The Global Inspection Camera System Market size is expected to reach $561.9 million by 2028, rising at a market growth of 11.0% CAGR during the forecast period

December 21, 2022

New York, Dec. 21, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Global Inspection Camera System Market Size, Share & Industry Trends Analysis Report By Component, By Application, By Video Quality, By Distribution Channel, By End-use, By Regional Outlook and Forecast, 2022 - 2028" - They are perfect for remote viewing; in other words, they are tools for peering into confined spaces.The handheld base unit is often linked to a long, flexible probe or arm. On the probe’s tip is the camera module. Once the inspection camera is in place, the display will show what it sees. For the most part, a tiny screen is used to view the live video broadcast. Other types can function wirelessly, sending the pictures they take to a phone or computer over WiFi.The primary factor fueling the market expansion during the projection period is the rise in utilisation of the inspection camera system in municipal corporations to avoid the blockage of drainage and sewer systems.The market acceptance is increasing due to the desire for inspection and getting a complete view of the inner workings of diverse machinery at various inspection facilities. Inspection camera systems are utilized to assess physical parameters, including resistance, voltage, frequency, and current, as they are used as surveillance equipment in the industrial and commercial sectors.COVID-19 Impact AnalysisThe COVID-19 pandemic had a significant negative impact on practically every industry’s operations. Regulatory organizations worldwide are compelled to enforce stringent lockdowns and travel bans as the COVID-19 pandemic outbreak develops. Additionally, this significantly impacted the market growth for inspection camera systems. The COVID-19 epidemic impacted the supply chain systems since many essential machinery and supplies heavily depend on imports from other nations. Additionally, the industries were forced to operate with a small workforce due to the strict directives of the regulatory authorities to adhere to social distance norms, which resulted in a decline in the sectors’ output rates. Therefore, the market for inspection camera systems was significantly influenced by all these causes.Market Growth FactorsWork That Is Manual Can Be AutomatedAn IoT-based condition monitoring network eliminates manual data logging and reduces the need for routine field inspections. In addition to lowering human error rates, this lowers costs and boosts worker productivity because it allows them to concentrate on other crucial tasks. Reduced site visits, especially in rural areas, result in fewer truck trips overall, which saves fuel and lowers CO2 emissions.Increased Demand For Cameras In The Healthcare IndustrySocioeconomic conditions in the population have fluctuated over several years. Globally, the population that is 65 years of age or older is steadily growing. More Americans than ever before who are 65 years old and more established are living in the United States today. The elderly population must endure the negative impacts of numerous chronic illnesses worldwide. In the modern era, three out of every four Americans aged 65 and older need to manage health issues like cardiovascular disease, diabetes, malignant development, or persistent respiratory infections.Market Restraining FactorsLack Of Concern From Operators On The Implementation Of The Monitoring SystemDue to a lack of knowledge and experience, pipeline companies have long avoided using cyber and network security solutions. Additionally, the network security solutions provided by IT firms lacked scalability and were typically only available in isolation. Because of this, selection of specific pipeline network monitoring technologies is challenging for pipeline operators. Additionally, IT security companies need help to persuade operators of the importance of network and physical monitoring systems. A significant barrier for suppliers of monitoring solutions in the oil and gas sector is the lack of knowledge and anxiety among operators over the deployment of monitoring systems.Component OutlookBased on Components, the Inspection Camera System Market is divided into Hardware and Services. The services section is anticipated to increase at the quickest rate throughout the projection period in 2021. Technology advancements in inspection camera systems are also linked to aftermarket assistance and training services the players offer. To meet the increasing demand, manufacturers are diversifying their product lines.Video Quality OutlookBased on Video Quality, the Inspection Camera System Market is divided into SD & HD and Full HD & 4K. As key companies increase their expenditures in inspection camera systems to improve video quality at higher resolutions, the full HD & 4K sector is anticipated to proliferate over the projected period. For example, Visera’s 4K UHD medical camera inspection technology for general operations offers doctors and health inspectors UHD images and colors that are appropriate for the clinical discipline.Application OutlookBased on Application, the Inspection Camera System Market is divided into Pipeline Inspection, Drain Inspection, Tank Inspection, Medical Inspection, and Others. This Pipeline Inspection segment dominated the worldwide industry in 2021 and registered the largest share. Depending on uses in the pipeline, such as the transportation of water, the transport of oil and gas or the deployment of wires and cables, the demand for an inspection camera system for leakage protection, the detection of unwanted cracks, the management of unwanted corrosion, and many more increases.Distribution Channel OutlookBased on Distribution Channel, the Inspection Camera System Market is divided into Online and In-Store. In 2021 and throughout the whole period of the forecast, the in-store distribution channel segment dominated the worldwide industry. Consumers choose to make purchases offline due to their enjoyable experiences at offline stores. The decision by consumers to transition from traditional in-store purchases to online purchases, which may take more time, is based on various factors.End-use OutlookBased on End-use, the Inspection Camera System Market is divided into Industrial, Commercial, Municipal, and Others. The industrial end-use segment accounted for a significant share in 2021. An inspection camera accurately monitors intricate and small parts of industrial machinery, including cables, pipes, and more. The industrial sector includes water treatment facilities, oil and gas refineries, and other significant industries that need regular maintenance for corrosion, leaks, and cracks.Regional OutlookBased on geography, the Inspection Camera System Market is divided into North America, Europe, Asia Pacific, and LAMEA. In 2021, North America contributed the largest revenue share to the market globally. The development of the industrial core contributes to the growth of the area. The requirement for sophisticated video inspection equipment to support local industrial and governmental growth drives the demand for inspection camera systems. The Pipeline and Hazardous Materials Safety Administration of the US Department of Transportation has several regulations in place for pipeline operators, covering anything from safety standards to equipment repair and leak prevention.The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Leica Microsystems GmbH is the major forerunner in the Inspection Camera System Market. Companies such as Canon, Inc., SPX Corporation and Omron Corporation are some of the key innovators in Inspection Camera System Market.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Basler AG, Leica Microsystems GmbH (Danaher Corporation), Eddyfi Technologies, OmniVision Technologies, Inc., Canon, Inc., Omron Corporation, Pleora Technologies, Inc., Clarus Medical LLC, Kintronics Inc., and SPX Corporation.Recent strategies deployed in Inspection Camera System MarketPartnerships, Collaborations & AgreementsOct-2022: OmniVision came into partnership with AdaptivEndo, the company leading the breakthrough in single-use endoscopy technology. The partnership aims to deliver a unified and flexible platform for single-use and hybrid endoscopes, comprising systems utilized for hepatology, gynecology, gastroenterology, urology, and advanced endoscopic surgery. This system utilizes the former company’s image sensors for high-performance imaging and simplified controls.Nov-2021: OmniVision Technologies partnered with Diaspective Vision GmbH, a developer of high-quality multispectral and hyperspectral camera systems for medical applications. The partnership was focused on the development of the MALYNA system, a new kind of endoscopic camera. Diaspective Vision combined its innovative multispectral camera technology with OmniVision’s medical image sensor for enabling new approaches to medical imaging.Jan-2020: Pleora Technologies announced a partnership with perClass BV, a provider of software tools for the interpretation of spectral images and the development of industrial machine learning solutions. The partnership aims to simplify the deployment of machine-learning hyperspectral imaging for inspection applications.Mergers & AcquisitionsMay-2022: Basler acquired Advanced Technologies, a distributor of vision components from various manufacturers. The acquisition helped Basler in fulfilling its strategy by transforming from a camera marker to a provider of a wide range. Additionally, this acquisition strengthened the company’s business in the European region.Jan-2022: Eddyfi took over Zetec, a subsidiary of Roper Technologies. The acquisition enhanced Eddyfi’s expertise and completed its market coverage.Oct-2021: Canon took over Redlen Technologies, a company that powers next-gen AI-driven imaging for medicine, security screening, and non-destructive testing with the world’s most advanced CZT sensors. The acquisition added advanced imaging and radiation detection technology utilized in CZT semiconductor detector modules. These additions enhanced the development of competitive PCCT systems for boosting the medical systems business.Sep-2020: SPX announced the acquisition of ULC Robotics, a company that provides utility inspection robotics as a service. The acquisition complemented SPX’s solutions for the inspection, location, and maintenance of underground infrastructure. Moreover, the acquisition enhanced the former company’s capabilities of developing advanced technology solutions such as Machine Learning and Artificial Intelligence for customers throughout its platforms.Product Launches & Product ExpansionsSep-2022: Leica introduced the Leica DMC-4, a highly efficient airborne imaging sensor. This sensor offers unparalleled image quality for complex mapping environments and various applications. DMC-4 enhanced acquisition efficiency and improved performance for covering wide areas with fewer flight lines.Aug-2022: OmniVision launched the OV50E image sensor, delivering low-light image and high dynamic range (HDR) video capturing capabilities to rear-facing main cameras in high-end and mainstream smartphones.Mar-2022: OmniVision announced the launch of OS03B10 CMOS image sensor. This sensor brings high-definition (HD) video and high-quality digital images to IP and HD analog cameras in a 3-megapixel (MP) 1/2.7-inch optical format.Mar-2022: Basler made advancements to its 3D imaging offering and added an industrial-grade stereo camera series to its range. The series is based on a plug-and-play computer vision solution, which doesn’t require any experience or expertise in machine vision. All these cameras are embedded with a pre-installed, modular onboard software package appropriate for typical robotic applications.Dec-2021: Canon released the Ll7060SAC, a new 1/2.3" CMOS sensor. This sensor has a high dynamic range of 120 decibels (dB) through double exposure and an effective pixel count of 2.81 million pixels (1936 x 1456). LI7060SAC supports wide-area image capture enabled by a 4:3 aspect ratio, commonly required by infrastructure inspection cameras and robotic vision systems and as well as the MIPI CSI-2 interface that is widely used by cameras and mobile devices.Oct-2021: Omron announced the launch of the VT-S10 series, the PCB Inspection system that features AI and industry-first imaging techniques for automating the high-precision inspection process for electronic assemblies, minimizing skill-level requirements, and maximizing performance.Oct-2021: Leica Microsystems released the new generation of the M320 for micro-dentistry. This microscope provides ultra-high-resolution imaging with an integrated 4K camera. The content can be shifted easily to the computer so that it can be utilized for impressive presentations, case documentation, training events, webinars, and publications.Mar-2021: Leica Microsystems unveiled Exalta, a smart device for traceable microscopy. This device helps users to offer reliable quality results for the medical device sector. This product helps users in obtaining a digitally enhanced quality control system.Scope of the StudyMarket Segments covered in the Report:By Component• Hardware• ServicesBy Application• Pipeline Inspection• Drain Inspection• Tank• Medical Inspection• OthersBy Video Quality• SD & HD• Full HD & 4KBy Distribution Channel• In-Store• OnlineBy End-use• Municipal• Industrial• Commercial• OthersBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• Basler AG• Leica Microsystems GmbH (Danaher Corporation)• Eddyfi Technologies• OmniVision Technologies, Inc.• Canon, Inc.• Omron Corporation• Pleora Technologies, Inc.• Clarus Medical LLC• Kintronics Inc.• SPX CorporationUnique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: ReportlinkerReportLinker is an award-winning market research solution. 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