Surface vision and inspection systems provides support to the manufacturing companies to increase process accuracy, productivity, and also curtail cost. Hardware and software used in these systems process, analyse, and measure various characteristics in minute detail and help in deriving meaningful evaluations. This inspection process is a very accurate electronic replacement for manual inspection processes. Surface vision & inspection equipment helps to maintain mandatory standards and regulations in processes such as drug synthesis and label tracking, set up by the Food and Drug Administration (FDA) and several other national institutions, in medical and pharmaceutical industries.
Market Scope and Structure Analysis
Increase in demand for quality assurance and automation technology, rise in wages in different countries, and improvements in vision technology and expansion in industrialisation drive the growth of the market. The objective of the report is to describe, define, and forecast the surface inspection component, deployment type, surface type, system, vertical, and region. The growing need to adopt better manufacturing production capacity and most importantly at a reduced cost, increasing demand for qualitative products, increasing adoption of Industry 4.0 and IoT are some of the noteworthy factors that are influencing the growth of the market. However, the shortage of skilled labour is limiting the market growth.
COVID-19 Impact analysis
- COVID-19 pandemic has shut down the production of various products in the Surface Vision and Inspection industry attributed to the lockdown in countries worldwide. This has hampered the growth of Surface Vision and Inspection market from the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of Surface Vision and Inspection market in the first quarter of 2021 and is anticipated to cause a negative impact on the market growth throughout the year.
- The major demand for Surface Vision and Inspection was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for Surface Vision and Inspection.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Surface Vision and Inspection manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans.
- Surface Vision and Inspection market are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19.
Top Impacting Factors
An upsurge in demand for robot-based inspection systems, particularly for collaborative robots is the main opportunity as currently, surface inspection systems are being integrated with robots, which enhance speed of the process, reduce cost, and reduce human errors. Another opportunity includes rise in interest in industrial internet of things (IIoT). IIOT provides connectivity between various machines in a manufacturing site. Due to this connectivity, surface inspection systems can analyse defects better and go one step further in finding the cause of the defect. IIoT will enable a future without machine downtime, zero inefficiencies, and more affordable products. . Global manufacturers from the region are shifting their base of operation to emerging countries of Asia-Pacific region to benefit from lower labour wages. The market for surface vision & inspection industry in Asia-Pacific is expected to witness significant growth over the forecast period. This growth can be attributed to several factors such as increasing investments in assembly line automation and rising level of manufacturing activities. The Surface Vision & Inspection Equipment Market is highly competitive and is currently under the domination of a few players with their technological expertise. The global market for surface vision & inspection equipment is expected to be consolidated in nature. Major players with a noticeable share in the market are focusing on enlarging their customer base across foreign countries by giving importance to acquisitions and strategic collaborative initiatives to grow their market share and their profitability at a considerable rate.
- Key players in the market are contributing advanced vision systems that are able to capture high-quality images which can spot hairline variations which are even caused by reflections of light. For instance, the imaging solution offered by Radiant Vision Systems uses CCD calibrated cameras to capture a scratched aluminium surface. Highly advanced imaging technology and sophisticated algorithms were used to trace and describe the defects on device surfaces.
- Launching new and advanced products in the market is also a game changer business strategy to win the competitive markets. For instance, on January 2019 - Omron launched VT-M121, a 2D dimension and visual inspection machine that is expected to perform simultaneous dimension and visual inspection to detect scratches and cracks on products.
- Diversification is a growth strategy that involves entering into a new industry - one that the business doesn't currently operate. ISRA has a diversified business catering to various industries such as paper, metal, glass, food, healthcare, and automobile. It is one of the few companies making products according to Industry 4.0 standards. ISRA also has a plan to broaden its portfolio for metal industry customers. In the glass industry, the company wants to make its place stronger in float glass and smart touch device inspection. The company will be broadening up its activities related to the recently introduced connected photovoltaics 4.0 technology. It also plans to strengthen the core European and American markets. ISRA can foray into making customizable systems to suit myriad applications. The company should ensure their software is easy to change, considering the fast-changing needs of the market.
Key Benefits of the Report
- This study presents the analytical depiction of the Surface Vision and Investigation market 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 Surface Vision and Investigation market share.
- The current market is quantitatively analysed to highlight the Surface Vision and Investigation market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed Surface Vision and Investigation market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Surface Vision and Investigation Market Report
- Who are the leading global players in the “Surface Vision and Investigation” Market?
- What are the current trends and predicted trends?
- What is “Surface Vision and Investigation”?
- What is “Surface Vision and Investigation” Market prediction in the future?
- What are the challenges faced in the “Surface Vision and Investigation” Market?
- What are the driving factors and opportunities in the market?
- What are the key benefits of the “Surface Vision and Investigation” Market report?
Surface Vision and Investigation Market Report Highlights
By Component type
Key Market Players
Daitron Inc., Edmund Scientific Corporation,, Panasonic Corporation,, AMETEK Surface Vision,, Matrox Imaging Ltd.,, Cognex Corporation,, Omron Corporation,, Isra Vision AG,, Shenzhen Sipotek Technology Co., Ltd.,, Keyence Corporation,