DUBLIN, April 4, 2018 /PRNewswire/ --
The "Digital Inspection Market by Technology, Offering, Dimension, Vertical, and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The digital inspection market is expected to grow from USD 19.66 Billion in 2018 to USD 27.84 Billion by 2023, at a CAGR of 7.2% between 2018 and 2023.
Some of the key factors driving the growth of this market are the growing adoption of industrial automation and technological advantages over traditional methods.
The digital inspection market has been segmented on the basis of offering into hardware, software, and services. Hardware accounted for the largest share of the digital inspection market in 2017. The advent new technologies have led to the development of compact and cost-effective hardware for digital inspection systems. The market for software is expected to grow at the highest CAGR during the forecast period, because of the increasing adoption of industrial automation. Industry 4.0 is being adopted with an objective to improve productivity by maximizing asset utilization, minimizing downtime, and improving labor efficiency, with digital inspection playing an important role.
The digital inspection market has been segmented on the basis of dimension into 2D and 3D. 3D accounted for a larger share of the market in 2017 and is expected to grow at a higher CAGR during the forecast period. 3D helps overcome the limitations of 2D techniques and offers added advantages to manufacturers to inspect beyond 2 planes of a product and volumetric height, allowing for 100% inspection and detection of defects in a product.
The digital inspection market has been segmented on the basis of technology into machine vision, metrology, and NDT. Metrology accounted for the largest share of the market in 2017. The demand for metrology is driven by the rising need for accurate inspection of 3D data used for modeling and analysis of 3D models, growing focus on quality control, inability of traditional measurement devices to address several manufacturing issues, and growing automation and in-line metrology. The market for NDT is expected to grow at the highest CAGR between 2018 and 2023. The growth of this market can be attributed to the continuous advancements in electronics, and automation and robotics, and the increasing adoption of IoT solutions.
The manufacturing accounted for the largest share of the digital inspection market in 2017. This vertical is witnessing a new wave of technological revolution, which is boosting the adoption of automation in manufacturing plants. Industrial 4.0 helps enhance productivity through quality control by detecting defects and in predictive maintenance of factory machinery. The digital inspection market for the food and pharmaceuticals vertical is expected to grow at the highest CAGR during the forecast period. The growth of this market can be attributed to the imposition of strict rules and regulations by food & beverages authorities, keeping in mind the health and safety of people.
The Americas held the largest share of the digital inspection market in 2017, owing to the presence of major players operating in verticals such as automotive, aerospace & defense, public infrastructure, and energy and power in the US. This region is emerging as an important hub for the manufacturing and power generation verticals. The market in APAC is expected to grow at the highest CAGR between 2018 and 2023 owing to the increasing population, accelerating economies (developed as well as developing), and government initiatives to promote industrial growth have made APAC an ideal destination for production units for various verticals, including semiconductor, electronics, and automotive.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Study Scope
1.4 Currency
1.5 Limitations
1.6 Market Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Market Ranking Estimation
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Digital Inspection Market
4.2 Digital Inspection Market, By Technology
4.3 Digital Inspection Market in APAC, By Vertical and Country
4.4 Digital Inspection Market, By Region
4.5 Country-Wise Analysis of the Digital Inspection Market
4.6 Digital Inspection Market, By Dimension
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advantages Over Traditional Methods
5.2.1.2 Increasing Adoption of Industrial Automation
5.2.1.3 Growing Consumer Awareness Raising the Bar of Safety and Quality Standards
5.2.2 Restraints
5.2.2.1 High System and Deployment Costs
5.2.3 Opportunities
5.2.3.1 Miniaturization of Products Offered By End-User Industries
5.2.3.2 Availability of Customized Solutions
5.2.3.3 Rapid Industrialization in Developing Economies
5.2.4 Challenges
5.2.4.1 Lack of Skilled Workforce
5.3 Value Chain Analysis
6 Digital Inspection Market, By Technology
6.1 Introduction
6.2 Machine Vision
6.3 Metrology
6.4 Ndt
6.4.1 Visual Inspection
6.4.2 Ultrasonic
6.4.3 Eddy Current
6.4.4 Radiography
7 Digital Inspection Market, By Offering
7.1 Introduction
7.2 Hardware
7.3 Software
7.4 Services
8 Digital Inspection Market, By Dimension
8.1 Introduction
8.2 2D
8.3 3D
9 Digital Inspection Market, By Vertical
9.1 Introduction
9.2 Manufacturing
9.3 Electronics and Semiconductor
9.4 Oil & Gas
9.5 Aerospace & Defense
9.6 Automotive
9.7 Energy and Power
9.8 Public Infrastructure
9.9 Food and Pharmaceuticals
9.10 Others
9.10.1 Rubber, Plastics, and Polymers
9.10.2 Glass
9.10.3 Printing
9.10.4 Wood, Paper, and Pulp
10 Geographic Analysis
11 Competitive Landscape
11.1 Overview
11.2 Market Ranking Analysis
11.3 Competitive Scenario
12 Company Profiles
12.1 Introduction
12.2 Key Players
12.2.1 General Electric
12.2.2 Mistras Group
12.2.3 Olympus
12.2.4 Hexagon
12.2.5 Cognex
12.2.6 Nikon
12.2.7 Zetec
12.2.8 Faro Technologies
12.2.9 Basler
12.2.10 Omron
12.3 Other Key Players
12.3.1 Carl Zeiss
12.3.2 Mitutoyo
12.3.3 Gom
12.3.4 National Instruments
12.3.5 Keyence
12.4 Key Innovators
12.4.1 Ipromar
12.4.2 Fprimec Solutions
12.4.3 Shining 3D Tech
12.4.4 Zebicon
12.4.5 Sualab
For more information about this report visit https://www.researchandmarkets.com/research/8kq88w/27_84_bn_digital?w=5
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