Metrology refers to the science of measurement and ensures the calibration of various equipment to deliver accurate results. It is the characterization of physical surface properties of the equipment such as roughness, flatness, dimensions, and curvature. Metrology systems use advanced technology to measure indefinite quantities and out of sight dimensions of various objects that are either difficult or impossible to measure physically.
Companies need to ensure precise measurements to comply with the industrial measurement standards. The International Bureau of Weights and Measures is a government organization that introduces measurement standards for several industries. It is mandatory for enterprises across various industries to follow these international measurement standards and hence, it is necessary for them to adopt the metrology systems. This is one of the major factors boosting the global metrology systems market.
Additionally, inspection, measurement, and quality control in the manufacturing process of the companies are predicted to propel the global metrology systems market, as these processes would require the companies to adopt advance metrology systems.
The global metrology systems market can be segmented based on component, enterprise size, application, and region. In terms of component, the market can be divided into hardware, solution, and services. The solution segment can be segregated into on-premise and cloud-based. The cloud-based segment is anticipated to expand at a significant pace during the forecast period.
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Expansion of the segment can be attributed to the rise in adoption of cloud-based solutions among enterprises, as these solutions provide enhanced scalability and reliability. The services segment can be bifurcated into managed services and professional services. The professional services sub-segment is expected to account for a major share of the services segment.
Based on region, the global metrology systems market can be split into North America, Europe, Middle East & Africa, Asia Pacific, and South America. North America is expected to hold a dominant share of the global market during the forecast period. Presence of leading players in the market is a key factor driving the metrology systems market in the region.
Asia Pacific is expected to create significant opportunities for key players in the market. The metrology systems market in the region is estimated to expand significantly due to the growth in the information & technology sector in countries such as Japan, China, South Korea, India, and the Philippines.
Key players operating in the global metrology systems market include FINAS, Zygo, Aqua Metrology Systems, Faro Technologies, Nikon Metrology, Carl Zeiss AG, Jenoptik, and Panasonic Corporation. These players are focusing on introducing advanced solutions and services to improve their customer base and strengthen their position in the market.