Digital Imaging Market by Technology (Machine Vision, Metrology, Radiography, and LiDAR), Application (Inspection, Reverse Engineering, and Surveying), Industry (Automotive, Aerospace, Oil & Gas), and Geography - Global Forecast to 2023
[166 Pages Report] The digital imaging market was valued at USD 14.33 billion in 2017 and is expected to reach USD 24.08 billion by 2023, at a CAGR of 8.81% during the forecast period. Factors driving the growth of the market include technological advantage over traditional methods, growing need of industrial automation, and increasing consumer awareness raising the bar of safety and quality standards.
The objectives of the study are as follows:
- To define, describe, and forecast the global market, in terms of value, segmented on the basis of technology, application, industry, and geography
- To forecast the market size, in terms of value, into 4 main regions North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
- To strategically analyze the micromarkets1 with regard to the individual growth trends, prospects, and contribution to the market
- To provide detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for leaders in the market
- To provide a detailed overview of the value chain pertaining to the digital imaging industry
- To analyze competitive developments such as expansions, mergers and acquisitions, and product launches and developments, along with research and development (R&D) activities in the market
- To strategically profile key players in the market and comprehensively analyze their market ranking and core competencies.
Years considered for this report:
- Base year: 2017
- Estimated year: 2018
- Projected year: 2023
- Forecast period: 20182023
In the complete market engineering process, both top-down and bottom-up approaches, along with several data triangulation methods, have been used to estimate and validate the size of the market and other dependent submarkets. The key players in the market have been determined through primary and secondary research. This entire research methodology involves the study of the annual and financial reports of top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) into the digital imaging market.
To know about the assumptions considered for the study, download the pdf brochure
The digital imaging market ecosystem comprises players such as GE (US), Olympus (Japan), Hexagon (Sweden), Cognex (US), Nikon (Japan), OMRON (Japan), Ametek (US), Matrox (Canada), Teledyne Technologies (US), National Instruments (US), and Keyence (Japan).
Key target audience:
- Raw material suppliers
- Component designers, manufacturers, and suppliers
- Original equipment manufacturers (OEMs)
- System integrators
- Technology, software, service, and solution providers
- Intellectual property (IP) core and licensing providers
- Suppliers and distributors
- Rental equipment providers
- Trainers and consultants
- Government bodies, such as regulating authorities and policymakers
- Forums, alliances, and associations
- Technology investors
- Research institutes and organizations
- Analysts and strategic business planners
- Market research and consulting firms
This study answers several questions for stakeholders, primarily which market segments to focus in the next 25 years (depending on the range of forecast period) for prioritizing their efforts and investments.
Report Scope:
Market Segmentation: The market in this report has been segmented into the following segments.
-
Digital Imaging Market BY Technology:
- Machine Vision
- Metrology
- Radiography
- LiDAR
-
Digital Imaging Market BY Application:
- Inspection
- Reverse engineering
- Surveying
-
Digital Imaging Market BY Application:
- Oil & Gas
- Aerospace
- Automotive
- Power Generation
- Machinery
- Public Infrastructure
- Consumer Electronics
- Semiconductor Fabrication
- Food & Beverages
- Pharmaceutical
- Geographic Analysis:
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- Rest of APAC
- RoW
- Middle East
- Africa
- North America
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the market.
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for the report.
Product Analysis
- Product matrix - Gives a detailed comparison of product portfolio of each company
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Get more insight on other verticals ofReports & Consulting
The digital imaging market is expected to grow from USD 15.79 billion by 2018 to USD 24.08 billion by 2023, at a CAGR of 8.81% during the forecast period. Factors driving the growth of the market include technological advantage over traditional methods, growing need of industrial automation, and increasing consumer awareness raising the bar of safety and quality standards.
The inspection application is expected to hold the largest share of the market by 2018. Inspection forms an important tool for quality control in the manufacturing industries, such as automotive, aerospace, machinery, and semiconductor fabrication. Quality control is an integral part of any production process as it allows these processes to run smoothly without incurring any extra cost.
The automotive industry is also a major contributor to the market, as it is focusing on high-value propositions, along with cost reductions. Digital imaging is required in process development phases, production processes, and qualification processes in the automotive industry. This industry is expected to hold the largest share of the market by 2018, and the market for this segment is projected to grow at the highest CAGR during 20182023. The widening adoption of industry 4.0 for making the processes more efficient through timely flaw detection is driving the growth of the digital imaging market for the automotive manufacturing industry.
APAC is expected to hold the largest share of the digital imaging market by 2018, and the market in this region is expected to grow at the highest CAGR during forecast period, owing to . Advancements in terms of economic growth, infrastructural developments, and construction of power plants are expected to boost the growth of the digital imaging. The high growth of the market in APAC can also be attributed to the major infrastructural expansion and automation in manufacturing industries in countries such as India and China. Countries in APAC are involved in the manufacturing of defense aircraft, which is expected to increase the scope of digital imaging in the aerospace & defense industry
Though in the long term, digital imaging and inspection provide an assured return on investment regarding the durability of complex machinery, the deployment cost of these systems is currently beyond limits for some of the industry minors due to their high costs. The average selling price (ASP) of some of the digital imaging system is in the range of few thousand dollars to hundreds of thousand dollars, which includes the R&D expense for the continuous advancements in the technology.
The digital imaging market ecosystem includes major players such as GE (US), Cognex US), Olympus (US), Hexagon (Sweden), and Nikon (Japan).
GE is the leader in the market. GE provides innovative technologies including sensor-based measurement solutions, advanced software, asset condition monitoring systems, controls, inspection technologies, and radiation measurement solutions for the industrial and commercial applications as well as for the military and aerospace sector. GE is one of the globally leading brands and has a wide geographic reach on the back of various distribution networks, which helps it capture a significant market share worldwide. The company is applying digital capabilities not only to its own business but also to its customers. For the digital imaging market, the company provides a full suite of NDT solutions and equipment, including radiography, CT, remote visual inspection, ultrasound, eddy current, and hardness testing products. It has been mainly adopting the organic growth strategy of product launches and expansions to grow in this market. For instance, in March 2017, GE Oil & Gas launched the TransPort PT900 Portable Ultrasonic Flow Meter, a clamp-on meter for liquid flow measurement. It has an app-driven user interface on an Android tablet.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of Study
1.2 Definition
1.3 Scope of Study
1.3.1 Market Scope
1.3.2 Years Considered for Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primaries
2.1.3 Secondary and Primary Research
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Ranking Estimation
2.4 Market Breakdown and Data Triangulation
2.5 Research Assumptions
3 Executive Summary (Page No. - 29)
4 Premium Insights (Page No. - 35)
4.1 Attractive Market Opportunities in Market
4.2 Comparative Account of Growth Pattern of Market, By Application
4.3 Market in APAC, By Country & Industry (2017)
4.4 Market Shares of Major Countries in Market, 2017
4.5 Market, By Technology, 2018 vs 2023
5 Market Overview (Page No. - 40)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advantage Over Traditional Methods
5.2.1.2 Growing Need for Industrial Automation
5.2.1.3 Increasing Consumer Awareness Raising the Bar of Safety and Quality Standards
5.2.2 Restraints
5.2.2.1 High System and Deployment Cost
5.2.3 Opportunities
5.2.3.1 Trend of Product Miniaturization in the End-User Industries
5.2.3.2 Growing Industrialization in Developing Economies
5.2.4 Challenges
5.2.4.1 Lack of Skilled Workforce
5.3 Value Chain Analysis
6 Digital Imaging Market, By Technology (Page No. - 49)
6.1 Introduction
6.2 Machine Vision
6.3 Metrology
6.4 Radiography
6.4.1 X-Ray Testing
6.4.2 Gamma-Ray Testing
6.4.3 Computed Radiography
6.4.4 Film Radiography
6.4.5 Direct Radiography (Real-Time)
6.5 LiDAR
7 Digital Imaging Market, By Application (Page No. - 62)
7.1 Introduction
7.2 Inspection
7.3 Reverse Engineering
7.4 Surveying
7.4.1 Corridor Mapping
7.4.2 Engineering
7.4.3 Exploration
7.4.4 Urban Planning
7.4.5 Cartography
8 Digital Imaging Market, By Industry (Page No. - 70)
8.1 Introduction
8.2 Automotive
8.3 Aerospace
8.4 Consumer Electronics
8.5 Semiconductor Fabrication
8.6 Machinery
8.7 Oil & Gas
8.8 Power Generation
8.9 Public Infrastructure
8.10 Food & Beverages
8.11 Pharmaceutical
9 Geographic Analysis (Page No. - 94)
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Italy
9.3.5 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 South Korea
9.4.4 India
9.4.5 Rest of APAC
9.5 Rest of the World
9.5.1 Middle East
9.5.2 Africa
10 Competitive Landscape (Page No. - 116)
10.1 Overview
10.2 Market Ranking Analysis
10.3 Competitive Scenario
10.3.1 Product Launches
10.3.2 Acquisitions
10.3.3 Contracts, Collaborations, Partnerships, and Expansions
11 Company Profiles (Page No. - 123)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
11.1 Introduction
11.2 Key Players
11.2.1 General Electric
11.2.2 Olympus Corporation
11.2.3 Hexagon AB
11.2.4 Cognex Corporation
11.2.5 Ametek
11.2.6 Nikon Corporation
11.2.7 Teledyne Technologies
11.2.8 Omron Corporation
11.2.9 Matrox Electronic Systems
11.3 Other Key Players
11.3.1 National Instruments Corporation
11.3.2 Keyence Corporation
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
12 Appendix (Page No. - 158)
12.1 Insights of Industry Experts
12.2 Discussion Guide
12.3 Knowledge Store: Marketsandmarkets Subscription Portal
12.4 Introducing RT: Real-Time Market Intelligence
12.5 Available Customizations
12.6 Related Reports
12.7 Author Details
List of Tables (76 Tables)
Table 1 List of Major Secondary Sources
Table 2 Primary Interviews With Experts
Table 3 Digital Imaging Market, By Technology, 20182023 (USD Million)
Table 4 Market for Machine Vision, By Application, 20152023 (USD Million)
Table 5 Market for Machine Vision, By Industry, 20152023 (USD Million)
Table 6 Market for Machine Vision, By Region, 20152023 (USD Million)
Table 7 Market for Machine Vision, By Type, 20152023 (USD Million)
Table 8 Market for Metrology, By Application, 20152023 (USD Million)
Table 9 Market for Metrology, By Industry, 20152023 (USD Million)
Table 10 Market for Metrology, By Region, 20152023 (USD Million)
Table 11 Market for Radiography, By Application, 20152023 (USD Million)
Table 12 Market for Radiography, By Industry, 20152023 (USD Million)
Table 13 Market for Radiography, By Region, 20152023 (USD Million)
Table 14 DigitMarket for LiDAR, By Application, 20152023 (USD Million)
Table 15 Market for LiDAR, By Industry, 20152023 (USD Million)
Table 16 Market for LiDAR, By Region, 20152023 (USD Million)
Table 17 Market for LiDAR, By Type, 20152023 (USD Million)
Table 18 Market, By Application, 20152023 (USD Billion)
Table 19 Market for Inspection, By Industry, 20152023 (USD Million)
Table 20 Market for Inspection, By Region, 20152023 (USD Million)
Table 21 Market for Reverse Engineering, By Industry, 20152023 (USD Million)
Table 22 Market for Reverse Engineering, By Region, 20152023 (USD Million)
Table 23 Market for Surveying, By Industry, 20152023 (USD Million)
Table 24 Market for Surveying, By Region, 20152023 (USD Million)
Table 25 Market, By Industry, 20152023 (USD Million)
Table 26 Market for Automotive, By Technology, 20152023 (USD Million)
Table 27 Market for Automotive, By Application, 20152023 (USD Million)
Table 28 Market for Automotive, By Region, 20152023 (USD Million)
Table 29 Market for Aerospace, By Technology, 20152023 (USD Million)
Table 30 Market for Aerospace, By Application, 20152023 (USD Million)
Table 31 Market for Aerospace, By Region, 20152023 (USD Million)
Table 32 Market for Consumer Electronics, By Technology, 20152023 (USD Million)
Table 33 Digital Imaging Market for Consumer Electronics, By Application, 20152023 (USD Million)
Table 34 Market for Consumer Electronics, By Region, 20152023 (USD Million)
Table 35 Market for Semicondictor Fabrication, By Technology, 20152023 (USD Million)
Table 36 Market for Semiconductor Fabrication, By Application, 20152023 (USD Million)
Table 37 Market for Semicondictor Fabrication, By Region, 20152023 (USD Million)
Table 38 Market for Machinery, By Technology, 20152023 (USD Million)
Table 39 Market for Machinery, By Application, 20152023 (USD Million)
Table 40 Market for Machinery, By Region, 20152023 (USD Million)
Table 41 Market for Oil & Gas, By Technology, 20152023 (USD Million)
Table 42 Market for Oil & Gas, By Application, 20152023 (USD Million)
Table 43 Market for Oil & Gas, By Region, 20152023 (USD Million)
Table 44 Digital Imaging Market for Energy & Power, By Technology, 20152023 (USD Million)
Table 45 Market for Energy and Power, By Application, 20152023 (USD Million)
Table 46 Market for Energy & Power, By Region, 20152023 (USD Million)
Table 47 Market for Public Infrastructure Vertical, By Technology, 20152023 (USD Million)
Table 48 Market for Public Infrastructure, By Application, 20152023 (USD Million)
Table 49 Market for Public Infrastructure, By Region, 20152023 (USD Million)
Table 50 Market for Food & Beverages, By Technology, 20152023 (USD Million)
Table 51 Market for Food & Beverages, By Application, 20152023 (USD Million)
Table 52 Market for Food & Beverages, By Region, 20152023 (USD Million)
Table 53 Market for Pharmaceutical, By Technology, 20152023 (USD Million)
Table 54 Market for Pharmaceuticals Vertical, By Application, 20152023 (USD Million)
Table 55 Market for Pharmaceutical, By Region, 20152023 (USD Million)
Table 56 Market, By Region, 20152023 (USD Million)
Table 57 Market in North America, By Country, 20152023 (USD Million)
Table 58 Market in North America, By Technology, 20152023 (USD Million)
Table 59 Market in North America, By Application, 20152023 (USD Million)
Table 60 Market in North America, By Industry, 20152023 (USD Million)
Table 61 Market in Europe, By Geography, 20152023 (USD Million)
Table 62 Market in Europe, By Technology, 20152023 (USD Million)
Table 63 Market in Europe, By Application, 20152023 (USD Million)
Table 64 Market in Europe, By Industry, 20152023 (USD Million)
Table 65 Market in APAC, By Country, 20152023 (USD Million)
Table 66 Market in APAC, By Technology, 20152023 (USD Million)
Table 67 Market in APAC, By Application, 20152023 (USD Million)
Table 68 Market in APAC, By Industry, 20152023 (USD Million)
Table 69 Market in RoW, By Region, 20152023 (USD Million)
Table 70 Market in RoW, By Technology, 20152023 (USD Million)
Table 71 Market in RoW, By Application, 20152023 (USD Million)
Table 72 Market in RoW, By Industry, 20152023 (USD Million)
Table 73 Ranking of Top 5 Players in Market, 2017
Table 74 Most Recent Product Launches in Market
Table 75 Most Recent Acquisitions and Partnerships in Market
Table 76 Most Recent Contracts, Collaborations, Partnerships, and Expansions in Market
List of Figures (45 Figures)
Figure 1 Digital Imaging Market: Research Design
Figure 2 Process Flow
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Market Breakdown & Data Triangulation
Figure 6 Assumptions of the Research Study
Figure 7 Market Snapshot (2018 vs 2023): Automotive Industry to Presents Huge Market Opportunities During Forecast Period
Figure 8 Market, By Industry: Market for Automotive and Aerospace Industries to Exhibit High CAGR During Forecast Period
Figure 9 Metrology to Hold Largest Size of Market Between 2018 and 2023
Figure 10 Inspection to Hold Largest Size of Market Between 2018 and 2023
Figure 11 APAC to Account for Largest Share of Market During Forecast Period
Figure 12 Increasing Demand for Digital Imaging Technologies for Product Quality Control to Drive Market Between 2018 and 2023
Figure 13 Market for Inspection to Grow at Highest CAGR During Forecast Period
Figure 14 China Held Largest Size of Market in APAC in 2017
Figure 15 US Accounted for Largest Share for Market in 2017
Figure 16 Metrology Expected to Occupy Largest Size of Market During Forecast Period
Figure 17 Growing Need for Industrial Automation Driving Market
Figure 18 Value Chain Analysis: Major Value Added During Component Suppliers and Original Equipment Manufacturers Phases
Figure 19 Metrology to Hold Largest Size of Market During Forecast Period
Figure 20 Inspection to Hold Largest Size of Market for Machine Vision During Forecast Period
Figure 21 Automotive to Account for Largest Size of Market for Metrology During Forecast Period
Figure 22 APAC to Hold Largest Size of Market for Radiography During Forecast Period
Figure 23 Ground-Based LiDAR to Hold Largest Size of Market for LiDAR During Forecast Period
Figure 24 Inspection to Hold Largest Size of Digital Inspection Market Between 2018 and 2023
Figure 25 Market for Automotive to Grow at Highest CAGR During Forecast Period
Figure 26 Metrology to Hold Largest Size of Market for Automotive During Forecast Period
Figure 27 Metrology to Account for Largest Size of Market for Aerospace During Forecast Period
Figure 28 North America to Hold Largest Size of Market for Oil & Gas During Forecast Period
Figure 29 APAC to Hold Largest Size of DigitMarket for Power Generation During Forecast Period
Figure 30 Geographic Snapshot: DigitaMarket
Figure 31 Attractive Growth Opportunities for Market From Various Industries in APAC Between 2018 and 2023
Figure 32 US to Hold Largest Share of North American Market Between 2018 and 2023
Figure 33 Snapshot of Market in Europe
Figure 34 APAC: Snapshot of Market
Figure 35 Snapshot of Market in RoW
Figure 36 Digital Imaging Companies Adopted Product Launches and Developments as Key Growth Strategies Between January 2015 and December 2017
Figure 37 Product Launch and Development as Key Strategies Adopted By Companies, 20152017
Figure 38 General Electric: Company Snapshot
Figure 39 Olympus Corporation: Company Snapshot
Figure 40 Hexagon AB: Company Snapshot
Figure 41 Cognex Corporation: Company Snapshot
Figure 42 Ametek: Company Snapshot
Figure 43 Nikon Corporation: Company Snapshot
Figure 44 Teledyne Technologies: Company Snapshot
Figure 45 Omron Corporation: Company Snapshot
Growth opportunities and latent adjacency in Digital Imaging Market