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Surface Vision And Inspection Global Market Report 2023
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, March 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Surface Vision And Inspection Global Market Report 2023" - https://www.reportlinker.com/p06426333/?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 grew from $2.47 billion in 2022 to $2.75 billion in 2023 at a compound annual growth rate (CAGR) of 11.3%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The surface vision and inspection market is expected to grow to $4.09 billion in 2027 at a CAGR of 10.4%.
The surface vision and inspection market consist of revenues earned by entities by providing surface vision and inspection services such as installation and configuration, maintenance of spare parts, preventative maintenance, training, and upgrade of systems.The market value includes the value of related goods sold by the service provider or included within the service offering.
The surface vision and inspection market also include sales of lighting system, optical systems, sensors, vision processing systems, and communications system.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Surface vision and inspection refers to a non-destructive method of inspecting topographical details and locating suspected defects on an article’s surface. It is used for the real-time detection of surface flaws or features using angled lighting and smart cameras
Asia-Pacific was the largest region in the surface vision and inspection market in 2022.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.
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.
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 USD 10.93 billion in 2019 to USD 21.18 billion by 2025. India has the potential to become a global manufacturing hub and by 2030, it can add more than USD 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 February 2020, Atlas Copco, a Sweden-based company operating in industrial tools and equipment acquired ISRA Vision for a deal of $ 1.9 billion. This acquisition aims to strengthen its position in the digital manufacturing segment by integrating its technologies. ISRA Vision AG is a Germany-based company operating in inspection systems.
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 market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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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