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The latest report by IMARC, titled “
Failure Analysis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 20232028
” finds that the global failure analysis market size reached US$ 4.4 Billion in 2022.
Failure analysis refers to the systematic process of investigating a part of a system to determine the root causes of failure and the corrective actions required to fix and prevent the future recurrence of the problem. It is generally performed using various techniques such as Focused Ion Beam (FIB), Energy Dispersive X-Ray Spectroscopy (EDX), Secondary Ion Mass Spectrometry (SIMS), and Broad Ion Milling (BIM).
It assists in identifying the physical, chemical, and machinal causes of the failure, preventing asset or product failures and avoiding financial losses and penalties from failed parts while improving future products and manufacturing processes. As a result, failure analysis is widely used across the automotive, oil and gas, defense, construction, and manufacturing sectors.
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The increasing product applications across various industries represent the primary factor driving the market growth. For instance, in the automotive sector, vision and artificial intelligence (AI)-based failure analysis tools are utilized for performance analysis, vehicle dynamics studies, and accident reconstruction. Besides this, it finds extensive applications in the oil and gas industry to enhance the efficiency of the existing machinery to prevent service failures and safety incidents. In addition, there has been a rise in the use of optical and scanning electron microscopes in material science applications for the mineralogical and structural analysis of materials, such as metals, polymers, alloys, biomaterials, and ceramics. In line with this, the growing utilization of FIB systems to study biological samples and biomaterials has augmented product demand.
Furthermore, the escalating demand for high-density, integrated and miniaturized devices in the semiconductor and electronics industry has accelerated the adoption of failure analysis. Apart from this, the implementation of stringent safety rules and regulations by international organizations and governing agencies of numerous countries has propelled the market growth. Other factors, including the significant expansion in the manufacturing sector, rapid industrialization, increasing focus on nanotechnology, rising automation across various industries, and continual technological advancements, are also providing a positive impact on the market growth. Looking forward, IMARC Group expects the market value to reach US$ 7.1 Billion by 2028, expanding at a CAGR of 8% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Equipment Insights:
• Scanning Electron Microscope (SEM)
• Focused Ion Beam (FIB) System
• Transmission Electron Microscope (TEM)
• Dual Beam System
• Others
Technology Insights:
• Energy Dispersive X-Ray Spectroscopy (EDX)
• Secondary Ion Mass Spectrometry (SIMS)
• Focused Ion Beam (FIB)
• Broad Ion Milling (BIM)
• Relative Ion Etching (RIE)
• Scanning Probe Microscopy (SPM)
• Others
End Use Insights:
• Automotive
• Oil and Gas
• Defense
• Construction
• Manufacturing
• Others
Regional Insights:
• North America
• United States
• Canada
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa
Competitive Landscape with Key Players:
• A&D Company Ltd
• Bruker Corporation
• Carl Zeiss AG (Carl-Zeiss-Stiftung)
• Hitachi High-Technologies Corporation (Hitachi Ltd.)
• Horiba Ltd.
• Intertek Group PLC
• JEOL Ltd.
• Motion X Corporation
• Tescan Orsay Holding A.S.
• Thermo Fisher Scientific Inc.
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