IMPACT OF DRIVERS ON THE SURFACE INSPECTION MARKET

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Surface Inspection Market by Component, Surface Type (2D and 3D), System (Computer-based and Camera-based), Deployment Type (Traditional Systems and Robotic Cells), Vertical, and Geography (2021-2026)

The surface inspection market is projected to grow from USD 3.5 billion in 2021 to USD 5.3 billion by 2026; it is expected to grow at a CAGR of 8.6% during the forecast period. The Increase in demand of electrical and electronic devices is providing growth for surface inspections.

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High-performance and innovative inspection systems are required to fulfill quality standards in the electrical and electronics industries. The electrical and electronics industry requires inspection systems for the detection of defects in circuit boards, wafer inspection, optical line-width measurement, magnetic disk drive head inspection, and inspection of printed and flexible electronics (displays). Owing to COVID-19, the surface inspection market faced headwinds for 2019-2020. It is rather expected to start witnessing recovery in 2021-2022.

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Surface inspection market for automotive vertical expected to grow at highest CAGR during forecast period

The automotive sector increasingly relies on highly effective surface inspection systems to prevent defects at various stages of production. Surface inspection systems capture various material and production-induced defects. Surface vision is used for inspecting defects in complex parts such as cylinder bores, crankcases, and cylinder heads, on flat components such as cylinder head gaskets, and also on printed electronics.

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Market for software expected to grow at highest rate during the forecast period

Software is the main component of the surface inspection system and contributes significantly to the cost of the system. Software drives the image acquisition, processing, and analysis functions.

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If the application is high-speed, requiring excellent image quality and generating a lot of image data, software with good processing power and memory capabilities is required.

HALCON and MERLIC are the two standard software products for machine vision designed by MVTEC Software (Germany). Integro Technologies (US) is a software integrator that creates and integrates software solutions to help manufacturers improve their machine vision inspection processes.

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Surface inspection market in APAC to witness highest CAGR during forecast period

APAC is expected to dominated the surface inspection market, during 2021-2026. in terms of value. In terms of volume also, APAC is expected to dominated the market throughout the forecast period. The surface inspection market in APAC is further expected to grow at the highest CAGR during the forecast period and dominate the market throughout the forecast period both in terms of value and volume. APAC is considered a major manufacturing hub in the world and expected to provide ample growth opportunities to the surface inspection market in this region.

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APAC to witness highest growth of Quantum Computing market during the forecast period

APAC region is a leading hub for several industries, including healthcare and pharmaceuticals, banking and finance, and chemicals. Countries such as China, Japan, and South Korea are the leading manufacturers of consumer electronics, including smartphones, laptops, and gaming consoles, in APAC. There is a requirement to resolve complications in optimization, simulation, and machine learning applications across these industries. The large-scale development witnessed by emerging economies of APAC and the increased use of advanced technologies in the manufacturing sector are contributing to the development of large and medium enterprises in the region. This, in turn, is fueling the demand for quantum computing services and systems in APAC.

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