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Advancements In Artificial Intelligence And Computer Vision Drive Automation In Equipment Inspection And Monitoring Industry Trends Gaining Momentum in the Global Equipment Inspection Software Market
Equipment Inspection Software
Equipment Inspection Software Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for equipment inspection software has seen significant expansion in recent years. Its value is anticipated to rise from $3.74 billion in 2024 to $4.71 billion in 2025, indicating a compound annual growth rate (CAGR) of 25.8%. The historic growth can be linked to factors such as a heightened focus on safety in the workplace, the increased adoption of digital instruments in asset management, a growing requirement for regulatory compliance, the broadening of manufacturing and industrial sectors, and escalated investment in maintenance automation.
Equipment Inspection Software Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are set high for a substantial increase in the equipment inspection software market, which is predicted to reach $11.67 billion by 2029, growing at a compound annual growth rate (CAGR) of 25.5%. Various factors, such as the escalating need for predictive maintenance solutions, increased usage of cloud-based inspection platforms, enhancing equipment lifecycle optimization, the growth in infrastructure and construction projects, and elevated understanding about cost-efficiency through digital inspections, contribute to this forecasted growth. Significant trends that are expected to shape the market landscape during the forecast period include progress in AI for inspection analytics, incorporation of IoT in inspection processes, speedy creation of mobile-centric inspection solutions, focused research and improvement in cloud infrastructure, and breakthroughs in automated flaw identification technologies.
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What Are the Drivers Transforming the Equipment Inspection Software Market?
The surge in the need for digital transformation is predicted to fuel the expansion of the equipment inspection software market. Digital transformation encompasses the adoption of digital technologies into every aspect of a business, thereby drastically enhancing its functionality, value delivery, and adaptability to shifting market requirements. This growing demand is attributed to businesses' desire to boost operational effectiveness, enrich customer journeys, and swiftly adapt to changing market demands through cutting-edge technology incorporation. For example, as per the European Commission, a governing body based in Belgium, in April 2025, 74% of all European Union businesses attained a fundamental degree of digital intensity in 2024. The percentage among larger corporations was 98%, and small to medium enterprises (SMEs) achieved 73%, indicating significant strides towards the EU's 2030 objective. Hence, the escalating demand for digital transformation is pushing the growth of the equipment inspection software market.
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What Long-Term Trends Will Define the Future of the Equipment Inspection Software Market?
Leading businesses in the field of equipment inspection software are increasingly focusing on integrating advancements in artificial intelligence and computer vision technologies, such as automated severity classification. This advancement amplifies precision and efficacy in pinpointing and prioritizing issues related to equipment. Automated severity classification leverages algorithms to autonomously evaluate and classify the seriousness of problems or flaws based on a pre-established scale. For example, in May 2024, GE Vernova Inc., renowned for its electrification, decarbonization, and energy solutions, unveiled its Autonomous Inspection - a cutting-edge cloud-based computer vision software. The software is designed to automate the inspection of industrial equipment using sophisticated artificial intelligence and machine learning. The package provides real-time image data gathering, distant monitoring, and automated scrutiny. These features empower a myriad of industries to amplify safety measures and minimize inspection durations. By boosting the reliability of assets and making maintenance procedures more efficient, the company is actively contributing to the quickened pace of digital transformation in operations and maintenance.
Which Segments in the Equipment Inspection Software Market Offer the Most Profit Potential?
The equipment inspection software market covered in this report is segmented -
1) By Component: Software, Services
2) By Inspection: Visual Inspection, Functional Inspection, Safety Inspection, Predictive Maintenance Inspection, Preventive Maintenance Inspection, Other Inspections
3) By Equipment: Industrial Machinery, Construction Equipment, Manufacturing Equipment, Vehicles And Fleet Equipment, Electrical Equipment, Other Equipment
4) By Deployment: Cloud-Based, On-Premises
5) By End-User: Inspectors And Inspecting Agencies, Equipment Owners And Operators, Regulatory Authorities
Subsegments:
1) By Software: Inspection Management Software, Asset Performance Management Software, Predictive Maintenance Software, Visual Inspection Software, Safety Compliance Software, Workflow Automation Tools, Reporting And Analytics Software
2) By Services: Implementation Services, Integration Services, Consulting Services, Training And Support Services, Maintenance And Upgrades, Managed Services, Customization Services
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Which Firms Dominate the Equipment Inspection Software Market by Market Share and Revenue in 2025?
Major companies operating in the equipment inspection software market are General Electric Company, International Business Machines Corporation (IBM), Honeywell International Inc., SAP SE, The Sage Group plc, PTC Inc., Eptura Inc., SafetyCulture Pty Ltd, e‐Emphasys Technologies Inc., MaintainX Inc., KPA Inc., AssetWorks LLC, Limble CMMS Inc., Tenna Inc., Asset Panda Inc., Inspect Point Inc., CHAMPS Software Inc., BlueFolder Inc., Certainty Software Inc., Core Inspection Technologies Inc., Driveroo Inc., Snapfix Ltd., Visualogyx Inc.
Which Regions Offer the Highest Growth Potential in the Equipment Inspection Software Market?
North America was the largest region in the equipment inspection software market in 2024. The regions covered in the equipment inspection software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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