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Sep 24, 2020 (The Expresswire) —
The global coordinate measuring market is likely to benefit from growing applications of the product across diverse industries. According to a report by Fortune Business Insights, titled “Coordinate Measuring Machines”Market Size, Share and Global Trend By Type (Fixed, Bridge, Cantilever, Gantry, Portable, Articulated Arm, Handheld), By Industry (Electronics, Automotive and Aerospace, Energy and Power, Heavy Machinery, Medical, Others), By Application (Quality Control and Inspection, Reverse Engineering, Virtual Simulation), and Geography Forecast till 2026, the market will derive growth from recent product advancements that have yielded precise CMM in recent years.
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A coordinate measuring machine that shows the location of an object by collecting a three-dimensional set of points. The coordinate measuring machine (CMM) can operate by maintaining an acceptable degree of accuracy and repeatability. The CMM is a sub-segment of the metrology market that possesses the ability to measure electromagnetic, optical radiation, dimensional, and thermodynamic parameters of a product. Additionally, the ability of CMM to enhance the production cycle management has led to an increased efficacy for the product across the world. Recent product advancements have led to an improved precision for sub-variants of CMM in recent years. This, in turn, will lead to increased adoption of coordinate measuring machines in several regions across the world. The report encompasses several factors that have contributed to the growth of the global CMM market in recent years.
Top Players Overview:
- Hexagon Consulting
- FARO Technologies
- Nikon Research Corporation of America
- KEYENCE CORPORATION
- Mitutoyo America Corporation
- Applied Automation Technologies, Inc.
- Eley Metrology Ltd
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Increasing Number of Company Collaborations Will Offer Extensive Growth Opportunities
The increasing number of company collaborations will boost the market in the coming years. Growing mergers and acquisitions, agreements, and takeovers have opened the doors for elevated growth for the companies involved in such activities. Fortune Business Insights has predicted that mergers and acquisitions have constituted an increase in the global coordinate measuring machine market value in recent years. In 2018, Hexagon AB announced the acquisition of External Array Software, with the aim of developing high functionality based metrology software. The company aims to establish a strong market brand on a global scale. Fortune Business Insights has predicted that Hexagon’s latest acquisition will help the company generate a substantial coordinate measuring machine market revenue in the forthcoming years.
Uses of CMM in Trading Activities Will Favor Growth of the Market in the Asia Pacific
The developments in advanced manufacturing technologies in several countries across the Asia Pacific have led to product advancements. Recent product advancements will fuel the demand for coordinate measuring machines in this region. The report highlights a few of the major product launches of recent times and gauges the impact of these products on the global market. The increasing uses of CMM in export-oriented industrializing countries such as India and China will lead to the growth of the CMM market in the Asia Pacific. Fortune Business Insights has predicted that the CMM market in the Asia Pacific will generate a substantial amount of CMM market revenue in the coming years.
Fortune Business Insights has profiled a few of the prominent CMM market companies of recent years. Besides this, Fortune Business Insights highlights some of the exceptional business strategies that these companies have adopted. Some of the leading companies that are operating in the global CMM market are HEXAGON, FARO Technologies Inc., Nikon Corporation, Keyence Corporation, ZEISS International, Mitutoyo America Corporation, CREAFORM, Applied Automation Technologies Inc., Avon-Dynamic, and Eley Metrology.
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Key Segmental Overview:
1. By Type
- Articulated Arm
2. By Industry
- Automotive and Aerospace
- Energy and Power
- Heavy Machinery
3. By Application
- Quality Control and Inspection
- Reverse Engineering
- Virtual Simulation
4. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East and Africa (GCC, South Africa and Rest of Middle East and Africa)
For more information in the analysis of this reporthttps://www.fortunebusinessinsights.com/industry-reports/coordinate-measuring-machines-market-100643
Major Table of Content For Coordinate Measuring Machines Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Coordinate Measuring Machines Market Analysis, Insights and Forecast, 2026
- North America Coordinate Measuring Machines Market Analysis, Insights and Forecast, 2026
- Europe Coordinate Measuring Machines Market Analysis, Insights and Forecast, 2026
- Asia Pacific Coordinate Measuring Machines Market Analysis, Insights and Forecast, 2026
- The Middle East and Africa Coordinate Measuring Machines Market Analysis, Insights and Forecast, 2026
- Latin America Coordinate Measuring Machines Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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