A CAGR of 11.2% is expected for the surface vision and inspection equipment market in the forecast period (2021-2026). The market for surface vision and inspection equipment is highly competitive. The increasing need for better production capacities at lower costs, the growing demand for quality products, the increasing adoption of Industry 4.0 and IoT are some of the essential factors influencing the growth of the market, while the lack of skilled labor is limiting market growth.
– Surface vision and inspection systems help manufacturing companies to increase process accuracy and productivity and save money. Hardware and software used in these systems process, analyze and measure various characteristics in more detail and derive meaningful evaluations. This inspection process is a high-precision electronic replacement for manual inspection processes.
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The market for surface vision and inspection devices is highly competitive and is currently dominated by a few players with their technological know-how. The global surface vision and inspection equipment market is expected to consolidate. Key players with an outstanding market share are focused on expanding their customer base overseas by leveraging acquisitions and strategic collaboration initiatives to increase their market share and profitability. Omron Corporation, Cognex Corporation, Isra Vision AG, Panasonic Corporation, AMETEK Surface Vision, Edmund Scientific Corporation, Matrox Imaging Ltd., Shenzhen Sipotek Technology Co., Ltd., Keyence Corporation, and Daitron Inc are some of the major players in the current market.
– June 2019 – Mitutoyo Corporation acquires Linkwiz Inc., which develops and sells control system software with proprietary algorithms for industrial robots. L-QUALIFY is production line inspection software developed by Linkwiz Inc. that is being adopted by large corporations including automakers.
– January 2019 – Omron launches VT-M121, a 2D dimensional and visual inspection machine that is designed to perform dimensional and visual inspection at the same time to detect scratches and cracks on products.
– January 2019 – Matrox Imaging has added a new representative from New Midwestern US to its global network of distributors and integrators.
Major market trends
The camera segment is expected to have the largest market size in the forecast period
– Surface vision and inspection cameras are used for automatic surface inspections to maintain accurate quality control during the manufacture of goods. The camera segment holds the highest market share in 2018 and is expected to maintain its dominance over the forecast period as demand for high quality images, image processing and compactness increases.
– Digital sensors are embedded in industrial cameras with special optics. The performance of surface vision and inspection systems depends on the quality of the images captured by the cameras. High-quality images enable the system hardware and software to process, analyze and measure various features in greater detail and to derive meaningful evaluations. You could run evenness checks and identify defects that can go unnoticed by human inspectors, including hairline scratches on glass and foreign particles, subtle dents, or even fingerprints on device surfaces.
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North America is expected to have the largest market size over the forecast period
– North America is expected to hold the largest market size during the forecast period and dominate the surface vision and inspection equipment market. The examined market is dominated by companies in the USA, followed by companies in Europe and the Asia-Pacific region. Manufacturers invest in advanced technologies for surface vision and inspection systems to meet the standards of safety mandates and international quality.
– The automotive sector is one of the largest surface and inspection equipment markets in North America. OICA estimates that motor vehicle production in the region increased from around 15.8 million units to 17.4 million units between 2012 and 2018.
– R&D activities for image processing technology, industrialization, increasing focus on operational efficiency and product quality, increasing factory automation and safety-related mandates in the automotive industry are some of the factors driving the growth of the market.
Global manufacturers in the region are relocating their bases in emerging markets in the Asia-Pacific region to benefit from lower wages. The Asia Pacific Surface Vision & Inspection Industry market is expected to experience significant growth over the forecast period. This growth is due to several factors such as: B. increasing investments in the automation of assembly lines and increasing manufacturing activities.
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