Global Surface Vision and Inspection Market is estimated to account for US$ 4563.8 Mn by end of 2027, Says Coherent Market Insights (CMI)
SEATTLE, March 08, 2021 (GLOBE NEWSWIRE) — Surface vision and inspection are very useful and important tools in the various manufacturing industries. It provides comprehensive visual inspection and surface mapping solutions and is used in many manufacturing domains. Visual inspection is an essential tool in the inspection process surface vision and inspection is very flexible and has the ability to work on both flat and inclined surfaces. With its full-motion capabilities, the surface vision and inspection can conveniently move along the desired axis. In addition, this system are produced with advanced image processing algorithms for efficient image processing, allowing it to take high-resolution images and offer detailed topography and subsurface mapping. The goal of the surface vision and inspection is to identify performance defects and problems before systems or products reach production.
The global Surface Vision and Inspection market is estimated to account for 4563.8 Mn in terms of value by the end of 2027
Market Drivers:
Growing demand for quality assurance and automation coupled with the advancements in vision technology is driving the growth of the surface vision and inspection market. Increasing installation of the system across manufacturing industries for reducing overall operational cost is again propelling the growth of the market. Also, rapid industrialization across developing countries is supporting the growth of the market. These systems help in reducing waste and increasing production efficiency along with reducing production cost is further projected to augment the growth of the surface vision and inspection market.
The increasing launch of innovative technologies by key players in order to meet the rising demand from end-users is escalating the growth of the surface vision and inspection market. For instance, in May 2020, AMETEK Surface Vision, the provider of automated online surface inspection solutions, has announced the launch of a new preventative maintenance service to monitor and maintain inspection systems. This system is designed to assist with inspection system maintenance.
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Market Opportunities:
The growing popularity of solutions such as 3D vision using laser triangulation across various industries such as solar cells, printing, automotive, semiconductor, etc. is projected to provide potential opportunities. This is a cost-effective method as this uses multiple cameras because of which they are gaining adoption. Moreover, these technologies significantly reduce production costs with efficiency and accuracy. This further improves the quality of products.
The increasing improvement in microchips and LEDs which are used in cameras are facilitating the manufacturing of smaller, reliable, and economical products are estimated to offer lucrative opportunities. Emerging software and hardware systems are also anticipated to foster the growth of the market. Furthermore, the increasing demand for sophisticated and advanced software solutions from a wide range of industries is again projected to propel the growth of the market.
Market Trends:
A growing number of partnerships and agreements among key manufacturers for expanding the business on a regional as well as a global basis is one of the emerging trends in the market. For instance, in November 2019, BST eltromat and SeeOne Vision Technology have signed a partnership agreement for surface inspection. BST eltromat is a producer of quality assurance systems in web processing production processes, with SeeOne a manufacturer of surface inspection systems. Thus, such a business strategy is projected to foster the growth of the market in the near future.
Increasing implementation of strict regulations for improving food & drug safety in order to fight against counterfeiting across the pharmaceutical and food industry is expected to be a key trend in the market. This is attributed to the growing health and wellness trend coupled with the rapid urbanization around the globe. This system effectively stops counterfeiting and achieves greater visibility in the supply chain process. Also, they enhance the traceability of the products during transportation.
Competitive Landscape:
Matrox Imaging, Adept Technology, Inc., Toshiba Teli Corporation, Cognex Corporation, Sharp Corporation, Edmund Optics Inc., Perceptron Inc., ISRA VISION AG, Panasonic Corporation, Microscan Systems, Inc., and Omron Corporation.
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Market segmentation:
By System Type
- Computer Systems
- Camera Systems
By Components
- Camera
- Lighting
- Optics
- Software and hardware
- Frame Grabber
By Application
- Automotive
- Electrical/Electronics
- Semiconductor
- Medical Devices
- Food Pharmaceutical
- Metal
- Rubber and Plastics
- Printing
- Wood and Paper
- Other Industrial Applications
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.
Media Contact:Mr. ShahSenior Client Partner – Business DevelopmentCoherent Market InsightsPhone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837Email: [email protected]: https://www.coherentmarketinsights.com
