According to Technavio’s latest market research study, the global inspection cameras market is expected to grow at a CAGR of approximately 10% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global inspection cameras market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
The top three revenue contributing product segments are discussed below:
Global inspection cameras market by automotive application: In automobiles, micro inspection cameras transmit the video to wireless cameras that allow the operator to view the components such as fuel tanks and combustion chambers that are otherwise difficult to reach and inspect. The increasing demand for automobiles during the forecast period is expected to increase the demand for inspection cameras from the automotive sector, resulting in market growth.
“The use of inspection cameras during the painting of vehicles proves to be more effective than manual inspection for the thickness or empty spots. As a result, inspection cameras are being adopted on a large scale in the automotive sector, which translates to growth of the inspection cameras market by the automotive sector,” says Chetan Mohan, a lead analyst at Technavio for research on semiconductor equipment.
Global inspection cameras market by electrical/electronics application: Inspection cameras have a range of applications in the electrical and electronics industry. One of their uses is in the manufacture of mobile phone batteries. Industry analysts at Technavio estimate the global inspection cameras market by electrical and electronics applications to account for a revenue of around USD 288 million by 2021.
Global inspection cameras market by semiconductor industry application: In the semiconductors segment, inspection cameras are used for wafer and mask inspection to improve the yield. The yield drives the cost in this market. Hence, the use of inspection cameras will increase in the semiconductor market.
The top vendors operating in the global inspection cameras market are:
- FLIR Systems
- Cognex Corporation
- Olympus Corporation
Other prominent vendors in the market include Fluke Corporation, Testo, and ifm electronic. The market includes many small vendors including Tais Imaging Systems Division, National Instruments, Ridgid, Milwaukee Tool, Leuze Electronic, Andor, Microscan, MICRO-EPSILON, Vision Research, Baumer, General Tools & Instruments, Vitronic, and Raptor Photonics.
A more detailed analysis is available in the Technavio report titled, ‘Global Inspection Cameras Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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