Virtual Inspection Market Status, Key Vendors Analysis and Regional Outlook 2019-2023

09th July 2020 – The global Virtual Inspection Market is expected to display higher growth rate in the upcoming years due to increasing demand from end-use industries and development of virtual inspection enabling technologies. Availability of several deployment models for remote virtual inspection service is expected to drive the growth of virtual inspection market over the forecast period. Rise in number of market acquisitions, partnerships and collaboration efforts by industry participants, is leading to the robust industry growth over the past few years.

Virtual inspection services allows end-use industries to achieve operational efficiency during different manufacturing processes. Deployment of low cost strategy to implement virtual inspection and remote operation capabilities are anticipated to fuel market demand over the coming years. Growing adoption of virtual inspection services in aerospace industry to maximize the performance and quality of manufactured components, alongside ensuring their features as per their specifications are estimated to augment market demand in the upcoming years.

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Virtual inspection systems containing machine vision audio\video cameras, analog to digital conversion systems, and digital signal processors are increasingly used in automotive industry and real estate industry. Other application of virtual inspection services include surface defect detection, surface auto-vision, and autonomous underwater vehicles. These factors are expected to boost the growth of virtual inspection market over the forecast period.

Rise in the use of virtual inspection services in healthcare sector for inspection of various medical equipment is projected to favor market growth over the forecast period. Common application of virtual inspection services in medical field include CT scanner inspections, MRI system inspections, PET/CT system inspections, linear accelerator inspections, and tom therapy or cyber knife system inspections.

The virtual inspection market is broadly categorized into six major segments based on the application type such as healthcare sector, automotive industry, aerospace sector, consumer electronics sector, real estate industry, and oil & gas industry. Healthcare segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of virtual inspection services in the healthcare segment is attributed to the rising market penetration and easy availability.

Key Players Analysis Covered in these report

  • Omron
  • Panasonic
  • Toshiba
  • BST Eltromat International
  • Edmund Optics
  • Elbit Vision Systems
  • Electron Scientific industries
  • EPIC Systems
  • IMS Systems
  • ISRA Vision
  • Jenoptik
  • Konica Minolta
  • Matrox Imaging
  • Microscan Systems

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On the basis of regions, the virtual inspection market is divided into Germany, UK, Japan, India, China, France, United States, Canada, and Spain. In Germany, Spain, and UK, the virtual inspection industry is projected to observe a steady CAGR over the forecast period. Rising import & export activities in these regions are further fostering regional demand over the coming years.

The United States market has witnessed major growth during the past few years due the rapid industrialization and recent technological advancement in healthcare sector. Japan is anticipated to perceive substantial growth, which is attributed to growing production by regional companies including Panasonic Corp., and Toshiba Corp.

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