UK Markets closed

The surface inspection market is expected to grow from USD 3.5 billion in 2021 and is projected to reach USD 5.3 billion by 2026; it is expected to grow at a CAGR of 8.6%

·7-min read

during the forecast period. Initiatives by governments and public-private companies to mitigate COVID-19 impact is expected to drive the surface inspection market and to promote new revenue opportunities for surface inspections manufacturers.

New York, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Surface Inspection Market with COVID-19 Impact Analysis, by Component, Surface Type, System, Deployment Type, Vertical And Geography - Global Forecast to 2026" - https://www.reportlinker.com/p03912469/?utm_source=GNW
The Advanced Robotics for Manufacturing (ARM) Institute is a public-private association that strives to improve the competitiveness of manufacturers in the US through collaborations and the development of innovative robotics solutions along with a vision s ystem for inspection of quality.
Furthermore, increase in adoption of smart cameras, enhanced software, and powerful image processors owing to their benefits and features such as high speed inspection, higher-resolution, and integration of AI and deep learning are also expected to raise the demand for surface inspection systems.The software are evolved and designed to handle diverse data sources (multi-camera setup, for example some surface inspection robots have up to eight cameras), and 3D images more efficiently.

However, scarcity of technically skilled workers interferes with the proper integration of surface inspection systems in various industries is a major hindrance for surface inspection market.

Market for robotic cells segment to grow at higher CAGR during forecast period
Robotic cells are expected to grow at a higher CAGR than traditional inspection systems during forecast period.Because of advantages such as higher flexibility, accuracy, ability to handle various product variants, ability to reach difficult areas, and ease of handling several inspection points, the market for robotic cells segment is expected to grow at a higher CAGR during the forecast period.

Further, the demand for collaborative robots (cobots) based inspection cell systems is expected to grow due to the ability of cobots to work safely alongside humans and better return on investment (RoI) than traditional industrial robots.

Camera-based surface inspection systems are expected to grow at a higher rate during the forecast period
The camera-based segment is expected to grow at a higher CAGR from 2021 to 2026.The lower cost, compact size, reliability, user-friendly software, and quick setup process are few key aspects that fuel the growth of this segment.

Technological developments in cameras open up new market opportunities with better performance.For example, the Shutter CMOS UV camera (MV4-D1280U-H01-GT) by ISRA VISON (Germany) is developed specifically for UV applications.

This camera features a susceptible CMOS sensor that operates in the deepest UV spectrum.In April 2020, Cognex (US) introduced In-Sigh D900, the first industrial smart camera powered by deep learning capabilities that provides an all-in-one solution for complex in-line inspection challenges.

Moreover, with higher resolution, smart cameras will be available, replacing multiple cameras with a single camera and making the camera-based more cost-effective. Camera-based systems are compact, cost-effective, and can handle the complexities of the postal & logistics industry. Therefore, camera-based systems will witness a higher CAGR than computer-based systems during the forecast period. In the future, brick-and-mortar retailers will also have automated infrastructure such as automated storage and retrieval services. This will further increase the demand for camera-based systems. During forecast period.

APAC: The fastest-growing region in the surface inspection market
The major drivers for the growth of the surface inspection market in the APAC region includes the growing demand for automation in automotive, and electrical & electronics, and medical & pharmaceuticals industries in countries such as China, Japan, South Korea, Taiwan, and India.The automotive industry requires multiple cameras to inspect various shapes and sizes in three-dimensional and two-dimensional planes.

The market in the region is also expected to be driven by the rising demand for electronic products around the world.The strong electronics industry is attracting surface inspection system manufacturers to Singapore and China.

Components such as computer chips, batteries, and displays are small and sensitive, and therefore, they need to be handled with high precision.Cameras are designed for high-speed data transfer in industrial imaging applications such as industrial automation, electronics manufacturing, semiconductor inspection, and PCB-AOI (automated optical inspection).

According to 2019 OEC data, the top exports of South Korea are integrated circuits (USD 104 billion). The presence of the largest producers of semiconductors companies such as Samsung (South Korea) and Taiwan Semiconductor Manufacturing Company (TSMC) is another factor driving the market in APAC. Thailand, being one of the largest producers of food products in Southeast Asia, is seeking to automate processes to enhance efficiency. According to the World Economic Forum (WEF), Singapore is the second most open economy in the world. Whwereas Thailand is set to become a global hub for plastics manufacturing; with a recent focus on automation. Hence, the demand for surface inspection systems in APAC is projected to grow at fastest rate during forecast period.

Breakdown of primaries
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the surface inspection market space. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%
• By Designation: C-level Executives – 40%, Directors – 40%, and Others – 20%
• By Region: Americas –35%, APAC– 35%, Europe – 20%, and RoW – 10%
The report profiles key players in the surface inspection market with their respective market ranking analysis. Prominent players profiled in this report are KEYENCE (Japan), Cognex (US), ISRA VISION (Germany), OMRON (Japan), Teledyne Technologies (US), Matrox Electronic Systems (Canada), Basler (Germany), VITRONIC (Germany), Teledyne FLIR (US), Datalogic (Italy), Kitov (Isarel), Dark Field Technologies (US), IMS Messsysteme (Germany), Panasonic (Japan), AMETEK (US), National Instruments (US), Sick (Germany), Baumer (Switzerland), MORITEX (Japan), Sony (Japan), Allied Vision Technologies (Germany), Industrial Vision Systems (UK), PIXARGUS (Germany), In-Core Systèmes (France), and Sipotek (China).

Research Coverage:
The report describes the detailed information regarding the major factors such as drivers, restraints, challenges, and opportunities influencing the growth of the surface inspection market.It also includes technology trends, trade data, patent analysis, and COVID-19 specific developments associated with the surface inspection market.

This research report categorizes the surface inspection market based on component, surface type, system, deployment type, vertical, and geography.COVID-19 developments for surface type, vertical, and region have also been provided.

A detailed analysis of the key industry players was carried out to provide insights into their business overviews; solutions and services offered; key strategies adopted that include new Product launches, deals (acquisitions, partnerships, collaborations, mergers), and others (expansions); and list of key partners/distributors and key customers/clients for the key players.

Key Benefits of Buying the Report

The report would help leaders/new entrants in this market in the following ways:
1. This report segments the surface inspection market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.
4. The analysis of the top 25 companies, based on market share/rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
5. Patent analysis, trade data, and technological trends that will shape the market in the coming years has also been covered in this report.
Read the full report: https://www.reportlinker.com/p03912469/?utm_source=GNW

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________

CONTACT: Clare: clare@reportlinker.com US: (339)-368-6001 Intl: +1 339-368-6001


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting