Inspection Machines Market to Reach $2 Billion by 2030
Meticulous
Research®—a
leading global market research company, published a research report titled, ‘Inspection Machines Market by
Offering (Hardware, Software), Automation Mode (Automatic Inspection,
Semi-automatic Inspection, Manual Inspection), End User (Pharmaceutical and
Biotech, Food and Beverages), and Geography - Global Forecast to 2030.’
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Free Sample report here: https://www.meticulousresearch.com/download-sample-report/cp_id=2571?utm_source=blog&utm_medium=social+&utm_campaign=product&utm_content=05-01-2024
The
global inspection machines market is projected to reach $ 2 billion by
2030, at a CAGR of 7.5% from 2023 to 2030. The growth of this market is
attributed to the increasing government focus on food safety, increasing
R&D expenditure in the pharmaceutical & biotech sector, increasing
inspection checkpoints throughout production and stringent policies to maintain
GMP compliance. However, the growing preference for refurbished inspection
machines due to the high cost of machines restrains the growth of this market.
The technological advancements in inspection machines and rising outsourcing of
manufacturing operations in emerging economies are expected to create
significant opportunities for this market. However, constantly changing
regulatory standards and complexities in integrating inspection machines pose
challenges to market growth.
The
global inspection machines market is segmented by offering, automation mode,
end user and geography. The study also evaluates industry competitors and
analyses the regional and country-level markets.
Key
Players:
The
key players profiled in the global inspection machines market study include
Thermo Fisher Scientific Inc. (U.S.), Teledyne Technologies Incorporated
(U.S.), Körber AG (Germany), Robert Bosch GmbH (Germany), Omron Corporation
(Japan), OPTEL GROUP (Canada), COGNEX Corporation (U.S.), BREVETTI CEA S.P.A
(Italy), ANTARES VISION S.p.A (Italy), ACG (Mumbai), IRIS Inspection Machines
(France), Sys-Tech Solutions, Inc. (U.S.), Laetus GmbH (Germany), Sea Vision
S.r.l. (Italy) and CMP PHAR.MA S.R.L. (Italy).
Based
on offering, the global inspection
machines market is segmented into hardware and software. In 2023, the hardware
segment is expected to account for the largest share of the global inspection
machines market. The large market share of this segment is mainly attributed to
the stringent regulations by authorities concerning the safety and quality of
products being manufactured and the need to avoid financial losses due to
packaging issues. Furthermore, rising regulatory compliance with good
manufacturing practices is contributing to the presence of major governmental
and non-governmental authorities to inspect the final products deployed in the
market by manufacturers, strengthening the growth of this segment.
Based
on automation mode, the global inspection
machines market is segmented into automatic inspection, semi-automatic
inspection and manual inspection. The automatic inspection segment is projected
to register the highest CAGR during the forecast period. As part of the zero-error
goal, the necessity to minimize particles and aesthetic flaws is expanding, and
technical improvements in this sector are expected to continue fueling the
market growth.
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Based
on end user, the global inspection
machines market is segmented into industrial manufacturing, pharmaceutical and
biotech, cosmetics & personal care, food and beverages, electronics &
semiconductor and other end users. In 2023, the food and beverages segment is
expected to account for the largest share of the inspection machines market.
The increasing disposable income of consumers and the growing population are
propelling global demand for food and beverage products. To protect the food
quality and curb the rising number of food-borne diseases, the governments of
several countries have enforced stringent regulations. This has pushed food and
beverage processing companies to deploy inspection machines, fueling the growth
of this segment.
Based
on geography, the global inspection machines
market is segmented into North America, Europe, Asia-Pacific, Latin America,
and the Middle East & Africa. In 2023, North America is expected to account
for the largest share of the inspection machines market. The large market share
of this segment is attributed to the favorable initiatives taken by the key
market players coupled with research studies to cater to the growing demand for
inspection machines. For instance, in January 2021, Cognex Corporation (U.S.),
the leader in industrial machine vision, introduced the In-Sight 3D-L4000
embedded vision system featuring 3D laser displacement technology to allow
engineers to solve a range of inspections quickly, accurately, and
cost-effectively on automated production lines. Additionally, in October 2021,
AMETEK, Inc. (U.S.) launched performance services to enhance inspection
systems, reduce downtime and maximize return on investment. Similarly, in May
2021, ABM Equipment Co. Inc. (U.S.) introduced PXT, a mix of improved detector
boards, generators, and algorithms that improve detectability across the board,
making stainless steel detectable at 0.3 mm in many products. Such initiatives
are expected to fuel the growth of this market in the future.
Key
Questions Answered in the Report:
· Which
are the high-growth market segments in terms of offering, automation mode, end
user and geography?
· What
is the historical market size for inspection machines across the globe?
· What
are the market forecasts and estimates for the period 2023–2030?
· What
are the major drivers, opportunities, and challenges in the global inspection
machines market?
· What
are the recent developments in the global inspection machines market?
· What
are the different strategies adopted by the major players in the market?
· What
are the key geographic trends, and which are the high-growth countries?
· Who
are the local emerging players in the global inspection machines market, and how
do they compete with other players?
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