Top 2 Players in the Digital Inspection Market

Posted by Steve Stark on January 28th, 2021

The digital inspection market is expected to grow USD 27.84 Billion by 2023, at a CAGR of 7.2% between 2018 and 2023. The miniaturization of products offered by end-user industries, availability of customized solutions, and rapid industrialization in developed economies provide key opportunities for the market. Some of the key factors driving the growth of this market are the growing adoption of industrial automation and increasing consumer awareness.

Major players in the digital inspection market include General Electric (US), MISTRAS Group (US), Olympus (Japan), Hexagon (Sweden), Cognex (US), Nikon (Japan), Zetec (US), FARO Technologies (US), Basler (Germany), OMRON (Japan), Carl Zeiss (Germany), Mitutoyo (Japan), GOM (Germany), National Instruments (US), and Keyence (Japan). Key innovators in the market are iPromar (Singapore), FPrimeC Solutions (Canada), Shinning 3D Tech (China), Zebicon(Denmark), and SUALAB (South Korea). Most of the leading companies have followed the organic strategy of product launches to boost their revenues.

Top 2 Players in the Market:

General Electric (GE) is one of the world’s largest multinational conglomerates, operating as an infrastructural and financial services company worldwide. The company serves customers in ~180 countries. GE Oil & Gas Digital Solutions, previously GE Measurement and Control, is a business unit of GE Oil & Gas. This business unit deals in sensor-based measurement, inspection, controls, and radiation measurement solutions. It designs, manufactures, and serves NDT equipment used for ultrasonic, eddy current, radiographic, and remote visual inspection techniques. In the digital inspection market, the company offers a full suite of NDT solutions and equipment, including radiography, CT, remote visual inspection, ultrasound, eddy current, and hardness testing products. To grow in this market, the company has adopted organic growth strategies such as product launches and expansions.

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Hexagon is known worldwide for its integrated design, measurement, and visualization technologies. It provides information technology solutions for geospatial and industrial landscapes worldwide. The company is driving the process of smart change through digitalization, moving customers closer to fully digital businesses. Hexagon intends to lead the 3D scanning and metrology market by helping its customers overcome challenges faced by them during the inspection and measurement processes by providing them with a wide range of innovative solutions. Moreover, it considers innovation as one of its major business strategies. The company considers innovation as one of its major business strategies.