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Allied Market Research

Digital Imaging Market By Technology (Machine Vision, Metrology, Radiography, and LiDAR), Application (Inspection, Reverse Engineering, and Surveying), and Industry Vertical (Automotive, Aerospace, Oil & Gas, Energy & Utility, Manufacturing, Construction, Consumer Electronics, Food & Beverages, and Pharmaceutical): Global Opportunity Analysis and Industry Forecast, 2020–2027

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Aug 2021 | 747 Views
   
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COVID-19

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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

Report Metric

Details

Market Size Available For Years

2020-2027

Base Year Considered

2019

Forecast Period

2020-2027

Forecast Units

Value (USD)

Segments Covered

Technology, Application, Industry Vertical, and Region

Regions Covered

North America (Canada, Mexico, and U.S.), Europe (France, Germany, UK, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and Rest of Asia-Pacific), LAMEA (Africa, Latin America, and Middle East)

Companies Covered

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)

 

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

Segments

Sub-Segments

Technology

  • Machine Vision
  • Metrology
  • Radiography
  • LiDAR

Application

  • Inspection
  • Reverse Engineering
  • Surveying

Industry Vertical

 

 

 

 

 

  • Automotive
  • Aerospace
  • Oil and Gas
  • Energy and Utility
  • Manufacturing
  • Construction
  • Consumer Electronics
  • Food and Beverages
  • Pharmaceutical

 

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?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

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  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
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AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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