Fault Detection and Classification (FDC) Market Size, Share & Trends

Fault Detection and Classification (FDC) Market Size, Share, Trends, Statistics and Industry Growth Analysis Report by offering type (Software, hardware, services), Application (Manufacturing, Packaging), end use (Automotive, Electronics & Semiconductor, Metal & Machinery) and Region - Global Forecast to 2028

Report Code: SE 8793 Sep, 2023, by marketsandmarkets.com

Fault Detection and Classification (FDC) Market Size & Growth

[257 Pages Report] The global fault detection and classification market size was valued at USD 4.4 billion in 2022 and is projected to reach USD 7.4 billion by 2028; it is expected to register a CAGR of 8.9% during the forecast period.  Stringent health and safety measures imposed by governments and standards organizations on global manufacturing firms and Strong focus of manufacturers on automating quality control and quality assurance processes are among the factors driving the growth of fault detection and classification industry .

Fault Detection and Classification (FDC) Market

Fault Detection and Classification (FDC) Market

Fault Detection and Classification (FDC) Market Statistics Forecast to 2028

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Fault Detection and Classification (FDC) Market Trends:

Driver: The increased complexity of systems

The rapid advancement of technology has led to increasingly complex systems across various industries. This complexity presents both opportunities and challenges, particularly in maintaining system reliability and efficiency. With increased complexity comes heightened challenges. Traditional manual monitoring and diagnosis no longer suffice, as the intricacies of these systems surpass human capacity. As systems become more intricate, the need for effective fault detection and classification (FDC) becomes paramount. FDC systems typically use a combination of sensors, data analytics, and machine learning algorithms to detect and classify faults. The sensors collect data from the system, which is then analyzed by the data analytics algorithms to identify any deviations from normal operating conditions. By continuously assessing data, these systems establish baselines for normal operation and identify deviations. Upon detecting anomalies, they employ classification algorithms to categorize faults, enabling swift responses.

The relentless rise in the complexity of modern systems necessitates innovative approaches to ensure their seamless functioning. Fault detection and classification systems stand as beacons of technological advancement, offering real-time monitoring, rapid fault identification, and informed decision-making. As industries embrace these solutions, they enhance their operational efficiency, safeguard their personnel and assets, and position themselves at the forefront of a future where complexity is not a challenge but an opportunity. In a world of intricate interconnections, FDC emerges as a cornerstone for sustained progress.

Restraint: Dearth of skilled professionals in manufacturing factories

In the manufacturing industry, there is a tremendous reliance on human experience and human senses. However, recently, the shortage of skilled professionals has become a more critical issue; therefore, automation of manufacturing, assembly, product testing and inspection, and transportation processes that depend on people has become an urgent task for businesses. On account of this, companies across industries embrace industrial automation with the growing use of fault detection and classification systems, machine vision systems, etc., to improve operational efficiency and performance, reduce waste and conserve natural resources, and reach new markets and audiences, but factories embracing machine vision technology would require more complex skill sets, and it could be difficult for lower/semi-skilled, less-educated workers to access opportunities.

Machine vision systems deployed to eliminate the defects require skilled professionals capable of deciphering machine signals on a dashboard and work together with collaborative robots on which machine vision systems are mounted.

Furthermore, economic growth largely depends on the productivity of the workforce. The current challenge is to promote lifelong learning, particularly among the elderly and economically active people. For example, China and Japan will face rapid population aging in the coming decades, necessitating the maintenance, and upgrading of a growing pool of mature and older workers, in addition to making further progress in formal education. Secondly, the growing younger generation will continue to strain both education and training capacities and job creation rates as more young people enter the job market. Young people with low skill levels are having difficulty finding work everywhere. In nearly every industry, there are now more open jobs than people looking for work. There are 1.06 job openings for every unemployed worker in the manufacturing industry. On average, 25% of workers in the manufacturing sector worldwide are underqualified.

Fault detection and classification systems with high-end and frequently changing features necessitate highly skilled individuals. An unskilled worker may be unable to carry out the operations and may impede the operation of the fault detection and classification system, resulting in false detection or a defect going undetected by the system. The shortage of skilled professionals can cause companies in various industries to shy away from fault detection and classification systems, proving a market restraint.

Opportunity: Increasing adoption of artificial intelligence (AI) technology

Quality control is one of the most important factors in manufacturing. Inspecting each product manually is costly, in terms of time and effort, creating bottlenecks caused by delayed production. In many cases, defects can be easily missed by the human eye or even by industry experts, resulting in decreased quality of an individual component or a defective final product that must be scrapped. Defect rates can often increase with more complex manufacturing systems. Recently, manufacturers have been focused on adopting advanced technologies, such as AI and deep learning, on transforming production processes and faster inspection of products and prompt detection of defects. The combination of software, use of deep learning technology, the power of parallel processing, and easy-to-use tools are core parameters of this transformation.

AI-based FDC tools/systems are superior to manual inspection in tracking products on the assembly lines, delivering significantly higher precision rates, enhanced product quality, increased productivity, higher throughput, and lower production costs. AI-based fault detection and classification systems used for quality control utilize machine learning technology so that defect prediction models can autonomously learn and make inferences from the manufacturer’s data. These models can shortlist important features and create new implicit rules to determine which combinations of features impact the overall product quality. Autonomous fault detection and classification systems deliver improved efficiency and accuracy, which constantly adjust to detect new types of defects across industries and verticals. Production yield and customer satisfaction largely depend on AI-based quality control for wide application areas ranging from nanometric semiconductors to huge engine parts of a commercial airplane. Traditional fault detection and classification systems cannot evaluate complex objects or products with high variations as easily as human operators; however, an AI-based fault detection and classification system can effortlessly find and compare defects with high variability.

AI-based fault detection and classification systems provide significant benefits to manufacturers:

  • Early error detection, preventing defective parts from moving down the production line
  • Increased production volume without sacrificing quality
  • Tracking historical data to pinpoint issues and improve future production processes
  • Optimized incoming material inspection
  • Reaching, and often surpassing, human-level accuracy

These technologies enable the development of sophisticated algorithms capable of learning from historical data and adapting to changing conditions. This leads to higher accuracy in fault detection and classification and reduces false positives.

Furthermore, various companies are heavily investing in R&D activities to offer innovative and technologically advanced products and solutions in the fault detection and classification market. For instance, in July 203, Microsoft collaborated with Birlasoft to Establish Generative AI Centre of Excellence, Shares Rebound After Announcement. Birlasoft will utilize Azure OpenAI Service features for product design, process optimization, quality and defect detection, predictive maintenance, and digital twins for the manufacturing sector

Challenge: Complexity in implementation of fault detection and classification solution and technologies

Increasing competition, growing instability in the business arena, and ongoing technological advancements necessitate to change the way manufacturing enterprises operate and expand their business. To achieve the aforementioned objectives, organizations need to accomplish seamless production. Fault detection and classification systems are used in a variety of applications, including manufacturing, healthcare, and packaging. Each application has its own quirks, and technological advancements add complexity to manufacturing processes on a daily basis. Fault detection and classification systems face the challenge of meeting the diverse and ever-changing needs of various applications. Whether it is a camera, an optics, software, or a frame grabber, versatile solutions can be quickly developed to tackle a wide range of tasks by using multipurpose components. The need of the hour is to simplify the integration process with regard to different components of fault detection and classification systems and the production lines at application sites. With increasing efforts being put into boosting the convenience of installing and handling all technical systems, players in the fault detection and classification market must look to address these requirements by coming up with plug-and-play solutions.

Fault Detection And Classification Market Ecosystem

 Prominent companies in this market include well-established, financially stable providers of fault detection and classification systems. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Keyence Corporation (Japan), Cognex Corporation (US), KLA Corporation (US), Teledyne Technologies (US), OMRON Corporation (Japan), Microsoft (US), Tokyo Electron Limited (Japan), Siemens (Germany), Amazon Web Services, Inc. (US), Synopsys, Inc. (US)

Fault Detection and Classification (FDC) Market by Ecosystem

By end use, the automotive segment is expected to grow with the highest CAGR from 2023 to 2028

The fault detection and classification market for automotive end use is expected to grow at the highest CAGR from 2023 to 2028. The growth of the segment is attributed to the the increasing complexity of vehicles, stringent safety regulations, demand for improved fuel efficiency, need to reduce downtime, and advances in technology.  Also, Automotive manufacturers are under immense pressure to meet safety standards and deliver vehicles with low defect rates. FDC systems provide a proactive approach to identifying issues early in the manufacturing process, reducing the likelihood of recalls and safety-related defects. This not only saves manufacturers from costly recalls but also enhances their reputation for producing safe and reliable vehicles.

By offering, the software segment is expected to grow with a highest CAGR in 2028.

Software offering is expected to exhibit a highest CAGR in the fault detection and classification market in 2028. The growth can be attributed as fault detection and classification software offers greater flexibility and adaptability compared to hardware-based solutions. It can be easily updated, modified, or reconfigured to accommodate changes in processes, equipment, or data sources. This flexibility is crucial in industries with rapidly evolving technologies or dynamic operational environments, as it allows organizations to stay agile and responsive to new challenges. Also, Software-based FDC solutions can scale easily to accommodate growing data volumes and expanding operations. As businesses expand, they can simply upgrade their software infrastructure to handle increased data sources and analytical demands.

By hardware, camera segment is expected to grow with a highest CAGR during the forecast period.

Cameras is expected to exhibit a highest CAGR in the fault detection and classification market during the forecast period. The growth of fault detection and classification cameras is driven by their advanced imaging technology, real-time monitoring capabilities, cost efficiency, applicability across industries, regulatory compliance, data analytics potential, and alignment with Industry 4.0 trends. As industries strive for higher product quality, efficiency, and competitiveness, FDC cameras continue to play a pivotal role in meeting these objectives.

Fault Detection and Classification (FDC) Market Regional Analysis

In 2028, Asia Pacific is projected to hold the highest CAGR of the overall fault detection and classification market

Fault Detection and Classification (FDC) Market by Region

Fault Detection and Classification (FDC) Market Statistics by Region

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In 2028, Asia Pacific is projected to account for the largest share of the fault detection and classification market.  Asia pacific has witnessed substantial industrial expansion, particularly in manufacturing, automotive, electronics, and semiconductor industries. As these sectors continue to grow, the need for FDC becomes paramount to maintain product quality, optimize production processes, and ensure operational efficiency.

Top Fault Detection and Classification (FDC) Companies - Key Market Players:

Fault Detection and Classification (FDC) Market Report Scope :

Report Metric

Details

Estimated Market Size USD 4.4 Billion
Projected Market Size USD 7.4 Billion
Growth Rate  CAGR of 8.9 %

Fault Detection and Classification (FDC) Market Size Availability for Years

2019–2028

Base Year

2022

Forecast Period

2023–2028

Forecast Units

Value (USD)

Segments Covered

By Fault types, technology, offering, application, end-use, and region

Geographies Covered

North America, Europe, Asia Pacific, and RoW

Companies Covered

Keyence Corporation (Japan), Cognex Corporation (US), KLA Corporation (US), Teledyne Technologies (US), OMRON Corporation (Japan), Microsoft (US), Tokyo Electron Limited (Japan), Siemens (Germany), Amazon Web Services, Inc. (US), Synopsys, Inc. (US) are some of the key players in the fault detection and classification market.

Fault Detection and Classification (FDC) Market Highlights

This research report categorizes the fault detection and classification market based on by fault types, technology, offering, application, end-use, and region.

Segment

Subsegment

By Fault Type

  • Dimensional Fault
  • Surface Defects
  • Contamination Faults
  • Process Variability
  • Others

Fault Detection and Classification (FDC) Market Share By Technique/Technology

  • Sensor Data Analysis
  • Statistical Methods
  • Machine Learning Algorithm
  • Others

By Offering

  • Introduction
  • Software
  • Hardware
    • Cameras
      • Cameras, by format
        • Area scan cameras
        • Line scan cameras
      • Cameras, by frame rate
      • Sensors
        • CCD sensor
        • CMOS sensors
        • CMOS sensor
    • Frame Grabbers
    • Optics
    • Processors
  • Services

By Application

  • Manufacturing
    • Assembly Verification
    • Flaw Detection
    • Fabrication Inspection
  • Packaging
    • Grading
    • Label Validation
    • Container/Packaging Inspection

By End Use

  • Introduction
  • Automotive
  • Electronic and semiconductor
  • Metals & machinery
  • Food & packaging
  • Pharmaceuticals

By Geography

  • Introduction
  • North America
    • Recession Impact
    • US
    • Canada
    • Mexico
  • Europe
    • Recession Impact
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • Recession Impact
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • ROW
    • Recession Impact
    • Middle East & Africa
    • South America

Recent Developments in Fault Detection and Classification (FDC) Industry

  • In August 2023, Synopsys, Inc. launched Synopsys Software Risk Manager, a powerful new application security posture management (ASPM) solution. Software Risk Manager enables security and development teams to simplify, align and streamline their application security testing across projects, teams and application security testing (AST) tools.
  • In August 2022, Synopsys, Inc. collaborated with NowSecure (US), experts in mobile security and privacy, and Secure Code Warrior, provider of the leading agile learning platform for developer-driven security, to expand its Software Integrity Group's industry-leading portfolio of application security testing (AST) solutions.
  • In July 2022, Microsoft collaborated with Birlasoft to Establish Generative AI Centre of Excellence, Shares Rebound After Announcement. Birlasoft will utilize Azure OpenAI Service features for product design, process optimization, quality and defect detection, predictive maintenance, and digital twins for the manufacturing sector.
  • In may 2023, KLA Corporation partnered with imec (Belgium), a nanoelectronics research center. The partnership is to establish the Semiconductor Talent and Automotive Research (STAR) initiative, which is focused developing the talent base and infrastructure necessary to accelerate advanced semiconductor applications for electrification and autonomous mobility and move the automotive industry forward.
  • In April 2023, The company launched In-Sight 3800 vision system. designed for high-speed production lines, In-Sight 3800 offers an extensive vision toolset, powerful imaging capabilities, and flexible software to deliver a fully integrated solution for a wide range of inspection applications.

Key Questions Addressed by the Report

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 31)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED
           1.3.4 CURRENCY CONSIDERED
           1.3.5 UNITS CONSIDERED
    1.4 LIMITATIONS 
    1.5 STAKEHOLDERS 
    1.6 IMPACT OF RECESSION 
 
2 RESEARCH METHODOLOGY (Page No. - 36)
    2.1 RESEARCH APPROACH 
           FIGURE 2 FAULT DETECTION AND CLASSIFICATION MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY AND PRIMARY RESEARCH
                    FIGURE 3 FAULT DETECTION AND CLASSIFICATION MARKET: RESEARCH APPROACH
           2.1.2 SECONDARY DATA
                    2.1.2.1 Major secondary sources
                    2.1.2.2 Key data from secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Major primary participants
                    2.1.3.2 Primary interviews with experts
                    2.1.3.3 Breakdown of primaries
                    2.1.3.4 Key data from primary sources
                    2.1.3.5 Key industry insights
    2.2 FACTOR ANALYSIS 
           2.2.1 SUPPLY-SIDE ANALYSIS
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN SUPPLY-SIDE ANALYSIS
    2.3 MARKET SIZE ESTIMATION 
           FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS
           2.3.1 BOTTOM-UP APPROACH
                    2.3.1.1 Approach to derive market size using bottom-up analysis
                               FIGURE 7 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    2.3.2.1 Approach to derive market size using top-down analysis (supply side)
                               FIGURE 8 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.3.3 GROWTH PROJECTION AND FORECAST-RELATED ASSUMPTIONS
                    TABLE 1 MARKET GROWTH ASSUMPTIONS
    2.4 DATA TRIANGULATION 
           FIGURE 9 DATA TRIANGULATION
    2.5 RESEARCH ASSUMPTIONS 
           TABLE 2 KEY ASSUMPTIONS: MACRO-AND MICRO-ECONOMIC ENVIRONMENT
    2.6 RESEARCH LIMITATIONS 
    2.7 RISK ASSESSMENT 
           TABLE 3 RISK ASSESSMENT
           2.7.1 PARAMETERS CONSIDERED TO ANALYZE IMPACT OF RECESSION ON FAULT DETECTION AND CLASSIFICATION MARKET
 
3 EXECUTIVE SUMMARY (Page No. - 50)
    FIGURE 10 AUTOMOTIVE SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 11 SOFTWARE SEGMENT TO EXHIBIT HIGHEST CAGR IN MARKET DURING FORECAST PERIOD
    FIGURE 12 CAMERA SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
    FIGURE 13 ASIA PACIFIC TO ACCOUNT FOR LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD
    3.1 IMPACT OF RECESSION ON FAULT DETECTION AND CLASSIFICATION MARKET 
           FIGURE 14 PRE- AND POST-RECESSION IMPACT ON FAULT DETECTION AND CLASSIFICATION MARKET, 2019–2028
 
4 PREMIUM INSIGHTS (Page No. - 54)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES FOR PLAYERS IN FAULT DETECTION AND CLASSIFICATION MARKET 
           FIGURE 15 HIGH DEMAND FOR APPLICATION-SPECIFIC INTEGRATED CIRCUITS TO DRIVE MARKET
    4.2 FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION 
           FIGURE 16 MANUFACTURING SEGMENT LEAD MARKET DURING FORECAST PERIOD
    4.3 FAULT DETECTION AND CLASSIFICATION MARKET FOR MANUFACTURING, BY APPLICATION 
           FIGURE 17 ASSEMBLY VERIFICATION SEGMENT TO EXHIBIT HIGHEST CAGR FROM 2023 TO 2028
    4.4 FAULT DETECTION AND CLASSIFICATION MARKET FOR PACKAGING, BY APPLICATION 
           FIGURE 18 LABEL VALIDATION SEGMENT TO CLAIM HIGHEST MARKET SHARE DURING FORECAST PERIOD
    4.5 FAULT DETECTION AND CLASSIFICATION MARKET, BY REGION 
           FIGURE 19 ASIA PACIFIC TO HOLD LARGEST MARKET SHARE IN 2028, BY VALUE
    4.6 FAULT DETECTION AND CLASSIFICATION MARKET, BY COUNTRY 
           FIGURE 20 CHINA TO DOMINATE MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 57)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 21 FAULT DETECTION AND CLASSIFICATION MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Effective detection and management of complex systems in modern technological landscape
                    5.2.1.2 Improved plant-efficiency and reduced costs with quality control processes in manufacturing
                    5.2.1.3 Increasing focus on deployment of automated tools in manufacturing sector
                    5.2.1.4 High demand for application-specific integrated circuits
                               FIGURE 22 FAULT DETECTION AND CLASSIFICATION MARKET: IMPACT ANALYSIS OF DRIVERS
           5.2.2 RESTRAINTS
                    5.2.2.1 Shortage of skilled professionals
                               FIGURE 23 FAULT DETECTION AND CLASSIFICATION MARKET: IMPACT ANALYSIS OF RESTRAINTS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Improved production processes using AI-based fault detection and classification instruments
                    5.2.3.2 Government-led initiatives to boost adoption of automation and data acquisition systems
                               FIGURE 24 FAULT DETECTION AND CLASSIFICATION MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
           5.2.4 CHALLENGES
                    5.2.4.1 Growing complexities in manufacturing processes attributed to technological innovations
                               FIGURE 25 FAULT DETECTION AND CLASSIFICATION MARKET: IMPACT ANALYSIS OF CHALLENGES
    5.3 VALUE CHAIN ANALYSIS 
           FIGURE 26 FAULT DETECTION AND CLASSIFICATION MARKET: VALUE CHAIN ANALYSIS
           5.3.1 RESEARCH & DEVELOPMENT ENGINEERS
           5.3.2 RAW MATERIAL SUPPLIERS
           5.3.3 MANUFACTURERS
           5.3.4 SYSTEM INTEGRATORS
           5.3.5 SUPPLIERS AND DISTRIBUTORS
    5.4 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 4 FAULT DETECTION AND CLASSIFICATION MARKET: PORTER’S FIVE FORCES ANALYSIS
           FIGURE 27 FAULT DETECTION AND CLASSIFICATION MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.4.1 THREAT OF NEW ENTRANTS
           5.4.2 THREAT OF SUBSTITUTES
           5.4.3 BARGAINING POWER OF SUPPLIERS
           5.4.4 BARGAINING POWER OF BUYERS
           5.4.5 INTENSITY OF COMPETITIVE RIVALRY
    5.5 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           FIGURE 28 REVENUE SHIFT AND NEW REVENUE POCKETS FOR PLAYERS IN FAULT DETECTION AND CLASSIFICATION MARKET
    5.6 ECOSYSTEM MAPPING 
           FIGURE 29 FAULT DETECTION AND CLASSIFICATION MARKET: ECOSYSTEM MAPPING
    5.7 PRICING ANALYSIS 
           FIGURE 30 AVERAGE SELLING PRICE OF HARDWARE, 2019–2028
           5.7.1 AVERAGE SELLING PRICE OF HARDWARE OFFERED BY KEY PLAYERS
                    FIGURE 31 AVERAGE SELLING PRICE OF HARDWARE, BY KEY PLAYERS
                    TABLE 5 AVERAGE SELLING PRICE OF HARDWARE OFFERED BY KEY PLAYERS
    5.8 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.8.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE VERTICALS
                    TABLE 6 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP VERTICALS
           5.8.2 BUYING CRITERIA
                    FIGURE 33 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
                    TABLE 7 KEY BUYING CRITERIA FOR TOP THREE VERTICALS
    5.9 PATENT ANALYSIS 
           FIGURE 34 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS DURING LAST 10 YEARS
           FIGURE 35 REGIONAL ANALYSIS OF PATENTS GRANTED FOR FAULT DETECTION AND CLASSIFICATION DEVICES, 2022
           TABLE 8 FAULT DETECTION AND CLASSIFICATION MARKET: INNOVATIONS AND PATENT REGISTRATIONS, 2021–2023
    5.10 TECHNOLOGY ANALYSIS 
           5.10.1 LIQUID LENS
           5.10.2 ROBOTIC VISION
           5.10.3 DEEP LEARNING
    5.11 TRADE ANALYSIS 
           5.11.1 IMPORT SCENARIO
                    TABLE 9 IMPORT DATA FOR FAULT DETECTION AND CLASSIFICATION INSTRUMENTS, BY COUNTRY, 2018–2022 (USD MILLION)
           5.11.2 EXPORT SCENARIO
                    TABLE 10 EXPORT DATA FOR FAULT DETECTION AND CLASSIFICATION INSTRUMENTS, BY COUNTRY, 2018–2022 (USD MILLION)
    5.12 CASE STUDY ANALYSIS 
           5.12.1 MICROSOFT PROVIDES END-TO-END FAULT DETECTION SYSTEM TO DETECT AND LOCALIZE FAULTS IN SOLAR PANELS BASED ON THEIR ELECTROLUMINESCENCE (EL) IMAGING
           5.12.2 APPLIED MATERIALS, INC. OFFERS COST-EFFECTIVE APPROACH TO PROPAGATE FRONT-END FD PRACTICES INTO BACK-END ATP PROCESSES
    5.13 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 11 FAULT DETECTION AND CLASSIFICATION MARKET: LIST OF CONFERENCES AND EVENTS
    5.14 REGULATORY LANDSCAPE 
           5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 12 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 14 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 15 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.14.2 STANDARDS
    5.15 TARIFF ANALYSIS 
           TABLE 16 TARIFF FOR HS CODE 903033-COMPLIANT PRODUCTS EXPORTED BY GERMANY
           TABLE 17 TARIFF FOR HS CODE 903033-COMPLIANT PRODUCTS EXPORTED BY CHINA, 2022
 
6 TYPES OF FAULTS DETECTED BY FAULT DETECTION AND CLASSIFICATION SYSTEMS (Page No. - 82)
    6.1 INTRODUCTION 
    6.2 DIMENSIONAL FAULT 
           6.2.1 INCREASING USE TO MINIMIZE DIMENSIONAL FAULTS LEADING TO HIGH COSTS AND DOWNTIME
    6.3 SURFACE DEFECTS 
           6.3.1 IRREGULARITIES DUE TO ELECTRICAL SHORTS AND DEVICE FAILURES
    6.4 CONTAMINATION FAULTS 
           6.4.1 INTERFERENCE IN PRECISE ETCHING AND DEPOSITION PROCESS DUE TO CONTAMINATION ISSUES
    6.5 PROCESS VARIABILITY 
           6.5.1 FLUCTUATION IN CLEANROOM ENVIRONMENT IMPACTING PROCESS STABILITY
    6.6 OTHER FAULT TYPES 
 
7 TYPES OF TECHNOLOGY FOR FAULT DETECTION AND CLASSIFICATION (Page No. - 85)
    7.1 INTRODUCTION 
    7.2 SENSOR DATA ANALYSIS 
           7.2.1 GROWING NEED FOR ANALYSIS OF LARGE VOLUMES OF SENSOR DATA IN REAL-TIME TO DRIVE DEMAND
    7.3 STATISTICAL METHODS 
           7.3.1 ABILITY TO TRANSFORM RAW DATA INTO ACTIONABLE INSIGHTS TO FOSTER SEGMENTAL GROWTH
    7.4 MACHINE LEARNING ALGORITHMS 
           7.4.1 EARLY ISSUE DETECTION AND PREDICTIVE MAINTENANCE TO SPUR DEMAND
    7.5 OTHER TECHNOLOGIES 
 
8 FAULT DETECTION AND CLASSIFICATION MARKET, BY OFFERING (Page No. - 87)
    8.1 INTRODUCTION 
           FIGURE 36 HARDWARE SEGMENT TO CAPTURE LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD
           TABLE 18 FAULT DETECTION AND CLASSIFICATION MARKET, BY OFFERING, 2019–2022 (USD MILLION)
           TABLE 19 FAULT DETECTION AND CLASSIFICATION MARKET, BY OFFERING, 2023–2028 (USD MILLION)
    8.2 SOFTWARE 
           8.2.1 RISING CRITICALITY OF INFRASTRUCTURE SYSTEMS TO FOSTER SEGMENTAL GROWTH
    8.3 HARDWARE 
           TABLE 20 HARDWARE: FAULT DETECTION AND CLASSIFICATION MARKET, 2019–2022 (USD MILLION)
           TABLE 21 HARDWARE: FAULT DETECTION AND CLASSIFICATION MARKET, 2023–2028 (USD MILLION)
           FIGURE 37 BY HARDWARE OFFERING, CAMERA SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
           TABLE 22 HARDWARE: FAULT DETECTION AND CLASSIFICATION MARKET, 2019–2022 (MILLION UNITS)
           TABLE 23 HARDWARE: FAULT DETECTION AND CLASSIFICATION MARKET, 2023–2028 (MILLION UNITS)
           8.3.1 CAMERAS
                    8.3.1.1 Cameras, by format
                               8.3.1.1.1 Area scan cameras
                                             8.3.1.1.1.1 Better flexibility than other cameras to drive demand
                               8.3.1.1.2 Line scan cameras
                                             8.3.1.1.2.1 Cost advantage and high resolution to boost demand
                    8.3.1.2 Cameras, by frame rate
                               8.3.1.2.1 Ability to record smooth motion with less motion blur to foster segmental growth
           8.3.2 SENSORS
                    8.3.2.1 CCD sensors
                               8.3.2.1.1 Less defective pixels due to simple structure to drive demand
                    8.3.2.2 CMOS sensors
                               8.3.2.2.1 Low power consumption and high-speed performance to drive demand
           8.3.3 FRAME GRABBERS
                    8.3.3.1 Ability to capture high-resolution digital still images to boost demand
           8.3.4 OPTICS
                    8.3.4.1 Need to regulate flaws in raw materials, components, and finished products to boost demand
           8.3.5 PROCESSORS
                    8.3.5.1 High-resolution and real-time video analytics in vision algorithms to propel market
    8.4 SERVICES 
           8.4.1 GROWING ADOPTION OF AI AND DEEP LEARNING TECHNOLOGIES TO BOOST DEMAND
 
9 FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION (Page No. - 97)
    9.1 INTRODUCTION 
           FIGURE 38 MANUFACTURING SEGMENT TO CAPTURE LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD
           TABLE 24 FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
           TABLE 25 FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
    9.2 MANUFACTURING 
           TABLE 26 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
           TABLE 27 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
           FIGURE 39 ASSEMBLY VERIFICATION SEGMENT TO CAPTURE LARGEST MARKET SHARE FOR MANUFACTURING APPLICATIONS THROUGHOUT FORECAST PERIOD
           TABLE 28 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
           TABLE 29 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
           TABLE 30 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 31 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
           TABLE 32 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET IN NORTH AMERICA, BY COUNTRY, 2019–2022 (USD MILLION)
           TABLE 33 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)
           TABLE 34 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET IN EUROPE, BY COUNTRY, 2019–2022 (USD MILLION)
           TABLE 35 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)
           TABLE 36 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET IN ASIA PACIFIC, BY COUNTRY, 2019–2022 (USD MILLION)
           TABLE 37 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)
           TABLE 38 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET IN ROW, BY REGION, 2019–2022 (USD MILLION)
           TABLE 39 MANUFACTURING: FAULT DETECTION AND CLASSIFICATION MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION)
           9.2.1 ASSEMBLY VERIFICATION
                    9.2.1.1 AI- and deep learning-based fault detection and classification systems to offer growth opportunities
           9.2.2 FLAW DETECTION
                    9.2.2.1 Measurement
                               9.2.2.1.1 Semiconductor and electronics industries to generate significant demand
                    9.2.2.2 Surface anomalies
                               9.2.2.2.1 Implementation of technologically advanced products to detect real-time complex defects to drive market
                    9.2.2.3 Fabrication inspection
                               9.2.2.3.1 Welding inspection
                                             9.2.2.3.1.1 Rising demand for light and efficient designs to foster segmental growth
                               9.2.2.3.2 Semiconductor device fabrication
                                             9.2.2.3.2.1 Growing miniaturization of semiconductor devices to propel market growth
    9.3 PACKAGING 
           TABLE 40 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
           TABLE 41 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
           FIGURE 40 LABEL VALIDATION SEGMENT TO CAPTURE LARGEST MARKET SHARE THROUGHOUT FORECAST PERIOD
           TABLE 42 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
           TABLE 43 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
           TABLE 44 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY REGION, 2019–2022 (USD MILLION)
           TABLE 45 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
           TABLE 46 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET IN NORTH AMERICA, BY COUNTRY, 2019–2022 (USD MILLION)
           TABLE 47 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET IN NORTH AMERICA, BY COUNTRY, 2023–2028 (USD MILLION)
           TABLE 48 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET IN EUROPE, BY COUNTRY, 2019–2022 (USD MILLION)
           TABLE 49 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET IN EUROPE, BY COUNTRY, 2023–2028 (USD MILLION)
           TABLE 50 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET IN ASIA PACIFIC, BY COUNTRY, 2019–2022 (USD MILLION)
           TABLE 51 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET IN ASIA PACIFIC, BY COUNTRY, 2023–2028 (USD MILLION)
           TABLE 52 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET IN ROW, BY REGION, 2019–2022 (USD MILLION)
           TABLE 53 PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET IN ROW, BY REGION, 2023–2028 (USD MILLION)
           9.3.1 GRADING
                    9.3.1.1 Introduction of application-specific products and solutions to boost market
           9.3.2 LABEL VALIDATION
                    9.3.2.1 Product information
                               9.3.2.1.1 Assurance of defect-free product labeling with advanced fault detection and classification systems to drive market
                    9.3.2.2 Barcodes
                               9.3.2.2.1 Increasing concerns about quality standards to boost demand
           9.3.3 CONTAINER/PACKAGING INSPECTION
                    9.3.3.1 Packaging integrity
                               9.3.3.1.1 Assurance of product sterility and reduced dependence on manual and expensive inspection processes to drive market
 
10 FAULT DETECTION AND CLASSIFICATION MARKET, BY VERTICAL (Page No. - 116)
     10.1 INTRODUCTION 
           FIGURE 41 ELECTRONICS & SEMICONDUCTORS TO LEAD MARKET THROUGHOUT FORECAST PERIOD
           TABLE 54 FAULT DETECTION AND CLASSIFICATION MARKET, BY VERTICAL, 2019–2022 (USD MILLION)
           TABLE 55 FAULT DETECTION AND CLASSIFICATION MARKET, BY VERTICAL, 2023–2028 (USD MILLION)
     10.2 AUTOMOTIVE 
             10.2.1 RISING PRODUCTION OF HYBRID AND ELECTRIC VEHICLES TO BOOST MARKET
                        TABLE 56 AUTOMOTIVE: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 57 AUTOMOTIVE: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        FIGURE 42 ASSEMBLY VERIFICATION TO LEAD MARKET THROUGHOUT FORECAST PERIOD
                        TABLE 58 AUTOMOTIVE: FAULT DETECTION AND CLASSIFICATION MARKET, BY MANUFACTURING APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 59 AUTOMOTIVE: FAULT DETECTION AND CLASSIFICATION MARKET, BY MANUFACTURING APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 60 AUTOMOTIVE: FAULT DETECTION AND CLASSIFICATION MARKET, BY PACKAGING APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 61 AUTOMOTIVE: FAULT DETECTION AND CLASSIFICATION MARKET, BY PACKAGING APPLICATION, 2023–2028 (USD MILLION)
     10.3 ELECTRONICS & SEMICONDUCTORS 
             10.3.1 ABILITY TO DETECT COMPLEX AND MACRO DEFECTS TO BOOST DEMAND
                        TABLE 62 ELECTRONICS & SEMICONDUCTORS: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 63 ELECTRONICS & SEMICONDUCTORS: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        FIGURE 43 BY MANUFACTURING APPLICATION, FABRIC INSPECTION TO DOMINATE MARKET DURING FORECAST PERIOD
                        TABLE 64 ELECTRONICS & SEMICONDUCTORS: FAULT DETECTION AND CLASSIFICATION MARKET, BY MANUFACTURING APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 65 ELECTRONICS & SEMICONDUCTORS: FAULT DETECTION AND CLASSIFICATION MARKET, BY MANUFACTURING APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 66 ELECTRONICS & SEMICONDUCTORS: FAULT DETECTION AND CLASSIFICATION MARKET, BY PACKAGING APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 67 ELECTRONICS & SEMICONDUCTORS: FAULT DETECTION AND CLASSIFICATION MARKET, BY PACKAGING APPLICATION, 2023–2028 (USD MILLION)
     10.4 METALS & MACHINERY 
             10.4.1 DEPLOYMENT OF INDUSTRY 4.0 AND IIOT IN METALS & MACHINERY TO DRIVE MARKET
                        TABLE 68 METALS & MACHINERY: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 69 METALS & MACHINERY: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        FIGURE 44 ASSEMBLY VERIFICATION SEGMENT TO EXHIBIT HIGHEST CAGR IN FAULT DETECTION AND CLASSIFICATION MARKET FOR MANUFACTURING APPLICATIONS DURING FORECAST PERIOD
                        TABLE 70 METALS & MACHINERY: FAULT DETECTION AND CLASSIFICATION MARKET, BY MANUFACTURING APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 71 METALS & MACHINERY: FAULT DETECTION AND CLASSIFICATION MARKET, BY MANUFACTURING APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 72 METALS & MACHINERY: FAULT DETECTION AND CLASSIFICATION MARKET, BY PACKAGING APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 73 METALS & MACHINERY: FAULT DETECTION AND CLASSIFICATION MARKET, BY PACKAGING APPLICATION, 2023–2028 (USD MILLION)
     10.5 FOOD & PACKAGING 
             10.5.1 IMPLEMENTATION OF AI AND DEEP LEARNING SOFTWARE IN FOOD & PACKAGING TO DRIVE MARKET
                        TABLE 74 FOOD & PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 75 FOOD & PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        FIGURE 45 ASSEMBLY VERIFICATION SEGMENT TO DISPLAY HIGHEST CAGR IN FAULT DETECTION AND CLASSIFICATION MARKET FOR MANUFACTURING APPLICATIONS THROUGHOUT FORECAST PERIOD
                        TABLE 76 FOOD & PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY MANUFACTURING APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 77 FOOD & PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY MANUFACTURING APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 78 FOOD & PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY PACKAGING APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 79 FOOD & PACKAGING: FAULT DETECTION AND CLASSIFICATION MARKET, BY PACKAGING APPLICATION, 2023–2028 (USD MILLION)
     10.6 PHARMACEUTICALS 
             10.6.1 ABILITY TO INSPECT LARGE NUMBER OF TABLETS ACCURATELY TO BOOST DEMAND
                        TABLE 80 PHARMACEUTICALS: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 81 PHARMACEUTICALS: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
                        FIGURE 46 ASSEMBLY VERIFICATION TO DISPLAY HIGHEST CAGR DURING FORECAST PERIOD
                        TABLE 82 PHARMACEUTICALS: FAULT DETECTION AND CLASSIFICATION MARKET, BY MANUFACTURING APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 83 PHARMACEUTICALS: FAULT DETECTION AND CLASSIFICATION MARKET, BY MANUFACTURING APPLICATION, 2023–2028 (USD MILLION)
                        TABLE 84 PHARMACEUTICALS: FAULT DETECTION AND CLASSIFICATION MARKET, BY PACKAGING APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 85 PHARMACEUTICALS: FAULT DETECTION AND CLASSIFICATION MARKET, BY PACKAGING APPLICATION, 2023–2028 (USD MILLION)
 
11 FAULT DETECTION AND CLASSIFICATION MARKET, BY REGION (Page No. - 132)
     11.1 INTRODUCTION 
             FIGURE 47 ASIA PACIFIC TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
             TABLE 86 FAULT DETECTION AND CLASSIFICATION MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 87 FAULT DETECTION AND CLASSIFICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
     11.2 NORTH AMERICA 
             FIGURE 48 NORTH AMERICA: FAULT DETECTION AND CLASSIFICATION MARKET SNAPSHOT
             TABLE 88 NORTH AMERICA: FAULT DETECTION AND CLASSIFICATION MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 89 NORTH AMERICA: FAULT DETECTION AND CLASSIFICATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             11.2.1 US
                        11.2.1.1 Presence of established players to foster market growth
                                     TABLE 90 US: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 91 US: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.2.2 CANADA
                        11.2.2.1 Thriving automotive and aerospace sectors to contribute to market growth
                                     TABLE 92 CANADA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 93 CANADA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.2.3 MEXICO
                        11.2.3.1 Growing FDIs in manufacturing to boost market growth
                                     TABLE 94 MEXICO: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 95 MEXICO: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.2.4 NORTH AMERICA: RECESSION IMPACT
     11.3 EUROPE 
             FIGURE 49 EUROPE: FAULT DETECTION AND CLASSIFICATION MARKET SNAPSHOT
             TABLE 96 EUROPE: FAULT DETECTION AND CLASSIFICATION MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 97 EUROPE: FAULT DETECTION AND CLASSIFICATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             11.3.1 GERMANY
                        11.3.1.1 Increasing demand for robots in automotive and electronics industries to foster market growth
                                     TABLE 98 GERMANY: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 99 GERMANY: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.3.2 UK
                        11.3.2.1 Pharmaceutical industry to create significant demand for fault detection and classification systems
                                     TABLE 100 UK: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 101 UK: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.3.3 FRANCE
                        11.3.3.1 Rising automobile production to boost demand
                                     TABLE 102 FRANCE: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 103 FRANCE: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.3.4 REST OF EUROPE
                        TABLE 104 REST OF EUROPE: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 105 REST OF EUROPE: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.3.5 EUROPE: RECESSION IMPACT
     11.4 ASIA PACIFIC 
             FIGURE 50 ASIA PACIFIC: FAULT DETECTION AND CLASSIFICATION MARKET SNAPSHOT
             TABLE 106 ASIA PACIFIC: FAULT DETECTION AND CLASSIFICATION MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
             TABLE 107 ASIA PACIFIC: FAULT DETECTION AND CLASSIFICATION MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
             11.4.1 CHINA
                        11.4.1.1 Established manufacturing hub for consumer electronics and automobiles to propel market growth
                                     TABLE 108 CHINA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 109 CHINA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.4.2 JAPAN
                        11.4.2.1 Healthy growth of consumer electronics industry to boost demand
                                     TABLE 110 JAPAN: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 111 JAPAN: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.4.3 SOUTH KOREA
                        11.4.3.1 Expanding consumer electronics industry and manufacturing sector to boost market growth
                                     TABLE 112 SOUTH KOREA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 113 SOUTH KOREA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.4.4 INDIA
                        11.4.4.1 Government-led campaigns for boosting domestic manufacturing sector to drive market
                                     TABLE 114 INDIA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 115 INDIA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.4.5 REST OF ASIA PACIFIC
                        TABLE 116 REST OF ASIA PACIFIC: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                        TABLE 117 REST OF ASIA PACIFIC: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.4.6 ASIA PACIFIC: RECESSION IMPACT
     11.5 ROW 
             TABLE 118 ROW: FAULT DETECTION AND CLASSIFICATION MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 119 ROW: FAULT DETECTION AND CLASSIFICATION MARKET, BY REGION, 2023–2028 (USD MILLION)
             11.5.1 MIDDLE EAST & AFRICA
                        11.5.1.1 Booming energy & power industry to fuel demand
                                     TABLE 120 MEA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 121 MEA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.5.2 SOUTH AMERICA
                        11.5.2.1 Rising need for high-quality automated inspections to drive demand
                                     TABLE 122 SOUTH AMERICA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2019–2022 (USD MILLION)
                                     TABLE 123 SOUTH AMERICA: FAULT DETECTION AND CLASSIFICATION MARKET, BY APPLICATION, 2023–2028 (USD MILLION)
             11.5.3 ROW: RECESSION IMPACT
 
12 COMPETITIVE LANDSCAPE (Page No. - 157)
     12.1 OVERVIEW 
     12.2 KEY STRATEGIES ADOPTED BY MAJOR PLAYERS 
             TABLE 124 OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS
             12.2.1 PRODUCT PORTFOLIO
             12.2.2 REGIONAL FOCUS
             12.2.3 MANUFACTURING FOOTPRINT
             12.2.4 ORGANIC/INORGANIC STRATEGIES
     12.3 MARKET SHARE ANALYSIS, 2022 
             TABLE 125 FAULT DETECTION AND CLASSIFICATION MARKET SHARE ANALYSIS, 2022
     12.4 REVENUE ANALYSIS, 2018–2022 
             FIGURE 51 FAULT DETECTION AND CLASSIFICATION SYSTEMS: REVENUE ANALYSIS OF FIVE KEY PLAYERS, 2018–2022
     12.5 EVALUATION MATRIX OF KEY COMPANIES, 2022 
             12.5.1 STARS
             12.5.2 EMERGING LEADERS
             12.5.3 PERVASIVE PLAYERS
             12.5.4 PARTICIPANTS
                        FIGURE 52 FAULT DETECTION AND CLASSIFICATION SYSTEMS: EVALUATION MATRIX OF KEY COMPANIES, 2022
     12.6 EVALUATION MATRIX OF STARTUPS/SMES, 2022 
             TABLE 126 FAULT DETECTION AND CLASSIFICATION MARKET: LIST OF KEY STARTUPS/SMES
             TABLE 127 FAULT DETECTION AND CLASSIFICATION MARKET: STARTUPS/SMES COMPANY PROFILE
             TABLE 128 FAULT DETECTION AND CLASSIFICATION MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (OFFERING)
             TABLE 129 FAULT DETECTION AND CLASSIFICATION MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (VERTICAL FOOTPRINT)
             TABLE 130 FAULT DETECTION AND CLASSIFICATION MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES (REGION FOOTPRINT)
             12.6.1 PROGRESSIVE COMPANIES
             12.6.2 RESPONSIVE COMPANIES
             12.6.3 DYNAMIC COMPANIES
             12.6.4 STARTING BLOCKS
                        FIGURE 53 FAULT DETECTION AND CLASSIFICATION MARKET: EVALUATION MATRIX OF STARTUPS/SME, 2022
     12.7 COMPANY FOOTPRINT 
             TABLE 131 FAULT DETECTION AND CLASSIFICATION MARKET: COMPANY FOOTPRINT
             TABLE 132 VERTICAL: COMPANY FOOTPRINT
             TABLE 133 OFFERING: COMPANY FOOTPRINT
             TABLE 134 REGION: COMPANY FOOTPRINT
     12.8 COMPETITIVE SCENARIOS AND TRENDS 
             12.8.1 PRODUCT LAUNCHES
                        TABLE 135 FAULT DETECTION AND CLASSIFICATION MARKET: PRODUCT LAUNCHES, 2019–2023
             12.8.2 DEALS
                        TABLE 136 FAULT DETECTION AND CLASSIFICATION MARKET: DEALS, 2019–2023
             12.8.3 OTHERS
                        TABLE 137 FAULT DETECTION AND CLASSIFICATION MARKET: OTHERS, 2019–2023
 
13 COMPANY PROFILES (Page No. - 182)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*  
     13.1 KEY PLAYERS 
             13.1.1 KEYENCE CORPORATION
                        TABLE 138 KEYENCE CORPORATION: COMPANY OVERVIEW
                        FIGURE 54 KEYENCE CORPORATION: COMPANY SNAPSHOT
                        TABLE 139 KEYENCE CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 140 KEYENCE CORPORATION: PRODUCT LAUNCHES
             13.1.2 COGNEX CORPORATION
                        TABLE 141 COGNEX CORPORATION: COMPANY OVERVIEW
                        FIGURE 55 COGNEX CORPORATION: COMPANY SNAPSHOT
                        TABLE 142 COGNEX CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 143 COGNEX CORPORATION: PRODUCT LAUNCHES
                        TABLE 144 COGNEX CORPORATION: DEALS
             13.1.3 OMRON CORPORATION
                        TABLE 145 OMRON CORPORATION: COMPANY OVERVIEW
                        FIGURE 56 OMRON CORPORATION: COMPANY SNAPSHOT
                        TABLE 146 OMRON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 147 OMRON CORPORATION: PRODUCT LAUNCHES
                        TABLE 148 OMRON CORPORATION: DEALS
                        TABLE 149 OMRON CORPORATION: OTHERS
             13.1.4 TELEDYNE TECHNOLOGIES INCORPORATED
                        TABLE 150 TELEDYNE TECHNOLOGIES INCORPORATED: COMPANY OVERVIEW
                        FIGURE 57 TELEDYNE TECHNOLOGIES INCORPORATED: COMPANY SNAPSHOT
                        TABLE 151 TELEDYNE TECHNOLOGIES INCORPORATED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 152 TELEDYNE TECHNOLOGIES INCORPORATED: PRODUCT LAUNCHES
                        TABLE 153 TELEDYNE TECHNOLOGIES INCORPORATED: DEALS
             13.1.5 KLA CORPORATION
                        TABLE 154 KLA CORPORATION: COMPANY OVERVIEW
                        FIGURE 58 KLA CORPORATION: COMPANY SNAPSHOT
                        TABLE 155 KLA CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 156 KLA CORPORATION: PRODUCT LAUNCHES
                        TABLE 157 KLA CORPORATION: DEALS
                        TABLE 158 KLA CORPORATION: OTHERS
             13.1.6 SIEMENS
                        TABLE 159 SIEMENS: COMPANY OVERVIEW
                        FIGURE 59 SIEMENS: COMPANY SNAPSHOT
                        TABLE 160 SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 161 SIEMENS: DEALS
             13.1.7 MICROSOFT
                        TABLE 162 MICROSOFT: COMPANY OVERVIEW
                        FIGURE 60 MICROSOFT: COMPANY SNAPSHOT
                        TABLE 163 MICROSOFT: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 164 MICROSOFT: PRODUCT LAUNCHES
                        TABLE 165 MICROSOFT: DEALS
             13.1.8 AMAZON WEB SERVICES, INC.
                        TABLE 166 AMAZON WEB SERVICES, INC.: COMPANY OVERVIEW
                        FIGURE 61 AMAZON WEB SERVICES, INC.: COMPANY SNAPSHOT
                        TABLE 167 AMAZON WEB SERVICES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 168 AMAZON WEB SERVICES, INC.: PRODUCT LAUNCHES
                        TABLE 169 AMAZON WEB SERVICES, INC.: DEALS
                        TABLE 170 AMAZON WEB SERVICES, INC.: OTHERS
             13.1.9 TOKYO ELECTRON LIMITED
                        TABLE 171 TOKYO ELECTRON LIMITED: COMPANY OVERVIEW
                        FIGURE 62 TOKYO ELECTRON LIMITED: COMPANY SNAPSHOT
                        TABLE 172 TOKYO ELECTRON LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             13.1.10 SYNOPSYS, INC.
                        TABLE 173 SYNOPSYS, INC.: COMPANY OVERVIEW
                        FIGURE 63 SYNOPSYS, INC.: COMPANY SNAPSHOT
                        TABLE 174 SYNOPSYS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 175 SYNOPSYS, INC.: PRODUCT LAUNCHES
                        TABLE 176 SYNOPSYS, INC.: DEALS
             13.1.11 APPLIED MATERIALS, INC.
                        TABLE 177 APPLIED MATERIALS, INC.: COMPANY OVERVIEW
                        FIGURE 64 APPLIED MATERIALS, INC.: COMPANY SNAPSHOT
                        TABLE 178 APPLIED MATERIALS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 179 APPLIED MATERIALS, INC.: PRODUCT LAUNCHES
     13.2 OTHER PLAYERS 
             13.2.1 EINNOSYS TECHNOLOGIES INC.
             13.2.2 DATALOGIC S.P.A.
             13.2.3 PDF SOLUTIONS
             13.2.4 NIKON CORPORATION
             13.2.5 INFICON
             13.2.6 QUALITAS TECHNOLOGIES
             13.2.7 BEYONDMINDS
             13.2.8 ELUNIC AG
             13.2.9 CHOOCH INTELLIGENCE TECHNOLOGIES
             13.2.10 KILI TECHNOLOGY
             13.2.11 MOBIDEV
             13.2.12 DWFRITZ AUTOMATION, LLC
             13.2.13 RADIANT OPTRONICS PTE LTD
             13.2.14 VISIONIFY.AI
     13.3 SOUTH KOREA – OTHER PLAYERS 
             13.3.1 SAMSUNG SDS
             13.3.2 LS ELECTRIC CO., LTD.
             13.3.3 DOOSAN CORPORATION (DOOSAN ŠKODA POWER)
             13.3.4 HYUNDAI HEAVY INDUSTRIES
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.  
 
14 APPENDIX (Page No. - 250)
     14.1 DISCUSSION GUIDE 
     14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.3 CUSTOMIZATION OPTIONS 
     14.4 RELATED REPORTS 
     14.5 AUTHOR DETAILS 
 

 

The study involved four major activities in estimating the size of fault detection and classification market. Exhaustive secondary research has been carried out to collect information on the market, the peer markets, and the parent market. Both top-down and bottom-up approaches have been employed to estimate the total market size. Market breakdown and data triangulation methods have also been used to estimate the market for segments and subsegments.

Secondary Research

Revenues of companies offering fault detection and classification systems have been obtained from the secondary data available through paid and unpaid sources. The revenues have also been derived by analyzing the product portfolio of key companies, and these companies have been rated according to the performance and quality of their products.

In the secondary research process, various sources have been referred to for identifying and collecting information for this study on the fault detection and classification market. Secondary sources considered for this research study include government sources; corporate filings; and trade, business, and professional associations. Secondary data has been collected and analyzed to arrive at the overall market size, which has been further validated through primary research.   


Secondary research has been mainly used to obtain key information about the supply chain of fault detection and classification systems to identify key players based on their products and prevailing industry trends in the fault detection and classification market by by fault types, technology, offering, application, end-use, and region. Secondary research also helped obtain market information- and technology-oriented key developments undertaken by market players to expand their presence and increase their market share.  

Primary Research

Extensive primary research has been conducted after understanding and analyzing the current scenario of fault detection and classification market through secondary research. Several primary interviews have been conducted with the key opinion leaders from the demand and supply sides across four main regions—North America, Europe, Asia Pacific, and the Rest of Europe. Approximately 25% of the primary interviews were conducted with the demand-side respondents, while approximately 75% have been conducted with the supply-side respondents. The primary data has been collected through questionnaires, emails, and telephonic interviews.

After interacting with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings from our primary. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the remainder of this report. The breakdown of primary respondents is as follows:

Fault Detection and Classification (FDC) Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The bottom-up procedure has been employed to arrive at the overall size of the fault detection and classification market.

  • Analyzing the average selling price of fault detection and classification systems based on different technologies used in different products.
  • Arriving at the market estimates by analyzing the revenue of companies and then combining these figures to arrive at the market size.
  • Studying various paid and unpaid sources, such as annual reports, press releases, white papers, and databases, to gather the required information. 
  • Tracking the ongoing developments and identifying the upcoming ones in the market that include investments, research and development activities, product launches, collaborations, and partnerships undertaken, as well as forecasting the market based on these developments and other critical parameters.
  • Carrying out multiple discussions with the key opinion leaders to understand the fault detection and classification technologies and related raw materials, as well as products designed and developed to analyze the break-up of the scope of work carried out by the key companies manufacturing panels.
  • Verifying and cross-checking the estimate at every level through discussions with key opinion leaders such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts in MarketsandMarkets

Fault Detection and Classification (FDC) Market Size, and Bottom-up Approach

The top-down approach has been used to estimate and validate the total size of the fault detection and classification market.

  • Focusing on top-line investments and expenditures being made in the ecosystems of various end users.
  • Calculating the market size considering revenues generated by major players through the cost of the fault detection and classification systems.
  • Segmenting each application of fault detection and classification in each region and deriving the global market size based on region.
  • Acquiring and analyzing information related to revenues generated by players through their key product offerings.
  • Conducting multiple on-field discussions with key opinion leaders involved in the development of various fault detection and classification offerings.
  • Estimating the geographic split using secondary sources based on various factors, such as the number of players in a specific country and region and the types of fault detection and classification technology used in automotive, electronics and semiconductor, metals & machinery, food & packaging and pharmaceuticals

Fault Detection and Classification (FDC) Market Size, and Top-down Approach

Data Triangulation

After arriving at the overall market size-using the market size estimation processes as explained above-the market has been split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from the demand and supply sides in the fault detection and classification market.

Market Definition

Fault detection and classification is an important part of the manufacturing process. The initial detection of faults or defects and the removal of the aspects that may produce them are essential to improve product quality and reduce the economic impact caused by defective products. Modern-day fault detection and classification systems use sensor data analysis, machine learning algorithm and statistical methods for instant identification of defective or anomalous defects on complex surfaces, which helps manufacturers reduce costs and meet consumer quality expectations.

Key Stakeholders

  • Brand Product Manufacturers/Original Equipment Manufacturers (OEMs)/Original Device Manufacturers (ODMs)
  • Fault detection and classification System Manufacturers
  • Semiconductor Component Suppliers/Foundries
  • fault detection and classification Material and Component Suppliers
  • Manufacturing Equipment Suppliers
  • System Integrators
  • Technology/IP Developers
  • Consulting and Market Research Service Providers
  • Fault detection and classification and Material-related Associations, Organizations, Forums, and Alliances
  • Venture Capitalists and Startups
  • Research and Educational Institutes
  • Distributors and Resellers
  • End Users

Report Objectives

  • To describe and forecast the size of the fault detection and classification market, based on offering, application, and end use
  • To describe and forecast the market size of various segments across four key regions—North America, Europe, Asia Pacific, and Rest of the World (RoW), in terms of value
  • To describe the technology and fault type in fault detection and classification
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the fault detection and classification market 
  • To provide an overview of the value chain pertaining to the augmented and virtual reality in education ecosystem, along with the average selling price of fault detection and classification devices
  • To strategically analyze the ecosystem, regulatory landscape, patent landscape, Porter’s five forces, import and export scenarios, trade landscape, and case studies pertaining to the market under study
  • To strategically analyze micromarkets1 with regard to individual growth trends, prospects, and contributions to the overall market
  • To analyze opportunities in the market for stakeholders by identifying high-growth segments
  • To provide details of the competitive landscape for market leaders
  • To analyze strategies, such as product launches and developments, acquisitions, investment, partnerships, collaborations, and expansion were adopted by players in fault detection and classification market
  • To profile key players in the fault detection and classification market and comprehensively analyze their market ranking based on their revenue, market share, and core competencies2  

Available customizations:

With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:

  • Detailed analysis and profiling of additional market players based on various blocks of the supply chain
Custom Market Research Services

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