The global digital imaging market is expected to grow at a CAGR of 9.5% during the forecast period. Digital imaging is a process in which digital images such as printed texts, photographs, or networks are created using image machines, manuscripts, artwork, or digital camera. Digital imaging systems are digitization solutions appropriate for unique and valuable cultural heritage objects. The digital imaging is widely used by digital humanities researchers and institutions for the digitization of treasures or valuable objects. It enables the electronic transmission of images to the receiver, such as referring dentists, third-party providers, and consultants through a modem. Digital imaging also includes motion pictures and digital videography. The digital imaging system consists of many components, such as image manipulation, image display, image acquisition, image storage, image networking, and image recognition.

Top Driver: Improved Reliability and Increasing Demand in Healthcare Sector

The digital imaging market is anticipated to grow due to various factors such as error-free image recovery without loss, improved reliability, reduced need for physical storage space, and elimination of environmental problems caused by film-based imaging. The number of videos, images, or pictures taken every day has resulted in rapid digital imaging adoption. Besides, the demand for a medical imaging system in the healthcare sector for improving patient safety and privacy is also a key factor driving the market.

Automotive Segment to Make Crucial Contribution to Growth of the Market

On the basis of end use the global digital imaging market can be segmented into Oil & Gas, Aerospace, Automotive, Semiconductor Fabrication, Food & Beverages, Pharmaceutical. In automotive segment accounted for a larger market share owing to the rising demand of digital imaging for the purpose of automotive designing. On the basis of technology, the market can be segmented into Machine Vision, Metrology, Radiography, LiDAR. On the basis of application, the market is segmented into Inspection, Reverse engineering, Surveying.

Rising Infrastructural Development to Benefit Asia Pacific Market

Asia Pacific is anticipated to hold the largest share of the digital imaging market by 2018. The market in this region is anticipated to grow at the highest CAGR during forecast period. The rise in the advancements in terms of economic growth, infrastructural developments, and construction of power plants are expected to boost digital imaging growth. The increased growth of the market in APAC can also be attributed to the major infrastructural expansion would help the industry propel in the next few years. Furthermore, the automation in manufacturing industries in countries such as India and China is anticipated to help the industry to flourish.

Players to Focus on Digital Imaging Market

The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. GE, Olympus, Hexagon, Cognex, Nikon, OMRON, Ametek, Matrox, Teledyne Technologies, National Instruments, and Keyence among others could be at the forefront of the competition in the global market.

General Electric: In December 2018, General Electric, Boston, announced plans to combine its industrial Internet of things (IIoT) software portfolio into a new, independent company. The company will bring together GE Digital’s IIoT solutions including the Predix platform, Asset Performance Management, Historian, Automation, Manufacturing Execution Systems, Operations Performance Management, and the GE Power Digital and Grid Software Solutions businesses in a comprehensive IIoT offering that will start with $1.2 billion in annual revenue and an existing global industrial customer base.

Olympus Corporation: In August 2020, Olympus Corporation announced it had signed a definitive agreement to acquire Arc Medical Design Limited, a subsidiary of Norgine B.V. The acquisition underscores Olympus’ commitment to expanding its offering in gastrointestinal therapeutic devices and the development of advanced colonoscopy tools through M&A opportunities as well as through R&D with the overarching goal of improving early detection and treatment of colorectal cancer (CRC).

Scope of the Report

By Technology

• Machine Vision
• Metrology
• Radiography
• LiDAR

By Application

• Inspection
• Reverse engineering
• Surveying

By End-User

• Oil & Gas
• Aerospace
• Automotive
• Semiconductor Fabrication
• Food & Beverages
• Pharmaceutical

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.