Artificial Intelligence
Global Metrology Software Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)
New York, Feb. 18, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Metrology Software Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06231652/?utm_source=GNW
Measurements are conducted in the production process rather than measuring rooms, fostering the demand for metrology used in a modularized method in plants and production lines and impacting the demand for standard measuring instruments.
Key Highlights
The use of metrology software to inspect manufactured products is one of the critical factors expected to drive the growth of the global metrology software market in the next five years. The principal factors driving demand for metrology solutions in electronic manufacturing are advanced nanotechnology, smart materials, flexible electronics, and green manufacturing. Currently, everything is being digitized; even the metrology field has noticed the need to change digitally. As the world shifts toward digital transformation, the industry also embraces the transformation, allowing the metrology software market to grow more during the forecast period.
Metrology software connects the dots among CAD, ERP, MRP, and PLM. Metrology is one of the first challenges one encounters when working down the design/build process. Post-CAD measurement data is often necessary to collect missing feature data, create geometry for complex surfaces profiles, and support manufacturing, engineering, toolmaking, assembly guidance, and quality verification.
With the outbreak of COVID-19, there has been a significant impact on the technology sector. Disruptions of an electronic supply-value chain and raw material supply have adversely impacted the technology industry.
According to the Korea Automotive Technology Institute, or Katech, the global shortage of automotive semiconductors that started around the end of 2020 would continue to affect the global car industry for the first half of 2022. Even after 2023, some companies may still feel its effects.?
Key Market Trends
Aerospace Sector to Witness Significant Growth
Since the dawn of flying, technology has advanced at a breakneck pace, and planes are now vastly more sophisticated. The use of metrology in aerospace has been critical to this progress, and metrology’s importance is expected to only rise in the following decades, thus driving the market for metrology software.
Aircraft that are lighter, more efficient, and safer are made with composite materials, which are essential to the continued development of aerospace production. Composite materials are light and incredibly robust, and long-lasting. They may also be molded into more intricate shapes than typical metals like steel and aluminum, which has two benefits. To begin with, fewer fasteners and joints are required, resulting in fewer weak points. Second, because there are fewer pieces, assembly times are reduced.
In order to construct lighter, more efficient planes, the usage of composite parts is critical in the future of aerospace manufacturing. While composite-part airplanes have reduced operational costs, their production costs are often higher. Composites are more expensive than steel and aluminum because they are lighter, stronger, and more durable, and metrology-assisted assembly is crucial for keeping the production process cost-effective. As composite parts grow increasingly common, metrology’s significance as a value-added component is becoming more widely recognized.
The disadvantage of composite materials is that they are more expensive than their metallic counterparts. However, metrology comes into play here, supporting the assembly process in developing more cost-effective production procedures. The crucial significance of metrology in aircraft is expected to only grow as the usage of composite materials develops among the significant commercial plane builders.
Despite its numerous advantages, composite is tough to work with material requiring precise assembly with very tight tolerances. Using metrology in the manufacturing process may help one avoid costly mistakes and scrap or rework material.
With the aerospace industry presently demanding 100% inspection from their tier-1 suppliers, companies need to deliver accuracy, repeatability, and dependability for the most challenging measurement tasks.
Asia Pacific Occupies the Largest Market Share
Due to the presence of various automotive giants and aerospace establishments in the region and their increasing interest in high-accuracy metrology solutions, Asia Pacific is expected to have the highest growth of metrology software solutions.
China is a global manufacturing hub. Since the precision and complexity in manufacturing processes have been increasing rapidly, the metrology software market is expected to boost this area, as China currently has several national and international manufacturing facilities.
With support from Huawei and China Mobile, Haier has successfully applied innovative manufacturing solutions combining 5G and mobile edge computing in its smart factories. These solutions integrate 5G edge computing with artificial intelligence and machine vision in manufacturing environments. These apply to various manufacturing scenarios where they can perform various functions. The metrology software solutions can save manufacturing costs by rapidly performing QC checks with over 99% accuracy, at least 10% more accurate than without the function. Such instances are expected to drive the market’s growth in the region.
Companies have had various partnerships and collaborations in Japan by companies to enhance their measurement and inspection solutions further and improve their presence and customer base. Various companies have been seeking an effective technology that can help to fully automate and enhance better cost-effective visual inspection and measurement solutions that significantly improve quality control and reduce manufacturing costs.
For instance, in February 2021, Mitutoyo, a company specializing in measuring instruments and metrological technology, announced a partnership agreement with Kitov, enabling Mitutoyo to integrate Kitov’s technologies across its metrology solutions. The agreement also brought a framework for joint development of new solutions that combine Mitutoyo’s measurement technologies and Kitov’s planning and inspection technologies.
Competitive Landscape
The metrology software market is moderately competitive with the presence of many players in the market. The market is moderately concentrated, with the major players applying strategies, like product innovation and mergers and acquisitions.
October 2021 – 3D System Corporation announced the release of Geomagic Control X 2022.0.0. The latest release offers new features and functionality to improve workflow and automation. The latest update includes new tools and performance improvements, reducing the time required to finish a workflow.
October 2021 – Creaform announced the latest additions to its R-series lineup, including the new MetraSCAN-R BLACK | Elite HD with improved performance. This suite of solutions also includes a new version of the VXscan-R module specifically created to support custom automatic 3D cancel layouts while maintaining the ease of use of digital twin programming software.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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