Metrology Software Market Predicted For Growth
According to Frost & Sullivan’s recent analysis, ‘Global Dimensional Metrology Software Growth Opportunities’, the global market for dimensional metrology software is growing as organizations across sectors expedite automation to align with their digitalization agendas. The study finds quality inspection and reverse engineering of components across applications to be key enablers for metrology equipment and software and estimates that the global dimensional software market will 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,” states Ram Ravi, Industry Principal at Frost & Sullivan. “Improving the efficiency of EV powertrains and electric motors will drive demand for metrology software.”
Ravi added: “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. 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 including automotive, aerospace, and machine shops presents growth opportunities for metrology software vendors. The study recognized the following growth and opportunity areas:
In-line metrology solutions: Provide real-time quality control through in-line metrology equipment and advanced software.
Closed-loop quality control system: Provide closed-loop architecture to enable the collection and processing of data for manufacturing and decision-making.
Additive manufacturing (AM): Focus on lightweighting individual components to drive AM as industries strive to achieve their sustainability targets.
Integrate AI and ML: Reducing product design and part tolerancing cycle time can be achieved through metrology data-fed AI engines.
The report comments that existing companies offering product life cycle management (PLM) solutions will look to acquire conventional inspection software companies in the coming future and also noted the trending preference towards in-machine inspection or in-line
metrology paving the way for smarter optical or multi-sensor metrology solutions.
For more information: www.frost.com