Press release
Global Digital Inspection Market By 2025: With ZEISS Group, FARO Technologies, Basler AG, Hexagon AB, IMP Group, GE, OMRON Group, Zetec, Cognex Corporation, National Instruments, Olympus Corporation of the Americas, Mitutoyo America Corporation, KEYENCE C
Global Digital Inspection Market
The Digital Inspection Market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025. The Global 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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Forecasting Regional and Global Analysis on Digital Inspection Market By Offering (Hardware, Software, Services), By Technology (Machine Vision, NDT, Metrology), By Dimension (2D, 3D), By End User (Electronics & Semiconductor, Automotive, Aerospace & Defense, Manufacturing, Oil & Gas, Energy, Food & Pharmaceuticals) and By Geography. 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
· Applied Technical Services
· Olympus Corporation
Others: Zetec, Inc., Mitutoyo America Corporation, Cognex Corporation, KEYENCE CORPORATION, OMRON Corporation, Gom, Shining 3D Tech, iPromar and Fprimec Solutions among others.
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.
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 instance Olympus 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.
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· The global digital inspection market is segmented based on
o Offering
o Technology
o Dimension
o End-user and geographical segments
· Based on offering, the global digital inspection market is segmented into
o Hardware
o Software
o Services
· On the basis of technology, the global digital inspection market is segmented into
o Machine vision
o 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
o 2 Dimensions
o 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.
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
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