market and studying their solutions
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Analyzing trends related to the adoption of industrial metrology solutions and services
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Tracking recent and upcoming market developments, including investments, R&D activities, product launches, expansions, acquisitions, partnerships, collaborations, agreements, and investments, as well as forecasting the market size based on these developments and other critical parameters
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Carrying out multiple discussions with key opinion leaders to identify the adoption trends of industrial metrology solutions and services
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Segmenting the overall market into various other market segments
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Validating the estimates at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts at MarketsandMarkets
Industrial Metrology Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size by the market size estimation process explained in the earlier section, the overall industrial metrology market has been divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures have been used, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply side perspectives. Along with data triangulation and market breakdown, the market has been validated by top-down and bottom-up approaches.
Market Definition
Industrial metrology provides accuracy and precision in production and quality inspection. It includes measurement and inspection processes, calibration routines, measurement system control, and managing the instruments of measurement in manufacturing industries. By harmonizing measurement with industry needs, industrial metrology increases product quality, promotes technological innovation, and fuels a competitive manufacturing environment. Industrial metrology also contributes to scientific and industrial progress by facilitating innovation and efficiency. The industrial metrology market has been segmented based on offering, equipment, application, end-use industry, and geography. Based on offering, the market is segmented into hardware, software, and services. Equipment comprise CMMs (Coordinate-measuring machines), ODS (Optical scanners and digitizers), measuring instruments, X-ray & CT systems, AOI (Automated optical inspection) Systems, form measurement machines, and 2D equipment. These technologies find widespread usage in multiple end-use industries such as aerospace & defense, automotive, architecture & construction, medical, electronics, energy & power, heavy machinery, mining, and others. Some of the notable applications of industrial metrology are quality control & inspection, reverse engineering, and mapping & modeling in these industries.
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Key Stakeholders
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Raw material suppliers
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Industrial metrology product manufacturers
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Original equipment manufacturers (OEMs)
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OEM technology providers
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Technology, service, and solution providers
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Intellectual property (IP) core and licensing providers
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Suppliers and distributors
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Government and other regulatory bodies
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Forums, alliances, and associations
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Technology investors
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Research institutes and organizations
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Analysts and strategic business planners
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Market research and consulting firms
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Metrology-related associations, organizations, forums, and alliances
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Government bodies such as regulatory authorities and policymakers
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Venture capitalists, private equity firms, and startup companies
Report Objectives
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To define, describe, and forecast the industrial metrology market, by offering, application, end-use industry, and region, in terms of value
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To forecast the industrial metrology market, by equipment, in terms of value and volume
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To estimate the historical and forecast market sizes, by equipment, for ODS and CMMs, in terms of volume
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To provide the market size estimation for North America, Europe, Asia Pacific, and the Rest of the World (RoW), along with their respective country-level market sizes, in terms of value
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To provide detailed information regarding the drivers, restraints, opportunities, and challenges that influence market growth
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To provide a detailed overview of the industrial metrology supply chain
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To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
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To map competitive intelligence based on company profiles, key player strategies, and key developments
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To analyze opportunities for stakeholders and provide a detailed competitive landscape of the market
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To provide information pertaining to key technology trends and patent analysis related to the industrial metrology market
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To provide information regarding trade data related to the industrial metrology market
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To strategically profile key players in the industrial metrology market and comprehensively analyze their market shares and core competencies
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To benchmark the market players using the company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of market rankings/shares and product portfolios
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To analyze competitive developments, such as agreements, expansions, acquisitions, product launches, collaborations, partnerships, and research & development (R&D), in the industrial metrology market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Country-wise Information:
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Country-wise breakdown for North America, Europe, Asia Pacific, and Rest of the World
Company Information:
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Detailed analysis and profiling of additional market players (up to five)
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