Kenneth Research, in its repository of market research reports, has recently added a report on Industrial Metrology Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Industrial Metrology Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Industrial Metrology Market products.

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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017. Moreover, backed by the increasing demand for high-speed internet amongst the individuals, organizations operating in the field of telecom are increasingly working on deploying 5G network technology, as this technology provides internet access at very high speeds. By 2025, it is estimated that as many as 1.2 billion of total internet connections will account to 5G. Further, one-third of the world is projected to be covered with 5G connectivity by the end of 2030.

Kenneth Research recently added a report on ‘Industrial Metrology Market  in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Industrial Metrology Market  along with the compound growth rate (CAGR) of the market for a projected period between 2021 2025. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter’s five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.

Global Industrial Metrology Market Analysis
According to Verified Market Research, the global Industrial Metrology Market was valued at USD 9.08 Billion in 2017 and is projected to reach USD 14.41 Billion by 2025, growing at a CAGR of 6.0% from 2018 to 2025.

What is Industrial Metrology?
Industrial metrology is used in order to ensure that instruments used in a wide variety of industries are functioning properly. It also ensures the appropriateness of measurement instruments including the maintenance, quality control, and proper calibration of these instruments. Industrial metrology have wide range of application in following end-user: Aerospace and Defense, Automotive, Manufacturing, Semiconductor and many others. Rising big data analytics market and growing demand for inspection services in manufacturing units have fuelled the growth of industrial metrology market.

The Final Report will cover the impact analysis of COVID-19 on this industry:

Global Industrial Metrology Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Growing focus on quality control in various industries, rising demand for automobiles in developing countries and developing big data analytics market have been driving the global industrial metrology market. On the other hand, high cost of setting up metrology facility and lacking expertise required for efficient handling of metrological systems might hamper the overall growth at a global level.

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Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Industrial Metrology Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.

Global Industrial Metrology Market Competitive Landscape
The “Global Industrial Metrology Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Hexagon, FARO Technologies, Nikon Metrology, Carl Zeiss Optotechnik, Jenoptik, GOM, and Creaform. Renishaw, KLA-Tencor, Applied Materials, Perceptron, GoM, Automated Precision, JLM Advanced Technical Services, Precision Products, CARMAR ACCURACY, Pollen Metrology, and Cairnhill Metrology. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.

Global Industrial Metrology Market Segmentation, by Type
• Hardware
• Software
• Solutions
• Services

Global Industrial Metrology Market Segmentation, by Equipment
• Coordinate Measuring Machine
• Optical Digitizer and Scanner
• Measuring Instrument
• X-Ray and Computed Tomography
• Automated Optical Inspection
• 2D Equipment

Global Industrial Metrology Market Segmentation, by Application
• Reverse Engineering
• Quality Control and Inspection
• Mapping and Modelling
• Other

Global Industrial Metrology Market Segmentation, by End user
• Aerospace and Defense
• Automotive
• Manufacturing
• Semiconductor
• Others

Global Industrial Metrology Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Latin America
o Brazil
• Rest of the World

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