Inspection Machines Market to Be Worth $2.15 Billion by 2031 - Exclusive Report by Meticulous Research®

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Jun 03, 2024, 10:46 ET

REDDING, Calif., June 3, 2024 /PRNewswire/ -- According to a new market research report titled, 'Inspection Machines Market by Offering (Hardware, Software), Automation Mode (Automatic Inspection, Semi-automatic Inspection, Manual Inspection), End User (Pharmaceutical and Biotech, Food and Beverages), and Geography - Global Forecast to 2031,' the Inspection Machines market is projected to reach $2.15 billion by 2031, at a CAGR of 9.1% from 2024–2031.

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Inspection machines or inspection systems are designed to inspect products, materials, or components for defects, inconsistencies, or quality issues. The machines are based on various technologies including vision, sensors, lasers, and software algorithms to detect flaws or deviations from specified standards. Inspection machines have become an essential component of any manufacturing/ processing unit to ensure quality standards, minimize defects, reduce waste, and maintain customer satisfaction. Factors such as stringent government regulations with respect to quality standards, growing demand for automated inspection systems, and the need to eliminate human error within testing and inspection are promoting the growth of modern inspection machines.

Consistent integration of advanced technologies such as IoT and AI allows real-time inspection to take over traditional inspection methods and machines. This has allowed manufacturing units to comply with stringent production philosophies such as Six Sigma and Kanban. Besides, other advantages such as elevating product presentation, safeguarding brand reputation, and saving valuable resources and associated costs further signify the importance of inspection machines.

The growth of the inspection machines market is driven by stringent government regulations & compliances related to product quality & safety, the increasing adoption of Industry 4.0 technologies, and the growing demand for automated inspection processes. However, high initial investment requirements and the shortage of skilled personnel restrain the growth of this market.

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Furthermore, the technological advancements in inspection machines and the increasing outsourcing of manufacturing operations in emerging economies are expected to generate growth opportunities for the stakeholders in this market. However, the efficient integration of inspection machines with existing production lines is a major challenge impacting the growth of the inspection machines market.

The global inspection machines market is segmented by offering (hardware (industrial inspection microscopes, automatic gauge measurement systems, metal detection machines, vision inspection machines, x-ray inspection machines, weighing and counting machines, leak detection machines, and other inspection machines), software), automation mode (automatic inspection, semi-inspection, manual inspection), end user (pharmaceutical & biotech (injectable formulations, non-injectable formulations), food and beverages, industrial manufacturing, electronics & semiconductor, cosmetics & personal care, other end users). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on offering, the inspection machines market is segmented into hardware and software. In 2024, the hardware segment is expected to account for the larger share of 73.2% of the inspection machines market. The large market share of this segment is attributed to the growing adoption of inspection machine hardware in the manufacturing sector, increasing R&D expenditure, and rising regulatory compliance with good manufacturing practices.

However, the software segment is projected to register the highest CAGR during the forecast period due to factors such as the growing adoption of inspection machine software in various industrial applications, the rising need for efficient, accurate, and reliable inspection processes, and the rising need for quality control and real-time monitoring.

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Based on automation mode, the global inspection machines market is segmented into automatic inspection, semi-automatic inspection, and manual inspection. In 2024, the automatic inspection segment is expected to account for the largest share of the global Inspection Machines market. The large market share of this segment is attributed to its benefits over manual and semi-automated inspection modes and the rising use of automatic inspection machines by manufacturers for real-time monitoring of the manufacturing process. Automatic inspection machines help increase efficiency by replacing manual inspection processes with automated ones, which helps eliminate special training for the users and saves labor.

Based on end user, the global inspection machines market is segmented into industrial manufacturing, pharmaceutical & biotech, cosmetics & personal care, food & beverages, electronics & semiconductors, and other end users. In 2024, the pharmaceutical & biotech segment is expected to account for the largest share of 37% of the inspection machines market. The large share of the segment is attributed to the stringent regulatory requirements for product quality & safety, increasing adoption of automation & technological advancements in inspection systems, growing demand for biopharmaceuticals, biosimilars, & personalized medicines, and rising focus on reducing production costs, minimizing product recalls, & improving overall manufacturing efficiency.

Based on geography, the inspection machines market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of 63.3% of the inspection machines market. The Asia-Pacific inspection machines market is estimated to be worth USD 743 Million in 2024. The growth of this market can be attributed to the increasing manufacturing activities across several industries, including pharmaceutical and biotech, food & beverage, and cosmetics. The growing demand for quality products from these industries creates potential opportunities for the players in this market. Furthermore, technologically advanced countries, such as China, Japan, South Korea, Taiwan, and India, are expected to offer significant market growth opportunities in the coming years.

The key players operating in the global inspection machines market are Thermo Fisher Scientific Inc. (U.S.), Teledyne Technologies Incorporated (U.S.), Körber AG (Germany), Robert Bosch GmbH (Germany), OMRON Corporation (Japan), Optel Vision Inc. (Canada), Cognex Corporation (U.S.), Brevetti CEA SpA (Italy), Antares Vision S.p.A. (Italy), ACG (India), IRIS Inspection Machines (France), Sys-Tech Solutions, Inc. (U.S.), ALLTEC Angewandte Laserlicht Technologie GmbH (Germany), Sea Vision S.r.l. (Italy), and CMP PHAR.MA S.R.L. (Italy).

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Scope of the Report:

Inspection Machines Market Assessment—by Offering

Hardware
- Industrial Inspection Microscopes
- Automatic Gauge Measurement System
- Metal Detection Machines
- Vision Inspection Machines
- X-ray Inspection Machines
- Weighing and Counting Machines
- Leak Detection Machines
- Other Inspection Machines
Software

Inspection Machines Market Assessment—by Automation Mode

Automatic Inspection
Semi-automatic Inspection
Manual Inspection

Inspection Machines Market Assessment—by End User

Pharmaceutical & Biotech
- Injectable Formulations
- Non-Injectable Formulations
Food and Beverages
Industrial Manufacturing
Electronics & Semiconductor
Cosmetics and Personal Care
Other End Users

Inspection Machines Market Assessment—by Geography

Asia-Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Rest of Asia-Pacific
North America
- U.S.
- Canada
Europe
- Germany
- Italy
- France
- U.K.
- Spain
- Sweden
- Netherlands
- Rest of Europe
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- UAE
- Saudi Arabia
- Rest of Middle East & Africa

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