Surface Inspection Market Worth $ 5.3 Billion By 2026
CHICAGO, September 17, 2021 / PRNewswire / – According to a research report “Surface inspection market with COVID-19 impact analysis, by component, type of surface (2D and 3D), system (computer-based and camera-based), type of deployment (traditional systems and robotic cells), vertical and geographic – Global forecast to 2026 “, published by MarketsandMarkets ™, the surface inspection market is expected to grow from $ 3.5 billion in 2021 to $ 5.3 billion by 2026; it is expected to grow at a CAGR of 8.6% during the forecast period. The increasing demand for electrical and electronic devices is driving the growth of surface inspections. In addition, the increase in adoption of smart cameras, improved software and powerful image processors due to their benefits and functionality; increased demand for electrical and electronic devices; and initiatives by governments and public-private companies to mitigate the impact of COVID-19 across the world are playing a key role in the growth of the surface inspection market.
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Efficient and innovative inspection systems are required to meet quality standards in the electrical and electronic industries. The electrical and electronics industry requires inspection systems for fault detection in printed circuit boards, inspection of wafers, measurement of optical line width, inspection of magnetic disk drive heads and inspection of printed and flexible electronic components (displays). Due to COVID-19, the surface inspection market has faced headwinds for 2019-2020. Rather, it should start to see a recovery in 2021-2022.
Automotive Vertical Surface Inspection Market Expected To Grow At The Highest CAGR During The Forecast Period
The automotive industry increasingly relies on highly efficient surface inspection systems to prevent defects at various stages of production. Surface inspection systems capture a variety of material and production defects. Surface vision is used to inspect for defects in complex parts such as cylinder bores, crankcases and cylinder heads, on flat components such as cylinder head gaskets, as well as on printed electronics. The automotive industry requires the inspection of various large objects such as door panels using multiple cameras. Multiple camera solutions are more cost effective with computer systems. The automotive industry is experiencing good growth in emerging countries due to various factors such as rising wages and falling unemployment due to industrialization. Competition is fierce in the market, with countries other than the United States, Japan, and Germany make cars at lower prices. Quality has become an important parameter in the automotive industry, which makes surface inspection more important. With public funding of clean electric vehicles in developed countries, saturated markets in these regions are revitalizing. Hence, the automotive vertical surface inspection market is expected to grow at a faster rate during the forecast period.
Software market is expected to grow at the highest rate during the forecast period
Software is the main component of the surface inspection system and contributes significantly to the cost of the system. The software controls the image acquisition, processing and analysis functions. If the application is high speed, requires excellent image quality, and generates a lot of image data, software with good processing power and memory capabilities is required. HALCON and MERLIC are the two standard software products for machine vision designed by MVTEC Software (Germany). Integro Technologies (US) is a software integrator that creates and integrates software solutions to help manufacturers improve their machine vision inspection processes. Integro Technologies deep learning suites enhance machine vision inspection capabilities. AI.SEE is a service provided by elunic (Germany) which uses AI-based image recognition to provide automated quality assurance. A deep learning and AI-based automated visual inspection technology is capable of detecting different types of objects and is easy to configure by integrators, manufacturers and end users, as well as for the automation of inspection process. Deep learning, a cutting-edge technology based on superior AI intelligence, enables rapid identification of defective parts and products that need to be removed from the assembly. The images captured by the cameras / smart cameras are used to teach the software every detail just like humans. It offers an algorithm as a result of deep learning and, as the name suggests, it learns from the details provided to it. With technological advancements, increasing product complexity and increasing robot-based surface inspection systems, the need for 3D surface inspection systems is increasing; Hence, the software market is expected to grow at the highest CAGR during the forecast period.
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APAC Surface Inspection Market To Experience Highest CAGR During Forecast Period
APAC is expected to dominate the surface inspection market during the period 2021-2026. in terms of value. In terms of volume as well, APAC is expected to dominate the market throughout the forecast period. The APAC surface inspection market is further expected to grow at the highest CAGR during the forecast period and dominate the market throughout the forecast period both in terms of value and volume. APAC is considered to be a major manufacturing center in the world and is expected to provide many growth opportunities for the surface inspection market in this region. The APAC surface inspection market has experienced higher growth over the past 10 years than the maturing markets of Europe and the Americas because of low production costs, easy availability of an economical workforce, lenient emission and safety standards, and government initiatives for foreign direct investment (FDI). OEMs and suppliers of surface inspection systems have established production and sales facilities in this region to meet the needs of local and other markets. The aging of the population China and Japan has resulted in increased labor costs, leading to the increasing adoption of automation. The growing population also encourages companies to invest in APAC. Large companies have a base in APAC, including KEYENCE (Japan), OMRON (Japan), Panasonic (Japan), Sony (Japan), Sipotek (China), ADLINK (Taiwan), Alpha Techsys (India), SensoVision Systems (India), Kevision Systems (India) and MORITEX (Japan).
The main players in the surface inspection market are KEYENCE (Japan), Cognex (United States), ISRA VISION (Germany), OMRON (Japan), Teledyne Technologies (United States), Matrox Electronic Systems (Canada), Basel (Germany), VITRONIC (Germany), Teledyne FLIR (United States), Datalogic (Italy), Kitov (Israel), Dark Field Technologies (United States), IMS Messsysteme (Germany), Panasonic (Japan), AMETEK (US), National Instruments (US), Sick (Germany), Baumer (Switzerland), MORITEX (Japan), Sony (Japan), Allied Vision Technologies (Germany), Industrial Vision Systems (UK), PIXARGUS (Germany), In-Core Systems (France) and Sipotek (China).
ADLINK (Taiwan), Perceptron (United States), STEMMER IMAGING (Germany), Radiant Vision Systems (United States), Volability (Switzerland), 4D Technology (United States), Bluewrist (Canada), elunique (Germany), Integro Technologies (United States), Intego (Germany), INB Vision (Germany), Nanonets (United States), Alpha Techsys (India), SensoVision Systems (India) and Kevision Systems (India) are few startups and SMEs that address the surface inspection market.
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