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Classified in: Science and technology
Subject: SVY

Digital Imaging Market Worth 24.08 billion USD by 2023


PUNE, India, July 17, 2018 /PRNewswire/ --

According to the new market research report "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", published by MarketsandMarketstm, the 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.

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Browse 76 market data Tables and 45 Figures spread through 166 Pages and in-depth TOC on "Digital Imaging Market - Global Forecast to 2023"


https://www.marketsandmarkets.com/Market-Reports/digital-imaging-market-51049606.html

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The growth of the digital imaging market is driven by factors such as technological advantage over traditional methods, growing  need of industrial automation, and increasing consumer awareness raising the bar of safety and quality standards.

Metrology to hold largest share of digital imaging market by 2018 

Metrology is expected to hold the largest share of the digital imaging market  by 2018. Metrology systems are widely used in the industries such as automotive, aerospace, energy & power, medical, and electronics to streamline their quality assurance processes and improve their manufacturing efficiency. Metrology is used in inspecting components, assembling, production planning, documenting large volume spaces, and surveying, among other applications.

Automotive to hold largest share of digital imaging market by 2018 

The increasing adoption of industrial 4.0 would help enhance productivity through quality control by allowing the manufacturers to detect defects as well as enabling the predictive maintenance of factory machinery. Thus, the increasing adoption of industry 4.0 for making the processes more efficient through timely flaw detection is expected to drive the growth of the digital imaging market for the automotive industry. The automotive industry is expected to hold the largest share of the digital imaging market by 2018.

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Digital imaging market in APAC to grow at highest CAGR during forecast period 

The digital imaging market in APAC is expected to grow at the highest CAGR during the forecast period. Increasing population, rapidly growing economies (developed as well as developing), and government initiatives to promote industrial growth have made APAC an ideal destination for production units for various sectors including semiconductor, electronics, and automotive. Other major drivers for the growth of the market in APAC include the growing inclination toward energy generation projects based on alternative sources such as nuclear power, wind turbines, and hydroelectricity owing to the growing concerns regarding the depleting natural sources of energy.

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) are a few key players in the digital imaging market.

Know more about the Digital Imaging Market: 

https://www.marketsandmarkets.com/Market-Reports/digital-imaging-market-51049606.html

About MarketsandMarketstm

MarketsandMarketstm provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarketstm for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarketstm are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarketstm now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarketstm is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Research Insight: https://www.marketsandmarkets.com/ResearchInsight/digital-imaging-market.asp
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SOURCE MarketsandMarkets


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