Inspection Camera Market By Type (Handheld Cordless/Corded and Long Reeled), Light Spectrum (IR Spectrum, Visible Spectrum, and UV Spectrum),End-Use (Construction and Industrial) -Analysis & Forecast 2020-2030.
Report ID : 320 | Published Date : Jul 2020 | Pages : 160 | Region : Global | Report Code : ICT-30
Inspection Camera Market Overview and Introduction
Inspection cameras, also called bore scopes, are devices that assist to observe and test areas, which are hard-to-reach for inspection. There are two types of inspection cameras present in the market - handheld cordless and long reeled. These inspections cameras are designed as per their respective applications. For instance, long reeled inspection cameras are equipped with different lengths of reels that are used to examine objects such as a long pipe having a small diameter. The inspection cameras are used to capture/create images based on the IR spectrum, visual spectrum, and ultraviolet spectrum. Among these, IR spectrum cameras are the most commonly used as compared to others owing to their utilization in industries, such as chemical, oil & gas, metal, and others, to capture images from a distance.
New product launches for various applications, including constructional and industrial, are fueling market growth. For instance, in 2020, FLIR Systems launched the first thermal imaging building inspection system with upgraded thermal cameras. This system is specialized for building construction management, restoration, and remediation. Also, increasing construction activities across the globe and growing awareness regarding advantages associated with inspection cameras are driving market growth. Moreover, technological advancements, such as the emergence of Android-compatible inspection cameras, can create new opportunities in the market.
However, the high cost for the small inspection cameras, instability in the quality of the imagines, and low adoption of inspection cameras in several areas, including the Middle East and Africa, have been hampering market growth.
The global inspection camera market can be segmented into type, light spectrum, end-use, and region.
Inspection Camera Market By Type
Based on type, the market can be segmented into handheld cordless/corded and long reeled. Handheld cordless inspection cameras accounted for the largest market share in 2018 and will continue their dominance throughout the forecast period. The growth of the handheld cordless/corded segment can be attributed to their extensive utilization in thermal imaging applications due to advantages, such as a compact design, which facilitates ease of handling, low weight, high portability, and others. Additionally, major players operating in the market are launching new handheld cordless inspection camera products to strengthen their position in the market. This is further supplementing growth for the handheld cordless segment. On the other hand, the long reeled segment is expected to grow with the highest CAGR during the forecast period.
Inspection Camera Market By Light Spectrum
Based on light spectrum, the market can be segmented into IR Spectrum, Visible Spectrum, and UV Spectrum. The IR spectrum segment accounts for the largest market share in 2018 owing to the increasing adoption of IR spectrum inspection cameras in petroleum &chemical processing and steel manufacturing.
Inspection Camera Market By End-Use
Based on end-Use, the market is segmented into construction and industrial. The industrial segment accounted for the largest market share in 2018and expected to continue its dominance throughout the forecast period (2019-2030). The growth of the industrial segment can be attributed to the increasing adoption of inspection cameras in the various end use industries including oil & gas, automotive, and aviation & aerospace, among others. For instance, in the automotive industry, inspection cameras are utilized for the visual inspections of internal engines/parts to avoid the high costs involved in engine disintegration.
Inspection Camera Market by Region
Based on region, the global inspection camera market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Europe is dominating the inspection camera market followed by North America. The growth in Europe can be attributed to infrastructural developments and the presence of major market players in the region. Additionally, leading key players from this region are focusing on R&D activities to launch technologically advanced products and entering into collaborations in order to gain a competitive edge over the other players. This is further supplementing growth in the region. On the other hand, Asia-Pacific region is expected to grow with the highest CAGR during the forecast period, 2019-2030 owing to rapid industrial developments across the region.
Inspection Camera Market Prominent Players
Some of the prominent players in the inspection camera market include FLIR Systems, Inc., Fluke Corporation, Milwaukee Electric Tool Corporation, Robert Bosch GmbH, Testo SE & Co. KGaA, CIU Co., Ltd., Team force Co., Ltd., and Oasis Scientific Inc., among others.