Surface Inspection Market is Slated to Expand at a High 8.3% CAGR through 2031 | SkyQuest Technology
Westford, USA, Dec. 09, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the surface inspection market size will attain a value of USD 10.29 billion by 2031, with a CAGR of 8.3% over the forecast period (2024-2031). Rising emphasis on providing better quality control and rapid industrialization are slated to bolster surface inspection market growth. Growing demand for better finish and high quality from manufacturing industries will also promote the adoption of surface inspection in the future.
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Browse in-depth TOC on “Surface Inspection Market”
- Pages – 197
- Tables – 95
- Figures – 76
Surface Inspection Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 5.44 Billion |
| Estimated Value by 2031 | $ 10.29 Billion |
| Growth Rate | Poised to grow at a CAGR of 8.3% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, End-User, Vertical, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Growing industrialization boosting demand for surface inspection |
| Key Market Opportunities | Use of artificial intelligence to automated surface inspection solutions |
| Key Market Drivers | Emphasis on improving quality control in manufacturing industries |
Pivotal Role of Hardware Components in Improving Efficiency of Surface Inspection Allows it to Lead Revenue Generation
Hardware components are projected to account for a notable chunk of the global surface inspection market share. High use of advanced hardware components such as cameras and scanners in surface inspection systems and growing costs of advanced hardware solutions will help this segment maintain its dominant share across the study period and beyond.
Use of Intricate Designs Helping Automotive Industry Boost the Demand for Surface Inspection Going Forward
Increasing efforts of the automotive industry to improve quality and provide high-performance components are slated to benefit the global surface inspection market outlook. Growing automotive manufacturing activity and rising sales of vehicles on a global level are also expected to create new opportunities for surface inspection providers in the long run. India, China, Japan, and Germany are slated to be top markets for companies focusing on this segment.
Growing Adoption of Advanced Manufacturing Technologies Helps North America Lead Global Market Development
Companies in the North American region have always been prime adopters of advanced technologies, and this trend is also true for the manufacturing industry thereby helping it led the global surface inspection industry. The presence of a strong regulatory framework for quality and growing demand for better quality products in the region will also promote the demand for surface inspection going forward. Canada and the United States are slated to be the top markets for any surface inspection company operating in this region.
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Surface Inspection Market Insights:
Drivers
- Rising emphasis on improving quality control in different industries
- Rapid industrialization around the world
- Efforts of manufacturers to maximize their profits by reducing errors
Restraints
- High initial investments for implementation
- Complexity in integration of various systems
- Absence of skilled professionals
Prominent Players in Surface Inspection Market
The following are the Top Surface Inspection Companies
- Cognex Corporation (US)
- Omron Corporation (Japan)
- Keyence Corporation (Japan)
- Basler AG (Germany)
- Teledyne Technologies Incorporated (US)
- Baumer Holding AG (Switzerland)
- JAI A/S (Denmark)
- National Instruments Corporation (US)
- Panasonic Corporation (Japan)
- SICK AG (Germany)
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Key Questions Answered in Surface Inspection Market Report
- Which region will spearhead the demand for surface inspection?
- Is investing in the automotive industry worthwhile for market players?
- Can companies solve the issue of integration complexity?
- Which country brings in the most revenue as per this surface inspection market analysis?
This report provides the following insights:
- Analysis of key drivers (rapid industrialization, growing emphasis on improving quality control), restraints (complexity in integration, dearth of skilled professionals), and opportunities (development of automated surface inspection systems using artificial intelligence) influencing the growth of surface inspection market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the surface inspection market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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