Visual Inspection Market by Component (Hardware, Services, Software), Technology Type (3D Vision, AI-based Inspection, Camera-based Inspection), Application, Industry Vertical - Global Forecast 2024-2030
Description
Visual Inspection Market by Component (Hardware, Services, Software), Technology Type (3D Vision, AI-based Inspection, Camera-based Inspection), Application, Industry Vertical - Global Forecast 2024-2030
The Visual Inspection Market size was estimated at USD 5.63 billion in 2023 and expected to reach USD 6.01 billion in 2024, at a CAGR 6.95% to reach USD 9.02 billion by 2030.
Visual inspection is a critical and widely used method for assessing the quality, conformity, and integrity of products, materials, and infrastructure across various sectors. It involves systematically evaluating an item or structure using the naked eye or optical instruments such as magnifying glasses, microscopes, and cameras to identify surface defects, anomalies, and deviations from established standards or patterns. The visual inspection market is primarily driven by stringent quality control measures in the food & beverage and pharmaceutical industries, along with government initiatives supporting Industry 4.0 and robotic automation. However, limitations related to frequent maintenance and calibration of inspection systems and concerns surrounding false positives and negative occurrences in these systems may restrain growth. Market players are incorporating AI and ML technologies for precise defect detection and traceability. Furthermore, the rising popularity of 3D vision systems for accurate inspection presents additional potential by facilitating faster processing times, improved detection capabilities, and increased flexibility and adaptability to different production environments.
Regional Insights
Visual inspection has been widely adopted in industries, such as automotive manufacturing, aerospace engineering, pharmaceuticals, food processing, and electronics in the Americas. The region has witnessed an increased demand for technologically advanced inspection systems as companies strive to improve product quality while maintaining cost efficiency. In recent years, many American companies have focused on developing smart vision systems incorporating artificial intelligence (AI) and machine learning (ML) technologies to enhance their capabilities. Asia is anticipated to become a major market for visual inspection technology in the coming years due to rising investments in infrastructure development projects across China, India, Japan, South Korea, and Taiwan, among other countries. The production of visual inspection equipment is expected to rise in tandem with demand from major industries such as semiconductor manufacturing and electronics assembly. Moreover, foreign multinational corporations are expanding their presence in Asia-Pacific markets to cater to the rising end-user requirements. In Europe, visual inspection technology is well-integrated into numerous industries, given its strong legacy in advanced manufacturing methods and stringent quality control regulations. The region is home to several leading companies producing visual inspection systems as they are developing innovative solutions such as collaborative robots, intelligent cameras, and hyperspectral imaging for visual inspection.
Market Insights
Market Dynamics
The market dynamics represent an ever-changing landscape of the Visual Inspection Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Market Drivers
- Rise of Industry 4.0 and Robotic Automation Worldwide
- Stringent quality control measures taken by the food & beverage and pharmaceutical industries
- Limitations associated with frequent maintenance and calibration of inspection systems
- Integration of AI & ML technologies for effective defect detection and traceability
- Enhanced focus on visual inspection of civil infrastructure and buildings
- Concerns related to the occurrence of false positives & negatives
- Component: Advancements in visual inspection hardware to enhance detection qualities
- Technology Type: Rising popularity of machine vision to offer high-speed precision inspections
- Application: Extensive use of visual inspection for quality control to ensure product safety and customer satisfaction
- Industry Vertical: Need for visual inspection processes in compliance with regulatory standards in the pharmaceutical industry
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Visual Inspection Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Visual Inspection Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Wenglow Acquires AI Visual Inspection Company Deevio
The Wenglor Sensoric Group has acquired Deevio, a software developer specializing in automating visual inspections in production. This acquisition strengthens Wenglor's commitment to future-proof solutions such as AI and image processing.
Advantech Acquires North American Image Capturing Solution Provider BitFlow Aiming at the Global AI Vision Application Market
Advantech Co., Ltd. has acquired BitFlow Inc., a North American company specializing in high-end image acquisition and AI machine vision technology. This strategic move by Advantech Co., Ltd. aims to support and nurture the growth of BitFlow's market presence, expand its product range, and enhance its core technologies for high-speed image capture.
Telit Cinterion deviceWISE AI Streamlines and Refines Visual Inspection for Manufacturing with AI and Deep Learning
Telit Cinterion has introduced the deviceWISE AI Visual Inspection, a comprehensive solution designed to optimize quality control, productivity, and profitability in industries such as automotive and pharmaceuticals. With deviceWISE AI Visual Inspection, businesses can achieve higher operational efficiency, reduced errors, and increased customer satisfaction.
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Visual Inspection Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Visual Inspection Market, highlighting leading vendors and their innovative profiles. These include Aantares Vision Group, Advantech Co., Ltd., Baker Hughes Company, Basler AG, Brevetti CEA SpA, Carl Zeiss AG, Cognex Corporation, Emerson Electric Co., FARO Technologies, Inc., General Electric Company, Google LLC by Alphabet Inc., Hexagon AB, International Business Machines Corporation, Jekson Vision Pvt. Ltd., Keyence Corporation, KPM Analytics, Körber AG, Mettler Toledo International Inc., MISTRAS Group, Inc., Mitsubishi Electric Corporation, Mitutoyo Corporation, Nommas AI, Olympus Corporation, Omron Corporation, Ravin AI Ltd., Robert Bosch GmbH, Rolls Royce PLC, SGS S.A., Sick AG, Siemens AG, Stevanato Group S.p.A., Teledyne Technologies Incorporated, TKH Group NV, ViTrox Corporation, Wenglor Sensoric Group, and Wipotec GmbH.
Market Segmentation & Coverage
This research report categorizes the Visual Inspection Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Component
- Hardware
- Services
- Software
- Technology Type
- 3D Vision
- AI-based Inspection
- Camera-based Inspection
- Computer Vision
- Machine Vision
- Smart Cameras
- Application
- Assembly Verification
- Defect Detection
- Measurement & Metrology
- Packaging Inspection
- Quality Control & Assurance
- Sorting & Grading
- Surface Inspection
- Industry Vertical
- Aerospace & Defense
- Automotive
- Electronics & Semiconductors
- Food & Beverage
- Manufacturing
- Packaging
- Pharmaceuticals
- Retail & FMCG
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
Table of Contents
191 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Rise of Industry 4.0 and Robotic Automation Worldwide
- 5.1.1.2. Stringent quality control measures taken by the food & beverage and pharmaceutical industries
- 5.1.2. Restraints
- 5.1.2.1. Limitations associated with frequent maintenance and calibration of inspection systems
- 5.1.3. Opportunities
- 5.1.3.1. Integration of AI & ML technologies for effective defect detection and traceability
- 5.1.3.2. Enhanced focus on visual inspection of civil infrastructure and buildings
- 5.1.4. Challenges
- 5.1.4.1. Concerns related to the occurrence of false positives & negatives
- 5.2. Market Segmentation Analysis
- 5.2.1. Component: Advancements in visual inspection hardware to enhance detection qualities
- 5.2.2. Technology Type: Rising popularity of machine vision to offer high-speed precision inspections
- 5.2.3. Application: Extensive use of visual inspection for quality control to ensure product safety and customer satisfaction
- 5.2.4. Industry Vertical: Need for visual inspection processes in compliance with regulatory standards in the pharmaceutical industry
- 5.3. Market Trend Analysis
- 5.3.1. Extensive end-use and diverse landscape of established market players promoting innovation in visual inspection across the Americas
- 5.3.2. Demand for standardized real time monitoring systems for visual inspection in the pharmaceutical and FMCG sectors in Asia-Pacific region
- 5.3.3. Advance manufacturing companies requiring stringent quality control process necessitates the visual inspection in EMEA
- 5.4. Cumulative Impact of High Inflation
- 5.5. Porter’s Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
- 5.6. Value Chain & Critical Path Analysis
- 5.7. Regulatory Framework Analysis
- 6. Visual Inspection Market, by Component
- 6.1. Introduction
- 6.2. Hardware
- 6.3. Services
- 6.4. Software
- 7. Visual Inspection Market, by Technology Type
- 7.1. Introduction
- 7.2. 3D Vision
- 7.3. AI-based Inspection
- 7.4. Camera-based Inspection
- 7.5. Computer Vision
- 7.6. Machine Vision
- 7.7. Smart Cameras
- 8. Visual Inspection Market, by Application
- 8.1. Introduction
- 8.2. Assembly Verification
- 8.3. Defect Detection
- 8.4. Measurement & Metrology
- 8.5. Packaging Inspection
- 8.6. Quality Control & Assurance
- 8.7. Sorting & Grading
- 8.8. Surface Inspection
- 9. Visual Inspection Market, by Industry Vertical
- 9.1. Introduction
- 9.2. Aerospace & Defense
- 9.3. Automotive
- 9.4. Electronics & Semiconductors
- 9.5. Food & Beverage
- 9.6. Manufacturing
- 9.7. Packaging
- 9.8. Pharmaceuticals
- 9.9. Retail & FMCG
- 10. Americas Visual Inspection Market
- 10.1. Introduction
- 10.2. Argentina
- 10.3. Brazil
- 10.4. Canada
- 10.5. Mexico
- 10.6. United States
- 11. Asia-Pacific Visual Inspection Market
- 11.1. Introduction
- 11.2. Australia
- 11.3. China
- 11.4. India
- 11.5. Indonesia
- 11.6. Japan
- 11.7. Malaysia
- 11.8. Philippines
- 11.9. Singapore
- 11.10. South Korea
- 11.11. Taiwan
- 11.12. Thailand
- 11.13. Vietnam
- 12. Europe, Middle East & Africa Visual Inspection Market
- 12.1. Introduction
- 12.2. Denmark
- 12.3. Egypt
- 12.4. Finland
- 12.5. France
- 12.6. Germany
- 12.7. Israel
- 12.8. Italy
- 12.9. Netherlands
- 12.10. Nigeria
- 12.11. Norway
- 12.12. Poland
- 12.13. Qatar
- 12.14. Russia
- 12.15. Saudi Arabia
- 12.16. South Africa
- 12.17. Spain
- 12.18. Sweden
- 12.19. Switzerland
- 12.20. Turkey
- 12.21. United Arab Emirates
- 12.22. United Kingdom
- 13. Competitive Landscape
- 13.1. Market Share Analysis, 2023
- 13.2. FPNV Positioning Matrix, 2023
- 13.3. Competitive Scenario Analysis
- 13.3.1. Wenglow Acquires AI Visual Inspection Company Deevio
- 13.3.2. Advantech Acquires North American Image Capturing Solution Provider BitFlow Aiming at the Global AI Vision Application Market
- 13.3.3. Telit Cinterion deviceWISE AI Streamlines and Refines Visual Inspection for Manufacturing with AI and Deep Learning
- 13.3.4. Ravin Launches Its AI-Based Visual Inspection Tech In South Africa
- 13.3.5. Hexagon Accelerates Large Surface Inspection with New 3D Laser Scanner for Handheld and Automated Robotic Applications
- 13.3.6. Waygate and GE Aerospace's Technology Development
- 13.3.7. Siemens and Microsoft Drive Industrial Productivity with Generative Artificial Intelligence
- 13.3.8. Advantech's Expands its Operations and Service Center and Invests in a New Software R&D Center in India
- 13.3.9. KPM Analytics Acquires Food Focused AI Developer Smart Vision Works
- 13.3.10. Mitsubishi Electric to Launch Contact Image Sensor in New KD-CXF Series
- 13.3.11. Stevanato Group Collaborates with IL Group to Improve Safe Processing and Handling of Hazardous Injectable Drugs
- 13.3.12. Baker Hughes Acquires Qi2 Elements to Expand Inspection Solutions for Critical Energy Infrastructure
- 13.3.13. Advantech Launches the Pioneering All-in-One Machine Vision IPCs: AIIS-3411
- 14. Competitive Portfolio
- 14.1. Key Company Profiles
- 14.2. Key Product Portfolio
Pricing
Currency Rates
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