Coordinate Measuring Machine (CMM) Market by Type (Bridge, Cantilever, Articulated Arm, Handheld) Gl

[147 Pages Report] The CMM market is expected to grow from USD 2.8 billion in 2018 to USD 4.1 billion by 2023, at a CAGR of 8.00% during the forecast period.The study involved 4 major activities in estimating the current size of the coordinate measuring machine (CMM) market. Exhaustive secondary research has been done to collect information about the market, the peer market, and the parent market. To validate these findings, assumptions, and sizing with industry experts across the value chain through primary research has been the next step. Both top-down and bottom-up approaches have been employed to estimate the complete market size. After that, the market breakdown and data triangulation methods have been used to estimate the market size of segments and subsegments.

Secondary Research

The research methodology used to estimate and forecast the CMM market begins with capturing data on revenues of the key vendors in the market through secondary research. This study incorporates the use of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg Businessweek, Factiva, and OneSource to identify and collect information useful for the technical, market-oriented, and commercial study of the CMM market. The vendor offerings have also been taken into consideration to determine the market segmentation. This entire research methodology includes the study of annual and financial reports of top players, presentations, press releases, journals, paid databases, trade directories, regulatory bodies, and safety standard organizations.

Primary Research

The CMM market comprises several stakeholders, such as suppliers, system integrators, suppliers of standard components, and original equipment manufacturers (OEMs) in the supply chain. The demand side of this market is characterized by the development of aerospace & defense, automotive, medical, electronics, energy & power, and heavy machinery, among other industries. The supply side is characterized by advancements in types of CMM and diverse applications. Various primary sources from both the supply and demand sides of the market have been interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents.

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APAC to hold a major share of the CMM market in 2018

Funding for research and development, and extensive industrial base are the major factors that make APAC a dynamic region for the CMM market, with China and Japan being the major contributors. China is one the major manufacturing hubs with immense potential for CMMs. The national plan "Made in China 2025" is being designed to make China a world manufacturing power. The continual need to increase automation has been recognized by Chinese industries and the government. Moreover, the entry of a number of automobile manufacturers in this region has increased the demand for CMMs, which is propelling the growth of the CMM market in APAC.

Major players in the CMM market include Hexagon AB (Sweden), Faro Technologies (US), Nikon Corporation (Japan), Keyence Corporation (Japan), Carl Zeiss (Germany), Mitutoyo Corporation (Japan), GOM (Gesellschaft für Optische Messtechnik) (Germany), Perceptron (US), Creaform, Inc. (Canada), International Metrology Systems (UK), Metronor (Nesbru), Trimek (Spain), Applied Automation Tech (US), Wenzel (Germany), N. J. Metrology (UK), Avon-Dynamic (UK), Eley Metrology Limited (UK), The Sempre Group (UK), Apex Metrology Ltd (UK), and Tokyo Seimitsu Co., Ltd. (Japan).