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2020 - 2028 Global Coordinate Measuring Machine (CMM) Market
HYDERABAD, TELANGANA, INDIA, February 25, 2022 /EINPresswire.com / -- Coordinate Measuring Machine (CMM) Market Forecasts to 2028 – Global Analysis By Type (Portable CMM, Fixed/Stationary CMM), Offering (Switches, Services), Component (Stage, Controller, Trigger Probe), and By Geography
The Global Coordinate Measuring Machine (CMM) Market is accounted for $2.52 billion in 2020 and is expected to reach $5.78 billion by 2028 growing at a CAGR of 10.9% during the forecast period. Some of the key factors propelling the market growth include growing use of 3D data in modeling and analytical applications, increasing use of metrology in power sector, adoption of in-line solutions and technological advancements, thriving automotive sector, and rise in electric vehicle sales. However, high deployment and maintenance costs are likely to restraining the market growth. The automotive segment is anticipated to grow at the significant rate during the forecast period, due to growing demand for vehicles especially from developing countries such as India and China. Asia Pacific is projected to have considerable market growth during the forecast period, owing to growing population, heavy industrialization, and increasing awareness related to automation.
Some of the key players in Coordinate Measuring Machine (CMM) Market include Keyence Corporation, ABB Ltd., Emerson Electric Co., Carl Zeiss AG (Zeiss Group), AMETEK Inc., Apex Metrology Ltd., Honeywell International Inc., Tokyo Seimitsu Co. Ltd., Siemens AG, Endress+Hauser Management AG, FARO Technologies, Inc., TE Connectivity, Hexagon AB, Vega Grieshaber Kg, Nikon Corporation, Texas Instruments, Mitutoyo Corporation, Creaform, Inc., WENZEL Group GmbH & Co. KG, and Aberlink Ltd.
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