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Defect Detection Market: Overview

Defect detection technologies and tools have become increasingly automated over the years, anchored in the striking strides in deep learning techniques. Advances in automated visual-based defect detection approaches have expanded the avenues for various end-use industries in the defect detection market. Businesses in industrial production lines notably in automotive and manufacturing sectors have harnessed deep learning-based algorithms for improving the overall process of defect detection in terms of speed, accuracy, and the complexity of targets.

The advent of deep-learning models for defect detection for range of material surfaces, such as metals, stone, ceramics, and textiles has opened up new growth trajectories in the defect detection market. State-of-the art deep learning techniques empowered by computing systems-inspired artificial neural networks have helped end users to ensure quality control and assurance.

Growing adoption of ICV and machine vision in the non-destructive defect detection in manufacturing and construction industries respectively are enriching the revenue prospects for players in the defect detection market. Some of the major non-destructive defect detection technologies used in industrial production line for quality assurance sit under visual-based approaches, dye penetrant inspection, radiography, eddy current approach, and ultrasonic testing.

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Defect Detection Market: Drivers, Current Growth Dynamics, Lucrative Avenues

Automated defect detection techniques have grown in significance in smart supply chain, since their application enables early detection of defective products and save production costs. The strides in the smart manufacturing and adoption of new operating models for quality assurance are constantly enriching the growth of the defect detection market.

A growing body of research in current detection algorithms have explored deep learning models for targets that are small and complex. Newer visual-based approaches for defect detection are gathering traction in industrial applications, unlocking new prospects of the defect detection market. Players in the market have been garnering revenue gains from the rapid penetration of defect detection technologies in aeronautics. Intensive studies on the taxonomy of defects in metals have opened up new opportunities for players in the defect detection market.

Defect Detection Market: Competition Landscape and Key Developments

In steel manufacturing, there is massive market prospects for improved detection algorithms. Traditional methods have been fraught with low confidence, high labor intensity, and low production needs. Thus, global producers in the steel industry are keen on leveraging the recent advancements in deep learning methods in defect detection. This is a key driver for the innovations in the defect detection market.

A number of studies son nondestructive defect detection in the Industry 4.0 are enriching the prospects of the defect detection market. A team of researchers in China have demonstrated a novel steel surface defect detection, the results of which are published in March 2021. The investigators harnessed deformable convolution network and applied Fast R-CNN algorithm for object detection. They demonstrated that the new model was effective in identifying small target defects on the steel surfaces. The new method is aimed at improving detection algorithms over NEU-DET dataset detection. Researchers in various parts of the world are researching on data-driven artificial intelligence techniques for developing state-of-the art automated defect detection, thus paving the way to new avenues in the defect detection market.

New platforms have come to the fore to cater to the need for faster and accurate defect detection methods in mass production models are key to unlocking new prospects of the defect detection market. Some of the key players in the defect detection market are IBM, Omron, Microsoft, Datalogic, Cognex Corp, Teledyne Technologies, and Amazon Web Services.

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Defect Detection Market: Regional Landscape

Asia Pacific is one of the lucrative regions, where emerging economies have emerged as the hotbed of opportunities. The growth is propelled by the strides in the Industry 4.0 and enormous studies being undertaken on artificial visual processing techniques, notably deep detection methods. North America has witnessed a vast appetite for state-of-the art techniques in manufacturing and aeronautics sector.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Defect Detection Market