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London, United Kingdom, 2007/08/27 - New research from Frost & Sullivan, World Micro Metrology Equipment Market, finds that the market earned revenues of $726.0 million in 2006 and estimates this to reach $1,382.5 million in 2013.
The world micro metrology equipment market is expanding steadily, driven primarily by the growing miniaturisation of parts and rising demand from the Asia Pacific region. High equipment costs will level off over time as customer awareness and volume sales increase.
New research from Frost & Sullivan (testandmeasurement.frost.com), World Micro Metrology Equipment Market, finds that the market earned revenues of $726.0 million in 2006 and estimates this to reach $1,382.5 million in 2013.
If you are interested in a virtual brochure, which provides manufacturers, end users and other industry participants with an overview of the latest analysis of the World Micro Metrology Equipments Market, send an email to Joanna Lewandowska, Corporate Communications, at joanna.lewandowska[.]frost.com with your full name, company name, title, telephone number, email address, city, state and country. We will send you the information by email upon receipt of the above information.
“Rapid technological advances, coupled with the continuous drive to miniaturise parts, are aiding market development,” notes Frost & Sullivan Research Analyst Deepak Kannan. “The ability of micro metrology equipment to effectively meet the high accuracy and precision needs of end users in a timely manner is also reinforcing positive growth forecasts.”
Measuring gages, optical and non-contact measurement equipment are in high demand from a wide range of end-user industries including automotive, aerospace and defence, the military and electronics manufacturing. High technology end-user industries are constantly investing in new technologies in order to improve the measurement process, thereby creating growth opportunities for advanced micro metrology equipment.
“The overall market is expected to expand steadily with growth prospects emerging in the Asia Pacific region,” says Kannan. “The establishment of manufacturing hubs for infrastructure development and automotive production in the region will offer equipment manufacturers based in North America and Europe the opportunity to establish a global presence by diversifying to Asia Pacific.”
Currently, high equipment costs are dampening efforts to boost volume sales. The dearth of skilled labour to operate high-end equipment with complex functionalities and the lack of equipment standards are also impeding rapid market growth.
“Significant investments being made in technology development reflect in the high final cost of the equipment, hindering wider market penetration,” states Kannan. “Moreover, the lack of universal standards is making it difficult for customers to compare equipment made by different manufacturers and make an informed choice.”
Raising customer awareness will be important to enhance market penetration. Ensuring that customers understand the advantage of using optical and non-contact measurement systems will be imperative to sustain market growth. The move towards achieving complete automation and improving user interface could reduce the necessity of skilled labour.
World Micro Metrology Equipments Market is part of the Test & Measurement Growth Partnership Services, which also includes research in the following markets: World Wireless Network Monitoring Systems Markets, World Oscilloscopes Markets, Asia Pacific General Purpose Test and Measurement Equipment Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
About Frost & Sullivan
Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics.