Market Research Future (MRFR), in its latest published research report, asserts that the global digital inspection market is booming and expected to grow considerable over the review period, reaching a substantial market valuation of USD 26 billion by 2023, expanding with 9% CAGR during the forecast period 2018–2023.
The notable market players operational in the global digital inspection market as identified by MRFR are General Electric (U.S.), MISTRAS Group (U.S.), Olympus (Japan), Hexagon (Sweden), Cognex (US), Nikon (Japan), Zetec (US), Basler (Germany), FARO Technologies (U.S.), OMRON (Japan), Mitutoyo (Japan), Carl Zeiss (Germany), GOM (Germany), National Instruments (US), Keyence (Japan).
Other key players include iPromar (Singapore), Shinning 3D Tech (China), FPrimeC Solutions (Canada), Zebicon (Denmark), and SUALAB (South Korea).
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Drivers and Restraints
The digital inspection market is poised to obverse rapid growth during the forecast period due to the growing demand for storing and recording the test results in industries such as Oil & Gas, Automotive, Food & Beverages, Aviation, and Electrical & electronics equipment sector. The demand for accurate inspection of 3D data and a notable focus on quality control gives rise to the deployment of Metrology, which is a critical factor that fuels the growth of the digital inspection market. Digital inspection of electrical components like solenoids, fuses, electrical & electronic assemblies is also a factor driving the growth of digital inspection market globally. The need for digital inspection of electrical constituents like fuses, solenoids are expected to considerably expand the growth of the market in the forecast period. The digital inspection market is poised to grow at a rapid rate due to the companies focusing on increasing automation in organizations to increase flexibility, reduce costs, and eradicate human error. Moreover, the increasing use of digital inspection in the real estate sector due to the growing number of properties is expected to offer substantial opportunities for growth in the coming years.
The development of a stable value chain is moreover encouraging the expansion of the market. The augmented conformity of major market players to new clients and market trend dispositions are advancing the growth trajectory of the market and will continue in the forecast period.
- Original Equipment Manufacturers
- Raw material suppliers
- System Integrators
- Government bodies
- Technology Software and solutions providers.
- Technology Service providers
- Research Institutes and Organizations
- Component manufacturers
- Electronics and semiconductor manufacturers.
- Automotive manufacturers
Based on the technology, the Digital Inspection market is divided into machine vision, metrology, Non-Destructive Testing (NDT).
Based on the solution, the Digital Inspection market is segmented into hardware and software. Hardware-based digital inspection equipment includes Video Borescope, USB Digital Microscope, and digital multi-meters. While, the software-based digital inspection system include Action Card, Qwerks, HomeInspect, and Horizon Inspection software.
Based on the dimension, the Digital Inspection market is bifurcated into 2D and 3D.
Based on the application, the Digital Inspection market is segmented into electronics and semiconductor, manufacturing, oil & gas, aerospace and defense, automotive, food & beverages, energy and power, public infrastructure, and others.
The geographical analysis of the global market has been conducted in specifically four major regions, including Europe, the Asia Pacific, North America, and the rest of the world (covering Latin America, the Middle East and Africa). Among these, the market is led by North America due to significant players existing in verticals such as aerospace & defense, automotive, public infrastructure and energy and power in the U.S.
The growth of automation in all industry verticals is generating massive demand for digital inspection systems in the Asia Pacific region. Countries like China, Japan and, India are focused on capitalizing in automation to improve their business income and be a part of the digital transformation wave. The European region is observed as an emerging hub for the manufacturing, automotive, and energy & power industries with a considerable focus on the adoption of digital inspection solutions.
Browse Complete Report “Digital Inspection Market Research Report – Forecast to 2023” @ https://www.marketresearchfuture.com/reports/digital-inspection-market-6141
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