Global Digital Inspection Market Report 2022: Market to Reach $28.9 Billion by 2025 - Hardware Segment Leads, Software to Propel Future Growth

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Aug 02, 2022, 16:30 ET

DUBLIN, Aug. 2, 2022 /PRNewswire/ -- The "Digital Inspection - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Digital Inspection Market to Reach $28.9 Billion by 2025

The global market for Digital Inspection is projected to reach US$28.9 Billion by 2025, registering a compounded annual growth rate (CAGR) of 6.9% over the analysis period.

United States represents the largest regional market for Digital Inspection, accounting for an estimated 26.5% share of the global total. The market is projected to reach US$8.1 Billion by the close of the analysis period. United States is forecast to emerge as the fastest growing regional market with a CAGR of 7.9% over the analysis period.

The market for digital inspection is gaining from continuing industrial automation coupled with technological progress over conventional inspection methods. Market growth is also supported by the increasing demand for inspection, storage and recording of test results, and ongoing shift from paper-based inspection methods to digital platforms. The need for accurate inspection of complex 3D products and strong focus on the quality control aspect is benefitting metrology, which in turn boosts market prospects.

The technology is witnessing increasing adoption for inspection of electrical and electronic assemblies as well as electrical components such as solenoids and fuses. While manufacturing remains the primary user of the technology, the global market also receives strong contribution from other industries including healthcare, fire response, government, military, transportation, mechanics, security services and engineering.

Though high initial cost of digital inspection platforms is a major restraint, numerous benefits offered by the technology ensure return over investment over the long-term. The demand for digital inspection in North America is fueled by presence of leading digital inspection solution providers catering to the need of a comprehensive range of industries, from automotive and aerospace & defense to power and public infrastructure in the US.

The European market for digital inspection is anticipated to be propelled by emergence of the region as a hub for automotive, manufacturing, and energy & power industries. The increasing adoption of automation across industries is bound to create robust demand for digital inspection solutions in Asia-Pacific region.

The market for 3D Digital Inspections is forecast to growth fastest over the analysis period. Growth in the 3D segment is being is attributable to its numerous benefits over 2D techniques. The 3D method helps manufacturers in overcoming limitations associated with traditional 2D approaches and inspecting beyond two planes of products and volumetric height, ensuring full inspection along with detection of every defect. The segment is bound to benefit from rising focus on product quality.

In addition, the ability of 3D digital inspection to allow diagnosis of issues including foreign materials, metal bridging and construction defects in high-speed settings and 3D planes is anticipated to help the technology in registering gains on the expense of 2D methods.

What`s New for 2022?

Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the digital archives
Complimentary updates for one year

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
Impact of Covid-19 and a Looming Global Recession
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
Manufacturing PMI: An Important Bellwether
Digital Inspection - Global Key Competitors Percentage Market Share in 2022 (E)
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
Digital Inspection Gains Strong Foothold in the Manufacturing Industry
Growing Adoption of Industrial Automation Solutions Spurs Need for Digital Inspection
With Manufacturing Moving towards Industry 4.0, Digital Inspections Become Integral to Production Processes
Shift towards Industry 4.0 Drives Opportunities in Digital Inspections Market
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
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
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
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
Aging Aircraft Widen Addressable Market for NDT Technology
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