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2021

Surface Inspection Market

Surface Inspection Market By Component (Camera, Processor, Frame Grabbers, Lighting Equipment, and Others), Surface Type (2D and 3D), System (Computer-Based System and Camera-Based System), and Industry Verticals (Consumer Electronics, Automotive, Electrical & Electronics, Healthcare, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2030

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Author's: Aishwarya Rajvaidya| Divyanshi Tewari | Vineet Kumar
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Surface Inspection Market Outlook - 2030

The global surface Inspection market share was $3.46 billion in 2020, and is projected to reach $7.25 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030. Surface inspection is a method of inspection of surface. It looks for discontinuities, cracks, and pinholes in the surface, which can be harmful for service life of the product. Surface inspection include use of angled lighting and smart cameras to accurately detect surface flaws and features.

Surface inspection systems or devices are used to inspect web products, coated surfaces, and complex materials such as display glasses of tablets and smartphones. It detects minute scratches, inclusions, or holes in products. In the coming years, the surface inspection industry is expected to generate moderate revenue with investments in development, research, and tests. However, the surface inspection market is reaching its maturing stage, and is expected to generate modest revenue for key players in the coming years.

Infographics_Surface-Inspection-Market-2021-2030

Surface inspection is largely carried out by automatic inspection systems, cameras, and sensors from the core. It adopted for many applications such as quality assurance, packaging check, error detection, and visual inspection. 

Surface Inspection Market
By Component
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Processor segment is projected as one of the most lucrative segments.

Factors such as rise in adoption of surface inspection in automotive sector and increase in demand for computer-based surface inspection systems are expected to drive growth of the market in the future. However, complex product design acts as major barrier and hampers the market growth. Furthermore, factors such as growth in demand from medical and pharmaceutical industries and increase in use of collaborative robots in surface inspection are expected to offer lucrative opportunities for growth of the market.

Segmentation

The surface inspection market is analyzed by component, surface type, system, industry verticals, and region. By component, the market is divided into camera, processor, frame grabbers, lighting equipment, and others. By surface type, it is divided into 2D and 3D. By system, it is bifurcated into computer-based system and camera-based system. By industry verticals, it is studied across consumer electronics, automotive, electrical & electronics, healthcare, manufacturing, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with its prominent countries.

Surface Inspection Market
By Surface Type
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3D segment is projected as one of the most lucrative segments.

Competitive Analysis 

The key players profiled in the report include Basler AG, Sony Corporation, Cognex Corporation, Omron Corporation, Allied Vision Technologies GmBh, Panasonic Corporation, ISRA Vision AG, Teledyne Technologies Incorporated, Keyence Corporation, Matrox Electronic Systems. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.

COVID-19 Impact Analysis 

The ongoing spread of COVID-19 has become one of the biggest threats to the global economy and is causing widespread concerns and economic hardship for consumers, businesses and communities across the globe. The “new normal” that includes social distancing and working from home has created challenges with daily activities, regular work, needs, and supplies, causing delayed initiatives and missed opportunities.

The COVID-19 pandemic has impacted the society and overall economy across the globe. The impact of this outbreak has grown day-by-day that affects the supply chain. This has created uncertainty in the stock market; decreased business confidence, slowed supply chain, and increased panic among customers. European countries under lockdown have suffered a major loss of business and revenue due to shutdown of manufacturing units in the region. Operations of production and manufacturing industries have been heavily impacted by the outbreak of COVID-19, which led to slowdown in growth of the market in 2020.

Surface Inspection Market
By System
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Computer Based System segment is projected as one of the most lucrative segments.

According to the surface inspection market trends, the COVID-19 pandemic has severely impacted the global manufacturing and industrial sectors as production facilities have stalled, which, in turn, led to significant demand in industries.

Emergence of COVID-19 has declined growth of the surface inspection market in 2020, and is estimated to witness slow growth till the end of 2021. Implementation of partial or complete lockdown across various countries globally is the prime reason for decline in growth rate of the market. As industries were temporarily shut, it reduced the need for maintenance from various industries.

Top Impacting Factors

Notable factors positively affecting the surface inspection market include growth in adoption of surface inspection in automotive sector and increase in demand for Computer-based surface inspection systems for surface defect inspection. However, complex product design hampers growth of the market. Furthermore, rise in demand from medical and pharmaceutical industries and increase in use of collaborative robots in surface inspection is expected to offer lucrative opportunities for the market growth in the coming years.

Surface Inspection Market
By Industry Vertical
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Healthcare segment is projected as one of the most lucrative segments.

Growing Adoption of Surface Inspection in Automotive Sector

Surface inspection systems have gained great popularity with development of programmable hardware processors and built-in image processing techniques, which have characteristics such as fast speed, high precision, low-cost and non-destructive features, improved productivity, and quality management. 

Defect detection on car bodies usually adopt an inspection program flow, which can perform image acquisition, fusion by collecting images of car bodies, image processing, and classification to detect and distinguish millimeter sized defects. Various vehicle inspection systems and techniques have been introduced with the aim for surface defect inspection. 

For instance, the system, developed by Ford Motor Company uses a moving structure made up of several light bars (high-frequency fluorescent tubes) and a set of cameras in fixed positions around the stationary car body can detect millimetric defects of 0.3 mm diameter or greater with different shapes that are very hard to detect, thus improving quality of manual inspection carried out.  Hence, growing adoption of surface inspection and surface inspection market opportunity in the automobile sector positively impacts the market growth and creating.

Complex Product Design

The major factor restraining growth of the global surface inspection market is the complex product design of the inspection system. These systems are a combination of cameras and illumination systems, coupled with some sophisticated image processing. A surface inspection system is setup typically through experimentation. Apart from analyzing different images from defective parts in the defect catalogue, users need to experiment with images of production parts to represent process variation. On the basis of these findings, a preliminary investigation from inspection experts is done, which typically reveals required setup. Moreover, installing such sophisticated system in a rough industrial environment, especially in metal industries is a complex task. All these factors are expected to affect growth of the market.

Surface Inspection Market
By Region
2030
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific would exhibit the highest CAGR of 10.5% during 2020-2030

Key Benefits for Stakeholders

  • This study comprises analytical depiction of the surface inspection market size, surface inspection market growth along with the current trends and future estimations to depict imminent investment pockets.
  • The overall surface inspection market analysis and market outlook is determined to understand the profitable trends to gain a stronger foothold. 
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The present surface inspection market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency. 
  • Porter’s five forces analysis illustrates the potency of the buyers and the sensor market share of key vendors.
  • The report includes the market trends, surface inspection market size and the surface inspection market share of key vendors.

Surface Inspection Market Report Highlights

Aspects Details
Surface Inspection Market By Component
By Component
  • Camera
  • Processor
  • Frame Grabbers
  • Lighting Equipment
  • Others
Surface Inspection Market By Surface Type
By Surface Type
  • 2D
  • 3D
Surface Inspection Market By System
By System
  • Computer Based System
  • Camera Based System
Surface Inspection Market By Industry Vertical
By Industry Vertical
  • Consumer electronics
  • Automotive
  • Electricals and Electronics
  • Healthcare
  • Manufacturing
  • Others
Surface Inspection Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe   (UK, Germany, France, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Surface Inspection Market By KEY PLAYERS
By KEY PLAYERS
  • Basler AG
  • Sony Corporation
  • Cognex Corporation
  • Omron Corporation
  • Allied Vision Technologies GmBh
  • Panasonic Corporation
  • ISRA Vision AG
  • Teledyne Technologies Incorporated
  • Keyence Corporation
  • Matrox Electronic Systems

Analyst Review

The surface inspection market is competitive, owing to strong presence of existing vendors. Surface inspection companies, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals as they have the capacity to cater to the market requirements. Competitive environment in the surface inspection market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by firms.

The surface inspection market holds a substantial scope for growth on a global scale. Recent discoveries and innovations have created vast opportunities for numerous players to step in the surface inspection market.

Increase in focus of manufacturing companies to improve customer retention by offering quality products and surge in demand for interoperability testing for connected devices and IoT drive the market growth. High cost of surface inspection services due to diverse standards and regulations across different regions is the biggest limitation for the market growth.

Surge in competition and reduced awareness among small scale manufactures are the key factors that hamper growth of the market. Increase in awareness for need of surface inspection and rise in concerns for safety and quality are the factors opportunistic for the surface inspection market growth.

 

Author Name(s) : Aishwarya Rajvaidya| Divyanshi Tewari | Vineet Kumar
Frequently Asked Questions?

The Surface Inspection Market is estimated to grow at a CAGR of 8.2% from 2021 to 2030.

The Surface Inspection Market is projected to reach $7.25 billion by 2030.

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Factors such as rise in adoption of surface inspection in automotive sector and increase in demand for computer-based surface inspection systems drives the growth of the Surface Inspection market

The key players profiled in the report include Basler AG, Sony Corporation, Cognex Corporation, Omron Corporation, Allied Vision Technologies GmBh, Panasonic Corporation, ISRA Vision AG, Teledyne Technologies Incorporated, Keyence Corporation, Matrox Electronic Systems, and many more.

On the basis of top growing big corporations, we select top 10 players.

The Surface Inspection Market is segmented on the basis of component, surface type, system, industry verticals, and region.

The key growth strategies of Surface Inspection market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.

subsegments of System are computer-based system and camera-based system.

Processor segment will grow at a highest CAGR of 11% during 2021 - 2030.

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Surface Inspection Market

Global Opportunity Analysis and Industry Forecast, 2020-2030