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Global defect detection market to reach USD 5.5 billion by 2027.

Global Defect Detection Market Size study, by Offering (Hardware, Software, Services), by Application (Manufacturing, Packaging), by Vertical (Automotive, Electronics & Semiconductors, Metals & Machinery, Food and Packaging, Pharmaceuticals), and Regional Forecasts 2021-2027

Product Code: OIRIME-10884995
Publish Date: 30-11-2021
Page: 200

Global defect detection market is valued approximately at USD 3.3 billion in 2020 and is anticipated to grow with a healthy growth rate of about 7.5% over the forecast period 2021-2027. Defect detection at the time of manufacturing processes is a crucial step to ensure quality of the product. The timely detection of defects or faults and taking the required and appropriate actions are important to reduce quality and operation-related costs. The global defect detection market is being driven by high demand for application-specific integrated circuits (ASICs) and stringent health and safety measures imposed by governments and standards organizations on global manufacturing firms. Furthermore, increasing adoption of artificial intelligence (AI) technology in defect detection will provide new opportunities for the global defect detection industry. There has been increase in the demand for artificial intelligence technology across the globe. According to Statista, revenues from the artificial intelligence market across the globe is expected to increase from USD 341.8 billion in 2021 to approximately USD 0.5 trillion by 2024. Such growth in the market revenue share of artificial intelligence is expected to increase its adoption and deployment in the defect detection industry and hence this is expected to boost the market growth. However, dearth of skilled professionals in manufacturing factories may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global defect detection market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific accounts for the largest share in terms of market revenue in the global defect detection market over the forecast period 2021-2027. Factors such as largest manufacturing facilities in countries such as Japan, China, India, and South Korea, where automation is accorded the highest priority, presence of well-established food & packaging, semiconductors, and automotive industries, rapid industrialization, investments in the R&D, implementation of industrial internet of things (IIoT) with other industrial automation solutions, etc. contribute towards the largest market share of the region in the forecast years.

Major market player included in this report are:
Amazon Web Services
OMRON Corporation
Cognex Corporation
Teledyne Technologies
Matrox Electronic Systems

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Offering:
By Application:
By Vertical:
Electronics & Semiconductors
Metals & Machinery
Food and Packaging
By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.

Target Audience of the Global Defect Detection Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Defect Detection Market, by Region, 2019-2027 (USD Billion)
1.2.2. Defect Detection Market, by Offering, 2019-2027 (USD Billion)
1.2.3. Defect Detection Market, by Application, 2019-2027 (USD Billion)
1.2.4. Defect Detection Market, by Vertical, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Defect Detection Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Defect Detection Market Dynamics
3.1. Defect Detection Market Impact Analysis (2019-2027)
3.1.1. Market Drivers High demand for application-specific integrated circuits (ASICs) Stringent health and safety measures imposed by governments and standards organizations on global manufacturing firms
3.1.2. Market Restraint Dearth of skilled professionals in manufacturing factories
3.1.3. Market Opportunities Increasing adoption of artificial intelligence (AI) technology in defect detection
Chapter 4. Global Defect Detection Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Defect Detection Market, by Offering
a. Market Snapshot
5.1. Global Defect Detection Market by Offering, Performance – Potential Analysis
5.2. Global Defect Detection Market Estimates & Forecasts by Offering 2018-2027 (USD Billion)
5.3. Defect Detection Market, Sub Segment Analysis
5.3.1. Hardware
5.3.2. Software
5.3.3. Services
Chapter 6. Global Defect Detection Market, by Application
b. Market Snapshot
6.1. Global Defect Detection Market by Application, Performance – Potential Analysis
6.2. Global Defect Detection Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
6.3. Defect Detection Market, Sub Segment Analysis
6.3.1. Manufacturing
6.3.2. Packaging
Chapter 7. Global Defect Detection Market, by Vertical
c. Market Snapshot
7.1. Global Defect Detection Market by Vertical, Performance – Potential Analysis
7.2. Global Defect Detection Market Estimates & Forecasts by Vertical 2018-2027 (USD Billion)
7.3. Defect Detection Market, Sub Segment Analysis
7.3.1. Automotive
7.3.2. Electronics & Semiconductors
7.3.3. Metals & Machinery
7.3.4. Food and Packaging
7.3.5. Pharmaceuticals
Chapter 8. Global Defect Detection Market, Regional Analysis
8.1. Defect Detection Market, Regional Market Snapshot
8.2. North America Defect Detection Market
8.2.1. U.S. Defect Detection Market Offering breakdown estimates & forecasts, 2018-2027 Application breakdown estimates & forecasts, 2018-2027 Vertical breakdown estimates & forecasts, 2018-2027
8.2.2. Canada Defect Detection Market
8.3. Europe Defect Detection Market Snapshot
8.3.1. U.K. Defect Detection Market
8.3.2. Germany Defect Detection Market
8.3.3. France Defect Detection Market
8.3.4. Spain Defect Detection Market
8.3.5. Italy Defect Detection Market
8.3.6. Rest of Europe Defect Detection Market
8.4. Asia-Pacific Defect Detection Market Snapshot
8.4.1. China Defect Detection Market
8.4.2. India Defect Detection Market
8.4.3. Japan Defect Detection Market
8.4.4. Australia Defect Detection Market
8.4.5. South Korea Defect Detection Market
8.4.6. Rest of Asia Pacific Defect Detection Market
8.5. Latin America Defect Detection Market Snapshot
8.5.1. Brazil Defect Detection Market
8.5.2. Mexico Defect Detection Market
8.6. Rest of The World Defect Detection Market
Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Microsoft Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. IBM
9.2.3. Amazon Web Services
9.2.4. OMRON Corporation
9.2.5. Cognex Corporation
9.2.6. Teledyne Technologies
9.2.8. KEYENCE
9.2.9. Datalogic
9.2.10. Matrox Electronic Systems
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
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Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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