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Digital Imaging Market Soaring at 8.81% CAGR to Hit 24.08 Billion by 2023: Top Players GE, Olympus, Hexagon, Cognex, Nikon, OMRO, Ametek and More

09-19-2018 09:16 AM CET | Health & Medicine

Press release from: WOM-Reports

Digital Imaging Market Soaring at 8.81% CAGR to Hit 24.08 Billion

The digital imaging market is expected to reach USD 24.08 billion by 2023 from USD 15.79 billion in 2018, at a CAGR of 8.81% during the forecast period. Factors driving the growth of the digital imaging market include technological advantage over traditional methods, growing need of industrial automation, and increasing consumer awareness raising the bar of safety and quality standards. The deployment cost of digital imaging systems is currently beyond limits for some of the industry minor’s due to their high costs, which act as major restrain for this market.

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Inspection is expected to hold the largest share of the digital imaging market based on application by 2023. The factors such as increasing demand for quality products, growing manufacturing capacity, and shortage of skilled labor significantly drive the market for the quality assurance and inspection application in manufacturing industries.

Owing to the recent advancements in technologies and increased process automation, the automotive industry is focusing on high-value propositions, along with cost reductions. Digital imaging in the automotive industry is required in process development phases, production processes, and qualification processes. The digital imaging market for the automotive industry is expected to grow at the highest CAGR during the forecast period.

APAC is expected to be the largest market for digital imaging during the forecast period. Advancements in terms of economic growth, infrastructural developments, and construction of power plants are expected to boost the growth of the digital imaging market in APAC in the coming years.

Read More about this report: https://watchersofmarkets.com/products/digital-imaging-market-by-technology-machine-vision-metrology-radiography-and-lidar-application-inspection-reverse-engineering-and-surveying-industry-automotive-aerospace-oil-gas-and-geography-global-forecast-to-2023

Breakdown of profile of primary participants:

By Company Type: Tier 1 = 50%, Tier 2 = 30%, and Tier 3 = 20%

By Designation: C-level Executives = 65% and Managers = 35%,

By Region: North America = 40%, Europe = 25%, APAC = 30%, and RoW = 5%

GE (US), Olympus (Japan), Hexagon (Sweden), Cognex (US), Nikon (Japan), OMRON (Japan), Ametek (US), Matrox (Canada), Teledyne Technologies (US), National Instruments (US), and Keyence (Japan) are a few key players in the digital imaging market.

Related Report:

Dental Digital X-ray Market by Product (Digital Analog) Type (Intraoral Extraoral (CBCT Panoramic) Hybrid X-ray) Application (Diagnostic Therapeutics Forensic) End User (Dental Clinics Forensic Laboratories) - Global Forecast to 2020

Key The dental digital X-ray market is projected to reach USD 3,290.6 million by 2020 from USD 2,154.0 million in 2015, at a CAGR of 8.8%. Major factors contributing to the growth of this market include technological advancements, rapidly growing geriatric population, ability of digital systems to reduce diagnosis time and provide improved image quality, growing adoption of cone-beam computed tomography (CBCT), increase in dental disorders, and the growing demand for cosmetic dentistry. However, factors such as high cost of dental digital X-rays and lack of reimbursement for dental care are limiting the growth of this market during the forecast period.

Read More: https://watchersofmarkets.com/products/dental-digital-x-ray-market-by-product-digital-analog-type-intraoral-extraoral-cbct-panoramic-hybrid-x-ray-application-diagnostic-therapeutics-forensic-end-user-dental-clinics-forensic-laboratories-global-forecast-to-2020

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