Digital Imaging Market Outlook – 2027 

Digital imaging is the development of a digitally encoded image of an object's visual properties, such as a physical scene or an object's internal structure. Digital imaging systems are a full digitization solution tailored to rare and precious items of cultural heritage. Digital imaging is used by scholars and organizations from the digital humanities to digitize artifacts or precious items. 

The ability to create digital copies indefinitely without any loss of picture quality is one of the advantages of a digital image over an analog image. In addition, digital imaging provides ability to recreate the quality of partially damaged images, thereby removing the risk of modifying or damaging the original.

The global digital imaging market is segmented on the basis of technology, application, industry vertical, and region. Based on technology, the digital imaging market is divided into machine vision, metrology, radiography, and LiDAR. In terms of application, the market is categorized into inspection, reverse engineering, and surveying. On the basis of industry vertical, the market is divided into automotive, aerospace, oil & gas, energy & utility, manufacturing, construction, consumer electronics, food & beverages, and pharmaceutical. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global digital imaging industry include GE (US), Olympus (Japan), Hexagon (Sweden), Cognex (US), Nikon (Japan), OMRON (Japan), Ametek (US), Matrox (Canada), Teledyne Technologies (US), National Instruments (US), and Keyence (Japan). These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market. 

Top Impacting Factors

Growth of the market is due to the ability of digital imagery to increase customer data accessibility that allows businesses to accurately shape a company's research and development base. Factors such as technological advantage over traditional methods, increased need for industrial automation and increased consumer awareness raising safety and quality standards is expected create growth opportunities for digital imaging market. 

Inspection Application to Hold the Largest Share of the Market

The inspection application is projected to have a significant market share during the forecast period. Inspection is an important method for manufacturing industry quality assurance, such as the manufacture of automobiles, aerospace, machinery and semiconductors. Quality assurance is an integral part of any manufacturing process because it enables smooth operation of these processes without incurring any additional costs hence, driving the growth of global market.

Automotive Industry Contributes Significantly to the Digital Imaging Market

The automotive industry is one of the leading sector in the market as it focuses on high-value ideas along with cost cutting product. The digital imagery is required in process creation phases, qualification processes, and production processes. Rising adoption of industry 4.0 in automotive sector to make the processes more efficient through timely detection of flaws is expected to driving the growth digital imaging market.

Asia-Pacific to Hold the Largest Share of the Market

In Asia-Pacific, the market is anticipated to grow at the highest CAGR during the forecast period, owing to advances in economic growth, infrastructural developments, and power plant construction, which are expected to boost digital imaging growth. Strong demand growth in Asia-Pacific can also be attributed to massive expansion and modernization of infrastructure in manufacturing industries in countries such as India and China. Countries in Asia-Pacific are active in defense aircraft production, which is expected to expand penetration of digital imaging in the aerospace and defense industries

Implementation of the digital imaging technology in photo sharing integrated cameras equipped with Wi-Fi is the major trend for market.  The Internet itself is encouraging the development of digital imaging in the years to come. On the other side, drones equipped with digital imaging technology are introduced to the planet to provide unique pictures or videos which are special. The camera-equipped drones do have the capability to provide spherical images of 360 degrees.

Key Benefits of the Report

• This study presents the analytical depiction of the global digital imaging market forecast along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global digital imaging market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global digital imaging market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global digital imaging market analysis based on competitive intensity and how the competition will take shape in coming years. 

Market Scope and Structure Analysis

COVID-19 Scenario Analysis

• Global market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors. 
• Global factories have struggled to integrate new digital imaging equipment as workers have stayed in their homes, which disrupted the global supply chains. 
• The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for digital imaging are gradually going to increase.  
• This COVID-19 lockdown would help companies think about more advanced digital imaging to enhance efficiency.

Digital Imaging Market Key Segments

Questions Answered in the Digital Imaging Market Research Report

• Which are the leading market players active in the digital imaging market?
• What would be the detailed impact of COVID-19 on the digital imaging market size?
• How current digital imaging market trends would influence the industry in the next few years?
• What are the driving factors, restraints, and opportunities in the global market?
• What are the projections for the future that would help in taking further strategic steps?