Defect detection has become very technology-driven as a result of continual breakthroughs in artificial intelligence and big data.
Covid-19 Impact & Market Status
The COVID-19 outbreak has thrown a wrench in the worldwide demand and supply chain. The imposition of complete or partial lockdown in a number of emerging countries around the world, particularly China, has harmed the growth of a variety of businesses.
Furthermore, other stakeholders buy defect detection components from these companies for various business sectors. Furthermore, the COVID-19 pandemic has harmed the detection of defects.
Defect Detection Market Size was estimated at USD 3.67 billion in 2022 and is anticipated to grow at a CAGR of 7.8% over the forecast period of 2023–2030, reaching USD 6.70 billion by 2030.
COVID-19 has had a short-term impact on the operations of a number of defect detection manufacturers, as well as their suppliers and distributors' companies. The COVID-19 outbreak has thrown a wrench in the worldwide demand and supply chain. The imposition of complete or partial lockdown in a number of emerging countries around the world, particularly China, has harmed the growth of a variety of businesses. Furthermore, various stakeholders purchase these organizations' defect detection components for various business verticals.
Furthermore, the COVID-19 pandemic has had a negative impact on defect detection. This might be linked to the fact that manufacturing facilities use defect detection technologies to detect any manufacturing flaws in the final products.
Restriction: In manufacturing firms, there is a scarcity of skilled professionals
There is a great deal of dependence on human experience and senses in the industrial industry. However, the scarcity of trained experts has recently become a more pressing issue; as a result, firms must automate operations that rely on people, such as manufacturing, assembly, product testing and inspection, and transportation.
Problem: Implementation of defect detection solutions and technologies is too complicated
Increasing competition, increasing business volatility, and ongoing technical improvements all need to change the way manufacturing businesses function and expand. Organizations must create seamless manufacturing to fulfill the aforementioned goals.
APAC is predicted to grow at the quickest CAGR throughout the projection period.
India, China, Japan, and South Korea have some of the world's largest industrial facilities, with automation as a primary priority. The market is expected to grow due to rapid industrialization, the presence of well-established semiconductors, food and packaging, and automotive industries.
Smart cameras and AI-driven systems are already supporting manufacturers in providing high-quality inspection in shorter cycles, lowering latency and costs, and defining new demands that are impossible to accomplish even by highly skilled human inspectors.
The significant focus of manufacturers on quality assurance systems and automating quality control, as well as strict health and safety restrictions placed on global production by governments and standards organizations are driving the expansion of the defect detection market.
Machine learning and defect prediction models are used in AI quality control solutions to automatically learn and produce insights from factory data. Rather than relying on expert rules like their previous machine vision equivalents, these models can learn on their own that functions are important and generate new rules that determine which combinations of functions can influence overall product quality.
One of the key factors driving the regional defect detection market is the growing digitization of various nations in the region. Furthermore, governments across the area are taking a variety of steps to encourage businesses to invest more in their digital infrastructure and improve the effectiveness and efficiency of their production and manufacturing processes.
Microsoft (US), Amazon Web Services (US), KEYENCE (Japan), Datalogic (Italy), IBM (US), OMRON Corporation (Japan), Cognex Teledyne Technologies (US), Corporation (US), ISRA VISION (Germany), and Matrox Electronic Systems are among the leading firms in the defect detection market (Canada). Manufacturing facilities and corporate offices for these companies are located throughout Asia Pacific, Europe, North America, and Rows.
Latest Innovations in the Global Defect Detection Market: a Snapshot
• In August 2021, OMRON announced the VT-S10 Series PCB inspection system, which uses an industry-first imaging technology and artificial intelligence to automate the high-precision inspection process for electronic substrates, removing the requirement for specialised knowledge.
• Amazon Web Services and Salesforce announced a significant expansion of their global strategic partnership in June 2021, enabling customers to quickly deploy and build powerful new business applications that accelerate digital transformation by combining the full set of Salesforce and AWS capabilities.
Defect Detection Market Scope
|Revenue forecast in 2030
|USD 6.70 billion
|CAGR of 7.8 % during 2020-2030
|By Offering, By Application, By Vertical, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Microsoft, IBM, Amazon Web Services, OMRON Corporation, Cognex Corporation, Teledyne Technologies, ISRA VISION, KEYENCE, Datalogic, Matrox Electronic Systems
Key Segments of the Global Defect Detection Market
Offering Overview, (USD Billion)
Application Overview, (USD Billion)
Vertical Overview, (USD Billion)
- Metals & Machinery
- Electronics & Semiconductors
- Food and Packaging
Regional Overview, (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa