Surface Inspection Industry worth $5.9 billion by 2028
(I-BusinessNews.Com, January 25, 2023 ) The global surface inspection market is projected to grow from USD 4.0 billion in 2023 to USD 5.9 billion by 2028, growing at a CAGR of 7.8%. The substantial growth in remuneration across various countries and the adoption of high-performance and innovative inspection systems to fulfill quality standards in the electrical and electronics industries are some key factors driving the growth of the surface inspection market.
The automotive industry accounted for the largest share of the surface inspection market in 2022. The automotive industry requires surface inspection of complex parts, such as cylinder bores and crankcases, and reflective painted parts, which are difficult to inspect with the human eye. Surface inspection systems are also required for areas inaccessible to humans and applications that cause health hazards.
The market for the software segment is expected to grow at the highest CAGR during the forecast period. Software is the main component of surface inspection systems and contributes a significant share of the overall cost. Software drives image acquisition, processing, and analytical functions. 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. If the application is not advanced, embedded systems can fulfill the need. The technical support from the company for the software is also important, even if it is easy to use with robot cells and 3D systems, increasing their foothold in the surface inspection market. The need for developments in software is increasing to avoid costly downtimes.
Asia Pacific is expected to hold the largest share of the surface inspection market in 2023. Increasing investments in automation by automotive and electrical & electronics companies, especially in China, South Korea, and India, is expected to be the key driver for the market in Asia Pacific. Hence, with automation, the growing demand from automotive, semiconductor, electrical & electronics, and food & packaging industries in Asia Pacific is expected to drive the surface inspection market during the forecast period.
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