LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global inspection cameras market is projected to grow to USD 1,436.46 million by 2021, at a CAGR of nearly 10% over the forecast period.
This research report titled ‘Global Inspection Cameras Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The inspection cameras market is part of the surface vision industry. Surface vision is a technology that is used to provide imaging-based automatic inspection as well as analysis of the captured images of an object. Mass production in manufacturing industries is expected to drive the demand for inspection cameras.
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Based on the spectrum, the report categorizes the global inspection cameras market into the following segments:
- Ultraviolet spectrum
- Infrared spectrum
- Visible spectrum
“Ultraviolet spectrum inspection cameras are the most popular offering in the global market and is expected to be the fastest-growing segment. The higher efficiency of ultraviolet inspection cameras is driving their quick growth,” says Navin Rajendra, a lead analyst at Technavio for semiconductor equipment research.
There are two ways of using ultraviolet radiation in inspection cameras - reflected ultraviolet and ultraviolet induced fluorescence photography. Reflected ultraviolet is widely used for healthcare, criminology, and theatrical applications. Sunlight is the most abundantly available free UV radiation source and a bright day is rich in ultraviolet radiation.
The global inspection cameras market by infrared spectrum is expected to be worth USD 284.76 million by the end of 2017 and continue to grow quickly over the forecast period. In infrared spectrum inspection cameras, the image sensor used is sensitive to infrared light. An infrared passing filter is usually used to let only the infrared light pass through to the camera and block most of the visible light. The advantage of infrared spectrum cameras over the ultraviolet spectrum cameras is that ultraviolet spectrum inspection cameras require expertise to handle, whereas infrared spectrum inspection cameras are easier to handle.
“Visible spectrum inspected cameras occupied more than a quarter of the global market in 2016, and is expected retain its shares over the forecast period,” says Navin.
The wavelength of the visible spectrum ranges from 400 nm to 700 nm. Consumers usually buy full spectrum cameras to capture pictures in all the three light spectrums. However, infrared and ultraviolet spectrum cameras are used for specific applications and cannot be used interchangeably with full spectrum cameras.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Cognex Corporation
- FLIR Systems
- Olympus Corporation
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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