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Industrial Metrology Market worth $20.6 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Feb. 19, 2024 /PRNewswire/ — The global industrial metrology market was valued at USD 14.9 billion in 2024 and is projected to reach USD 20.6 billion by 2029, registering a CAGR of 6.7% during the forecast period according to a new report by MarketsandMarkets™. The industrial metrology market is primarily driven by the increasing demand for quality and inspection equipment in the precision manufacturing industry. There is a growing focus on manufacturing superior- and uniform-quality products, which necessitates the use of advanced metrology solutions for precise measurement and inspection. Additionally, the surging demand for big data analytics is contributing to the growth of the industrial metrology market as manufacturers seek to leverage data-driven insights for process optimization and quality control.

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Browse in-depth TOC on “Industrial Metrology Market” 
145 – Tables
58 – Figures
309 – Pages

Industrial Metrology Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 14.9 billion

Estimated Value by 2029

$ 20.6 billion

Growth Rate

Poised to grow at a CAGR of 6.7%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Offering, Equipment, Application, End-User Industry, and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Lack of data integrity and protection against cyber security

Key Market Opportunities

Rise in demand for industry 5.0

Key Market Drivers

Integration of IoT sensors with industrial metrology for promoting evolution in smart manufacturing

By Application: Quality Control & Inspection is projected to grow at the highest CAGR during the forecast period.

The industrial metrology market, particularly the surge in demand for 3D metrology equipment, is a significant driver of growth, notably within manufacturing industries where it is increasingly utilized for quality control and inspection purposes. The rising competition and imperative to enhance safety have driven widespread adoption of quality control and inspection systems across diverse industries, including automotive, aerospace and defense, and semiconductors. Moreover, the adoption of advanced inspection tools and technologies, such as automated quality inspection systems, is expected to improve the accuracy, efficiency, and overall reliability of quality control efforts, thereby further contributing to the expansion of quality control and inspection applications.

By Offering: Services offered account for the highest CAGR during the forecast period.

Service-based offerings are projected to experience growth in the industrial metrology market driven by various factors. The increasing need for regular system upgrades is propelling the expansion of after-sales services, ensuring the continual optimization of metrology systems. Additionally, there is a growing demand for part sourcing and outsourcing aimed at reducing overall production costs. This trend is fostering the growth of measurement services, which provide cost-effective solutions for precise measurement and inspection tasks, thereby improving operational efficiency and competitiveness within the market.

By End-user industry: The automotive industry is projected to register the highest CAGR during the forecast period.

The increasing demand for electric vehicles and the imperative for highly dependable and quality processes are additional factors propelling the growth of the industrial metrology market within the automotive industry. Automotive manufacturers are progressively embracing 3D solutions and optical inspection techniques, offering significant advantages to the sector. These technologies enable production teams to utilize 3D scanning solutions at various stages of the design process, encompassing product development, design refinement, reverse engineering, as well as quality control and assurance efforts.

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By Region: North America to hold a larger market share in 2023.

North America stands out as the swiftest expanding sector in the industrial metrology industry. The region’s dominance is fueled by the growing demand for automation and extensive utilization of industrial metrology across critical sectors like automotive, aerospace, defense, and manufacturing. Moreover, North America’s leadership position is reinforced by the presence of major market players such as FARO, KLA Corporation, and Baker Hughes Company.

The major players in the industrial metrology companies include Hexagon AB (Sweden), Nikon Corporation (Japan), FARO (US), Carl Zeiss AG (Germany), JENOPTIK (Germany), KLA Corporation (US), Renishaw plc (UK), Mitutoyo Corporation (Japan), KEYENCE CORPORATION (Japan), CREAFORM (Canada).

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Complete Genomics Highlights Innovation with Expanded Multi-Omics and Spatial Transcriptomics Applications at ASHG 2024

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DENVER, Nov. 4, 2024 /PRNewswire/ — At the American Society of Human Genetics (ASHG) Annual Meeting (Nov. 5-9, 2024), Complete Genomics, a pioneering genomic sequencing company, will highlight an expanded application menu and broader market adoption of its flagship sequencer DNBSEQ-T7 ™ and a series of product launches and new innovations.

Over the last year, Complete Genomics’ flagship sequencer, DNBSEQ-T7 has gained more adoption in the market for its flexibility, catering to the industry trend of sequencing more modalities (multi-omics from DNA/RNA to protein), at a lower cost and higher resolution (from bulk to single cell and spatial omics), through an expanded menu of applications to enable human genetics research using DNBSEQ CompleteWGS, spatial transcriptomics, proteomics, and single cell sequencing.

“Aligning with the industry’s demand to rapidly provide more data at a lower cost point, in 2024, our flagship high throughput sequencer, DNBSEQ-T7, gained good traction in the high throughput sequencing market,” said Rob Tarbox, VP of Product and Marketing at Complete Genomics.

At Booth #745, ASHG attendees can learn about whole genome sequencing (WGS) and spatial solutions, product highlights, new technology innovations, sequencing product demos, a menu of sequencing applications. To learn more and add the full program of speakers to your calendar, visit completegenomics.com/ASHG2024.

Complete Genomics will highlight the following product innovations:

DNBSEQ-G400RS FluoXpert: This new multifunctional sequencer merges high-throughput sequencing with multiplex immunofluorescence (mIF), enabling in vivo spatial protein detection and seamless multi-omics analysis for both DNA/RNA and protein data within one system.DNBSEQ-G800: A versatile benchtop sequencer designed for exceptional accuracy and extended read lengths enabling Q40 accuracy and single-end reads of 600 bp and beyond, it delivers the longest single read among short-read sequencers, powered by CoolMPS technology for improved variant calling for a range of demanding applications.DNBelab-D4 Digital Sample Preparation System: A portable, fully automated system for preparing libraries from DNA or RNA samples to DNA Nanoballs (DNBs) in about 2.5-3.5 hours. This enclosed system minimizes contamination and accelerates turnaround, making it ideal for metagenomics, targeted sequencing, whole genome sequencing and converting third-party libraries for DNBSEQ compatibility.DNBSEQ-G99 – Delivering Q40 data quality for a broad swath of sequencing applications, with two independent flow cells for up to 48 Gb in less than 12 hours for PE150 (from loading to FASTQ), or 96 Gb in 30 hours for PE300.Spatial transcriptomics – New agreement to be the exclusive distributor of STOmics products in the U.S. STOmics, which specializes in solutions for spatial multi-omics through an advanced spatiotemporal multi-omics platform, is differentiated with unbiased, high resolution, species agnostic, large field of view multi-omics solutions. Researchers interested in incorporating spatial transcriptomics into their research can apply to two targeted tracks of the Complete Genomics Spatial Xcellerator grant program.CompleteWGS – A comprehensive workflow solution that provides increased genomic coverage, improved sequencing of challenging genes, and haplotype phasing. The solution enables labs to routinely sequence genomes yielding high quality, comprehensive data in a cost-effective and scalable manner. The approach is powered by the proven accuracy of DNBSEQ sequencing technology.

Here are the highlighted expert talks that Complete Genomics will host at ASHG 2024:

CoLab: Wednesday, Nov. 6, 9:45 a.m. – 10:15 a.m., CoLab Theater 3

Speaker: Joe Yeong, MD, Ph.D., FRCPath (UK), Group Leader, IMCB, A*STAR, Division of Pathology, Singapore General Hospital

Topic: Unlocking True Spatial Multi-Omics (DNA-RNA-Protein) with GoSpatial, Stereo-seq, and FluoXpert: When 1 + 1 > 2

Industry Workshop: Thursday, Nov. 7, 12:00 – 1:00 p.m., Room 105, Denver Convention Center

Michael Snyder, Ph.D. – Director, Center for Genomics and Personalized Medicine, Stanford UniversityTopic: Cutting Edge Omics Discovery by DNBSEQ™ TechnologyGang Wu, Ph.D. – Director, Center for Applied Bioinformatics, St. Jude Children’s Research HospitalTopic: Using Linked-read Sequencing to Dissect Complex Rearrangements in Extrachromosomal DNASky Lee, Ph.D. – Associate Director, Genomics Shared Resource, University of Colorado AnschutzTopic: $350 Human WGS from Sample to Result with DNBSEQ-T7 Platform

Exploring Spatial Omics: Dinner & Workshop, Thursday, Nov. 7, 7:00 – 9:30 p.m., Capitol Five, Hyatt Regency

Speakers:

Yongfu Wang, Ph.D., Sr. Manager, Field & Sales Support for STOmics
Complete Genomics

Topic: Mapping the Future Omics: Stereo-seq for Single-cell Spatial Whole Transcriptome Profiling for Diverse Biological Applications

Hui Shen, Ph.D. Professor, Associate Director, Tulane Center for Biomedical Informatics and Genomics, Deming Department of Medicine, School of Medicine, Tulane University

Topic: Spatial Transcriptomic Analysis of Alzheimer’s Disease Using Stereo-seq

About Complete Genomics

Complete Genomics is a pioneering life sciences company that provides novel, end to end DNA sequencing solutions. It has been at the forefront of high throughput, cost-effective sequencing technology development since its inception in 2005. Our products have powered over 9,400 publications across a wide array of applications. To learn more, visit www.completegenomics.com.

* For Research Use Only. Not for use in diagnostic procedures.

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SOURCE Complete Genomics

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goeasy Ltd. Announces Closing of US$400 Million and C$150 Million Offering of Senior Unsecured Notes

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MISSISSAUGA, ON, Nov. 4, 2024 /CNW/ – goeasy Ltd. (TSX: GSY) (“goeasy” or the “Company”), one of Canada’s leading consumer lenders focused on delivering a full suite of financial services to Canadians with non-prime credit, is pleased to announce that it closed its previously announced offering of US$400 million aggregate principal amount of 6.875% senior unsecured notes due 2030 (the “USD Notes”), which was upsized from US$350 million at the initial time of offering, and C$150 million aggregate principal amount of 6.000% senior unsecured notes due 2030 (the “CAD Notes”, and together with the USD Notes, the “Notes”).

In connection with the offering of the USD Notes, goeasy also entered into a currency swap agreement (the “Currency Swap”) to reduce the Canadian dollar equivalent cost of borrowing of the USD Notes to 5.977% per annum. goeasy intends to use the net proceeds from the sale of the Notes to fund the previously announced, and now expired, cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 4.375% senior unsecured notes due 2026 (the “2026 Notes”), partially repay indebtedness under its secured facilities and for general corporate purposes. This press release shall not constitute an offer to purchase any of the 2026 Notes.

“We are pleased to announce the closing of our unsecured notes offering, including our inaugural Canadian dollar denominated issuance, highlighting the confidence in our business,” said Hal Khouri, goeasy’s Executive Vice President & Chief Financial Officer, “The Canadian dollar equivalent cost of borrowing of the USD Notes at 5.977% per annum is down from 6.38% per annum at our last notes offering in July. This financing increases our total funding capacity to C$1.8 billion to support our organic growth plans.”

About goeasy

goeasy Ltd. is a Canadian company, headquartered in Mississauga, Ontario, that provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by over 2,500 employees, the Company offers a wide variety of financial products and services including unsecured and secured instalment loans, merchant financing through a variety of verticals and lease-to-own merchandise. Customers can transact seamlessly through an omnichannel model that includes online and mobile platforms, over 400 locations across Canada, and point-of-sale financing offered in the retail, powersports, automotive, home improvement and healthcare verticals, through over 10,300 merchant partners across Canada. Throughout the Company’s history, it has acquired and organically served over 1.4 million Canadians and originated over C$14.3 billion in loans.

Accredited by the Better Business Bureau, goeasy is the proud recipient of several awards in recognition of its exceptional culture and continued business growth including 2024 Best Workplaces™ in Financial Services & Insurance, Waterstone Canada’s Most Admired Corporate Cultures, ranking on the 2022 Report on Business Women Lead Here executive gender diversity benchmark, placing on the Report on Business ranking of Canada’s Top Growing Companies, ranking on the TSX30, Greater Toronto Top Employers Award and has been certified as a Great Place to Work®. The Company is represented by a diverse group of team members from over 70 nationalities who believe strongly in giving back to communities in which it operates. To date, goeasy has raised and donated over C$5.8 million to support its long-standing partnerships with BGC Canada and many other local charities. In 2023, the Company announced a 3-year, C$1.4 million commitment to BGC Canada’s Food Fund.

goeasy Ltd.’s. common shares are listed on the TSX under the trading symbol “GSY”. 

Forward-Looking Statements

This press release includes forward-looking statements about goeasy, including, but not limited to, its business operations, strategy and expected financial performance and condition. Forward-looking statements include, but are not limited to, statements with respect to the expectations regarding the use of net proceeds of the Notes offering, the effect of the Currency Swap and the repurchase of the 2026 Notes pursuant to the Tender Offer. In certain cases, forward-looking statements that are predictive in nature, depend upon or refer to future events or conditions, and/or can be identified by the use of words such as “expect”, “continue”, “anticipate”, “intend”, “aim”, “plan”, “believe”, “budget”, “estimate”, “forecast”, “foresee”, “target” or negative versions thereof and similar expressions, and/or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations and business prospects and are inherently subject to, among other things, risks, uncertainties and assumptions about the Company’s operations, economic factors and the industry generally. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those expressed or implied by forward-looking statements made by the Company. Some important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to, goeasy’s ability to enter into new lease and/or financing agreements, collect on existing lease and/or financing agreements, open new locations on favourable terms, offer products which appeal to customers at a competitive rate, respond to changes in legislation, react to uncertainties related to regulatory action, raise capital under favourable terms, compete, manage the impact of litigation (including shareholder litigation), control costs at all levels of the organization and maintain and enhance the system of internal controls.

The Company cautions that the foregoing list is not exhaustive. These and other factors could cause actual results to differ materially from our expectations expressed in the forward-looking statements, and further details and descriptions of these and other factors are disclosed in the Company’s Management’s Discussion and Analysis, including under the section entitled “Risk Factors”. The reader is cautioned to consider these, and other factors carefully and not to place undue reliance on forward-looking statements, which may not be appropriate for other purposes. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise, unless required by law.

SOURCE goeasy Ltd.

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dotCMS Hosts dotConnect24 Virtual Event, Connecting Digital Content & Experience Experts

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dotCMS, a leading Universal CMS solution, is hosting dotConnect24, a free virtual event on November 12 & 13, designed for marketing, development, and IT professionals. Attendees will explore the latest in multi-tenant content management, AI-driven workflows, and other cutting-edge digital experience topics to build a future-proof content strategy for 2025.

MIAMI, Nov. 4, 2024 /PRNewswire-PRWeb/ — dotCMS, the leading Universal CMS, will host dotConnect24, a virtual event happening November 12 & 13. This event invites marketing, development, and IT professionals to explore advanced CMS solutions and network with industry experts.

“dotConnect24 will give attendees the tools and knowledge to transform their digital strategies in meaningful ways.” – Inna Bosenko, VP of Marketing, dotCMS

dotConnect24 will feature presentations and panels from key dotCMS leaders, including Preston So, VP of Product, Freddy Montes, Technical Product Manager & Lead Frontend Developer, and Will Ezell, Co-Founder and CTO. They’ll be joined by thought leaders from Total Expert, Refine Labs, World Travel Holdings, GitBook, DEPT, Botify, and many others, presenting insights on modern digital content strategies, CMS advancements, brand development and consistency, multi-tenancy, and AI-driven content workflows.

“This event unites industry visionaries, innovators, and practitioners to dive deep into transformative solutions that empower technical and editorial teams to streamline content management and elevate digital experiences across every channel,” said Inna Bosenko, VP of Marketing at dotCMS. “dotConnect24 will give attendees the tools and knowledge to transform their digital strategies in meaningful ways.”

The event will also showcase an on-demand session from dotCMS’s Universal CMS Summit held earlier this year, and all registered attendees will receive access to this content for further learning and implementation.

Media Contact

Inna Bosenko, dotCMS, +1-305-900-2001, marketing@dotcms.com, dotCMS.com

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SOURCE dotCMS

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