Coordinate Measuring Machine Market size is expected to surpass USD 9 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of coordinate measuring machines was valued at USD 4 Billion. The rise in the need for high quality products in a competitive market has led to a surge, in precision manufacturing. To meet this rising demand companies are investing in machinery and technologies like coordinate measuring machines (CMMs).
With the increasing emphasis on meeting regulatory standards and customer demands there is a growing need for advanced metrology solutions such, as CMMs. This is driven by the importance placed on quality control and inspection. CMMs offer manufacturers the ability to achieve dependable measurements allowing them to verify the dimensional precision of components detect any imperfections and guarantee adherence, to quality standards.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~7% |
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Base Year Market Size (2022) |
~ USD 4 Billion |
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Forecast Year Market Size (2035) |
~ USD 9 Billion |
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Regional Scope |
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Machine Type (Portable, Handheld, Articulated Arm, Bridge)
The portable segment in the coordinate measuring machine market is estimated to gain the largest revenue share of about ~52% in the year 2035 attributed to the rising demand from the automotive industry for highly accurate measurement solutions. The portability of these machines allows users to take them to different locations and environments making them suitable for a variety of applications such as automotive parts inspection and machine tool calibration. Additionally, the development of new technologies such as laser trackers and optical trackers has made portable CMM systems even more accurate and efficient.
Industry (Electronics, Automotive, Aerospace & Defense Heavy Machinery, Medical, and Metal Fabrication)
Coordinate measuring machine market from the heavy machinery segment is estimated to gain a significant share of about ~47% in the year 2035. This is because CMMs allow for more accurate measurements of heavy machinery parts and components. This leads to higher quality and better performance of machinery, which is essential in industries such as earthmoving, excavation, and agricultural machinery.
Moreover, the rising demand for efficient and cost-effective heavy machinery in the construction and mining industry along with the increased focus on automation and the development of new technologies to improve heavy machinery efficiency is expected to further boost the segment's growth.
Our in-depth analysis of the global market includes the following segments:
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Machine Type |
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Application |
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Industry |
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APAC Market Forecast
Coordinate measuring machine market in Asia Pacific, amongst the market in all the other regions, is anticipated to hold the largest with a share of about ~38% by the end of 2035. The growing manufacturing industry such as electronics and heavy machinery in the region, will lead to increased demand for CMMs, as manufacturers seek to improve the accuracy and precision of their products. Observations indicate that China's manufacturing output in 2021 increased by 27% from that of 2020, reaching USD 4,866 billion.
Moreover, with more auto parts manufacturers in the region, especially in India, China, and Japan, automotive companies are investing heavily in automation technologies to reduce production costs and increase productivity.
North American Market Statistics
The North American coordinate measuring machine market is estimated to be the second largest, registering a share of about ~32% by the end of 2035 attributed majorly to the growing demand for automation and integration of industrial production processes in the automotive and aerospace industries. As more companies in the region are looking to increase their production capacities and reduce labor costs, the demand for coordinate measuring machines is expected to increase.
In addition, technological advancements in the field of machine vision and 3D imaging have increased accuracy and speed, allowing for more accurate quality control and faster feedback, both of which are essential for modern production.
Author Credits: Mohd Shadab, Yashika Karodiwal
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