Industrial Metrology Market Size, Share, Growth Analysis, By Offering(Hardware, Software, Services (After-Sales Services, Measurement Services), By Equipment(Coordinate Measuring Machine (CMM) [Fixed CMM (Bridge CMM, Gantry CMM, Horizontal Arm CMM, Cantilever CMM)), By Application(Quality Control & Inspection, Reverse Engineering, Mapping & Modeling, Other Applications), By End-User Industry(Aerospace & Defense, Automotive, Semiconductors, Manufacturing), By Region - Industry Forecast 2024-2031

Global Industrial Metrology Market size was valued at USD 14.2 billion in 2022 and is poised to grow from USD 15.17 billion in 2023 to USD 25.67 billion by 2031, growing at a CAGR of 6.80% during the forecast period (2024-2031).

A few important factors that lead to significant industrial metrology market growth include growth in demand from the defense sector. It is considered one of the key drivers, since new systems and technologies can only be developed with precise measurements and quality control. For instance, the aerospace industry depends heavily on industrial metrology because of the critical component of achieving safety and precision in products such as space exploration technology and airplanes. Moreover, the construction industry is another contributor that relies on metrology instruments because infrastructure and building structures must adhere to concepts and basic safety standards designed and constructed strictly.

Furthermore, increasing awareness in the automobile industry of the requirement for reliable, high-precision measurement systems to fully utilize production processes drives the industrial metrology industry. Sophisticated metrology for proper measurements is boosting demands to ensure accurate battery production, motor assembly, and quality assurance in the overall vehicle to meet the trend toward electric vehicles (EVs). Industrial metrology is critical for new technologies in cars to dependably be safe and effective. In addition, the improvement in fire detection systems, where new developments enable the detection of fire not by the presence of flames but by changes in the surrounding environment. As progress continues to be made in the technology related to fire safety, there is a great chance that industrial metrology can improve detection systems and provide faster, more precise reactions.