July 7, 2022
The global market for dimensional metrology software is growing as organizations across sectors expedite automation to align with their digitalization agendas, according to a new analysis from Frost & Sullivan.
In the company's new analysis, Global Dimensional Metrology Software Growth Opportunities finds quality inspection and reverse engineering of components across applications to be key enablers for metrology equipment and software. In fact, the global dimensional software market is expected to reach $850.4 million by 2026 from $613.7 million in 2021, an uptick at a compound annual growth rate (CAGR) of 6.7%.
“With sustainability becoming the overarching theme across industries, focus on electric vehicles (EV), hydrogen fuel cells, and renewable energy sources is growing,” says Ram Ravi, industry principal at Frost & Sullivan. “Improving the efficiency of EV powertrains and electric motors will drive demand for metrology software.”
“As 30% of the manufacturers are in the early stages of digital transformation, the impact of in-line metrology in manufacturing will be prominent in the next two to four years,” Ravi adds. “The trend will encourage vendors to strengthen their software capabilities and couple their solutions with technologies such as artificial intelligence (AI) and machine learning.”
The increasing demand for dimensional metrology software by key industry verticals—automotive, machine shops and aerospace—presents growth opportunities for vendors, including:
- Additive manufacturing (AM): Focus on lightweighting individual components to drive AM as industries strive to achieve sustainability targets.
- In-line metrology solutions: Provide real-time quality control through in-line metrology equipment and advanced software.
- Integrate AI and ML: Reducing product design and part tolerancing cycle time can be achieved through metrology data-fed AI engines.
- Closed-loop quality control system: Provide closed-loop architecture to enable the collection and processing of data for manufacturing and decision-making.
Global Dimensional Metrology Software Growth Opportunities is the latest addition to Frost & Sullivan’s Industrial research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities.
Sources: Press materials received from the company and additional information gleaned from the company’s website.