Metrology services are the measurement services offered by service providers to various end use industries such as automotive, aerospace, manufacturing, and power generation among others.
Albany, NY -- (SBWIRE) -- 08/31/2016 -- Metrology has found increased applications across different industry verticals and is witnessing dynamic shifts in growth trends. It helps manufacturers to increase their efficiency by optimizing productivity without significantly affecting the resource requirements. Different metrology products can be used independently or as integrated systems for functions such as measurement (3D), quality control or inspection, reverse engineering, product quality optimization, or to minimize need of reworks, and reduce scrap/waste generation during the manufacturing process. However, considering the high cost of such precision equipments, it becomes financially challenging for manufacturers to be able to keep their inventory at par with technological developments resulting in new product introduction in the market. This has given rise to service sector, wherein third party vendors are outsourced the instrumentation and measurement section. The metrology services market is broadly categorized into product segments such as coordinate measuring machines (CMM) and optical digitizers and scanners (ODS).
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Global metrology services market is driven by the demand for précised parts and components from different industry verticals such as automotive sector, electronics industry, and power generation among others. The rapidly booming automotive industry in Asia-Pacific is one of the major contributors to the growth of metrology services market in the region. Developments in measuring technologies are also influencing the growth patterns, and new product development has become a significant strategy for many industrial players.
Operating a metrology product efficiently requires skilled workforce. The availability of skilled machine operators is limited. The user has to invest in hiring a skilled machine operator thus adding to the operation cost. Outsourcing such operations to third party vendors is an economical alternative. This is thus driving the demand for metrology services in the market. Furthermore, manufacturers are increasingly adopting Computer Aided Design and Computer Aided Manufacturing (CAD/CAM) based processes to the manufacturing cycle for perceived benefits such as cost reduction, shorter production cycle, reduced defects, and overall operational efficiency. Manufacturers are also adopting internationally accepted quality standards such as QS-9000, ISO-9001, Six Sigma, so as to meet requirements of global clients. This calls for more stringent regulations and quality processes to be brought in place, which can be achieved by use of metrology products. However, owing to higher operations cost and initial investment, manufacturers tend to rely on metrology service providers. These service providers offer services such as calibration, quality control and so on. Despite strong demand from several sectors, metrology product and service providers face the challenge of demand for customized metrology solutions. This limits the scope of developing universal systems with multiple functionalities. As a result, end users are forced to look for multiple service providers or a single service provider who offers a wide range of metrology services. This however increases the cost involved and forces buyers to purchase their own metrology products. The entry of new players in recent years has made metrology market fragmented in nature. Even though the entry of large number of small players making the environment competitive, there are very few players dominating global markets.
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The research report titled "Metrology Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2012 – 2018" provides detailed analysis of global market for the period 2012 to 2018 and helps in understanding the driving forces and prevailing trends in the market. The metrology services market is segmented based on its major product segments, applications, and major geographical regions. The report provides market size and forecast for market segments.
Competitive profiling of key industry participants, their market positioning, business strategies adopted by them, and various recent developments is included in the scope of study. Porter's five forces analysis further highlights competitive scenarios across different levels of supply chain.
The in-depth research and high level analysis will allow metrology service providers, lawmakers, research and development agencies, and large retailers to make informed decisions about manufacturing, designing, and marketing of metrology services and deciding the growth strategies for gaining competitive advantage.
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