San Francisco, California, June 26, 2018: The rising demand from emerging economies is likely to bode well for the industrial metrology market, finds TMR Research in a new study. The report is titled “Industrial Metrology Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” and it offers a comprehensive market overview. It covers various market forces enabling or restricting growth in the global industrial metrology market. It also offers market intelligence for market players as well as consumers.
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The rising use of industrial metrology in automotive sector is expected to open avenues for growth for the market. Considering this, expansion of the automotive industry in emerging nations such as India and China will bode well for the market players. On the downside, setting up a metrology facility requires huge investments at the initial phase, which have become a key deterrent to market’s growth especially in underdeveloped market. Besides this, the market is reeling under lack of expertise for handling metrology systems. This is likely to restrain its growth to an extent.
Nonetheless, rising investment from aerospace and automotive industries is forecast to create lucrative growth prospects for the market. The demand witnessed in these sectors is driven the pressing need of intense quality control and inspection. As per the report, the rising adoption of industrial metrology for various monitoring functions and quality control will boost the global industrial metrology market. Other than this, the market will gain from the accelerating demand for measurement components in energy and power sector. As per TMR Research, the rising trend of outsourcing certain operations in the healthcare sector will pave way for the market in the coming years.
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Regionally, the global industrial metrology market can be segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. As per TMR Research, China exhibits huge potential for the market on account of the rising application of industrial metrology across diverse sectors. Furthermore, the market is expected to benefit from favorable initiatives adopted by the Government of India to encourage manufacturing in the country.
Some of the leading companies operating in the global industrial metrology market are Applied Materials, Nikon Metrology, and JLM Advanced Technical Services.