Market Overview:
The global industrial defect detection market is expected to grow at a CAGR of 7.5% from 2018 to 2030. The market growth is attributed to the increasing demand for quality products and the growing awareness about industrial defects detection among consumers. The traditional machine vision algorithm segment is expected to dominate the global industrial defect detection market during the forecast period. However, deep learning segment is projected to grow at a higher CAGR owing to its ability to detect minute defects in products with high accuracy. Among applications, large enterprise segment dominates the global industrial defect detection market, followed by SMEs segments.
Product Definition:
Industrial defect detection is the process of inspecting products and components for defects or abnormalities. The purpose of industrial defect detection is to identify and correct flaws in products before they are shipped to customers. By identifying and correcting defects early in the production process, companies can save money on rework and warranty claims, while also ensuring that their products meet customer expectations for quality.
Traditional Machine Vision Algorithm:
TMV (Traditional Machine Vision) algorithm is used for detecting and classifying defects in an image. It works on the principle of pattern recognition by using a video stream as a source. The TMV system consists of three major components, namely cameras, lightings and processors which work together to detect and identify various defects in an image. Cameras are used to capture the image from different perspective while processor analyzes captured images to detect any kind of defect present thereon.
Deep Learning:
Deep learning is a subset of artificial intelligence. It has been observed that deep learning algorithms are used for pattern recognition in data sets. Deep learning helps the computer to learn from experience without being explicitly programmed. In other words, it enables the computer to detect patterns in unstructured data by using neural networks and multiple layers of processing units called nodes.
The technology has been gaining popularity due to its ability to process large volumes of data with high speed.
Application Insights:
The large enterprise segment dominated the global market in terms of revenue in 2017. The high penetration of traditional machine vision algorithms and the growing need for advanced solutions to detect and identify defects are some factors contributing to its dominance over the forecast period.
SMEs application segment is expected to grow at a significant rate over the forecast period, owing to their limited resources, they can deploy cutting edge technology easily available in the market such as deep learning algorithms for defect detection thereby driving growth of this segment during future years.
Furthermore, companies operating in industries such as automotive or aerospace have been investing significantly on research & development activities related to advanced technologies that can help them detect even smaller defects with higher accuracy levels than before.
Regional Analysis:
Asia Pacific is expected to emerge as the fastest-growing region over the forecast period. The growth can be attributed to increasing investments in R&D and rising adoption of machine vision technology across numerous industrial applications. Moreover, growing demand for consumer electronics products such as smartphones and tablets from developing countries such as India and China is anticipated to drive regional market growth over the forecast period.
Growth Factors:
- Increasing demand for quality products: The industrial defect detection market is driven by the increasing demand for quality products. This is because the detection of defects in products at an early stage helps to improve the quality of the product and avoid any recalls or rejections that may occur downstream.
- Rising need for safety and security: With an increase in terrorist activities and other forms of crime, there is a rising need for safety and security across all industries, including those involved in manufacturing. Industrial defect detection systems help to ensure that products are safe before they are shipped to consumers, thereby mitigating any potential risks.
- Growing popularity of automated inspection systems: Automated inspection systems are becoming increasingly popular as they help speed up the inspection process while also reducing human error rates. They also allow manufacturers to inspect a greater number of items in a shorter time frame, making them more competitive in today’s global market place.
Scope Of The Report
Report Attributes
Report Details
Report Title
Industrial Defect Detection Market Research Report
By Type
Traditional Machine Vision Algorithm, Deep Learning
By Application
Large Enterprise, SMEs
By Companies
Scantron Corporation, IBM, Interuniversity Microelectronics Centre, Mubadala Investment Company, ASML Holding, The MathWorks, SK, MobiDev, Peltarion, AI First, Keyence, DEEPSIGHT
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
143
Number of Tables & Figures
101
Customization Available
Yes, the report can be customized as per your need.
Global Industrial Defect Detection Market Report Segments:
The global Industrial Defect Detection market is segmented on the basis of:
Types
Traditional Machine Vision Algorithm, Deep Learning
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Enterprise, SMEs
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Scantron Corporation
- IBM
- Interuniversity Microelectronics Centre
- Mubadala Investment Company
- ASML Holding
- The MathWorks
- SK
- MobiDev
- Peltarion
- AI First
- Keyence
- DEEPSIGHT
Highlights of The Industrial Defect Detection Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Traditional Machine Vision Algorithm
- Deep Learning
- By Application:
- Large Enterprise
- SMEs
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Industrial Defect Detection Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Industrial defect detection is the process of identifying and correcting manufacturing defects in products.
Some of the major companies in the industrial defect detection market are Scantron Corporation, IBM, Interuniversity Microelectronics Centre, Mubadala Investment Company, ASML Holding, The MathWorks, SK, MobiDev, Peltarion, AI First, Keyence, DEEPSIGHT.
The industrial defect detection market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Industrial Defect Detection Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Industrial Defect Detection Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Industrial Defect Detection Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Industrial Defect Detection Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Industrial Defect Detection Market Size & Forecast, 2018-2028
4.5.1 Industrial Defect Detection Market Size and Y-o-Y Growth
4.5.2 Industrial Defect Detection Market Absolute $ Opportunity
Chapter 5 Global Industrial Defect Detection Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Industrial Defect Detection Market Size Forecast by Type
5.2.1 Traditional Machine Vision Algorithm
5.2.2 Deep Learning
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Industrial Defect Detection Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Industrial Defect Detection Market Size Forecast by Applications
6.2.1 Large Enterprise
6.2.2 SMEs
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Industrial Defect Detection Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Industrial Defect Detection Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Industrial Defect Detection Analysis and Forecast
9.1 Introduction
9.2 North America Industrial Defect Detection Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Industrial Defect Detection Market Size Forecast by Type
9.6.1 Traditional Machine Vision Algorithm
9.6.2 Deep Learning
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Industrial Defect Detection Market Size Forecast by Applications
9.10.1 Large Enterprise
9.10.2 SMEs
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Industrial Defect Detection Analysis and Forecast
10.1 Introduction
10.2 Europe Industrial Defect Detection Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Industrial Defect Detection Market Size Forecast by Type
10.6.1 Traditional Machine Vision Algorithm
10.6.2 Deep Learning
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Industrial Defect Detection Market Size Forecast by Applications
10.10.1 Large Enterprise
10.10.2 SMEs
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Industrial Defect Detection Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Industrial Defect Detection Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Industrial Defect Detection Market Size Forecast by Type
11.6.1 Traditional Machine Vision Algorithm
11.6.2 Deep Learning
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Industrial Defect Detection Market Size Forecast by Applications
11.10.1 Large Enterprise
11.10.2 SMEs
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Industrial Defect Detection Analysis and Forecast
12.1 Introduction
12.2 Latin America Industrial Defect Detection Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Industrial Defect Detection Market Size Forecast by Type
12.6.1 Traditional Machine Vision Algorithm
12.6.2 Deep Learning
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Industrial Defect Detection Market Size Forecast by Applications
12.10.1 Large Enterprise
12.10.2 SMEs
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Industrial Defect Detection Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Industrial Defect Detection Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Industrial Defect Detection Market Size Forecast by Type
13.6.1 Traditional Machine Vision Algorithm
13.6.2 Deep Learning
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Industrial Defect Detection Market Size Forecast by Applications
13.10.1 Large Enterprise
13.10.2 SMEs
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Industrial Defect Detection Market: Competitive Dashboard
14.2 Global Industrial Defect Detection Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Scantron Corporation
14.3.2 IBM
14.3.3 Interuniversity Microelectronics Centre
14.3.4 Mubadala Investment Company
14.3.5 ASML Holding
14.3.6 The MathWorks
14.3.7 SK
14.3.8 MobiDev
14.3.9 Peltarion
14.3.10 AI First
14.3.11 Keyence
14.3.12 DEEPSIGHT
