Defect detection market to reach USD 5.5 billion by 2027. Global defect detection market is valued approximately at USD 3.3 billion in 2020 and is anticipated to grow with a healthy growth rate of about 7.5% over the forecast period 2021-2027.
Defect detection at the time of manufacturing processes is a crucial step to ensure quality of the product. The timely detection of defects or faults and taking the required and appropriate actions are important to reduce quality and operation-related costs. The global defect detection market is being driven by high demand for application-specific integrated circuits (ASICs) and stringent health and safety measures imposed by governments and standards organizations on global manufacturing firms.
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Furthermore, increasing adoption of artificial intelligence (AI) technology in defect detection will provide new opportunities for the global defect detection industry. There has been increase in the demand for artificial intelligence technology across the globe. According to Statista, revenues from the artificial intelligence market across the globe is expected to increase from USD 341.8 billion in 2021 to approximately USD 0.5 trillion by 2024. Such growth in the market revenue share of artificial intelligence is expected to increase its adoption and deployment in the defect detection industry and hence this is expected to boost the market growth. However, dearth of skilled professionals in manufacturing factories may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global defect detection market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific accounts for the largest share in terms of market revenue in the global defect detection market over the forecast period 2021-2027.
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Factors such as largest manufacturing facilities in countries such as Japan, China, India, and South Korea, where automation is accorded the highest priority, presence of well-established food & packaging, semiconductors, and automotive industries, rapid industrialization, investments in the R&D, implementation of industrial internet of things (IIoT) with other industrial automation solutions, etc. contribute towards the largest market share of the region in the forecast years.
Major market player included in this report are:
Amazon Web Services
Matrox Electronic Systems
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
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The detailed segments and sub-segment of the market are explained below:
Electronics & Semiconductors
Metals & Machinery
Food and Packaging
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Defect Detection Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Final Report will add the analysis of the impact of COVID-19 on this industry.”
a large number of indigenous manufacturers of syringes and needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.
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It begins with the introduction section which mentions the features and uses of syringes and needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes and needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.
An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes and needles and problems associated with usage. Government legislation in the market has been discussed in the next section.
The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.
A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:
What is the aim of the report?
Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The various parameters accelerating the growth of Market are incorporated in the research report.
The report analyses growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
The report offers detailed analysis of leading companies in the market across the globe.
It provides details of the major vendors involved in the Market including Key Players
A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
the manufactured products is incorporated in the report.
The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
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What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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