Digital Imaging Market Size Worth US$ 43.54 Billion by 2030 at 8.9% CAGR, COVID-19 Impact and Global Analysis by Emergen Research

According to the most recent analysis by Emergen Research, the size of the worldwide digital imaging market reached USD 20.32 billion in 2021 and is projected to grow at a revenue CAGR of 8.9% over the forecast period.

The technique of using an artwork, manuscripts, image machine, or a digital camera to create digital images such as photographs, networks, or printed texts is known as digital imaging. The process of digitising and transforming content from an analogue format to a readable digital format is known as this sort of imaging. One of the key reasons propelling the expansion of the digital imaging market is the increasing need for industrial automation on a global scale. The usage of sophisticated AI-enabled imaging technology for quick diagnosis and predictive analysis in developed countries, as well as an increase in the population’s average age, are driving the market’s expansion. The market is also influenced by the rise in demand for early-stage diagnosis of chronic disease and the increased tendency toward artificial intelligence for addressing a number of issues and improving patient outcomes.

Additionally, the market for digital imaging is positively impacted by increased system accessibility, quick digitalization, integration of cutting-edge technologies, rise in adoption of Internet of Things, and growth in consumer awareness increasing the bar for safety and quality standards. Additionally, in the forecasted period of 2022 to 2030, the trend of product miniaturisation in the end-user industries offers lucrative prospects to the market competitors.

The automobile industry, which is concentrating on high-value offerings as well as cost reductions, is another significant contributor to the market. In the automotive sector, digital imaging is necessary during the process development, production, and qualification phases. By 2018, this industry is anticipated to hold the most market share, and from 2018 to 2023, the market for this particular segment is anticipated to develop at the highest CAGR. The expansion of the automobile manufacturing sector’s digital imaging market is being driven by the industry 4.0 technologies that are becoming more widely adopted in order to improve processes through prompt problem detection.

The industry leader is GE. For industrial, commercial, military, and aerospace applications, GE offers cutting-edge technologies, such as sensor-based measurement solutions, sophisticated software, controls, asset condition monitoring systems, inspection technologies, and radiation measuring solutions. The company offers a full range of NDT solutions and tools for the digital imaging sector, including radiography, CT, remote visual inspection, ultrasound, eddy current, and hardness testing devices. To expand in this industry, it has primarily used the organic growth approach of product releases and expansions. For instance, GE Oil & Gas introduced the TransPort PT900 Portable Ultrasonic Flow Meter in March 2017 as a clamp-on metre for measuring liquid flow. On an Android tablet, the user interface is app-driven.

Some Key Highlights From the Report :

·        Due to the elimination of chemical processors and processor maintenance, less radiation exposure, and reduced space requirements, the radiology segment accounted for a sizeable portion of revenue in 2021. The market is growing in revenue because imaging versatility enhances patient diagnosis accuracy and care quality.

·        Due to metrology’s widespread use in a variety of applications, including automotive and aerospace, the industry is predicted to have rapid expansion. A digital imaging procedure in the metrology sector makes it simple to inspect components and record vast volume spaces.

·        Due to the rising use of new technologies over more established ones in digital photography, the automotive application is predicted to grow at a rapid rate during the projection period. Manufacturers can increase production by detecting flaws and enabling predictive maintenance by adopting digital imaging technology.

·        Due to government initiatives in digital imaging in this region from developing economies, Asia-Pacific is predicted to experience a high CAGR in the digital imaging market during the forecast year. The expansion of the digital imaging industry in this area is anticipated to be aided by improvements in infrastructure, power plant building, and digital imaging technology.

·        Some major companies operating in the global market include Nikon Corporation, Olympus Corporation, General Electric, Hexagon, AMETEK.Inc., Cognex Corporation, Matrox, Teledyne Technologies Incorporated, Keyence Corporation, and OMRON Corporation.

Emergen Research has segmented global the digital imaging market based on technology, application, industry, and region:

• Technology Outlook (Revenue, USD Billion; 2019-2030)

  • Metrology

  • Radiography

    1. X-ray testing

    2. Computed radiography

    3. Gamma-Ray testing

    4. Direct radiography

    5. Film radiography

  • LiDAR

  • Machine Vision

• Application Outlook (Revenue, USD Billion; 2019-2030)

  • Reverse Engineering

  • Inspection

  • Surveying

    1. Exploration

    2. Urban planning

    3. Engineering

    4. Corridor mapping

    5. Cartography

• Industry Outlook (Revenue, USD Billion; 2019-2030)

  • Aerospace

  • Machinery

  • Consumer electronics

  • Automotive

  • Food & beverages

  • Healthcare

  • Oil & gas

  • Others