The global virtual inspection market is expected to display higher growth rate in the upcoming years due to increasing demand from end-use industries and development of virtual inspection enabling technologies. Availability of several deployment models for remote virtual inspection service is expected to drive the growth of virtual inspection market over the forecast period. Rise in number of market acquisitions, partnerships and collaboration efforts by industry participants, is leading to the robust industry growth over the past few years.
Virtual inspection services allows end-use industries to achieve operational efficiency during different manufacturing processes. Deployment of low cost strategy to implement virtual inspection and remote operation capabilities are anticipated to fuel market demand over the coming years. Growing adoption of virtual inspection services in aerospace industry to maximize the performance and quality of manufactured components, alongside ensuring their features as per their specifications are estimated to augment market demand in the upcoming years.
Virtual inspection systems containing machine vision audio\video cameras, analog to digital conversion systems, and digital signal processors are increasingly used in automotive industry and real estate industry. Other application of virtual inspection services include surface defect detection, surface auto-vision, and autonomous underwater vehicles. These factors are expected to boost the growth of virtual inspection market over the forecast period.
Rise in the use of virtual inspection services in healthcare sector for inspection of various medical equipment is projected to favor market growth over the forecast period. Common application of virtual inspection services in medical field include CT scanner inspections, MRI system inspections, PET/CT system inspections, linear accelerator inspections, and tom therapy or cyber knife system inspections.
The virtual inspection market is broadly categorized into six major segments based on the application type such as healthcare sector, automotive industry, aerospace sector, consumer electronics sector, real estate industry, and oil & gas industry. Healthcare segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of virtual inspection services in the healthcare segment is attributed to the rising market penetration and easy availability.
On the basis of regions, the virtual inspection market is divided into Germany, UK, Japan, India, China, France, United States, Canada, and Spain. In Germany, Spain, and UK, the virtual inspection industry is projected to observe a steady CAGR over the forecast period. Rising import & export activities in these regions are further fostering regional demand over the coming years.
The United States market has witnessed major growth during the past few years due the rapid industrialization and recent technological advancement in healthcare sector. Japan is anticipated to perceive substantial growth, which is attributed to growing production by regional companies including Panasonic Corp., and Toshiba Corp.
The key players in the virtual inspection market are METEK Ltd., Omron Corp., Panasonic Corp., Toshiba Corp., BST Eltromat International GmbH, Edmund Scientific Corp., Elbit Vision Systems Co., Electron Scientific industries, Inc., EPIC Systems Corp., and IMS Systems, Inc.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Virtual Inspection in these regions, from 2012 to 2023 (forecast), covering
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Columbia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Global Virtual Inspection market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including
• BST Eltromat International
• Edmund Optics
• Elbit Vision Systems
• Electron Scientific industries
• EPIC Systems
• IMS Systems
• ISRA Vision
• Konica Minolta
• Matrox Imaging
• Microscan Systems
On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into
• Other Equipment
On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Virtual Inspection for each application, including
• Oil and gas
Research Support Specialist, USA