AUGUST 29, 2007--The world micrometrology-equipment market is expanding steadily, driven primarily by the growing miniaturization 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.
"Rapid technological advances, coupled with the continuous drive to miniaturize parts, are aiding market development," notes Frost & Sullivan research analyst Deepak Kannan. "The ability of micrometrology equipment to effectively meet the high accuracy and precision needs of end users in a timely manner is also reinforcing positive growth forecasts.
"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.
"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."
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