SAN FRANCISCO, March 28, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Digital Inspection – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
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Editing: 7; Published: February 2022
Executive Pool: 1246
Companies: 137 – Players covered include Baker Hughes, a GE company; Basel AG; Carl Zeiss AG; Cognex Corporation; FARO Technologies, Inc.; FPrimeC Solutions, Inc.; Hexagon AB; MISTRAS Group, Inc.; Mitutoyo Company; National Instruments Corporation; Nikon Metrology SA; Olympus Company; Omron Corporation; 3D SHINY; Zebicon c/o; Zetec, Inc. and others.
Blanket: All major geographies and key segments
segments: Component (Hardware, Software, Services); Technology (Metrology, Industrial Vision, CND); End use (manufacturing, aerospace and defense, oil and gas, automotive, food and pharmaceutical, electronics, energy, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia Pacific; Rest of the world.
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Global digital inspection market to reach $28.9 billion by 2025
Digital inspection is used in a wide range of industries to inspect items, products or even facilities. The technology’s ability to guarantee high functionality, speed and accuracy makes it an essential option for improving productivity and quality in the manufacturing industry. The ability of digital inspection to accelerate turnaround times, streamline report generation, reduce costs, and overcome limitations associated with traditional paper-based approaches is expected to further expand its reach. Amid COVID-19 crisis, the Global Digital Inspection Market is expected to reach US$28.9 billion by 2025, registering a compound annual growth rate (CAGR) of 6.9% over the analysis period. United States represents the largest regional market for digital inspection, accounting for an estimated 26.5% share of the global total. The market should reach US$8.1 billion at the end of the analysis period. United States is expected to become the fastest growing regional market with a CAGR of 7.9% over the analysis period.
The digital inspection market is benefiting from continuous industrial automation coupled with technological advancements over conventional inspection methods. The growth of the market is also supported by the increasing demand for inspection, storage and recording of test results, and the continuous shift from paper-based inspection methods to digital platforms. The need for accurate inspection of complex 3D products and the emphasis on the quality control aspect is benefiting metrology, which in turn is driving market prospects. The technology is seeing increasing adoption for the inspection of electrical and electronic assemblies as well as electrical components such as solenoids and fuses. While manufacturing remains the major user of the technology, the global market also receives strong contribution from other industries including healthcare, firefighting, government, military, transportation, mechanical, security services and engineering. Although the high initial cost of digital inspection platforms is a major constraint, many advantages offered by the technology guarantee a long-term return on investment. The demand for digital inspection in North America is powered by the presence of leading providers of digital inspection solutions serving the needs of a full range of industries, from automotive and aerospace and defense to electrical and public infrastructure in the United States. United. The European digital inspection market is expected to be propelled by the region’s emergence as a hub for the automotive, manufacturing, energy and electrical industries. The increasing adoption of automation in industries can only create a strong demand for digital inspection solutions in Asia Pacific Region.
The 3D digital inspection market is expected to witness the fastest growth over the analysis period. The growth of the 3D segment is attributed to its many advantages over 2D techniques. The 3D method helps manufacturers overcome the limitations associated with traditional 2D approaches and inspect beyond two planes of products and volumetric height, ensuring complete inspection as well as detection of every defect. The segment should benefit from the growing focus on product quality. Additionally, the ability of 3D digital inspection to enable the diagnosis of issues such as foreign materials, metal bridges, and construction defects in high-speed settings and 3D plans is expected to help the technology register gains in detriment of 2D methods. Continued
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SOURCE Global Industry Analysts, Inc.