Digital Inspection Market – Overview
The rising usage of electronic equipment and growing implementation of automation is boosting the need for digital inspection. Market reports connected with the information and communication technology industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is expected to achieve earnings worth USD 26 billion by 2023 while progressing with a 9% CAGR in the forecast period.
The growing need to ensure the highest level of accuracy is favorably addressed by the adoption of digital inspection solutions. The need for digital inspection of electrical components like fuses, solenoids is expected to considerably increase the growth of the market in the forecast period. Moreover, the rising use of digital inspection in the real estate sector due to the increasing number of properties is expected to offer significant opportunities for growth in the coming years.
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The segmentation of the digital inspection market is carried out on the basis of technology, solution, dimension and application. Based on technology, the digital inspection market is segmented into metrology, machine vision and non-destructive testing (NDT). The solution basis of segmentation of the Digital Inspection market comprises of hardware and software. The software-based digital inspection systems comprise of Action Card, Qwerks, HomeInspect, and Horizon Inspection software. While, the hardware-based digital inspection equipment segment comprises of USB digital microscope, video borescope, and digital multi-meters. Based on dimensions, the digital inspection market is segmented into 3D and 2D. On the basis of application, the market for digital inspection is segmented into electronics and semiconductor, manufacturing, oil & gas, automotive, energy and power, aerospace and defense, food & beverages, public infrastructure, and others.
Detailed Regional Analysis
The regional analysis of digital inspection market covers regions such as Europe, Asia Pacific, North America, and the Rest of the World. The digital inspection market is anticipated to develop at a fast rate owing to the companies focusing on growing automation in businesses to raise flexibility, trim down costs, and remove human error. Among the various regions in the market, the North American region is leading region owing to the presence of key players present in verticals such as aerospace & defense, automotive, public infrastructure and energy and power in the U.S. The development of automation in nearly all industry verticals is generating enormous demand for digital inspection systems in the Asia Pacific region. Countries like Japan, China, and, India are focused on investing in automation to advance their business revenue and be a component of the digital transformation wave. The European region is observed as a rising hub for manufacturing, automotive, and energy & power industries with a considerable focus on the implementation of digital inspection solutions.
The prominent contenders in the Digital Inspection Market are MISTRAS Group (U.S.), Olympus (Japan), Hexagon (Sweden), Cognex (US), Nikon (Japan), Zetec (US), General Electric (U.S.), FARO Technologies (U.S.), Basler (Germany), OMRON (Japan), Mitutoyo (Japan), GOM (Germany), National Instruments (US), Carl Zeiss (Germany), Keyence (Japan), iPromar (Singapore), FPrimeC Solutions (Canada), Shinning 3D Tech (China), Zebicon (Denmark), and SUALAB (South Korea).
The development of a strong value chain is moreover motivating the expansion of the market. The augmented conformity of market players to new clients and market trend predispositions are advancing the growth curve of the market and will continue in the forecast period. The calculated goals envisioned for the market are buoyed due to useful product differentiation supported by market contestants. The current implementation of strategies is expected to motivate the market in the impending years. The expansion of the market is moving in a favorable direction due to original product introductions or escalating gross revenue of the players in the market. The vertical additions and product tactics of the market are enhancing the potential of the market companies. Substantial cutbacks in administrative budgets are bringing further development of the market.
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
LIST OF TABLES
Table1 Global Digital Inspection Market: By Country, 2018-2023
Table2 North America Digital Inspection Market: By Country, 2018-2023
Table3 Europe Digital Inspection Market: By Country, 2018-2023
Table4 Asia Pacific Digital Inspection Market: By Country, 2018-2023
Table5 The Middle East & Africa Digital Inspection Market: By Country, 2018-2023
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LIST OF FIGURES
FIGURE 1 Global Digital Inspection Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Digital Inspection Market
FIGURE 4 Value Chain Of Global Digital Inspection Market
FIGURE 5 Share Of Digital Inspection Market In 2018, By Country (In %)
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