NEW YORK, April 2, 2020 /PRNewswire/ -- Digital Inspection market worldwide is projected to grow by US$10.8 Billion, driven by a compounded growth of 6.9%. Hardware, one of the segments analyzed and sized in this study, displays the potential to grow at over 5.9%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$12.9 Billion by the year 2025, Hardware will bring in healthy gains adding significant momentum to global growth.
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- Representing the developed world, the United States will maintain a 7.9% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over  US$574.7 Million to the region’s size and clout in the next 5 to 6 years.  Over US$503.6 Million worth of projected demand in the region will come from Rest of Europe markets. In Japan, Hardware will reach a market size of US$1.1 Billion by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 6.6% over the next couple of years and add approximately US$1.9 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
- Competitors identified in this market include, among others,
- Basler AG
- Carl Zeiss AG
- Cognex Corporation
- FARO Technologies, Inc.
- FPrimeC Solutions Inc.
- General Electric Company
- GOM GmbH
- Hexagon AB
- iPromar Pte Ltd.
- Keyence Corporation
- Mistras Group, Inc.
- Mitutoyo Corporation
- National Instruments Corporation
- Nikon Corporation
- Olympus Corporation
- Omron Corporation
- SHINING 3D Co., Ltd.
- SUALAB
- Zebicon a/s
- Zetec Inc.
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DIGITAL INSPECTION MCP11
MARKET ANALYSIS, TRENDS, AND FORECASTS, MARCH 2
CONTENTS
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
An Introduction to Digital Inspection
Evolution of Inspection Methods
Worldwide Digital Inspection Market: Prospects and Outlook
Metrology Dominates Digital Inspection Market
Hardware Segment Leads, Software to Propel Future Growth
3D Digital Inspections Set for Strong Growth
Developed Regions Hold a Significant Share of Global Market
Global Economic Scenario Influences Market Dynamics
Exhibit 1: Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021
Manufacturing PMI: An Important Bellwether
Exhibit 2: Global Manufacturing Purchasing Managers' Index (PMI) for the Years 2012 through 2019
Competition
Exhibit 3: Digital Inspection Competitor Market Share Scenario Worldwide (in %): 2019
Vendors Focus on Product Innovations to Reinforce Market Positions
Recent Market Activity
2. FOCUS ON SELECT PLAYERS
Basler AG (Germany)
Baker Hughes, a GE Company (USA)
Carl Zeiss AG (Germany)
Carl-Zeiss Industrial Metrology LLC (USA)
Cognex Corporation (USA)
FARO Technologies, Inc. (USA)
FPrimeC Solutions, Inc. (Canada)
Hexagon AB (Sweden)
MISTRAS Group, Inc. (USA)
Mitutoyo Corporation (Japan)
National Instruments Corporation (USA)
Nikon Metrology NV (Belgium)
Olympus Corporation (Japan)
Omron Corporation (Japan)
SHINING 3D (China)
Zebicon a/s (Denmark)
Zetec, Inc. (USA)
3. MARKET TRENDS & DRIVERS
Inherent Benefits of Digital Inspection Technologies over Traditional Inspection Techniques Drives Market Growth
Digital Platforms Find Increasing Adoption to Streamline Facility Inspections
Robust Opportunity for Precision Parts Manufacturing Pushes Up the Importance of Digital Inspection Technologies
Exhibit 4: Global Parts & Components Market (in US$ Billion) for the Years 2020, 2022 and 2024
Digital Inspection Gains Strong Foothold in the Manufacturing Industry
Exhibit 5: Top 10 Countries in Terms of Manufacturing Output: 2018
Growing Adoption of Industrial Automation Solutions Spurs Need for Digital Inspection
Exhibit 6: Industrial Control & Factory Automation Market Size in US$ Billion for 2019, 2022 and 2025
With Manufacturing Moving towards Industry 4.0, Digital Inspections Become Integral to Production Processes
Exhibit 7: Shift towards Industry 4.0 Drives Opportunities in Digital Inspections Market: Global Industry 4.0 Revenues in US$ Billion for 2019, 2021, 2023 and 2025
Ongoing Digitization of Oil & Gas Industry Gives Impetus to Digital Inspection Market
Use of Drones in Oil & Gas Inspections Continues to Grow
Rapidly Expanding Natural Gas Production & Intensified Shale Gas Programs Spur Demand for Digital Inspections in Oil & Gas Sector
Exhibit 8: Worldwide E&P Capital Spending in $ Billion by Region and Type of Company for the Period 2017-2019
Robust Activity in the Renewable Energy Sector Spurs Market Opportunities in 3D Metrology Space
Automation and Focus on Improving Productivity and Quality Drive Demand for Digital Inspections in Automotive Industry
Exhibit 9: Global Passenger Car Production (In Million Units) for the Years 2010, 2016, 2020, and 2024
Exhibit 10: Global Passenger Car Sales (In Million Units) for the Years 2010-2024
High Growth Opportunities for Digital Inspection in Automotive Repair
Digital Inspection Emerges as a Handy Tool for Electronics Industry
Accurate 3D Metrology in Semiconductor and Electronics Industries Necessitates Enhanced Cameras
Food & Beverages: A Niche End-Use Sector
Exhibit 11: Global Packaged Food Sales in US$ Trillion: 2014-2024
Growing Importance of QC in Food & Beverage Industry
Sophisticated Inspection Equipment for Inspecting Packaging of Food Products and Beverages
Inspections Solutions Gain Traction in Detecting Imperfections in Aerospace Materials
Aerospace Industry Makes Use of Non-Contact Metrology
Progressive Growth in the Commercial Aviation Sector Creates Fertile Environment
Exhibit 12: Global Commercial Aircraft Fleet Size (in Units) by Aircraft Type for the Years 2018 and 2038
Exhibit 13: Global Commercial Aircraft Fleet Size (in Units) by Geographic Region for the Years 2018 & 2038
Aging Aircraft Widen Addressable Market for NDT Technology
Exhibit 14: Global Average Aircraft Fleet Age (In Years) by Geographic Region/Country for Cumulative Period 2018-2023 and 2023-2028
Metrology: A Key Technology for Digital Inspections
Increasing Demand for Portable Metrology Solutions Drives the Metrology Software Market
Digital Inspection Technologies Seek to Widen Scope & Span in Machine Vision Ecosystem
Established Role of NDT in Condition Monitoring Bodes Well for the Market
Visual Inspection Testing Exhibits High Growth
Eddy Current Testing Holds Immense Potential
Ultrasonic NDT Testing Remains a Prominent Technique
Radiographic Testing Accelerates Market Expansion
Innovative Digital Technologies to Impact Inspection Industry
AI Paves the Way for Digital Solutions in Industrial Inspection
Innovative Technologies to Significantly Reduce Inspection Costs in Oil & Gas Sector
4. GLOBAL MARKET PERSPECTIVE
Table 1: Digital Inspection Global Market Estimates and Forecasts in US$ Million by Region/Country: 2018-2025
Table 2: Digital Inspection Market Share Shift across Key Geographies Worldwide: 2019 VS 2025
Table 3: Hardware (Component) World Market by Region/Country in US$ Million: 2018 to 2025
Table 4: Hardware (Component) Market Share Breakdown of Worldwide Sales by Region/Country: 2019 VS 2025
Table 5: Software (Component) Potential Growth Markets Worldwide in US$ Million: 2018 to 2025
Table 6: Software (Component) Market Sales Breakdown by Region/Country in Percentage: 2019 VS 2025
Table 7: Services (Component) Geographic Market Spread Worldwide in US$ Million: 2018 to 2025
Table 8: Services (Component) Market Share Distribution in Percentage by Region/Country: 2019 VS 2025
Table 9: Metrology (Technology) World Market Estimates and Forecasts by Region/Country in US$ Million: 2018 to 2025
Table 10: Metrology (Technology) Market Share Breakdown by Region/Country: 2019 VS 2025
Table 11: Machine Vision (Technology) World Market by Region/Country in US$ Million: 2018 to 2025
Table 12: Machine Vision (Technology) Market Share Distribution in Percentage by Region/Country: 2019 VS 2025
Table 13: NDT (Technology) World Market Estimates and Forecasts in US$ Million by Region/Country: 2018 to 2025
Table 14: NDT (Technology) Market Percentage Share Distribution by Region/Country: 2019 VS 2025
Table 15: Manufacturing (End-Use) Global Opportunity Assessment in US$ Million by Region/Country: 2018-2025
Table 16: Manufacturing (End-Use) Percentage Share Breakdown of Global Sales by Region/Country: 2019 VS 2025
Table 17: Aerospace & Defense (End-Use) Worldwide Sales in US$ Million by Region/Country: 2018-2025
Table 18: Aerospace & Defense (End-Use) Market Share Shift across Key Geographies: 2019 VS 2025
Table 19: Oil & Gas (End-Use) Global Market Estimates & Forecasts in US$ Million by Region/Country: 2018-2025
Table 20: Oil & Gas (End-Use) Market Share Breakdown by Region/Country: 2019 VS 2025
Table 21: Automotive (End-Use) Demand Potential Worldwide in US$ Million by Region/Country: 2018-2025
Table 22: Automotive (End-Use) Share Breakdown Review by Region/Country: 2019 VS 2025
Table 23: Food & Pharmaceuticals (End-Use) Worldwide Latent Demand Forecasts in US$ Million by Region/Country: 2018-2025
Table 24: Food & Pharmaceuticals (End-Use) Distribution of Global Sales by Region/Country: 2019 VS 2025
Table 25: Electronics (End-Use) Sales Estimates and Forecasts in US$ Million by Region/Country for the Years 2018 through 2025
Table 26: Electronics (End-Use) Global Market Share Distribution by Region/Country for 2019 and 2025
Table 27: Power (End-Use) Global Opportunity Assessment in US$ Million by Region/Country: 2018-2025
Table 28: Power (End-Use) Percentage Share Breakdown of Global Sales by Region/Country: 2019 VS 2025
Table 29: Other End-Uses (End-Use) Worldwide Sales in US$ Million by Region/Country: 2018-2025
Table 30: Other End-Uses (End-Use) Market Share Shift across Key Geographies: 2019 VS 2025
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Table 31: United States Digital Inspection Market Estimates and Projections in US$ Million by Component: 2018 to 2025
Table 32: United States Digital Inspection Market Share Breakdown by Component: 2019 VS 2025
Table 33: Digital Inspection Market in US$ Million in the United States by Technology: 2018-2025
Table 34: United States Digital Inspection Market Share Breakdown by Technology: 2019 VS 2025
Table 35: United States Digital Inspection Latent Demand Forecasts in US$ Million by End-Use: 2018 to 2025
Table 36: Digital Inspection Market Share Breakdown in the United States by End-Use: 2019 VS 2025
CANADA
Table 37: Canadian Digital Inspection Market Estimates and Forecasts in US$ Million by Component: 2018 to 2025
Table 38: Digital Inspection Market in Canada: Percentage Share Breakdown of Sales by Component for 2019 and 2025
Table 39: Digital Inspection Market Analysis in Canada in US$ Million by Technology: 2018-2025
Table 40: Canadian Digital Inspection Market Share Breakdown by Technology: 2019 VS 2025
Table 41: Canadian Digital Inspection Market Quantitative Demand Analysis in US$ Million by End-Use: 2018 to 2025
Table 42: Canadian Digital Inspection Market Share Analysis by End-Use: 2019 VS 2025
JAPAN
Table 43: Japanese Market for Digital Inspection: Annual Sales Estimates and Projections in US$ Million by Component for the Period 2018-2025
Table 44: Japanese Digital Inspection Market Share Analysis by Component: 2019 VS 2025
Table 45: Japanese Medium & Long-Term Outlook for Digital Inspection Market in US$ Million by Technology: 2018-2025
Table 46: Japanese Digital Inspection Market Percentage Share Distribution by Technology: 2019 VS 2025
Table 47: Japanese Demand Estimates and Forecasts for Digital Inspection in US$ Million by End-Use: 2018 to 2025
Table 48: Digital Inspection Market Share Shift in Japan by End-Use: 2019 VS 2025
CHINA
Table 49: Chinese Digital Inspection Market Growth Prospects in US$ Million by Component for the Period 2018-2025
Table 50: Chinese Digital Inspection Market by Component: Percentage Breakdown of Sales for 2019 and 2025
Table 51: Digital Inspection Market Estimates and Forecasts in China in US$ Million by Technology: 2018-2025
Table 52: Digital Inspection Market in China: Percentage Share Analysis by Technology for 2019 and 2025
Table 53: Chinese Demand for Digital Inspection in US$ Million by End-Use: 2018 to 2025
Table 54: Chinese Digital Inspection Market Share Breakdown by End-Use: 2019 VS 2025
EUROPE
Table 55: European Digital Inspection Market Demand Scenario in US$ Million by Region/Country: 2018-2025
Table 56: European Digital Inspection Market Share Shift by Region/Country: 2019 VS 2025
Table 57: European Digital Inspection Market Estimates and Forecasts in US$ Million by Component: 2018-2025
Table 58: European Digital Inspection Market Share Breakdown by Component: 2019 VS 2025
Table 59: European Digital Inspection Market Assessment in US$ Million by Technology: 2018-2025
Table 60: Digital Inspection Market in Europe: Percentage Breakdown of Sales by Technology for 2019 and 2025
Table 61: European Digital Inspection Addressable Market Opportunity in US$ Million by End-Use: 2018-2025
Table 62: European Digital Inspection Market Share Analysis by End-Use: 2019 VS 2025
FRANCE
Table 63: Digital Inspection Market in France by Component: Estimates and Projections in US$ Million for the Period 2018-2025
Table 64: French Digital Inspection Market Share Analysis by Component: 2019 VS 2025
Table 65: French Digital Inspection Market Estimates and Projections in US$ Million by Technology: 2018-2025
Table 66: French Digital Inspection Market Share Breakdown by Technology: 2019 VS 2025
Table 67: Digital Inspection Quantitative Demand Analysis in France in US$ Million by End-Use: 2018-2025
Table 68: French Digital Inspection Market Share Analysis: A 7-Year Perspective by End-Use for 2019 and 2025
GERMANY
Table 69: Digital Inspection Market in Germany: Recent Past, Current and Future Analysis in US$ Million by Component for the Period 2018-2025
Table 70: German Digital Inspection Market Share Breakdown by Component: 2019 VS 2025
Table 71: German Digital Inspection Latent Demand Forecasts in US$ Million by Technology: 2018-2025
Table 72: German Digital Inspection Market Share Breakdown by Technology: 2019 VS 2025
Table 73: Digital Inspection Market in Germany: Annual Sales Estimates and Forecasts in US$ Million by End-Use for the Period 2018-2025
Table 74: Digital Inspection Market Share Distribution in Germany by End-Use: 2019 VS 2025
ITALY
Table 75: Italian Digital Inspection Market Growth Prospects in US$ Million by Component for the Period 2018-2025
Table 76: Italian Digital Inspection Market by Component: Percentage Breakdown of Sales for 2019 and 2025
Table 77: Digital Inspection Market Estimates and Forecasts in Italy in US$ Million by Technology: 2018-2025
Table 78: Digital Inspection Market in Italy: Percentage Share Analysis by Technology for 2019 and 2025
Table 79: Italian Demand for Digital Inspection in US$ Million by End-Use: 2018 to 2025
Table 80: Italian Digital Inspection Market Share Breakdown by End-Use: 2019 VS 2025
UNITED KINGDOM
Table 81: United Kingdom Market for Digital Inspection: Annual Sales Estimates and Projections in US$ Million by Component for the Period 2018-2025
Table 82: United Kingdom Digital Inspection Market Share Analysis by Component: 2019 VS 2025
Table 83: United Kingdom Medium & Long-Term Outlook for Digital Inspection Market in US$ Million by Technology: 2018-2025
Table 84: United Kingdom Digital Inspection Market Percentage Share Distribution by Technology: 2019 VS 2025
Table 85: United Kingdom Demand Estimates and Forecasts for Digital Inspection in US$ Million by End-Use: 2018 to 2025
Table 86: Digital Inspection Market Share Shift in the United Kingdom by End-Use: 2019 VS 2025
REST OF EUROPE
Table 87: Rest of Europe Digital Inspection Market Estimates and Forecasts in US$ Million by Component: 2018-2025
Table 88: Rest of Europe Digital Inspection Market Share Breakdown by Component: 2019 VS 2025
Table 89: Rest of Europe Digital Inspection Market Assessment in US$ Million by Technology: 2018-2025
Table 90: Digital Inspection Market in Rest of Europe: Percentage Breakdown of Sales by Technology for 2019 and 2025
Table 91: Rest of Europe Digital Inspection Addressable Market Opportunity in US$ Million by End-Use: 2018-2025
Table 92: Rest of Europe Digital Inspection Market Share Analysis by End-Use: 2019 VS 2025
ASIA-PACIFIC
Table 93: Digital Inspection Market in Asia-Pacific by Component: Estimates and Projections in US$ Million for the Period 2018-2025
Table 94: Asia-Pacific Digital Inspection Market Share Analysis by Component: 2019 VS 2025
Table 95: Asia-Pacific Digital Inspection Market Estimates and Projections in US$ Million by Technology: 2018-2025
Table 96: Asia-Pacific Digital Inspection Market Share Breakdown by Technology: 2019 VS 2025
Table 97: Digital Inspection Quantitative Demand Analysis in Asia-Pacific in US$ Million by End-Use: 2018-2025
Table 98: Asia-Pacific Digital Inspection Market Share Analysis: A 7-Year Perspective by End-Use for 2019 and 2025
REST OF WORLD
Table 99: Rest of World Digital Inspection Market Estimates and Forecasts in US$ Million by Component: 2018 to 2025
Table 100: Digital Inspection Market in Rest of World: Percentage Share Breakdown of Sales by Component for 2019 and 2025
Table 101: Digital Inspection Market Analysis in Rest of World in US$ Million by Technology: 2018-2025
Table 102: Rest of World Digital Inspection Market Share Breakdown by Technology: 2019 VS 2025
Table 103: Rest of World Digital Inspection Market Quantitative Demand Analysis in US$ Million by End-Use: 2018 to 2025
Table 104: Rest of World Digital Inspection Market Share Analysis by End-Use: 2019 VS 2025
IV. COMPETITION
Total Companies Profiled : 117 (including Divisions/Subsidiaries - 137)
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