The global inspection camera system market size is expected to reach USD 735.21 million by 2030, according to a new study by Polaris Market Research. The report “Inspection Camera System Market Share, Size, Trends, Industry Analysis Report, By Component (Hardware, Services); By Video Quality; By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The need for surface inspection systems is also anticipated to expand as smart cameras, improved software, and powerful image processors become more widely used due to their advantages and features, including high-speed inspection, excellent resolution, and integration of AI and deep learning. The software has progressed and is now better equipped to handle a variety of data sources, including 3D images and multi-camera setups (some surface inspection robots can accommodate up to eight cameras). However, a significant barrier to the efficient integration of surface inspection systems in various industries is the need for more technically competent people.
One of the key factors driving the growth of this market during the forecast period is the increasing technology integration in video inspection equipment to have cost-effective solution. Some factors contributing to the market’s growth are increasing sewage inspection standards in rich economies and rising industrialization and urbanization rates in emerging regions.
For various businesses, including the oil and gas industry, inspecting pipelines utilizing camera systems is affordable and quick. Several companies offer waterproof industrial inspection cameras to check caissons, pipelines, tanks, and pressure vessels for corrosion. The gas pipe presents difficulties for metal and plastic pipes, and video inspection is essential. Because of operations including production services, drilling, reservoir engineering, well maintenance, refining, and transportation of petroleum products, compliance with regulations in the oil & gas industry for pipe inspection is fostering market growth. Timely pipeline inspection is necessary for all of the procedures mentioned above.
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The market is expanding due to factors including rising construction projects worldwide and increased investment in sewer lines and drainage systems. However, adopting these solutions in emerging and undeveloped parts of the world may need more knowledge regarding video inspection technology. Despite these drawbacks, the expanding oil and gas sector will encourage the use of inspection camera system technology in pipelines worldwide.
Inspection Camera System Market Report Highlights
- The hardware industry led the market in 2021, accounting for the largest revenue share. This growth is because hardware systems have improved recently, making it simpler for end users to conduct inspections in tight spaces.
- North America was the largest regional market in 2021. This expansion is due to the requirement for inspection in new natural gas pipeline construction across nations. Humans cannot access underwater pipelines due to increased water pressure and other hazardous conditions, therefore, this camera system inspects them for maintenance and repair.
- The global players include Basler AG, Leica Microsystems, Clarcus Medical LLC, Eddyfi Technologies, Minicam Group, Ipek International Gmbh, NDT Technologies (P) Ltd., CUES Inc., OmniVision, I.C. LERCHER Solutions GmbH Canon Inc., Omron Corp., Pleora Technologies Inc., eInfochips, Kintronics Inc., Pro-Vigil, CameraFTP, Camcloud, Exacq Technologies, Stealth Monitoring.
Polaris Market Research has segmented the inspection camera system market report based on component, video quality, application and region:
Inspection Camera System, Component Outlook (Revenue – USD Million, 2018 – 2030)
Inspection Camera System, Video Quality Outlook (Revenue – USD Million, 2018 – 2030)
- SD & HD
- Full HD & 4K
Inspection Camera System, Application Outlook (Revenue – USD Million, 2018 – 2030)
- Pipeline Inspection
- Drain Inspection
- Medical Inspection
Inspection Camera System, Regional Outlook (Revenue – USD Million, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa