Industry analysts predict a surge in M&A activities in the market space
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global coordinate measuring machine market in their latest research report. This report also lists six other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for coordinate measuring machinery is highly fragmented in nature due to the presence of numerous vendors in the market space. Many local and regional vendors provide CMMs with a high level of customization, which are comparatively cheaper than those of international vendors. New market entrants find it difficult to compete with global vendors in terms of quality, features, functionality, and service.
According to Anju Ajaykumar, a lead analyst at Technavio for research on tools and components, “The competitive environment in the global CMM market is expected to intensify with the increase in technological innovations, M&As, and product extensions. It is anticipated that international players will grow inorganically during the forecast period by acquiring regional or local players.”
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Top five vendors in the coordinate measuring machines market space
Carl Zeiss
Carl Zeiss is a global manufacturer and marketer of optics and optoelectronics equipment. It offers a wide array of products such as eyeglass lenses, cine lenses, planetarium glasses, and binoculars. The company also offers products and technologies to the automotive, mechanical engineering, semiconductor, biomedical research, and medical technology sectors.
Key products: Bridge CMMs, Horizontal arm CMMs, and Production CMMs.
FARO Technologies
FARO Technologies, together with its subsidiaries, engages in the designing, manufacturing, and selling of 3D measurement and imaging systems used in a broad range of construction, manufacturing, reverse engineering, industrial, and forensic applications. The company generates its revenue from various products and services such as extended warranties, training, and technology consulting services.
Key products: Articulated arm CMMs, Laser scan arm CMMs, Focus 3D scanners, and 3D imagers.
Hexagon Metrology
Hexagon Metrology offers products, including automated solutions, CMMs, gauges and hand tools, industrial theodolites and laser stations, laser scanners, laser tracker systems, software, sensors, white light scanner systems, tube inspection systems, multi-sensor and optical systems, milling systems, and portable measuring arms. The company’s caters to industry segments such as aerospace, automotive, powertrain solutions, research and education, railway, shipbuilding, pulp and paper, power generation, medical technology, heavy industry, and domestic appliance manufacturing.
Key products: Bridge CMMs, Gantry CMMs, Horizontal arm CMMs, and Shop floor CMMs.
Mitutoyo
Mitutoyo designs, manufactures, and markets precision measuring instruments. It also offers solution cases and special product cases. The company operates through its various subsidiaries in 22 countries worldwide.
Key products: Manual CMMs, Small and medium-sized CMMs, and Large CMMs.
Nikon Metrology
Nikon Metrology offers a broad range of metrology solutions for applications ranging from miniature electronics to the largest aircraft. The company provides innovative measuring and precision instruments to ensure high-performance, design-through-manufacturing processes which help end-users deliver premium quality products within a shorter duration.
Key products: Bridge CMMs, Gantry CMMs, and High-speed scanning CMMs.
Ask an analyst to know more about this report
A more detailed analysis is available in the Technavio report, Global Coordinate Measuring Machine Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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