Market Research Future (MRFR) anticipates that the escalating demand from diverse industries can help the surface inspection market 2020 gain major grounds between 2016 and 2027 (appraisal period). We will provide COVID-19 impact analysis with the report.
Top Drivers and Main Deterrents
The surface inspection market largely benefits from the heavy investments in the semiconductor industry and the consequent surge in technological developments. Today’s customers prefer better quality and superior products, which compels the manufacturers to utilize creative surface inspection techniques in diverse application areas. Advanced solutions like machine vision or MV are used to review the product automatically to boost the efficiency of the production process.
Furthermore, manufacturers are increasingly deploying MVs for visual inspection processes that involve high magnification, high speed as well as repeatability of measurements. The surface inspection technology finds widespread use in the semiconductor industry for fabrication applications. The 3D vision technique has gained massive favor among several industries including semiconductor, solar cells, printing and automotive, which works in favor of the surface inspection market.
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The skyrocketing demand for robot-based inspection systems, particularly for collaborative robots, is viewed as a lucrative opportunity. The increasing integration of surface inspection systems with robots, to facilitate higher process speed, reduction in cost as well as human errors boosts the revenue growth in the market. The rising interest in IIoT or industrial internet of things is also considered to be a significant opportunity that can induce major market growth in the preceding years.
As per the impact analysis on covid-19, the semiconductor industry can note substantial revenue loss. The review of the short term impact suggests that the technology supply chain can take a long time to recuperate. The long-term impact of COVID-19 can be the economic disruption that can take years to recover. However, with a number of countries putting in efforts to achieve a Covid-19 breakthrough, the semiconductor industry and the surface inspection market can find some relief during the review period. More and more players are increasing their spending on R&D activities and are also proactively pursuing mergers and acquisitions (M&As) that can help them curb revenue losses incurred from distressed assets. The increasing automation across manufacturing industries can also result in high revenue generation in the surface inspection market over the coming years.
The segmental analysis of the surface inspection industry covers surface type, devices and application.
The surface types reviewed in the market study are 2D as well as 3D.
The device-based market segmentation includes optics, camera, processors, frame grabbers, and software among others.
The application areas of surface inspection technology are automotive, semiconductor, medical & pharmaceuticals, glass & metal, electronics, paper & wood, food & packaging, postal & logistics and more.
The Americas, Asia Pacific (APAC), the Middle East & Africa (MEA) and Europe are the prominent markets for surface inspection.
In terms of volume and value, the APAC market can make massive strides in the following years, s a result of the heightened demand from semiconductor and automotive industry. The growth of food and packaging and electrical & electronics industries in the region can also lead the surface inspection market to greater heights between 2016 and 2027. A huge number of international vendors are setting up their base in the region, in view of the low labor costs and the high availability of manpower. The region is one of the leading manufacturing hubs in the world, characterized by the existence of rapidly developing nations like India, Japan, South Korea and China, which facilitates the growth of the surface inspection systems market.
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In the Americas, the United States (U.S.) comprises an expansive industrial sector backed by the open investment policy, a technically brilliant workforce and the presence of well-developed infrastructure. The successful semiconductor and automotive industries in the region, which are the primary end-users in the surface inspection market, also help with revenue generation. Healthcare remains one of the prime end-use industries in the region, along with the IT industry, that provide strong backing to the surface inspection vendors when it comes to integration of artificial intelligence and similar technologies.
Notable competitors in the surface inspection market include Teledyne Technologies Inc. (U.S.), Omron Corporation (Japan), Toshiba Corporation (Japan), IMS Messsysteme GmbH (Germany), Panasonic Corporation (Japan), VITRONIC GmbH (Germany), AMETEK, Inc. (U.S.), ISRA VISION AG (Germany), Matrox Electronic Systems Ltd. (Canada), Micro scan Systems, Inc. (U.S.), and more.
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