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Engineering Industry Reports and Surveys
News Release from: Frost and Sullivan
Edited by the Engineeringtalk Editorial
Team on 30 August 2007
Micro metrology market grows steadily
New research suggests high equipment costs in the micro metrology market will level off over time as customer awareness and volume sales increase.
The world micro metrology equipment market is expanding steadily, driven primarily by the growing miniaturisation of parts and rising demand from the Asia Pacific region High equipment costs will level off over time as customer awareness and volume sales increase
This article was originally published on Engineeringtalk on 9 Aug 2000 at 8.00am (UK)
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New research from Frost and Sullivan, World Micro Metrology Equipment Market, finds that the market earned revenues of US $726.0 million in 2006 and estimates this to reach US $1382.5 million in 2013.
"Rapid technological advances, coupled with the continuous drive to miniaturise parts, are aiding market development", notes Frost and Sullivan Research Analyst Deepak Kannan.
"The ability of micro metrology equipment to effectively meet the high accuracy and precision needs of end users in a timely manner is also reinforcing positive growth forecasts".
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Measuring gauges, optical and noncontact measurement equipment are in high demand from a wide range of end-user industries including automotive, aerospace and defence, the military and electronics manufacturing.
High technology end-user industries are constantly investing in new technologies in order to improve the measurement process, thereby creating growth opportunities for advanced micro metrology equipment.
"The overall market is expected to expand steadily with growth prospects emerging in the Asia Pacific region", says Kannan.
"The establishment of manufacturing hubs for infrastructure development and automotive production in the region will offer equipment manufacturers based in North America and Europe the opportunity to establish a global presence by diversifying to Asia Pacific".
Currently, high equipment costs are dampening efforts to boost volume sales.
The dearth of skilled labour to operate high-end equipment with complex functionalities and the lack of equipment standards are also impeding rapid market growth.
"Significant investments being made in technology development reflect in the high final cost of the equipment, hindering wider market penetration", states Kannan.
"Moreover, the lack of universal standards is making it difficult for customers to compare equipment made by different manufacturers and make an informed choice".
Raising customer awareness will be important to enhance market penetration.
Ensuring that customers understand the advantage of using optical and noncontact measurement systems will be imperative to sustain market growth.
The move towards achieving complete automation and improving user interface could reduce the necessity of skilled labour.
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