Coordinate Measuring Machine Market Size, Share, Growth Analysis, By Component, By Offerings, Type (Fixed CMM, Portable CMM), By Application, By End Use Industry, By Region - Industry Forecast 2024-2031
Global Coordinate Measuring Machine Market size was valued at USD 4.5 billion in 2022 and is poised to grow from USD 4.8 billion in 2023 to USD 8.4 billion by 2031, growing at a CAGR of 7.3% during the forecast period (2024-2031).
The coordinate measuring machine (CMM) market is experiencing significant growth, fueled by the rising demand for precision measurements across key industries such as automotive, aerospace, manufacturing, and electronics. These advanced devices are essential for quality control, with market segments including bridge, gantry, and portable CMMs tailored to specific industry needs. The Asia-Pacific region, notably China and India, is becoming a major player due to rapid industrialization and the uptake of advanced manufacturing technologies. North America and Europe remain strong contributors, driven by their established manufacturing bases. Growth factors include the push for accurate measurements, automation, and smart factories, alongside the emergence of multisensor and integrated software solutions. However, challenges like high costs and operational complexities persist, prompting ongoing R&D investments to enhance affordability and functionality in this evolving market.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Coordinate Measuring Machine market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Coordinate Measuring Machine Market Segmental Analysis
Global Coordinate Measuring Machine Market is segmented by Component, Offerings, Type, Application, End Use Industry and region. Based on Component, the market is segmented into Bridge, Trigger Probe (Contact Probe, Non-contact Probe), Stage, Controller. Based on Offerings, the market is segmented into Hardware, Switches, Services (After-sales Services, Software-as-a-service, Measurement Services). Based on type, the market is segmented into Fixed CMM, and Portable CMM. Based on Application, the market is segmented into Quality Control & Inspection, Reverse Engineering, Virtual Simulation, Profiling & Assessment. Based on End Use Industry, the market is segmented into Automotive, Aerospace, Heavy Machinery, Energy & Power, Electronics, Medical, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Driver of the Global Coordinate Measuring Machine Market
The growth of the automotive and aerospace sectors significantly propels the demand for coordinate measuring machines (CMMs), as these industries prioritize precision and quality control in their manufacturing processes. As these industries evolve and expand, the need for advanced measurement solutions becomes increasingly critical to maintain high standards of accuracy and consistency. CMMs are essential tools that facilitate meticulous inspections and measurements, enabling manufacturers to uphold stringent quality benchmarks. Consequently, the ongoing advancements and expansion in automotive and aerospace manufacturing are key drivers for the global Coordinate Measuring Machine market, as they seek to enhance productivity and eliminate errors in their production lines.
Restraints in the Global Coordinate Measuring Machine Market
One of the significant constraints facing the Global Coordinate Measuring Machine (CMM) market is the shortage of skilled workforce. The operation of CMMs demands highly trained technicians who possess specialized knowledge and expertise. Unfortunately, the limited availability of qualified personnel can significantly impede the broader implementation and utilization of these advanced measuring systems. This lack of skilled workers not only affects the efficiency of CMM operations but also creates challenges for organizations seeking to leverage these machines for precision measurement in manufacturing and quality control processes. Consequently, addressing the skills gap is essential for the market's growth and sustainability.
Market Trends of the Global Coordinate Measuring Machine Market
The Global Coordinate Measuring Machine (CMM) market is witnessing significant growth attributed to the rise of Industry 4.0 and smart manufacturing. The integration of advanced technologies, including the Internet of Things (IoT) and data analytics, is revolutionizing measurement processes by facilitating real-time monitoring and control. This trend is increasingly influencing manufacturers to adopt connected CMMs, enhancing production quality and operational efficiency. As industries strive for greater automation and productivity, the demand for sophisticated measurement solutions is expected to expand, positioning CMMs as essential tools in achieving competitive advantage within the evolving manufacturing landscape.
Table of Contents
Introduction
Objectives of the Study
Scope of the Report
Definitions
Research Methodology
Information Procurement
Secondary & Primary Data Methods
Market Size Estimation
Market Assumptions & Limitations
Executive Summary
Global Market Outlook
Supply & Demand Trend Analysis
Segmental Opportunity Analysis
Market Dynamics & Outlook
Market Overview
Market Size
Market Dynamics
Driver & Opportunities
Restraints & Challenges
Porters Analysis & Impact
Competitive rivalry
Threat of substitute
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
Key Market Insights
Key Success Factors
Degree of Competition
Top Investment Pockets
Market Ecosystem
Market Attractiveness Index, 2023
PESTEL Analysis
Macro-Economic Indicators
Value Chain Analysis
Pricing Analysis
Technological Advancement
Regulatory Landscape
Case Studies
Customer & Buying Criteria Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Global Coordinate Measuring Machine Market Size by Component & CAGR (2024-2031)
Market Overview
Bridge
Trigger Probe
Contact Probe
Non-contact Probe
Stage
Controller
Global Coordinate Measuring Machine Market Size by Offerings & CAGR (2024-2031)
Market Overview
Hardware
Switches
Services
After-sales Services
Software-as-a-service
Measurement Services
Global Coordinate Measuring Machine Market Size by Type & CAGR (2024-2031)
Market Overview
Fixed CMM
Bridge
Cantilever
Gantry
Portable CMM
Articulated Arm
Handheld
Global Coordinate Measuring Machine Market Size by Application & CAGR (2024-2031)
Market Overview
Quality Control & Inspection
Reverse Engineering, Virtual Simulation
Profiling & Assessment
Global Coordinate Measuring Machine Market Size by End Use Industry & CAGR (2024-2031)
Market Overview
Automotive
Aerospace
Heavy Machinery
Energy & Power
Electronics
Medical
Others
Global Coordinate Measuring Machine Market Size & CAGR (2024-2031)
North America, (Component, Offerings, Type, Application, End Use Industry)
US
Canada
Europe, (Component, Offerings, Type, Application, End Use Industry)
UK
Germany
Spain
France
Italy
Rest of Europe
Asia-Pacific, (Component, Offerings, Type, Application, End Use Industry)
China
India
Japan
South Korea
Rest of Asia Pacific
Latin America, (Component, Offerings, Type, Application, End Use Industry)
Brazil
Rest of Latin America
Middle East & Africa, (Component, Offerings, Type, Application, End Use Industry)