Frost Radar in the Global Coordinate Measuring Machine Market

Electronics and Sensors Frost Radar in the Global Coordinate Measuring Machine Market

A Measurement System to Spark Companies 2 Action (C2A)—Innovation That Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
28-Nov-2019
REGION
Global
Deliverable Type
Frost Radar
Research Code: K42B-01-00-00-00
SKU: ES01132-GL-MR_23833
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Frost Radar in the Global Coordinate Measuring Machine Market
Published on: 28-Nov-2019 | SKU: ES01132-GL-MR_23833

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Coordinate measuring machines (CMMs) have changed the way dimensional measurements are made in manufacturing facilities. Their ability to cost-effectively provide accurate measurements and improve productivity has helped the market grow over the past decade. The increased penetration across different manufacturing verticals would have not been possible without an array of technological developments that improved capabilities and created new product categories.

Stationary CMMs accounted for a 76.2% market share in 2018, but they will lose share to fast-growing portable CMMs over the next few years. The need to measure products close to the manufacturing process for reducing cost of quality and improving productivity will increase the demand for shop-floor CMMs. This will drive market growth across all products, regions, and verticals.

The Asia-Pacific region is the largest market, with a 44.6% global share in 2018. This market grew by 7.0% in the year and generated $883.0 million in revenue. It is expected to reach $1,329.6 million by 2023.

Industry convergence from a technological standpoint has propelled the adoption of handheld CMMs. Market participants in this space have integrated advancements in imaging technology, computing, and communication technology with measurement probes to provide the most flexibility in comparison to other CMMs.

Market participants will continue to improve the capability of their products; in particular, they will focus on improving flexibility, productivity, and thermal stability to overcome the threat from competing solutions such as optical digital scanners and laser trackers. More than 25 companies participate in the global CMM market. This Radar focuses on the 16 companies that have a wider product portfolio and presence across 3 or more product segments.

The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Author: Author: Prabhu Karunakaran

Industry Overview

Industry Overview (continued)

The Frost Radar

Description of Companies Plotted

Hexagon AB

ZEISS Group

Mitutoyo Corporation

Faro Technologies

Creaform

WENZEL Group

Nikon Metrology

Perceptron

Metronor

GOM

Innovalia Group

ITP Group Ltd

DUKIN

Xi’an High-Tech AEH Industrial Metrology Co., Ltd

Kreon 3D

Aberlink Innovative Metrology

The Last Word—Key Takeaways

Legal Disclaimer

Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform

Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform (continued)

Frost Radar—C2A

Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

Have questions about this research or need deeper insights?
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Impacting your company's future growth potential.

Coordinate measuring machines (CMMs) have changed the way dimensional measurements are made in manufacturing facilities. Their ability to cost-effectively provide accurate measurements and improve productivity has helped the market grow over the past decade. The increased penetration across different manufacturing verticals would have not been possible without an array of technological developments that improved capabilities and created new product categories. Stationary CMMs accounted for a 76.2% market share in 2018, but they will lose share to fast-growing portable CMMs over the next few years. The need to measure products close to the manufacturing process for reducing cost of quality and improving productivity will increase the demand for shop-floor CMMs. This will drive market growth across all products, regions, and verticals. The Asia-Pacific region is the largest market, with a 44.6% global share in 2018. This market grew by 7.0% in the year and generated $883.0 million in revenue. It is expected to reach $1,329.6 million by 2023. Industry convergence from a technological standpoint has propelled the adoption of handheld CMMs. Market participants in this space have integrated advancements in imaging technology, computing, and communication technology with measurement probes to provide the most flexibility in comparison to other CMMs. Market participants will continue to improve the capability of their products; in particular, they will focus on improving flexibility, productivity, and thermal stability to overcome the threat from competing solutions such as optical digital scanners and laser trackers. More than 25 companies participate in the global CMM market. This Radar focuses on the 16 companies that have a wider product portfolio and presence across 3 or more product segments. The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients. Author: Author: Prabhu Karunakaran
More Information
Deliverable Type Frost Radar
No Index No
Podcast No
Author Prabhu Karunakaran
Industries Electronics and Sensors
WIP Number K42B-01-00-00-00
Is Prebook No
GPS Codes 9404-A5,9594,9426