Defect Detection Market Set to Reach $5.2 Billion by 2028, Fueled by Technological Advancements

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Defect Detection Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $26.61 billion In 2028 At A CAGR Of 11.2%:

The defect detection market size has grown strongly in recent years. It will grow from $3.58 billion in 2023 to $3.88 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to quality assurance emphasis, cost of quality, regulatory standards, rise in complex manufacturing processes, demand for high-quality products, globalization of supply chains, increased competition.

The defect detection market size is expected to see strong growth in the next few years. It will grow to $5.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to focus on zero-defect manufacturing, integration with production processes, industry-specific solutions, data analytics for predictive maintenance, demand for real-time detection, customization and flexibility. Major trends in the forecast period include advancements in sensor technologies, automation and ai integration, quality control in manufacturing, increased use of computer vision, integration of deep learning, remote inspection and monitoring, collaboration with cloud services.

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Defect Detection Market Major Segments
The defect detection market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Application: Manufacturing, Packaging
3) By Vertical: Automotive, Electronics And Semiconductors, Metals And Machinery, Food And Packaging, Pharmaceuticals

Key Driver - Stringent Health And Safety Measures Imposed By Governments Driving The Growth Of The Defect Detection Market

Stringent health and safety measures imposed by governments are expected to propel the growth of the defect detection market going forward. Regulation refers to the imposition of rules by the government, accompanied by penalties specifically intended to change private sector economic behaviors. The government of Australia imposed some health and safety measures that increased the demand for defect detection. For instance, in January 2022, the US Supreme Court granted a stay on OSHA's (Occupational Safety and Health Administration) COVID-19 vaccine mandate for private employers with 100 or more employees. The court ruled that OSHA's mandate exceeds its statutory authority and is otherwise unlawful. Therefore, stringent health and safety measures imposed by governments are driving the growth of the defect detection market.

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Prominent Trend - Technological Advancements In The Defect Detection Market

Technological advancements are a key trend gaining popularity in the defect detection market. Major companies operating in the defect detection market are focused on developing new technological solutions to strengthen their position. For instance, in August 2021, Datalogic, an Italian company working in the automatic data capture and process automation markets, launched an MFDS solution for monitoring non-conveyable products in a non-singulated flow. The Mass Flow Detection System (MFDS) is an advanced solution that enables automated data collection for non-conveyable parcels. In the 'non-conveyable' parcel sector, large items have increased significantly, even more than traditional parcels, and are subject to manual treatment, creating a labor-intensive process.

Defect Detection Market Players
Major companies operating in the defect detection market report are Microsoft Corporation, Amazon.com Inc., Cognex Corporation, IBM Corporation, Omron Corporation, ABB India Ltd., Adlink Technology Inc., Allied Vision Technologies Private Limited, AMETEK Inc., Banner Engineering Corp., Basler AG, Dalsa Corp., Datalogic SpA, Hermary Opto Electronics Inc., Hangzhou Hikvision Digital Technology Co. Ltd., IDS Imaging Development Systems GmbH, Isra Vision AG, Key Technology Inc., Keyence Corporation, LMI Technologies Inc., Matrox Electronic Systems Ltd., Mercury Systems Inc., National Instruments Corp., Radiant Vision Systems LLC, Raptor Photonics Ltd., Sick AG, Sony Group Corp., Teledyne DALSA Corp., Vayyar Imaging Ltd., Vitronic Machine Vision Ltd., Zebra Medical Vision Inc.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the defect detection market in 2023. The regions covered in the defect detection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Defect Detection Market Report Structure
3. Defect Detection Market Trends And Strategies
4. Defect Detection Market - Macro Economic Scenario
5. Defect Detection Market Size And Growth
…..
27. Defect Detection Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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