Dublin, July 07, 2023 (GLOBE NEWSWIRE) -- The "Digital Inspection: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Digital Inspection estimated at US$24.2 Billion in the year 2022, is projected to reach a revised size of US$39.2 Billion by 2030, growing at a CAGR of 6.2% over the analysis period 2022-2030.
Hardware, one of the segments analyzed in the report, is projected to record a 5.3% CAGR and reach US$16.7 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Software segment is readjusted to a revised 7.4% CAGR for the next 8-year period.
The U.S. Market is Estimated at $6.6 Billion, While China is Forecast to Grow at 6% CAGR
The Digital Inspection market in the U.S. is estimated at US$6.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$6.9 Billion by the year 2030 trailing a CAGR of 6% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 5.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.1% CAGR.
Select Competitors (Total 137 Featured) -
- Baker Hughes, a GE Company
- Basler AG
- Carl Zeiss AG
- Cognex Corporation
- FARO Technologies, Inc.
- FPrimeC Solutions, Inc.
- Hexagon AB
- MISTRAS Group, Inc.
- Mitutoyo Corporation
- National Instruments Corporation
- Nikon Metrology NV
- Olympus Corporation
- Omron Corporation
- SHINING 3D
- Zebicon a/s
- Zetec, Inc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 577 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $24.2 Billion |
| Forecasted Market Value (USD) by 2030 | $39.2 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- Impact of Covid-19 and a Looming Global Recession
- An Introduction to Digital Inspection
- Evolution of Inspection Methods
- Worldwide Digital Inspection Market: Prospects and Outlook
- Metrology Dominates Digital Inspection Market
- Hardware Segment Leads, Software to Propel Future Growth
- 3D Digital Inspections Set for Strong Growth
- Developed Regions Hold a Significant Share of Global Market
- Global Economic Scenario Influences Market Dynamics
- Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021
- Manufacturing PMI: An Important Bellwether
- Global Manufacturing Purchasing Managers' Index (PMI) for the Years 2012 through 2019
- Digital Inspection - Global Key Competitors Percentage Market Share in 2022 (E)
- Vendors Focus on Product Innovations to Reinforce Market Positions
- Recent Market Activity
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Inherent Benefits of Digital Inspection Technologies over Traditional Inspection Techniques Drives Market Growth
- Digital Platforms Find Increasing Adoption to Streamline Facility Inspections
- Robust Opportunity for Precision Parts Manufacturing Pushes Up the Importance of Digital Inspection Technologies
- Global Parts & Components Market (in US$ Billion) for the Years 2020, 2022 and 2024
- Digital Inspection Gains Strong Foothold in the Manufacturing Industry
- Top 10 Countries in Terms of Manufacturing Output: 2018
- Growing Adoption of Industrial Automation Solutions Spurs Need for Digital Inspection
- 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
- 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
- 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
- Global Passenger Car Production (In Million Units) for the Years 2010, 2016, 2020, and 2024
- 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
- 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
- Global Commercial Aircraft Fleet Size (in Units) by Aircraft Type for the Years 2018 and 2038
- Global Commercial Aircraft Fleet Size (in Units) by Geographic Region for the Years 2018 & 2038
- Aging Aircraft Widen Addressable Market for NDT Technology
- 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
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/tvthvv
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