A new analysis by Frost & Sullivan examines the demand for inline metrology solutions in the automotive industry.
One of the key factors driving this demand is the rapid automation of automotive manufacturing plants. Several powertrain and body-in-white manufacturers will replace traditional, manual measurement solutions such as coordinate measuring machines (CMMs) with inline metrology solutions. Going forward, as companies strive to gain a competitive edge by robotising their manufacturing plants, leading automotive manufacturers will demand implementation of end-to-end automated inline metrology.
In its report, ‘Analysis of the Dimensional Metrology Market in the Automotive Industry’, Frost & Sullivan reveals that the market earned revenue of $949.2 million in 2013 and estimates this figure to reach approximately $1,225.1 million in 2018.
The global automotive industry is impacted adversely by the fluctuating economy coupled with an increase in gas prices worldwide. Emerging economies, in particular, have had volatile market conditions, creating concerns for companies in the automotive supply chain. This, in turn, has impacted investments toward dimensional metrology equipment in these geographical areas.
Frost & Sullivan's Measurement and Instrumentation Senior Research Analyst, Aravind Govindan comments that fluctuating growth rates in the automotive industry will also reduce investment by end users in developed countries.
Medium- and small-sized dimensional metrology manufacturers have even reduced the cost of their equipment to overcome this challenge and boost sales, particularly in Asia-Pacific. However, this has had an adverse impact on profit margins and impacted growth of the overall dimensional metrology market.
With growing interest in concepts such as ‘Industry 4.0’, smart factories and zero defects, the trend toward automation continues to gain momentum. The inline metrology segment in the automotive industry is likely to grow at a compound annual growth rate (CAGR) of 12.2 percent until 2018. Dimensional metrology manufacturers will need to adapt their product development strategies to keep pace with the requirements of their automotive customers.
The report, Analysis of the Dimensional Metrology Market in the Automotive Industry covers technologies such as CMMs, optical digitisers and scanners, vision measuring machines, measurement gages and inline metrology.