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Surface Vision And Inspection Global Market Report 2022: Ukraine-Russia War Impact
Major players in the surface vision and inspection market are Omron Corporation, AMETEK Inc. , Edmund Optics Inc. , ISRA VISION GmbH , Industrial Vision Systems, Keyence Corporation, Matrox Electronic Systems , Panasonic Holdings Corporation, Teledyne Digital Imaging Inc.
New York, Nov. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Surface Vision And Inspection Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06364846/?utm_source=GNW
, VITRONIC, Dark Field Technologies, JAI, Basler AG, NI, Allied Vision Technologies GmbH, and MORITEX Corporation.
The global surface vision and inspection market is expected to grow from $2.33 billion in 2021 to $2.47 billion in 2022 at a compound annual growth rate (CAGR) of 10.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The surface vision and inspection market is expected to grow to $3.70 billion in 2026 at a compound annual growth rate (CAGR) of 10.7%
The surface vision and inspection market consist of sales of surface vision and inspection products by entities (organizations, sole traders, and partnerships) that are used for the real-time detection of surface flaws or features using angled lighting and smart cameras. Surface vision and inspection refers to a non-destructive method of inspecting topographical details and locating suspected defects on an article’s surface.
The main types of surface vision and inspection are computer systems and camera systems.Computer systems refer to the complete setup of hardware and software that is required for implementing computing performance.
They have various components such as hardware and software. These are used in applications such as automotive, semiconductor, electronics and electrical, healthcare or pharmaceutical, food and beverages, logistics and postal sorting, metal, rubber and plastics, wood and paper, printing, and other applications.
Asia Pacific was the largest region in the surface vision and inspection market in 2021.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in the surface vision and inspection market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Rapid industrialization is expected to propel the growth of the surface vision and inspection market going forward.Industrialization refers to the process by which an economy is transformed from a primarily agricultural one to one based on the manufacturing of goods.
Surface vision and inspection help industrialization by autonomously confirming the visual and cosmetic quality of products. For instance, according to India Brand Equity Foundation, an Indian Government export promotion agency, the appliances and consumer electronics (ACE) market in India is expected to grow from US$ 10.93 billion in 2019 to US$ 21.18 billion by 2025. India has the potential to become a global manufacturing hub and by 2030, it can add more than US$ 500 billion annually to the global economy. Therefore, rapid industrialization is driving the growth of the surface vision and inspection market.
Technological advancements are a key trend in the surface vision and inspection market.Major companies operating in the surface vision and inspection market are coming up with new technologies to sustain their position in the surface vision and inspection market.
For instance, in January 2020, Omron Corporation, a Japan-based electronics company operating in the surface vision and inspection market, launched MicroHAWK V/F400 and V/F300 Series smart cameras to simplify applications by combining vision inspection and code reading into a single, highly compact device.The V/F400 and V/F300 Series reduce hardware costs and the amount of time needed for commissioning and maintenance by combining multiple capabilities into a single unit.
A high-resolution 5-megapixel color camera with liquid lens autofocus and other potent technologies ensures exceptional precision while encouraging greater flexibility in production line layouts. This new product also has cutting-edge autofocus technology that is perfect for inspecting products that vary in size, shape, or inspection type.
In October 2019, Cognex Corporation, a US-based manufacturer of machine vision systems, software, and sensors used in automated manufacturing acquired SUALAB for an undisclosed amount.Cognex’s existing deep learning capabilities, based on technology acquired from ViDi Systems in April 2017, are expected to be enhanced by the addition of SUALAB’s engineering team and intellectual property.
SUALAB is a Korea-based vision software developer for industrial applications operating in the surface vision and inspection market.
The countries covered in the surface vision and inspection market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The surface vision and inspection market research report is one of a series of new reports that provides surface vision and inspection market statistics, including surface vision and inspection industry global market size, regional shares, competitors with a surface vision and inspection market share, detailed surface vision and inspection market segments, market trends and opportunities, and any further data you may need to thrive in the surface vision and inspection industry. This surface vision and inspection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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