Wireless Micrometer Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026

Albany, NY -- (SBWire) -- 05/23/2019 --Micrometers are used for accurate measurement of components in machining and mechanical engineering. Wireless micrometer is a recent innovation in digital micrometer technology. Wireless micrometer eliminates cumbersome and long data cables, and enables wireless data communication and transmission between measuring tool and PC. Wireless communication technology enables data transmission up to 10 times faster compared to standard micrometers. Some of the market players also provide non-rotating spindle in wireless micrometers. Non-rotating spindle avoids work piece damage due to scratch marks on fine and sensitive machined surfaces caused by spinning spindle. The thin metal foils can be measured without twisting or bending them. The error-free data can be recorded and stored in real-time in a software in a PC or in excel. Certain market players provide standard, dedicated software for data collection on PC. Wireless micrometers offer significant improvement in data tracking and production efficiency, leading to improved product quality and reduced labor costs. Due to significant growth of ecommerce, wireless micrometers are available on various online portals at competitive prices. These online portals enable buyers to compare features and pricing and opt for the best available product.

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Rising demand from various industries for accurate measurement instruments and high reliability and quick response time offered by wireless micrometers are expected to drive the growth of the wireless micrometer market during the forecast period. Various industries including manufacturing, defense & marine, and automotive require high accuracy measurement tools to ensure the quality of products. Wireless digital micrometers are utilized for attaining accuracy and reliability required for quality assurance in these industries. In order to capitalize on the rising demand for the product, market players are expected to expand their presence in Middle East & Africa and Asia Pacific. Expansion in these emerging regions is expected to present lucrative growth opportunities to the market players. However, high pricing of wireless micrometer compared to its standard counterparts is expected to limit the market growth during the forecast period. Small and medium sized enterprises find it hard to buy the highly priced micrometers.

The global wireless micrometer market can be segmented based on component, sales channel, end-user industry, enterprise size, and geography. In terms of component, the wireless micrometer market can be divided into hardware and software. Based on sales channel, the global wireless micrometer market can be bifurcated into original equipment manufacturer (OEM) and aftermarket. In terms of end-user industry, the wireless micrometer markcan be classified into automotive, defense & aerospace, manufacturing, pharmaceutical & healthcare, construction, and others. For the purpose of quality assurance, manufactured products are required to be checked with great accuracy. This generates high demand for wireless micrometer in the manufacturing industry. By enterprise size, the global wireless micrometer market can segmented into small and medium enterprises and large enterprises. The large enterprises segment is likely to constitute dominant share of the global wireless micrometer market during the forecast period. Based on geography, the global wireless micrometer market can be split into North America, South America, Europe, Asia Pacific, and Middle East & Africa. The wireless micrometer market in the emerging economies of Asia Pacific, especially China and India, is anticipated to rapidly during the forecast period.

Market players are implementing various strategies such as launch of technologically-advanced products to expand their market share. In August 2018, Mahr GmbH, a Germany-based leading manufacturer and distributor of dimensional metrology solutions, launched high-speed Micromar 40EWRi-L digital micrometers. The product has integrated wireless data transmission technology that enables measurement of components 10 times faster than the standard micrometer.

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A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market