Inspection Camera Market is anticipated to grow at a CAGR of 5.66% from 2019 to 2030.
Market Industry Reports (MIR) has published a new report titled “Inspection Camera Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global inspection camera market accounted forover US $3,024.29 million in 2018. It is anticipated to grow at a CAGR of 5.66% from2019 to 2030.
The increasing number of smart city projects, water dam constructions, and new constructions of residential & commercial buildings are responsible for driving the market growth of inspection cameras across the globe. Also, the rising popularity of inspection cameras forthermal imaging applications and the increasing adoption of inspection cameras in chemical and oil & gas industries is fueling market growth. Additionally, anupsurge in the adoption of inspection cameras in the automotive industry to inspect motors, valves, radiators, electrical parts, and others is supplementing market growth.
Growing awareness regarding the advantages offered byinspection cameras along withthe extensive adoption of inspection cameras in the aviation & aerospace industry to detect problems,avoid the failure,and prevent mishaps aresome of the other factors augmenting market growth.Increasing investments by the leading players to develop productsthat have the potential to fulfill market requirements may create new opportunities during the forecast period (2019-2030).
However, high prices of small inspection cameras and instability in the quality of images are the major factors curbing market growth. Also, thelow demand from some regions,such as the Middle East and Africa due to the lack of awareness regarding the benefits of these cameras is another factor limiting market growth.
Browse key industry insights spread across 160 pages with market data tables & figures & charts from the report, 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. in detail along with the table of contents:https://www.marketindustryreports.com/inspection-camera-market/320
Europe accounted for the largest market share in 2018 followed by North America. The growth in Europe can be attributed to the increasing number of construction activities and government smart city development initiatives. Also, the presence of key players in the region is supplementing regional growth. Asia-Pacific is expected to grow with the highest CAGR during the forecast period owing to the rapid industrialization. Also, increasing construction activities in countries, such as India, China, and South Korea,are further boostingmarket growth in the region.
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., Teamforce Co., Ltd., and Oasis Scientific Inc., among others.
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