Inspection Machines Market Growth, Trends, Size, Revenue, Share, Challenges
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”. According to this report, 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, growing preferences for
refurbished inspection machines due to the high cost of machines restrain the
growth of the market.
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The technological advancements in
inspection machines and rising outsourcing of manufacturing operations in
emerging economies are expected to create significant opportunities for players
in 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.
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. However, the software segment is projected to register the highest
CAGR during the forecast period. The growth of this segment is driven by the
rising need for quality control and real-time monitoring to help companies
improve defect detection rates and reduce production costs. Software is used to
translate the inspection process by inspection machines for better quality
control, result displaying and keeping track of other related documents.
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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 to fuel the growth of this segment.
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. However, the pharmaceutical and biotech segment is projected
to register the highest CAGR during the forecast period. Within the
pharmaceutical sector, several regulatory agencies, such as the Food and Drug
Administration (FDA), European Medicines Agency, and the Pharmaceuticals and
Medical Devices Agency, carefully monitor manufacturers' compliance with
Current Good Manufacturing Practice (CGMP) regulations to ensure the quality of
drugs and medical devices. These regulations push pharmaceutical and biotech
manufacturers to strictly focus on the quality of goods with the help of
inspection machines, fueling the growth of this segment.
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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. However, Asia-Pacific is projected to register
the highest CAGR during the forecast period. The growth of this market is
attributed to the growing manufacturing activities in several industries,
including pharmaceutical and biotech, food and beverage, and cosmetics. The
growing demand for quality products from these industries creates potential
opportunities for the market. Furthermore, technologically strong countries
such as China, Japan, South Korea, Taiwan and India are expected to offer
lucrative growth opportunities in the near future.
Some of the key players operating in the
global inspection machines market are 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).
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