The digital imaging deals with developing digital images like graphics, photographs etc. with the help of the image machine or manuscripts or digital camera. Digital imaging system consists of image recognition, image display, image manipulation, image storage etc. Since all the operations in digital imaging are done in digital form, it is gaining popularity in the government sector, healthcare, and other business agencies. Automotive industry is presently the key contributor to this industry. The global digital imaging market was USD 14.39 billion in 2018 and is estimated to reach USD 24.60 billion by 2025 at the CAGR of 7.96% during the forecast period.
The developments in digital imaging have given way to the unparalleled growth of the market. The upsurge in demand for the making of digital images that can represent a physical scene or the internal structure of an object accurately is enhancing the growth rates of the market for digital imaging. The move in the use of film as the main medium for photomicrography has led to increased development of the market. The advances in automated cameras and computer technology have managed to make digital imaging inexpensive and simpler to use than typical photography.
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The integration of robust technological measures such as AI and big data among others is further adding to the growth momentum of the digital imaging market globally. As per recent research, Artificial intelligence (AI) is being leveraged to generate innovative prospects to adjust outcomes for breast cancer patients through treatments that can be modified on the basis of patient response, as well as targeted therapies founded on pathomic and radiomic analysis. AI will be decisive for classifying candidate biomarkers from digital imaging and fostering strong and dependable predictive models. These models will be expended to specify oncologic treatment strategies and classify confounding variables that are connected to the multifaceted biology of tumors and a variety of patient-related factors.
Growth by Region
North America is having the highest market share of the global digital imaging market followed by Europe. Asia Pacific will be the fastest growing market due to rise in the number of chronic diseases, development of new health care benefits and government projects. The governments are boosting the modernization of healthcare and energy generating projects like nuclear power, the wing energy etc.
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Drivers and Constraints
Though there is a growth in the Digital Imaging industry, land-based gambling still dwarfs the Internet activity, which can be a constraint for this industry in the long run. In specific regions there has been minimal growth of this industry due to the strict government regulations, which become a huge constraint for players to work in the market, while on the other hand, a major driver for this industry is the opening up of new markets in countries like USA and Europe where certain states are allowing legal Digital Imaging. There is even a huge risk in entering into this industries especially in countries where it is illegal, and these risks restricts the entry of new players and the expansion of existing players in different geographies.
Since the Digital Imaging market allows players to use virtual money it has reduced the burden and risk of carrying cash as in the case of real gambling activities, and since this can be done in the comfort of ones home, many people are resorting to Digital Imaging, hence showing that there is an opportunity for this market in the future.
This market will keep increasing in the future as it has still not reached maturity stage and the governments are moving to regulate this practice, which gives more moving space to the players in this market to grow.
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