LONDON--(BUSINESS WIRE)--Technavio has been monitoring the industrial automation market in food safety and inspection industry and it is poised to grow by USD 553.48 million during 2020-2024, progressing at a CAGR of 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- Which is the leading segment based on product in the market?
- The machine vision systems is forecasted as the leading segment based on product during the forecast period.
- What is the major trend for market?
- Growing benefits of inspecting bulk foods in-line is a major growth factor for the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of almost 5%, the incremental growth of the market is anticipated to be USD 553.48 million.
- What are the top players in the market?
- Advantech Co. Ltd., Clarke Solutions LLC, Cognex Corp., Illinois Tool Works Inc., Inspection Systems Pty Ltd., John Bean Technologies Corp., Mettler-Toledo International Inc., Peco InspX, Teledyne Technologies Inc., and Thermo Fisher Scientific Inc. are some of the major market participants.
- What are the key market drivers and challenges?
- Significant cost savings in operations and growing benefits of inspecting bulk foods in-line are the major factors driving the market. However, the volatility in prices of raw materials will restrain market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Advantech Co. Ltd., Clarke Solutions LLC, Cognex Corp., Illinois Tool Works Inc., Inspection Systems Pty Ltd., John Bean Technologies Corp., Mettler-Toledo International Inc., Peco InspX, Teledyne Technologies Inc., and Thermo Fisher Scientific Inc. are some of the major market participants. The significant cost savings in operations will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in fast-growing segments, while maintaining their position in the slow-growing segments.
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Industrial Automation Market in Food Safety and Inspection Industry 2020-2024: Segmentation
Industrial Automation Market in Food Safety and Inspection Industry is segmented as below:
- Machine Vision Systems
- X-ray Inspection Systems
- Metal Detection Systems
- Checkweighing Systems
- North America
- South America
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Industrial Automation Market in Food Safety and Inspection Industry 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The industrial automation market in food safety and inspection industry report covers the following areas:
- Industrial Automation Market Size in Food Safety and Inspection Industry
- Industrial Automation Market Trends in Food Safety and Inspection Industry
- Industrial Automation Market Analysis in Food Safety and Inspection Industry
This study identifies growing benefits of inspecting bulk foods in-line as one of the prime reasons driving the industrial automation market growth in food safety and inspection industry during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Industrial Automation Market in Food Safety and Inspection Industry 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist industrial automation market growth in food safety and inspection industry during the next five years
- Estimation of the industrial automation market size in food safety and inspection industry and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial automation market in food safety and inspection industry
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of industrial automation market vendors in food safety and inspection industry
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- Machine vision systems - Market size and forecast 2019-2024
- X-ray inspection systems - Market size and forecast 2019-2024
- Metal detection systems - Market size and forecast 2019-2024
- Checkweighing systems - Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Competitive scenario
- Vendors covered
- Market positioning of vendors
- Advantech Co. Ltd.
- Clarke Solutions LLC
- Cognex Corp.
- Illinois Tool Works Inc.
- Inspection Systems Pty Ltd.
- John Bean Technologies Corp.
- Mettler-Toledo International Inc.
- Peco InspX
- Teledyne Technologies Inc.
- Thermo Fisher Scientific Inc.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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