DUBLIN, December 20, 2021–(BUSINESS WIRE)–The “Surface Inspection Market with COVID-19 Impact Analysis, by Component, Surface Type (2D and 3D), System (Computer-based and Camera-Based), Deployment Type (Traditional Systems and Robotic Cells), Vertical, and Geography – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The surface inspection market is expected to grow from USD 3.5 billion in 2021 and is projected to reach USD 5.3 billion by 2026; it is expected to grow at a CAGR of 8.6%.
Initiatives by governments and public-private companies to mitigate COVID-19 impact is expected to drive the surface inspection market and to promote new revenue opportunities for surface inspections manufacturers. The Advanced Robotics for Manufacturing (ARM) Institute is a public-private association that strives to improve the competitiveness of manufacturers in the US through collaborations and the development of innovative robotics solutions along with a vision system for inspection of quality.
Furthermore, the increase in adoption of smart cameras, enhanced software, and powerful image processors owing to their benefits and features such as high-speed inspection, higher-resolution, and integration of AI and deep learning are also expected to raise the demand for surface inspection systems.
The software is evolved and designed to handle diverse data sources (multi-camera setup, for example, some surface inspection robots have up to eight cameras), and 3D images more efficiently. However, scarcity of technically skilled workers interferes with the proper integration of surface inspection systems in various industries is a major hindrance for the surface inspection market.
The market for robotic cells segment to grow at higher CAGR during the forecast period.
Robotic cells are expected to grow at a higher CAGR than traditional inspection systems during the forecast period. Because of advantages such as higher flexibility, accuracy, ability to handle various product variants, ability to reach difficult areas, and ease of handling several inspection points, the market for robotic cells segment is expected to grow at a higher CAGR during the forecast period.
Further, the demand for collaborative robots (cobots) based inspection cell systems is expected to grow due to the ability of cobots to work safely alongside humans and better return on investment (RoI) than traditional industrial robots.
Camera-based surface inspection systems are expected to grow at a higher rate during the forecast period.
The camera-based segment is expected to grow at a higher CAGR from 2021 to 2026. The lower cost, compact size, reliability, user-friendly software, and quick setup process are few key aspects that fuel the growth of this segment. Technological developments in cameras open up new market opportunities with better performance. For example, the Shutter CMOS UV camera (MV4-D1280U-H01-GT) by ISRA VISON (Germany) is developed specifically for UV applications.
This camera features a susceptible CMOS sensor that operates in the deepest UV spectrum. In April 2020, Cognex (US) introduced In-Sigh D900, the first industrial smart camera powered by deep learning capabilities that provides an all-in-one solution for complex in-line inspection challenges.
Moreover, with higher resolution, smart cameras will be available, replacing multiple cameras with a single camera and making the camera-based more cost-effective. Camera-based systems are compact, cost-effective, and can handle the complexities of the postal & logistics industry.
Therefore, camera-based systems will witness a higher CAGR than computer-based systems during the forecast period. In the future, brick-and-mortar retailers will also have automated infrastructure such as automated storage and retrieval services. This will further increase the demand for camera-based systems. During forecast period.
APAC: The fastest-growing region in the surface inspection market.
The major drivers for the growth of the surface inspection market in the APAC region includes the growing demand for automation in automotive, and electrical & electronics, and medical & pharmaceuticals industries in countries such as China, Japan, South Korea, Taiwan, and India. The automotive industry requires multiple cameras to inspect various shapes and sizes in three-dimensional and two-dimensional planes.
The market in the region is also expected to be driven by the rising demand for electronic products around the world. The strong electronics industry is attracting surface inspection system manufacturers to Singapore and China. Components such as computer chips, batteries, and displays are small and sensitive, and therefore, they need to be handled with high precision. Cameras are designed for high-speed data transfer in industrial imaging applications such as industrial automation, electronics manufacturing, semiconductor inspection, and PCB-AOI (automated optical inspection).
According to 2019 OEC data, the top exports of South Korea are integrated circuits (USD 104 billion). The presence of the largest producers of semiconductors companies such as Samsung (South Korea) and Taiwan Semiconductor Manufacturing Company (TSMC) is another factor driving the market in APAC. Thailand, being one of the largest producers of food products in Southeast Asia, is seeking to automate processes to enhance efficiency.
According to the World Economic Forum (WEF), Singapore is the second most open economy in the world. Whereas Thailand is set to become a global hub for plastics manufacturing; with a recent focus on automation. Hence, the demand for surface inspection systems in APAC is projected to grow at the fastest rate during the forecast period.
Premium Insights
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Increasing Wages and Demand for Electrical and Electronic Devices Have Fueled the Market Growth
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The Computer-Based Segment Estimated to Hold a Larger Share of the Surface Inspection Market in 2021
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Traditional Systems Estimated to Hold a Larger Share of the Surface Inspection Market in 2021
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Semiconductor Vertical and China are Estimated to Account for the Largest Share of the Market in APAC in 2021
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The Automotive Segment is Expected to Grow at the Highest CAGR During the Forecast Period
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The Market in the US is Expected to Grow at the Highest CAGR During the Forecast Period
Companies Mentioned
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Allied Vision Technologies
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Ametek
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Basler
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Baumer
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Cognex
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Dark Field Technologies
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Datalogic
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IMS Messsysteme
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In-Core Systemes
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Industrial Vision Systems
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Isra Vision
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Keyence
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Kitov
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Matrox Electronic Systems
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Moritex
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National Instrument
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Omron
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Panasonic
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Pixargus
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Sick
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Sipotek
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Sony
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Teledyne Flir
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Teledyne Technologies
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Vitronic
For more information about this report visit https://www.researchandmarkets.com/r/o43tri
View source version on businesswire.com: https://www.businesswire.com/news/home/20211220005549/en/
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