Press release
Digital Inspection Market Fabricated USD 17.10 Billion Over Last Year And Expanding CAGR of 7.2% By 2024 With Top Players Like FARO, General Electric, Hexagon, Nikon, Mistras and More
Digital Inspection Market
The Global Digital Inspection Market accounted for USD 17.10 billion in 2017 and is projected to grow at a CAGR of 7.2% during the forecast period of 2018 to 2025.
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Market Definition: Global Digital Inspection Market
This technology is majorly used in sectors comprising automotive, manufacturing, electronics and semiconductor, aerospace and defense, food and pharmaceuticals and others. Expansion in technology over traditional methods is one of the factors which are fueling the market lucratively. For instanceOlympus Corporation launched MX63 and MX63L industrial microscopes for inspection of semiconductors and flat panel displays (FPDs) in July 2017. This helps in effective defects detection which was earlier difficult to find using past observation techniques. Another example which helps in driving the digital inspection market is increasing adoption of industrial automation rapidly. In 2016, globally, shipments of industrial robots were about 294,000 units, which came up from159, 000 in 2012, as stated by Statista. This is significantly driving the market demand over the past few years.
Major Market Drivers and Restraints:
Rising adoption of industrial automation
Growing awareness with respect to safety and quality standards
Adaption of modern technology over traditional methods
Rapid industrialization in emerging economies
High system and deployment costs
Market Segmentation: Global Digital Inspection Market
The global digital inspection market is segmented based on offering, technology, dimension, end-user and geographical segments.
Based on offering, the global digital inspection market is segmented into hardware, software and services.
On the basis of technology, the global digital inspection market is segmented into machine vision, NDT and metrology. NDT are sub segmented into visual inspection, radiography, ultrasonic and eddy current.
On the basis of dimension, the global digital inspection market is segmented into 2 dimensions and 3 dimensions.
On the basis of end-user, the global digital inspection market is segmented into electronics and semiconductor, automotive, aerospace and defense, manufacturing, public infrastructure, oil and gas, energy, food and pharmaceuticals and others. Other segment consists of glass, rubber, plastics, and polymers, printing, wood, paper, and pulp.
Based on geography, the global digital inspection market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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Competitive Landscape: Global Digital Inspection Market
The global digital inspection market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Digital Inspection Market
Top players operating in the global digital inspection market consist of FARO Technologies, Inc., GENERAL ELECTRIC, HEXAGON, Nikon, MISTRAS Group, Inc., Carl Zeiss, Basler AG, National Instruments, Olympus Corporation, Zetec, Inc.,Mitutoyo America Corporation, Cognex Corporation, KEYENCE CORPORATION, OMRON Corporation, Gom, Shining 3D Tech, iPromar and Fprimec Solutions among others.
Research Methodology: Global Digital Inspection Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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