According to the latest report by IMARC Group, titled "Industrial X-ray Inspection Equipment and Imaging Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global industrial x-ray inspection equipment and imaging software market reached a value of US$ 658.1 Million in 2021. Industrial x-ray inspection equipment and imaging software are mainly utilized for testing defects in various industrial objects. They are non-destructive testing methods generally used to examine the internal structure and integrity of various types of industrially manufactured products. As a result, they are considered to be an important step in the production process to verify product conformity as well as detect, analyze and measure difficult or concealed features in order to recognize actual or latent problems and faults. Besides this, they also provide real-time feedback results to control and help optimize the manufacturing process.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Industrial X-ray Inspection Equipment and Imaging Software Market Trends:
The global market is primarily driven by significant growth in the manufacturing industry. Along with this, the widespread deployment of automation in the production process on account of rapid digitization is creating a positive outlook. Moreover, continual technological advancements and the integration of the internet of things (IoT) and artificial intelligence (AI) with inspecting equipment are providing an impetus to the market growth. Additionally, numerous leading players are heavily investing in developing advanced equipment in order to gain a competitive edge, which is also impacting the market favorably. Furthermore, numerous initiatives undertaken by the governments of several countries by implementing stringent rules and regulations regarding safety and quality standards are significantly supporting the product demand on the global level. Other factors, including rapid urbanization and industrialization, the developing trend of product miniaturization, continuous product innovations and extensive research and development (R&D) activities conducted by key players to introduce improved product variants, are also positively influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 1,015.6 Million by 2027, exhibiting a CAGR of 7.10% during 2022-2027.
- On the basis of the image type, the market has been segmented into 2D, 3D and 4D.
- Based on the technology, the market has been segregated into film–based and digital imaging (computed tomography, computed radiography and direct radiography).
- On the basis of the offering, the market has been categorized into equipment and software.
- Based on the end-use industry, the market has been bifurcated into oil and gas, aerospace, food industry and construction, automotive and manufacturing, energy and power, semiconductor and electronics and others.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?Some of the key players include Carestream Health, DÜRR NDT GmbH & Co. KG, General Electric Company, Hamamatsu Photonics K.K., Hitachi Ltd., Nikon Corporation, North Star Imaging Inc. (Illinois Tool Works Inc.), Olympus Corporation, OMRON Corporation, Rigaku Corporation, Teledyne Technologies Inc, Thermo Fisher Scientific Inc. and YXLON International (Comet Holding).
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