Surface Inspection Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Surface Inspection Market by region.
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Surface Inspection Market Forecast and Trends
Surface Inspection Market is expected to witness strong growth due to rapid technological advancements over the years to come. The major factors that are anticipated to be driving the market are growing demand for quality assurance and automation, increasing wages in various countries, and advancements in vision technology and industrial expansion. Increasing quality requirements and customer expectations, manufacturers are implementing this technology into different applications. Advanced technologies such as machine vision (MV) enable manufacturers to optimize efficiency in the production facility, by providing equipment the capability to perform inspection automatically. Machine vision solution is largely being adopted by manufacturers as it assures the most reliable analysis results, superior quality control, high efficiency, and assures a high level of customer satisfaction. The rising issues of quality and the increasing labor costs are some of the factors that are influencing the manufacturers to adopt surface inspection techniques.
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Surface Inspection Market also experienced a slowdown. Statista estimates that the Surface Inspection Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Surface Inspection Market generated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Surface Inspection Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
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According to Statista, as of 2021 data, the United States held over ~36% of the global market share for information and communication technology (ICT). With a market share of 16%, the EU ranked second, followed by 12%, China ranked third. In addition, according to forecasts, the ICT market will reach more than US$ 6 trillion in 2021 and almost US$ 7 trillion by 2023. In today’s society, continuous growth is another reminder of how ubiquitous and crucial technology has become. Over the next few years, traditional tech spending will be driven mainly by big data and analytics, mobile, social, and cloud computing.
This report analyzes the global primary production, consumption, and fastest-growing countries in the Information and Communications Technology(ICT) market. Also included in the report are prominent and prominent players in the global Information and Communications Technology Market (ICT).
Global Surface Inspection Market: Overview
A surface inspection technology is utilized for the inspection and visualization of defects on the ground or machined components (e.g., cracks, pitting, and changes in material quality). Inspecting objects for scratches, cracks, wear, or checking surfaces for the proper finish, roughness and texture, are typical tasks of surface quality inspection. Surface inspection examines and detects the presence or the absence of features that are required in the final product. There are certain points that are verified by using the surface inspection technique, such as whether the assembly of the product is correct or not, it detects the flaws and defects on the surface of the various parts of the machines or boards. The defects can be of the type such as seams, scabs, burned steel, laps, and guide marks and twist.
Significant Technological Improvements
Advanced technology in inspection systems helps to take advantage of machine vision cameras for data collection and computer software for data analysis. The camera captures images and sends them to the computer for processing. The computer then examines and analyzes the images and makes decisions as to whether the image has passed or failed the inspection.
Increasing Wages of workers in Various Countries
In developed countries the wages of workers are increasing and to reduce expenses companies are looking for the automated surface inspection. As automated surface inspections have better results due to these factors the global surface inspection market is expected to grow during the forecast period.
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Lack of skilled individuals for proper inspection in various industries
Due to the presence of lack of skilled individuals for proper inspection in various industries due to the upgradation of new technologies in the market is the major restraint in the market for the surface inspection market.
Global Surface Inspection Market: Component
On the basis of Component, the market is segmented into Camera, Software, Processor, Lighting Equipment, Frame Grabbers, Optics, Others. Camera segment is expected to grow during the forecast period.
Camera segment is expected to dominate the market during the forecast period. Camera segment is expected to hold the largest market share during the forecast period due to many applications such as inspection of packaging for proper lids and labels, and inspection of large objects such as doors of vehicles that require multiple cameras to cover large areas. Cameras are also being constantly being updated in terms of resolution and frame rate. While different components are finding replacements, camera and software continues to be unplaced. The requirement for standalone processors is anticipated to decrease due to the availability of camera-based systems provided with onboard processors. Optics can be replaced using robotic cells, which allow flexibility in the distance between the camera and the work part. With the arrival of high-resolution cameras, frame grabbers are not needed for low-end applications.
Global Surface Inspection Market: Surface System
On the basis of Surface System, the market is segmented into 2D and 3D. The 3D segment is expected to dominate the market during the forecast period. The 3D surface inspection system can overcome several constraints of 2D surface inspection systems. 3D systems are distinguished invariant, and therefore with 3D inspection, it is likely to perform stable detection of minute dents and flaws that look similar to different patterns on the target, which are challenging to differentiate with regular 2D images. The 3D systems overcome the constraints of contrast, lighting, and range to object. Also, 3D systems recognize the depth of flaws or distortion level, thereby predicting the severity of defects. Furthermore, a 3D camera can capture both 3D and 2D images together. 3D systems provide greater statistical results due to larger data set sizes and can produce Nanometer resolution.
Global Surface Inspection Market: System
On the basis of System, the market is segmented into Computer System and Camera System.
The Computer-based surface inspection systems are able to handle complex operations at relatively high speed and have greater processing power that allows them to handle unexpected variables in specific tasks. The surface inspection industry usually needs complex algorithms, making computer systems more common. A computer-based surface inspection system allows high flexibility for several reasons due to the use of high-speed intel processors it can handle a wider range of applications as compared to the camera-based system, it gives the option to select among an area scan or the line scan camera, and it enables third-party software, unlike camera systems that have single-source software. Also, unlike camera-based systems, computer systems have various sockets and are able to handle numerous cameras. When various cameras are under consideration, then the computer system is more affordable than the camera system as one PC can control various cameras at a time.
Global Surface Inspection Market: Regional Insights
On the basis of regional analysis, the global artificial intelligence in food and beverages market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia Pacific surface inspection industry is expected to witness considerable growth with a CAGR over the forecast period. And aslo due to easy availability of cheap labor, lenient emission & safety measures, and government initiatives for Foreign Direct Investments (FDIs). OEMs and suppliers of surface inspection systems have set up production and sales facilities in this region to provide to local, as well as other international markets. This growth can be due to several factors such as new factory automation, the rising level of manufacturing activities, growing investments in assembly line automation and production mainly in China, India, Japan, and South Korea. Increasing focus on attaining operational efficiency and product quality is also contributing to regional growth.
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The companies that hold the majority share of Surface Inspection Market are Baumer Inspection, Cognex Corporation, ETS SuperVision BV, Microscan Systems Inc., Vitronic GmbH, Adept Technology, Inc., Edmund Optics Inc., Industrial Vision Systems Ltd., Matrox Imaging, Omron Corporation, ISRA Vision, Ametek, Teledyne Technologies, Panasonic Corporation and Other Prominent Players.
October, 2019: Cognex Corporation a leading company in machine vision for factory automation and industrial barcode reading, today announced the acquisition of SUALAB, a leading Korean-based developer of vision software using deep learning for industrial applications.
November, 2019: Joint development project by ISRA VISION PARSYTEC and Tata Steel now successfully in operation. ISRA VISION PARSYTEC and Tata Steel have developed a special method for detecting defects. The automatic surface inspection system is able to detect periodic roll mark defects, via overlaying several pictures
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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