The global digital inspection market size is anticipated to register a significant CAGR of around 7% during the forecast period 2021 to 2027. The technological benefits associated with digital inspection over traditional methods; the rising adoption of industrial automation and the growing digitalization are some of the major factors driving the market growth. Furthermore, the rising consumer awareness regarding safety and quality standards is further anticipated to fuel the market growth over the forecast period. However, the high installation cost associated with these systems is a major factor restraining the market growth.
Market Drivers:
Increasing Emphasis on Quality Control and Efficiency: Organizations across various industries are placing a greater emphasis on quality control, operational efficiency, and compliance with regulations. Digital inspection solutions provide advanced capabilities for real-time monitoring, data collection, and analysis, enabling organizations to streamline inspection processes, identify defects or anomalies quickly, and ensure product or service quality.
Technological Advancements: Advancements in technologies such as machine vision, artificial intelligence (AI), Internet of Things (IoT), and robotics have significantly enhanced the capabilities of digital inspection systems. These technologies enable automated inspections, predictive analytics, remote monitoring, and real-time feedback, leading to improved accuracy, speed, and reliability of inspections.
Cost Reduction and Time Savings: Digital inspection solutions offer cost and time-saving benefits compared to traditional inspection methods. Automation and digitalization of inspection processes reduce the need for manual labor, minimize human errors, and enable faster inspection cycles. This leads to cost reductions, increased productivity, and quicker time-to-market for products and services.
Industry 4.0 and Smart Manufacturing Initiatives: The adoption of Industry 4.0 principles and smart manufacturing initiatives are driving the demand for digital inspection solutions. These solutions play a crucial role in implementing smart factories, where interconnected systems, real-time data analytics, and automation enable efficient and intelligent inspection processes. Digital inspection supports the integration of inspection data with other manufacturing systems, facilitating data-driven decision-making and process optimization.
Growing Compliance Requirements and Safety Regulations: Regulatory compliance and safety standards are becoming increasingly stringent across industries, such as manufacturing, healthcare, energy, and transportation. Digital inspection solutions provide accurate and traceable inspection data, documentation, and audit trails, ensuring compliance with regulations and standards. These solutions help organizations maintain safety standards, minimize risks, and avoid penalties or liabilities.
Increasing Demand for Non-Destructive Testing (NDT): Non-destructive testing techniques are widely used in industries such as aerospace, oil and gas, automotive, and infrastructure to assess the integrity and reliability of materials, components, and structures without causing damage. Digital inspection technologies, including ultrasonic testing, radiography, and thermography, enhance the efficiency, accuracy, and safety of NDT processes, driving the demand for digital inspection solutions.
Remote Inspection and Collaboration: The ability to remotely conduct inspections and collaborate with experts or inspectors located in different locations is gaining importance, especially in situations where travel or physical presence is limited. Digital inspection solutions leverage technologies such as video streaming, augmented reality (AR), and virtual reality (VR) to enable remote inspection capabilities, reducing costs, improving efficiency, and facilitating knowledge sharing.
Increasing Complexity and Customization in Manufacturing: The manufacturing industry is experiencing increasing complexity and customization requirements due to evolving customer demands and product innovations. Digital inspection solutions offer flexibility and scalability to adapt to changing inspection requirements and accommodate customization. They provide tools for analyzing complex data sets, detecting variations, and ensuring consistent quality in customized or highly engineered products.
Market Snapshot:
| Benchmark Year | 2022 | ||
| Market Size | lock | ||
| Market Growth (CAGR) | ~ 7% (2023-2030) | ||
| Largest Market Share | lock | ||
| Analysis Period | 2020-2030 | ||
| Market Players | General Electric, Olympus, MISTRAS Group, Cognex, and Hexagon |
Market Insights:
The global digital inspection market is bifurcated into component, technology, dimension, end-use, and geography. On the basis of component, the market is further segmented into hardware, software, and services. The hardware segment is accounted to hold the largest revenue share of the market by the end of the analysis period. On the flip side, the software segment is estimated to grow at the highest growth rate over the forecast period. The increasing adoption of industrial automation in various industries and the increasing adoption of industry 4.0 are some of the major factors expected to fuel the segment growth over the forecast period.
On the basis of technology, the market is segmented into metrology, machine vision, and NDT. The metrology segment dominated the global digital inspection market in 2020 and is expected to grow at the same trends over the forecast period. The rising need for precise inspection of 3D data used for modeling and analysis of 3D models, increasing attention to quality control, the inefficiency of traditional measurement tools to address many manufacturing issues, and increasing automation and in-line metrology are some of the major factors driving the segment growth. In contrast, the NDT segment is expected to grow at the fastest growth rate over the forecast period owing to the rising adoption of IoT solutions and the growing industrial automation across the world.
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The digital inspection comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.
The digital inspection market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.
Historical & Forecast Period
- 2018-19 – Historical Year
- 2020 – Base Year
- 2021-2027 – Forecast Period
Market Segmentation:
By Component:
- Hardware
- Software
- Services
By Technology:
- Metrology
- Machine Vision
- NDT
By Dimension:
- 2D
- 3D
By End-Use:
- Manufacturing
- Aerospace & Defense
- Oil & Gas
- Automotive
- Food & Pharmaceuticals
- Electronics
- Power
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Geographic Coverage
Geographically, the digital inspection market report comprises dedicated sections centering on the regional market revenue and trends. The digital inspection market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The digital inspection market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Digital inspection market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.
Competitive Assessment
Some of the major market players operating in the global digital inspection market are General Electric, Olympus, MISTRAS Group, Cognex, and Hexagon. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.
Key Companies:
- General Electric
- Olympus
- MISTRAS Group
- Cognex
- Hexagon
- Zetec
- Nikon
- Basler
- FARO Technologies
- Carl Zeiss
Key Questions Answered by Digital Inspection Market Report
- Global digital inspection market forecasts from 2021-2027
- Regional digital inspection market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
- Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
- Digital inspection submarket forecasts from 2021-2027 cover the market by component, by technology, by dimension, by end-use, and geography
- Various industry models such as SWOT analysis, Value Chain Analysis about digital inspection market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level digital inspection markets from 2021-2027
- Competitive Landscape and market positioning of top 10 players operating in the digital inspection market
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions
2. Executive Summary
2.1. Global Digital Inspection Market Portraiture
2.2. Global Digital Inspection Market, by Component, 2020 (USD Mn)
2.3. Global Digital Inspection Market, by Technology, 2020 (USD Mn)
2.4. Global Digital Inspection Market, by Dimension, 2020 (USD Mn)
2.5. Global Digital Inspection Market, by End-Use, 2020 (USD Mn)
2.6. Global Digital Inspection Market, by Geography, 2020 (USD Mn)
3. Global Digital Inspection Market Analysis
3.1. Digital Inspection Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis
4. Global Digital Inspection Market By Component, 2018 – 2027 (USD Mn)
4.1. Overview
4.2. Hardware
4.3. Software
4.4. Services
5. Global Digital Inspection Market By Technology, 2018 – 2027 (USD Mn)
5.1. Overview
5.2. Metrology
5.3. Machine Vision
5.4. NDT
6. Global Digital Inspection Market By Dimension, 2018 – 2027 (USD Mn)
6.1. Overview
6.2. 2D
6.3. 3D
7. Global Digital Inspection Market By End-Use, 2018 – 2027 (USD Mn)
7.1. Overview
7.2. Manufacturing
7.3. Aerospace & Defense
7.4. Oil & Gas
7.5. Automotive
7.6. Food & Pharmaceuticals
7.7. Electronics
7.8. Power
7.9. Others
8. North America Digital Inspection Market Analysis and Forecast, 2018 – 2027 (USD Mn)
8.1.1. Overview
8.1.2. North America Digital Inspection Market by Component (2018-2027 USD Mn)
8.1.3. North America Digital Inspection Market by Technology (2018-2027 USD Mn)
8.1.4. North America Digital Inspection Market by Dimension (2018-2027 USD Mn)
8.1.5. North America Digital Inspection Market by End-Use (2018-2027 USD Mn)
8.1.6. North America Digital Inspection Market by Country (2018-2027 USD Mn)
8.1.6.1. U.S.
8.1.6.1.1. U.S. Digital Inspection Market by Component (2018-2027 USD Mn)
8.1.6.1.2. U.S. Digital Inspection Market by Technology (2018-2027 USD Mn)
8.1.6.1.3. U.S. Digital Inspection Market by Dimension (2018-2027 USD Mn)
8.1.6.1.4. U.S. Digital Inspection Market by End-Use (2018-2027 USD Mn)
8.1.6.2. Canada
8.1.6.2.1. Canada Digital Inspection Market by Component (2018-2027 USD Mn)
8.1.6.2.2. Canada Digital Inspection Market by Technology (2018-2027 USD Mn)
8.1.6.2.3. Canada Digital Inspection Market by Dimension (2018-2027 USD Mn)
8.1.6.2.4. Canada Digital Inspection Market by End-Use (2018-2027 USD Mn)
9. Europe Digital Inspection Market Analysis and Forecast, 2018 – 2027 (USD Mn)
9.1.1. Overview
9.1.2. Europe Digital Inspection Market by Component (2018-2027 USD Mn)
9.1.3. Europe Digital Inspection Market by Technology (2018-2027 USD Mn)
9.1.4. Europe Digital Inspection Market by Dimension (2018-2027 USD Mn)
9.1.5. Europe Digital Inspection Market by End-Use (2018-2027 USD Mn)
9.1.6. Europe Digital Inspection Market by Country (2018-2027 USD Mn)
9.1.6.1. Germany
9.1.6.1.1. Germany Digital Inspection Market by Component (2018-2027 USD Mn)
9.1.6.1.2. Germany Digital Inspection Market by Technology (2018-2027 USD Mn)
9.1.6.1.3. Germany Digital Inspection Market by Dimension (2018-2027 USD Mn)
9.1.6.1.4. Germany Digital Inspection Market by End-Use (2018-2027 USD Mn)
9.1.6.2. U.K.
9.1.6.2.1. U.K. Digital Inspection Market by Component (2018-2027 USD Mn)
9.1.6.2.2. U.K. Digital Inspection Market by Technology (2018-2027 USD Mn)
9.1.6.2.3. U.K. Digital Inspection Market by Dimension (2018-2027 USD Mn)
9.1.6.2.4. U.K. Digital Inspection Market by End-Use (2018-2027 USD Mn)
9.1.6.3. France
9.1.6.3.1. France Digital Inspection Market by Component (2018-2027 USD Mn)
9.1.6.3.2. France Digital Inspection Market by Technology (2018-2027 USD Mn)
9.1.6.3.3. France Digital Inspection Market by Dimension (2018-2027 USD Mn)
9.1.6.3.4. France Digital Inspection Market by End-Use (2018-2027 USD Mn)
9.1.6.4. Italy
9.1.6.4.1. Italy Digital Inspection Market by Component (2018-2027 USD Mn)
9.1.6.4.2. Italy Digital Inspection Market by Technology (2018-2027 USD Mn)
9.1.6.4.3. Italy Digital Inspection Market by Dimension (2018-2027 USD Mn)
9.1.6.4.4. Italy Digital Inspection Market by End-Use (2018-2027 USD Mn)
9.1.6.5. Rest of Europe
9.1.6.5.1. Rest of Europe Digital Inspection Market by Component (2018-2027 USD Mn)
9.1.6.5.2. Rest of Europe Digital Inspection Market by Technology (2018-2027 USD Mn)
9.1.6.5.3. Rest of Europe Digital Inspection Market by Dimension (2018-2027 USD Mn)
9.1.6.5.4. Rest of Europe Digital Inspection Market by End-Use (2018-2027 USD Mn)
10. Asia Pacific Digital Inspection Market Analysis and Forecast, 2018 – 2027 (USD Mn)
10.1.1. Overview
10.1.2. Asia Pacific Digital Inspection Market by Component (2018-2027 USD Mn)
10.1.3. Asia Pacific Digital Inspection Market by Technology (2018-2027 USD Mn)
10.1.4. Asia Pacific Digital Inspection Market by Dimension (2018-2027 USD Mn)
10.1.5. Asia Pacific Digital Inspection Market by End-Use (2018-2027 USD Mn)
10.1.6. Asia Pacific Digital Inspection Market by Country (2018-2027 USD Mn)
10.1.6.1. China
10.1.6.1.1. China Digital Inspection Market by Component (2018-2027 USD Mn)
10.1.6.1.2. China Digital Inspection Market by Technology (2018-2027 USD Mn)
10.1.6.1.3. China Digital Inspection Market by Dimension (2018-2027 USD Mn)
10.1.6.1.4. China Digital Inspection Market by End-Use (2018-2027 USD Mn)
10.1.6.2. Japan
10.1.6.2.1. Japan Digital Inspection Market by Component (2018-2027 USD Mn)
10.1.6.2.2. Japan Digital Inspection Market by Technology (2018-2027 USD Mn)
10.1.6.2.3. Japan Digital Inspection Market by Dimension (2018-2027 USD Mn)
10.1.6.2.4. Japan Digital Inspection Market by End-Use (2018-2027 USD Mn)
10.1.6.3. Rest of Asia Pacific
10.1.6.3.1. Rest of Asia Pacific Digital Inspection Market by Component (2018-2027 USD Mn)
10.1.6.3.2. Rest of Asia Pacific Digital Inspection Market by Technology (2018-2027 USD Mn)
10.1.6.3.3. Rest of Asia Pacific Digital Inspection Market by Dimension (2018-2027 USD Mn)
10.1.6.3.4. Rest of Asia Pacific Digital Inspection Market by End-Use (2018-2027 USD Mn)
11. Latin America (LATAM) Digital Inspection Market Analysis and Forecast, 2018 – 2027 (USD Mn)
11.1.1. Overview
11.1.2. Latin America Digital Inspection Market by Component (2018-2027 USD Mn)
11.1.3. Latin America Digital Inspection Market by Technology (2018-2027 USD Mn)
11.1.4. Latin America Digital Inspection Market by Dimension (2018-2027 USD Mn)
11.1.5. Latin America Digital Inspection Market by End-Use (2018-2027 USD Mn)
11.1.6. Latin America Digital Inspection Market by Country (2018-2027 USD Mn)
11.1.6.1. Brazil
11.1.6.1.1. Brazil Digital Inspection Market by Component (2018-2027 USD Mn)
11.1.6.1.2. Brazil Digital Inspection Market by Technology (2018-2027 USD Mn)
11.1.6.1.3. Brazil Digital Inspection Market by Dimension (2018-2027 USD Mn)
11.1.6.1.4. Brazil Digital Inspection Market by End-Use (2018-2027 USD Mn)
11.1.6.2. Mexico
11.1.6.2.1. Mexico Digital Inspection Market by Component (2018-2027 USD Mn)
11.1.6.2.2. Mexico Digital Inspection Market by Technology (2018-2027 USD Mn)
11.1.6.2.3. Mexico Digital Inspection Market by Dimension (2018-2027 USD Mn)
11.1.6.2.4. Mexico Digital Inspection Market by End-Use (2018-2027 USD Mn)
11.1.6.3. Rest of Latin America
11.1.6.3.1. Rest of Latin America Digital Inspection Market by Component (2018-2027 USD Mn)
11.1.6.3.2. Rest of Latin America Digital Inspection Market by Technology (2018-2027 USD Mn)
11.1.6.3.3. Rest of Latin America Digital Inspection Market by Dimension (2018-2027 USD Mn)
11.1.6.3.4. Rest of Latin America Digital Inspection Market by End-Use (2018-2027 USD Mn)
12. Middle East and Africa Digital Inspection Market Analysis and Forecast, 2018 – 2027 (USD Mn)
12.1.1. Overview
12.1.2. MEA Digital Inspection Market by Component (2018-2027 USD Mn)
12.1.3. MEA Digital Inspection Market by Technology (2018-2027 USD Mn)
12.1.4. MEA Digital Inspection Market by Dimension (2018-2027 USD Mn)
12.1.5. MEA Digital Inspection Market by End-Use (2018-2027 USD Mn)
12.1.6. Middle East and Africa Digital Inspection Market, by Country (2018-2027 USD Mn)
12.1.6.1. GCC
12.1.6.1.1. GCC Digital Inspection Market by Component (2018-2027 USD Mn)
12.1.6.1.2. GCC Digital Inspection Market by Technology (2018-2027 USD Mn)
12.1.6.1.3. GCC Digital Inspection Market by Dimension (2018-2027 USD Mn)
12.1.6.1.4. GCC Digital Inspection Market by End-Use (2018-2027 USD Mn)
12.1.6.2. South Africa
12.1.6.2.1. South Africa Digital Inspection Market by Component (2018-2027 USD Mn)
12.1.6.2.2. South Africa Digital Inspection Market by Technology (2018-2027 USD Mn)
12.1.6.2.3. South Africa Digital Inspection Market by Dimension (2018-2027 USD Mn)
12.1.6.2.4. South Africa Digital Inspection Market by End-Use (2018-2027 USD Mn)
12.1.6.3. Rest of MEA
12.1.6.3.1. Rest of MEA Digital Inspection Market by Component (2018-2027 USD Mn)
12.1.6.3.2. Rest of MEA Digital Inspection Market by Technology (2018-2027 USD Mn)
12.1.6.3.3. Rest of MEA Digital Inspection Market by Dimension (2018-2027 USD Mn)
12.1.6.3.4. Rest of MEA Digital Inspection Market by End-Use (2018-2027 USD Mn)
13. Company Profiles
13.1. General Electric
13.1.1. Business Description
13.1.2. Financial Health and Budget Allocation
13.1.3. Product Positions/Portfolio
13.1.4. Recent Development
13.1.5. SWOT Analysis
13.2. Olympus
13.2.1. Business Description
13.2.2. Financial Health and Budget Allocation
13.2.3. Product Positions/Portfolio
13.2.4. Recent Development
13.2.5. SWOT Analysis
13.3. MISTRAS Group
13.3.1. Business Description
13.3.2. Financial Health and Budget Allocation
13.3.3. Product Positions/Portfolio
13.3.4. Recent Development
13.3.5. SWOT Analysis
13.4. Cognex
13.4.1. Business Description
13.4.2. Financial Health and Budget Allocation
13.4.3. Product Positions/Portfolio
13.4.4. Recent Development
13.4.5. SWOT Analysis
13.5. Hexagon
13.5.1. Business Description
13.5.2. Financial Health and Budget Allocation
13.5.3. Product Positions/Portfolio
13.5.4. Recent Development
13.5.5. SWOT Analysis
13.6. Zetec
13.6.1. Business Description
13.6.2. Financial Health and Budget Allocation
13.6.3. Product Positions/Portfolio
13.6.4. Recent Development
13.6.5. SWOT Analysis
13.7. Nikon
13.7.1. Business Description
13.7.2. Financial Health and Budget Allocation
13.7.3. Product Positions/Portfolio
13.7.4. Recent Development
13.7.5. SWOT Analysis
13.8. Basler
13.8.1. Business Description
13.8.2. Financial Health and Budget Allocation
13.8.3. Product Positions/Portfolio
13.8.4. Recent Development
13.8.5. SWOT Analysis
13.9. FARO Technologies
13.9.1. Business Description
13.9.2. Financial Health and Budget Allocation
13.9.3. Product Positions/Portfolio
13.9.4. Recent Development
13.9.5. SWOT Analysis
13.10. Carl Zeiss
13.10.1. Business Description
13.10.2. Financial Health and Budget Allocation
13.10.3. Product Positions/Portfolio
13.10.4. Recent Development
13.10.5. SWOT Analysis
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