Global Industrial X-Ray Inspection Equipment And Imaging Software Market Size Forecast 2024 - 2033
19 Dec, 2024
How Is The Global Industrial X-Ray Inspection Equipment And Imaging Software Market Defined?
Industrial X-ray inspection equipment and imaging software are tools used in various industries to inspect the quality and integrity of products without damaging them. Industrial X-ray inspection equipment utilizes X-rays to penetrate materials and create images of the internal structure. This allows for detecting defects, faults, or foreign objects hidden from view.
Industrial X-Ray Inspection Equipment And Imaging Software Global Market Report 2024 provides data on the global industrial x-ray inspection equipment and imaging software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Industrial X-Ray Inspection Equipment And Imaging Software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Market Size And Growth Rate Of The Global Industrial X-Ray Inspection Equipment And Imaging Software Market Projected?
The industrial X-ray inspection equipment and imaging software market size has grown rapidly in recent years. It will grow from $0.80 billion in 2023 to $0.88 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to demand for non-destructive testing (NDT), regulatory standards, growth in manufacturing industries, cost efficiency, and increased demand for quality assurance. The industrial X-ray inspection equipment and imaging software market size is expected to see rapid growth in the next few years. It will grow to $1.32 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to industry 4.0 integration, emerging applications, demand for high-resolution imaging, focus on sustainability, and evolving regulatory landscape. Major trends in the forecast period include integrating artificial intelligence (AI), portable and handheld solutions, digitalization of workflows, multi-modal imaging systems, and advanced materials and additive manufacturing.
What Are The Primary Growth Drivers In The Industrial X-Ray Inspection Equipment And Imaging Software Market?
The growing automotive production is expected to propel the growth of the industrial X-ray inspection equipment and imaging software market going forward. There is growing automotive production due to several factors, including increasing consumer demand, globalization of manufacturing processes, and government incentives promoting the automotive industry. Industrial X-ray inspection equipment and imaging software allow manufacturers to inspect internal structures and detect defects or inconsistencies in automotive parts, such as welds, castings, and composite materials. For instance, in May 2023, according to the European Automobile Manufacturers Association (ACEA), a Belgium-based association, 85.4 million motor vehicles were produced globally in 2022, an increase of 5.7% compared to 2021. Therefore, the growing automotive production is driving the growth of the industrial X-ray inspection equipment and imaging software market.
Get Your Free Sample of the Global Industrial X-Ray Inspection Equipment And Imaging Software Market ReportWhat Is The Segmentation Of The Global Industrial X-Ray Inspection Equipment And Imaging Software Market?
The industrial x-ray inspection equipment and imaging software market covered in this report is segmented –
1) By Offering: Equipment, Software
2) By Technology: Film Radiography, Computed Radiography, Direct Radiography, Computed Tomography
3) By End-User Industry: Aerospace, Food Industry, Construction, Oil And Gas, Automotive And Manufacturing, Energy And Power, Semiconductor And Electronics, Other End-User Industries
What Emerging Trends Are Shaping The Industrial X-Ray Inspection Equipment And Imaging Software Market Landscape?
Major companies in the industrial X-ray inspection equipment and imaging software market are leveraging IGZO technology to gain a competitive edge. IGZO technology utilizes Indium Gallium Zinc Oxide-based sensors for high-speed, precise X-ray imaging. For instance, in July 2023, Teledyne Industrial X-Ray Solutions, a Netherlands-based company, launched Rad-Xcam detectors with IGZO sensors. These detectors provide high-speed performance, superior image quality, and high thermal stability for industrial, biomedical, and scientific applications. They offer artifact-free images, easy integration, and reduced calibration needs.
Which Region Has The Fastest Expansion In The Industrial X-Ray Inspection Equipment And Imaging Software Market?
Asia-Pacific was the largest region in the industrial X-ray inspection equipment and imaging software market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial x-ray inspection equipment and imaging software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.