New analysis from Frost & Sullivan (http://www.testandmeasurement.frost.com), Analysis of the Dimensional Metrology in Emerging Economies, finds that the market earned revenue of $203.9 million in 2011 and estimates this to reach $275.6 million in 2016. The study covers the market segments of coordinate measuring machines (CMM) and the optical digitizer and scanner (ODS).
Market participants are expanding their sales and marketing presence in the BRIC countries to make the most of the nations’ strong market revenue potential. Their direct presence in these emerging countries will fuel competition and therefore, growth.
Successful metrology vendors in BRIC have understood the importance of client interaction and customer-centric product development. In the future, all equipment vendors are likely to work toward expanding their direct presence in this area.
“Further, initiatives to educate customers on technology and new application markets will increase awareness and generate revenue for dimensional metrology equipment vendors,” saidFrost & Sullivan Test & Measurement Research Analyst Aravind Govindan.
Low-cost CMMs have broken entry barriers in BRIC countries. In traditionally conservative industries, such as heavy machinery, customers are hesitant to adopt new technologies such as ODS. However, leading market participants’ efforts to manufacture low-cost CMMs is expected to boost their revenue potential.
Meanwhile, in the ODS market, vendors customize the prices of their solutions to the region’s needs and price sensitivity. Although there is demand for high-end solutions, the low- and mid-range segment accounts for the majority of sales in BRIC countries. As technology improves, the cost of these solutions is expected to decline.
Despite the prevailing economic uncertainty, market participants are optimistic about their prospects. Recently, growing pressure from European and American automotive manufacturers for quality output and standardized manufacturing processes across the value chain has raised the demand for CMMs.
“Due to the slow economic recovery in the U.S. and Europe, BRIC’s exports to developed countries dropped significantly, resulting in inadequate capital expansion and budget approvals for upgrading plant facilities among end users,” noted Govindan. “However, the gradual recovery of the automotive industry in developed countries is expected to bring more investments to automotive plants located in the BRIC countries, thus stimulating the dimensional metrology market.”