Inspection Cameras Market: Outlook, Opportunity & Future Trends Upto Forecast Period
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The rising need for inspection in various inspection facilities for getting a comprehensive view of inner parts of various machinery is a key factor bolstering the uptake. In addition, constant developments in the machine vision market are expected to boost the market. Other end-use areas where inspection cameras find wide applications are pharmaceutical industry, packaging industry, semiconductor industry, and security and surveillance industries. The advent of 2-way and the 4-way articulating borescope systems is further anticipated to open up lucrative avenues for optical device manufacturers. Furthermore, rising demand for CCTV camera technology is likely bode well for the inspection camera market.
Inspection camera, or the borescope, is a type of instrument which functions like a camera, telescope, or microscope. It is used for the purpose of observing areas which are excessively cramped, very far away, or completely out of reach. An inspection camera has a black and white or color display; some of them are also detachable for the purpose of remote viewing - which is attached to a flexible shaft having a camera at the end of it. Often, this camera has several LED lights to illuminate the work area. Once the camera shaft is maneuvered into position, the display provides images captured by the camera. Expansion of the inspection cameras market depends on the expansion of the global machine vision market.
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For purpose of in depth analysis, the inspection cameras market has been segmented on the basis of spectrum, applications, and geography. In terms of spectrum type, the market can be segmented into ultraviolet spectrum, visible spectrum, and infrared spectrum. Various types of applications of inspection cameras include the automotive industry, pharmaceutical industry, semiconductor industry, packaging industry, security & surveillance industry, and others. Moreover, in terms of geography, the global inspection cameras market can be segmented into Europe, North America, Asia Pacific, Middle East &Africa, and Latin America.
Consistently rising demand for the boroscopy and videoscopy in the automotive industry is driving the market of inspection cameras. The articulating function of the inspection cameras in the industrial applications for the purpose of getting better views of the inner parts of the machines is also a key factor driving the Inspection Cameras market. Therefore, the rising need for 2-way and the 4-way articulating cables, which allow the camera head to move in different directions and gives an angle upto 360°, is also likely to propel the Inspection Cameras market during the forecasted period from 2017 to 2025. Additionally, rapid technological advancement in CCTV camera technology, which provides fast and precise camera solution with better cost effectiveness, is also anticipated to increase the demand for inspection cameras in the near future. This, in turn, this is also projected to boost the market of inspection cameras during the forecasted period.
Inspite of many driving factors, the inspection cameras market is expected to show a shrink and fluctuation in growth rate because of the in tolerating nature of the inspection cameras on product and component variation. Absence of good lighting conditions and lack of real intelligence of the inspection cameras are the restraining factors for the global Inspection Cameras market. Rising demand for inspection cameras for the purpose of surface vision is estimated to create significant opportunity for the inspection cameras in the near future. Increasing usage of inspection cameras in visual inspection is also anticipated to act as an opportunity for the inspection cameras market during the forecasted period.
In terms of application, the automotive industry held a prominent share of the market due to its rising usage in intelligent transportation systems. However, the security & surveillance segment is projected to expand significantly during the forecast period. Increasing usage of inspection cameras for the purpose of capturing high speed images and videos in the security &surveillance industry is expected to drive the market.
In terms of geography, the global inspection cameras market is mainly driven by Asia Pacific region. Increasing demand for machine vision systems and PC-based systems is driving the market in Asia Pacific. Increasing manufacturing facilities and expanding industrial hub are anticipated to fuel the rapid expansion of the inspection cameras market. Asia Pacific is projected to maintain its dominance in the market during the forecasted period due to the presence of manufacturing companies in the machine vision segment and increasing R&D in countries such as China, South Korea, and Japan.
Major players operating in the inspection cameras market include AMETEK (U.S.), Cognex Corporation (U.S.), FLIR Systems (U.S.), Olympus Corporation (Japan), Sick AG (Germany), Fluke Corporation (U.S.), Ifm electronic(Germany), and HIKVISION (China).
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