The surface inspection market is expected to grow from USD 3. 7 billion in 2020 and is projected to reach USD 5. 3 billion by 2025; it is expected to grow at a CAGR of 7. 4% during the forecast period.
New York, Feb. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Surface Inspection Market by Component, Surface Type, System, Deployment Type, Vertical And Geography - Global Forecast to 2025" - https://www.reportlinker.com/p03912469/?utm_source=GNW
The main driver for this market is the growing demand for quality assurance and automation. This is because labor wages are increasing, and companies are reducing the cost through automation. Also, human error is reduced by automation and speed is increased. The main restraint for the surface inspection market is the dearth of technically skilled individuals creating the problem of proper integration of these systems in the various industries. The customer needs in this market keep changing, requiring workers to be trained to handle the new systems. Highly skilled individuals are a key requirement to handle surface inspection systems with high end and frequently changing features. The workers need to understand machine signals and work for hand in hand with collaborative robots, where surface inspection systems are mounted on robots.
Robotic cells are expected to grow at a higher CAGR than traditional surface inspection systems during the forecast period.
Robotic cells are expected to grow at a higher CAGR than traditional inspection systems during the forecast period.Robotic cells offer various advantages such as higher flexibility, accuracy, ease of handling several inspection points and ability to inspect difficult to reach inspection points.
The main advantage of robotic cells is the ability to handle various product variants. The robotic cell inspects the work item from 360-degrees like a human being, making inspection independent of the shape and size of the work item.
Camera systems are expected to grow at higher CAGR than computer systems.
A smart camera-based system has an integration of imager to capture images, intelligent processor to process and analyze the images, lighting, and cables for input & output capabilities.This integration makes camera systems more cost-effective and compact than computer systems.
Fewer moving components and rare high temperatures make the camera system more reliable and reduce maintenance costs by preventing downtime. Camera systems come with pre-packaged algorithms that are not required to be developed further, thereby providing quicker setup.
The market in the US held the largest share of the surface inspection market by 2020.
The United States is the premier market for industries due to an open investment policy, a large consumer market, a highly skilled workforce, availability of infrastructure, and local and state government incentives.The automotive and semiconductor industries are the largest beneficiaries of surface inspection systems.
According to SIA, the US semiconductor industry is the worldwide leader with a global market share of nearly 45%. According to the International Trade Administration, total foreign direct investment in the US automotive industry reached USD 114.6 billion in 2018, and the US has become the world’s second-largest market for vehicle sales and production. Healthcare is another prominent industry in the US. The country is also a hub for the IT industry, providing good support to surface inspection companies for the integration of artificial intelligence.
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 marketspace. The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 40%, Tier 2 – 40%, and Tier 3 – 20%
• By Designation: C-level Executives – 40%, Directors – 30%, and Others – 30%
• By Region: Americas –40, APAC– 30%, 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 ISRA Vision (Germany), Ametek (US), Omron (Japan), Teledyne Technologies (US), Panasonic (Japan), Keyence (Japan), Datalogic SpA (Italy), FLIR Systems (US), Sony Corporation (Japan), Basler (Germany), National Instruments (US), Matrox Electronic System (Canada), IMS Messsysteme (Germany), Vitronic (Germany), Sick (Germany), Industrial Vision System (UK), Allied Vision Technologies (Germany), Baumer (Switzerland), In-core Systemes (France) and Dark Field Technologies (US).
This research report categorizes the global surface inspection market based on Component, deployment type, surface type, system, vertical and geography.The report describes the major drivers, restraints, challenges, and opportunities pertaining to the surface inspection market and forecasts the same till 2025.
Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the surface inspection ecosystem.
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 the strength of the product portfolio as well as the business strategy, will help stakeholders visualize the market positioning of these key players.
5. Stakeholders can get gist of use cases for automotive, semiconductor, and food & packaging industry.
Read the full report: https://www.reportlinker.com/p03912469/?utm_source=GNW
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