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Surface Inspection Market Growing at the Fastest Rate in APAC Region

03-02-2022 09:17 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

According to a research report "Surface Inspection Market with COVID-19 Impact Analysis, By Component, Surface Type (2D and 3D), System (Computer-based and Camera-based), Deployment Type (Traditional Systems and Robotic Cells), Vertical, and Geography - Global Forecast to 2026" published by MarketsandMarkets, the surface inspection market is projected to grow from USD 3.5 billion in 2021 to USD 5.3 billion by 2026; it is expected to grow at a CAGR of 8.6% during the forecast period. The Increase in demand of electrical and electronic devices is providing growth for surface inspections. Moreover, the increase in adoption of smart cameras, enhanced software, and powerful image processors owing to their benefits and features; increase in demand of electrical and electronic devices; and initiatives by governments and public-private companies to mitigate COVID-19 impact across the globe plays a key role in driving the growth of the surface inspection market.

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High-performance and innovative inspection systems are required to fulfill quality standards in the electrical and electronics industries. The electrical and electronics industry requires inspection systems for the detection of defects in circuit boards, wafer inspection, optical line-width measurement, magnetic disk drive head inspection, and inspection of printed and flexible electronics (displays). Owing to COVID-19, the surface inspection market faced headwinds for 2019-2020. It is rather expected to start witnessing recovery in 2021-2022.

Surface inspection market for automotive vertical expected to grow at highest CAGR during forecast period

The automotive sector increasingly relies on highly effective surface inspection systems to prevent defects at various stages of production. Surface inspection systems capture various material and production-induced defects. Surface vision is used for inspecting defects in complex parts such as cylinder bores, crankcases, and cylinder heads, on flat components such as cylinder head gaskets, and also on printed electronics. The automotive industry requires inspection of various large objects such as door panels through multiple cameras. Multiple camera solutions are more cost-efficient with computer-based systems. The automotive industry is seeing good growth in emerging countries due to various factors like increasing wages and decreasing unemployment due to industrialization. There is fierce competition in the market, with countries other than the US, Japan, and Germany manufacturing cars at lower prices. Quality has become an important parameter in the automotive vertical, making surface inspection more important. With government funding for clean electric vehicles in developed countries, the saturated markets in these regions are revitalizing. Hence, the surface inspection market for automotive vertical is expected to grow at a fastest rate during the forecast period.

Market for software expected to grow at highest rate during the forecast period

Software is the main component of the surface inspection system and contributes significantly to the cost of the system. Software drives the image acquisition, processing, and analysis functions. If the application is high-speed, requiring excellent image quality and generating a lot of image data, software with good processing power and memory capabilities is required. HALCON and MERLIC are the two standard software products for machine vision designed by MVTEC Software (Germany). Integro Technologies (US) is a software integrator that creates and integrates software solutions to help manufacturers improve their machine vision inspection processes. Integro Technologies deep learning suites improve machine vision inspection capabilities. AI.SEE is a service provided by elunic (Germany) that uses AI-driven image recognition to provide automated quality assurance. An automated visual inspection technology based on AI and deep learning is capable of defecting different types of objects and is easy to set up by integrators, manufacturers, and end users as well for the automation of inspection processes. Deep learning, an advanced technology based on AIs higher intelligence, allows for the rapid identification of defective parts and products that must be removed from the assembly. Images captured by smart cameras/cameras are used to teach the software every detail, just like humans. It offers an algorithm to the deep learning suite, and, as the name implies, it learns from the details that are fed to it. With advancements in technologies, an increase in complexity of products, and an increase in robot-based surface inspection systems, the need for 3D surface inspection systems is increasing; therefore, the market for software is expected to grow at a highest CAGR during the forecast period.

Surface inspection market in APAC to witness highest CAGR during forecast period

APAC is expected to dominated the surface inspection market, during 2021-2026. in terms of value. In terms of volume also, APAC is expected to dominated the market throughout the forecast period. The surface inspection market in APAC is further expected to grow at the highest CAGR during the forecast period and dominate the market throughout the forecast period both in terms of value and volume. APAC is considered a major manufacturing hub in the world and expected to provide ample growth opportunities to the surface inspection market in this region. The surface inspection market in APAC has witnessed higher growth in the past 10 years than the maturing markets in Europe and the Americas due to low production costs, easy availability of economical labor, lenient emission & safety norms, and government initiatives for Foreign Direct Investments (FDIs). OEMs and suppliers of surface inspection systems have set up production and sales facilities in this region to cater to local as well as other markets. The aging population in China and Japan has resulted in rising labor costs, leading to the growing adoption of automation. The growing population is also attracting companies to invest in APAC. Major companies have a base in APAC, including KEYENCE (Japan), OMRON (Japan), Panasonic (Japan), Sony (Japan), Sipotek (China), ADLINK (Taiwan), Alpha Techsys (India), SensoVision Systems (India), Kevision Systems (India), and MORITEX (Japan).

The key players in the surface inspection market include KEYENCE (Japan), Cognex (US), ISRA VISION (Germany), OMRON (Japan), Teledyne Technologies (US), Matrox Electronic Systems (Canada), Basler (Germany), VITRONIC (Germany), Teledyne FLIR (US), Datalogic (Italy), Kitov (Isarel), Dark Field Technologies (US), IMS Messsysteme (Germany), Panasonic (Japan), AMETEK (US), National Instruments (US), Sick (Germany), Baumer (Switzerland), MORITEX (Japan), Sony (Japan), Allied Vision Technologies (Germany), Industrial Vision Systems (UK), PIXARGUS (Germany), In-Core Systèmes (France), and Sipotek (China).

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ADLINK (Taiwan), Perceptron (US), STEMMER IMAGING (Germany), Radiant Vision Systems (US), Flyability (Switzerland), 4D Technology (US), Bluewrist (Canada), elunic (Germany), Integro Technologies (US), Intego (Germany), INB Vision (Germany), Nanonets (US), Alpha Techsys (India), SensoVision Systems (India), and Kevision Systems (India) are few startup and SMEs companies that cater the surface inspection market.

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Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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