Surface Inspection Sector to Post 7.9% CAGR to 2021, Says M&M in Its In-demand Report Published at MarketPublishers.com24 Jun 2016 • by Natalie Aster
LONDON – The surface inspection sector is expected to gain traction at a CAGR of 7.9% in the upcoming years and be valued at 3.53 billion by 2022. Rising consumer awareness about product quality has resulted in the upsurge in the demand for inspection and quality control for final products. The market growth has also been propelled by the ever-increasing demand for automation in the industrial segments.
In terms of verticals, the automotive sector is set to post the highest CAGR over the forecasted period. It is one of the key sectors wherein surface inspection based on vision technology plays a pivotal role since this area necessitates precise inspection and quality control for its products. In view of this, the growth of the surface inspection sector for the automotive vertical is likely to pick up speed in the offing.
Region-wise, APAC captures the largest share of the market as of 2015 and is projected to keep on registering the highest CAGR. The region has come out as a main manufacturing hub due to the presence of countries like Japan, China, South Korea, and India, which is giving a boost to the demand for surface inspection systems across the region.
New research report “Surface Inspection Market” elaborated by M&M is devoted to giving an all-round picture of the marketplace from a global perspective. It provides market statistics relating to component, system, surface type, vertical, and geography alongside analysing and projecting their pertinent market size. The study offers Porter’s five forces analysis and an analysis of the value chain to present detailed insights into the surface inspection universe. Also, the report delves deep into the major driving and limiting factors, opportunities, and challenges for the market. It contains descriptive market segmentation, analysis, and forecast for markets by system, component, surface type, industry vertical, and geographic region.
The research publication canvasses the competitive landscape along with analysis and profiling key players and estimating their revenue.
For more cutting-edge research studies by M&M, follow the publisher’s page.