Inspection Camera System Market to Incur Meteoric Growth During 2022 to 2030: Grand View Research Inc.

Posted by Sona Kulkarni on November 2nd, 2023

Inspection Camera System Market Growth & Trends

The global inspection camera system market size is expected to reach USD 729.0 million by 2030, registering a CAGR of 10.7% during the forecast period, according to a new study by Grand View Research Inc. The ability of these cameras to articulate in the industrial application helps provide a better view of the machine’s inner workings; also, the usage of the inspection camera for visual inspection is one factor that propels the market growth. Providing proper maintenance of the sewer systems in commercial, residential, institutional, and public locations for the disposal of safe water and preventing the stagnation of contaminated water is also favoring the market's growth.

Manufacturers have numerous growth opportunities as they adopt innovations, modify the systems, and provide technological improvement along with investments in the research and development of inspection camera systems. For instance, ISRA VISION introduced a new camera-based inline inspection system equipped with updated features and advanced software tools. A few inspection camera systems are battery operated; the manufacturers are inspecting technology that makes their lithium-ion batteries reliable, long-lasting, and with lesser potential errors and defects. Pharmaceutical industries and semiconductor industries' requirements for inspection cameras are increasing.

Pharmaceutical industries require miniature microscopes used for endoscopes, etc., as the requirement for 1.6mm lumens visual inspection in endoscopes and medical instruments. Pharmaceutical industries and drug manufacturers are investing heavily in R&D activities to produce new vaccines and drugs; also, the government is implying regulations against the quality and supply of the drugs. North America dominated the global industry in 2021 and is likely to continue the trend during the forecast period. Rapid industrialization and municipal expansion, along with the need for video inspection, are fueling the demand for inspection camera systems.

Governments also prohibit personnel from entering the sewer pipeline systems for surveying and maintenance. The Asia Pacific region is estimated to register the fastest growth rate during the forecast period on account of the rapid industrialization and commercialization, which increase the usage of inspection camera systems. The government of India announced that over 560,000 kilometers of optical fiber cable have been laid around the country under the BharatNet Project. Inspection and maintenance of this vast cable network are conducted with the help of an inspection camera system owing to the presence of silica in the wire.

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Inspection Camera System Market Report Highlights

• The pipeline inspection segment accounted for the largest revenue share in 2021 and will remain dominant throughout the forecast period
• As per the video quality, the SD & HD segment will lead the industry over the forecast years
• The hardware component segment accounted for the largest share of the global industry in 2021 due to the invention, improvement, and technological development of the inspection camera systems
• Europe is expected to record a considerable growth rate from 2022 to 2030 owing to the requirement of vast natural gas pipeline projects that run between multiple European countries

Access Press Release@ https://www.grandviewresearch.com/press-release/global-inspection-camera-system-market

Inspection Camera System Market Segmentation

Grand View Research has segmented the global inspection camera system market based on component, video quality, application, distribution channel, end-use, and region:

Inspection Camera System Component Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• Hardware
• Services

Inspection Camera System Video Quality Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• SD & HD
• Full HD & 4K

Inspection Camera System Application Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• Pipeline Inspection
• Drain Inspection
• Tank
• Medical Inspection
• Others

Inspection Camera System Distribution Channel Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• Online
• In-Store

Inspection Camera System End-use Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• Industrial
• Commercial
• Municipal
• Others

Inspection Camera System Regional Outlook (Volume, Thousand Units; Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK.
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa

List of Key Players of the Inspection Camera System Market

• By Hardware Providers
  • Basler AG
  • Leica Microsystem (Danaher Corp.)
  • Clarus Medical LLC
  • Eddyfi Technologies
  • Minicam Group (Halma plc)
  • iPEK International GmbH (IDEX Corp.)
  • NDT Technologies (P) Ltd.
  • CUES Inc.
  • OMNIVISION
  • C. LERCHER Solutions GmbH
• By Service Providers
  • Canon Inc.
  • Omron Corp.
  • Pleora Technologies Inc.
  • eInfochips
  • Kintronics Inc.
  • Pro-Vigil
  • CameraFTP
  • Camcloud
  • Exacq Technologies (Johnson Controls)
  • Stealth Monitoring

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.