Pune, March 28, 2023 (GLOBE NEWSWIRE) -- Based SNS Insider analysis, with the increasing demand for automation in various industries such as automotive, electronics, and healthcare, there is a growing need for defect detection systems that can quickly and accurately identify defects in products and processes. SNS Insider reports that the Defect Detection Market was worth USD 3.67 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 7.8% during the forecast period of 2023-2030, reaching a value of USD 6.70 billion by 2030.
Defect detection is a crucial process that plays a vital role in ensuring the safety, reliability, and quality of products and systems. By investing in effective defect detection processes, businesses can improve their reputation, reduce costs, and increase customer satisfaction. There are various methods for defect detection, including visual inspections, automated testing, and statistical process control.
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Defect Detection Market Report Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 3.67 Bn |
| Market Size by 2030 | US$ 6.70 Mn |
| CAGR From 2023 to 2030 | 7.8% |
| Key Segments | • By Offering (Hardware, Software, Services) • By Application (Manufacturing, Packaging) • By Vertical (Pharmaceuticals, Electronics & Semiconductors, Food And Packaging, Automotive, Metals & Machinery) |
| Company Profiles | Microsoft, Amazon Web Services, Cognex Corporation, ISRA VISION, Datalogic, IBM, OMRON Corporation, Teledyne Technologies, KEYENCE, Matrox Electronic Systems |
| Market Drivers | • Application-specific integrated circuits are in high demand (asics). • Manufacturers put a greater emphasis on automating quality control and assurance operations. |
Market Analysis
The global defect detection market is experiencing significant growth due to various factors. One of the key drivers of this growth is the high demand for application-specific integrated circuits (ASICs). ASICs are used in various industries, including automotive, consumer electronics, and healthcare, and they require high precision and quality control in their manufacturing process. As a result, defect detection systems are being widely adopted to ensure that ASICs meet the required specifications. In addition to ASICs, there is also a growing need for defect detection in various industries due to stringent health and safety measures imposed by governments and standards organizations.
Impact of Recession
The impact of a recession on the defect detection market is complex and can vary depending on a variety of factors. While there may be some challenges during an economic downturn, there are also opportunities for companies that can offer high-quality, cost-effective defect detection services.
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Key Regional Development
The Asia Pacific region is expected to hold the largest market share in terms of revenue for the global defect detection market in the coming years. This can be attributed to several factors, including the presence of large manufacturing facilities in countries such as Japan, China, India, and South Korea, which have prioritized automation in their industries. The food and packaging industry in Asia Pacific is rapidly adopting defect detection systems to ensure product safety and quality. Similarly, the semiconductor industry is also witnessing significant growth, driven by the increasing demand for electronic devices, which is fueling the demand for defect detection systems in the region.
Recent Developments Related to Defect Detection Market
- Siemens, the German multinational conglomerate, has turned to Omniverse Replicator on AWS to boost its defect detection model development process. By utilizing the power of synthetic data generation, Siemens aims to accelerate its model development by five times. Siemens will leverage this platform to generate large volumes of synthetic data that will be used to train and test its defect detection models.
- The DREAM project is an ambitious initiative aimed at revolutionizing the additive manufacturing industry by developing an automated defect detection system. This cutting-edge technology is set to transform the way in which defects are detected and addressed in the additive manufacturing process. This system will be based on advanced machine learning algorithms and will be able to detect defects in both the design and production stages of additive manufacturing.
Key Takeaway from Defect Detection Market Study
- The manufacturing industry segment is poised to dominate in the coming years. This trend is driven by several factors that are unique to the manufacturing industry, such as the increasing demand for quality assurance and the need for efficient defect detection methods.
- The pharmaceutical segment is set to dominate the market due to the increasing demand for high-quality pharmaceutical products, the need for stringent quality control measures, and the growing use of automation and artificial intelligence in the industry.
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