The growth of the digital imaging market is driven by factors such as technological advantage over traditional methods, growing need of industrial automation, and increasing consumer awareness raising the bar of safety and quality standards.
Metrology to hold largest share of digital imaging market by 2018
Metrology is expected to hold the largest share of the digital imaging market by 2018. Metrology systems are widely used in the industries such as automotive, aerospace, energy & power, medical, and electronics to streamline their quality assurance processes and improve their manufacturing efficiency. Metrology is used in inspecting components, assembling, production planning, documenting large volume spaces, and surveying, among other applications.
Automotive to hold largest share of digital imaging market by 2018
The increasing adoption of industrial 4.0 would help enhance productivity through quality control by allowing the manufacturers to detect defects as well as enabling the predictive maintenance of factory machinery. Thus, the increasing adoption of industry 4.0 for making the processes more efficient through timely flaw detection is expected to drive the growth of the digital imaging market for the automotive industry. The automotive industry is expected to hold the largest share of the digital imaging market by 2018.
Digital imaging market in APAC to grow at highest CAGR during forecast period
The digital imaging market in APAC is expected to grow at the highest CAGR during the forecast period. Increasing population, rapidly growing economies (developed as well as developing), and government initiatives to promote industrial growth have made APAC an ideal destination for production units for various sectors including semiconductor, electronics, and automotive. Other major drivers for the growth of the market in APAC include the growing inclination toward energy generation projects based on alternative sources such as nuclear power, wind turbines, and hydroelectricity owing to the growing concerns regarding the depleting natural sources of energy.
GE (US), Olympus (Japan), Hexagon (Sweden), Cognex (US), Nikon (Japan), OMRON (Japan), Ametek (US), Matrox (Canada), Teledyne Technologies (US), National Instruments (US), and Keyence (Japan) are a few key players in the digital imaging market.
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The automotive industry is also a major contributor to the market, as it is focusing on high-value propositions, along with cost reductions. Digital imaging is required in process development phases, production processes, and qualification processes in the automotive industry. This industry is expected to hold the largest share of the market by 2018, and the market for this segment is projected to grow at the highest CAGR during 2018-2023. The widening adoption of industry 4.0 for making the processes more efficient through timely flaw detection is driving the growth of the digital imaging market for the automotive manufacturing industry.
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