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Fault Detection and Classification Market Trends

  • Report ID: GMI6871
  • Published Date: Oct 2023
  • Report Format: PDF

Fault Detection and Classification Market Trends

In the fault detection & classification market, cloud-based solutions are a pivotal trend. The shift toward cloud-based solutions in the fault detection and classification (FDC) market was driven by the desire for greater flexibility and accessibility. Cloud-based FDC systems offer several advantages including scalability to accommodate varying data volumes, remote monitoring capabilities that allow real-time analysis from anywhere, and cost-effectiveness by reducing the need for extensive on-premises hardware infrastructure. Additionally, cloud-based FDC solutions facilitate easy data sharing and collaboration among teams, making it simpler for organizations to implement & maintain these systems while harnessing the benefits of advanced analytics and data insights for improved fault detection & process optimization.

Authors: Suraj Gujar , Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for fault detection and classification reached USD 4.3 billion in 2022 and is estimated to witness over 8.7% CAGR from 2023 to 2032 due to the increasing focus on quality control

The hardware component segment held over 50% of the fault detection and classification market share in 2022 and is expected to expand through 2032 owing to rising reliance on automation, precision manufacturing, and quality assurance

Asia Pacific held over 35% share of the fault detection and classification industry in 2022 due to the expanding manufacturing sector, driven by increasing rate of industrialization and automation

Cognex Corporation, KILI TECHNOLOGY, MobiDev, Amazon Web Services, Inc., Applied Materials, Inc., Microsoft, CIM Environmental Pty Ltd., Qualitas Technologies, einnoSys Technologies Inc., INFICON and OMRON Corporation are some of the major fault detection and classification firms

Fault Detection and Classification Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 18
  • Tables & Figures: 272
  • Countries covered: 21
  • Pages: 200
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