Digital Inspection Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3912
Digital Inspection Market size is estimated to grow at a significant CAGR from 2019 to 2025 due to increasing need for accurate inspection of 3D data used for modeling & analysis of 3D models. The inability of traditional measurement devices to address several manufacturing issues and the increasing focus on quality control are supporting digital inspection market growth. The growing demand for recording & storing test results across sectors, such as aerospace & defense, oil & gas, and automotive, to improve accuracy and operational efficiency and reduce inspection time is contributing to the market growth. Additionally, digital inspection enables substantial cost savings, rapid report generation, and quicker inspection turnaround time for enterprises.
The 3D segment is anticipated to grow at a significant CAGR over the forecast timeline. The growth is attributed to the rising demand for product quality. The 3D digital inspection helps manufacturers to diagnose manufacturing issues, such as foreign materials, metal bridging, and construction defects, in 3D planes and high-speed environments. The NDT segment is expected to witness the highest growth over the forecast timeline due to continuous advancements in automation, electronics, and robotics. Several enterprises are rapidly embracing IoT solutions to improve their operational efficiency, contributing to digital inspection market share.
The manufacturing sector held the largest digital inspection market value and is estimated to maintain its industry share over the forecast timeline due to the growing adoption of industry 4.0 in the manufacturing sector. The digital inspection in the manufacturing sector is anticipated to enhance the predictive maintenance of factory machinery and productivity through quality control by detecting defects.
North America held a significant digital inspection market share in 2018 and is estimated to dominate the industry share over the forecast timeline. The market growth is attributed to the presence of prominent digital inspection market players. Additionally, the region is developing as a key hub for sectors such as manufacturing and energy & power. The rapid adoption of Industry 4.0 almost across all sectors in the region will propel the demand for digital inspection, resulting in the proliferation of the market. The Asia Pacific digital inspection market is expected to grow significantly due to an exponential increase in population and accelerated economies in the region. Supportive government initiatives to promote industrial growth in the region is further fueling the market growth.
Digital inspection solution providers are focusing on strategic alliances with other market players to improve their offerings and expand their geographical presence. Prominent market players are investing heftily in research & development activities to develop innovative products and maintain their dominance in the digital inspection market. For instance, in February 2019, Cognex Corporation launched two high-performance 3D vision systems: DSMax32T laser displacement 3D system and 3D-A5000 area scan 3D system as well as a new method of 3D part location, PatMax 3D. These three new offerings will cater to diverse 3D vision needs for 3D inspection applications, offering a superior 3D inspection to manufacturers and factories.
Some of the other major players operating in digital inspection market are Basler AG, Cognex Corporation, FARO Technologies, Inc., Fprimec Solutions, General Electric Company, Hexagon AB, MISTRAS Group, Inc., Nikon Metrology NV (Nikon Corporation), Olympus Corporation, Omron Corporation, Shining 3D Tech, Sualab, Zebicon, Zetec Inc, and ZTE Corporation.
Digital Inspection Market, By Technology, 2014-2025 (USD Million)
- Machine Vision
- Visual Inspection
- Eddy Current
Digital Inspection Market, By Offering, 2014-2025 (USD Million)
Digital Inspection Market, By Dimension, 2014-2025 (USD Million)
Digital Inspection Market, By End-Use, 2014-2025 (USD Million)
- Aerospace & Defense
- Electronics & Semiconductor
- Energy & Power
- Food & Pharmaceuticals
- Oil & Gas
- Public Infrastructure
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Basler AG
- Cognex Corporation
- FARO Technologies, Inc.
- Fprimec Solutions
- General Electric Company
- Hexagon AB
- MISTRAS Group, Inc.
- Nikon Metrology NV (Nikon Corporation)
- Olympus Corporation
- Omron Corporation
- Shining 3D Tech
- Zetec Inc
- ZTE Corporation
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