Surface Inspection Market

Market Leadership - Surface Inspection Market

The surface inspection market is expected to grow from USD 3.7 billion in 2020 to USD 5.3 billion by 2025, at a CAGR of 7.4% during the forecast period. There is a growing demand for quality assurance and automation in industries. With increasing competition, the importance of quality assurance is becoming more prominent. The companies are moving towards automation to increase speed, reduce human error, and reduce cost. This will spurt the demand for surface inspection systems. Due to advancements in vision technology through cameras with higher resolution, faster processors and robust software, the surface inspection market can expand in more industries. Also, the increasing wages in many countries like Spain, China, and the UK is the main driver for the surface inspection market.

Although the surface inspection market is growing at a steady pace, it is moderately competitive owing to the presence of several players such as (Israel) and Vitronic (Germany) venturing into a robot-based surface inspection system. Key strategies adopted by these players to enhance their product portfolios, increase their market share, and expand their presence in the market mainly include new product launches. For instance, in October 2019, ISRA Vision (Germany) launched Blanking Master for surface inspection in the blanking process in the metal industry to detect defects such as scratches, rolling marks and scoring. In January 2019, Teledyne DALSA (Canada) launched a low-cost vision system, GEVA 400 for multi-camera applications. The four Power-over-Ethernet (PoE) compliant Gigabit camera ports are compatible with a wide range of cameras. Apart from this, players have also adopted partnership and expansion strategies to enhance their product portfolio and geographical reach. For instance, in July 2018, AMETEK acquired Motec Gmbh (New Jersey). Motec is a leading provider of ruggedized vision systems for the high-growth mobile machine vision market.

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

AMETEK (US) aims to double its size and profits in the next five years. The company has adopted the strategies of acquisitions and expansions to grow in the surface inspection market. It deployed a record USD 1.1 billion of capital in 2018 on strategic acquisitions. The company made six acquisitions and added approximately USD 350 million in annual sales in 2018. AMETEK has also boosted its efforts to expand in the attractive, higher-growth market segments and geographic regions worldwide. It has invested in emerging economies such as India and Southeast Asia to grow its R&D, sales, and service capabilities. The company also focuses on product innovation; it spent around 4.7% of its revenue on R&D in 2018. AMETEK will be future-ready if it incorporates Industry 4.0 standards in its products. The company earns 20% of its revenue from Asia, where it can expand further; highly industrialized countries such as China and Japan will also help the company to minimize its dependence on the US. AMETEK has more than 150 operating locations and a global network of sales, service and support locations in 30 countries around the world. Some of the company’s subsidiaries are Vision Research Inc. (US), Advanced Measurement Technology Inc. (US) and AMETEK Finland Oy (Finland).

Omron‘s (Japan) biggest strength is its strong employee base, which was 37,090, as of March 2018. The company invests heavily in R&D to develop innovative products and enhance its existing product portfolio. In 2018, Omron’s R&D expenses accounted for 6.7% of its total revenue. Due to the company’s strong focus on R&D, it had 9,782 patents registered in its name, till 2018. Omron depends on the market in Asia, especially Japan and China, for revenue generation. The company has a higher concentration of production units in Japan and other countries in Asia compared to other countries in the world. It needs to amplify its production units to increase its worldwide presence and emerge as a strong market player. Omron provides the best lighting system, fastest controller, and most comprehensive range of filters in the vision system. The company will further strengthen its position by making its software, as flexible and easy to install software is the need of the hour. Omron should also move towards Industry 4.0 standards. Since the company has subsidiaries in various industries such as electronics, mechanical components, and healthcare, it can better understand the specific needs of these industries for surface inspection and provide better solutions. The company has reached in 117 countries. Some of the company’s subsidiaries include Gyoden Corporation (Japan), Omron Asia-Pacific Pte Ltd. (Singapore), Omron Aso Co. Ltd. (Japan), and Omron Taiwan Electronics Inc. (Taiwan).

Related Reports:

Surface Inspection Market by Component (Camera, Frame Grabber, Processor, Software), Surface Type (2D and 3D), System (Computer System and Camera System), Deployment Type (Traditional, Robotic Cell), Vertical, and Geography - Global Forecast to 2025

Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Report Code
SE 4377
RI Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Surface Inspection Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2021 MarketsandMarkets Research Private Ltd. All rights reserved