Industrial Computed Tomography Market Size Worth $765.8 Million By 2028: Grand View Research, Inc.

SAN FRANCISCO, July 12, 2021 /PRNewswire/ -- The global industrial computed tomography market size is expected to reach USD 765.8 million by 2028, registering a CAGR of 7.5% from 2021 to 2028, according to a new report by Grand View Research, Inc. The increasing use of CT scanners in industries, such as automotive, electronics, oil & gas, and aerospace among several others, is anticipated to boost the market growth over the forecast period. Moreover, a rise in the demand for advanced electronics is expected to support market growth.

Key Insights & Findings:

• The market is majorly driven by the growing need to improve the overall product quality and reduce product recall instances
• The service segment is anticipated to register the fastest CAGR from 2021 to 2028 due to the high cost of CT scanner equipment
• The flaw detection & inspection segment held the largest share in 2020 and is also anticipated to register the fastest CAGR from 2021 to 2028
• The electronics vertical segment is expected to record the fastest CAGR of over 8.5% during the forecast period
• This growth is credited to the growing demand for various electronic devices, such as smartphones, tablets, and laptops
• North America was the largest regional market in 2020 due to the high manufacturing activities in the region across various industries, such as automotive, electronics, and oil & gas

Read 80 page market research report, "Industrial Computed Tomography Market Size, Share & Trends Analysis Report By Offering (Equipment, Services), By Vertical (Oil & Gas, Electronics), By Application, By Region, And Segment Forecasts, 2021 - 2028', by Grand View Research.

Industrial computed tomography systems are increasingly being used for inspecting and testing the internal and external structure & design of various complex parts and components without destructing/disassembling the product. Additive manufacturing technology is increasingly being used for the production of multiple complex parts and structures. Therefore, to inspect the product's conformity with the original CAD designs, industrial CT scanners are used to determine the structure, dimensions, design, and tolerance of these products without altering their structure/form.

The benefits offered by industrial CT scanners, including manufacturing cost reduction, improved product design, and performance, as well as reduced product failure instances, are also expected to boost their adoption amongst the manufacturers. Moreover, these scanners provide high-quality inspection images that ease the inspection process and provide detailed information about the product under examination. Furthermore, assembly analysis is increasingly being done using the industrial computed tomography systems in the automotive industry that does not require the assembled systems to be disassembled for inspection. These benefits are expected to drive market growth over the forecast period.

Grand View Research has segmented the global industrial computed tomography market on the basis of offering, application, vertical, and region:

• Industrial CT Offering Outlook (Revenue, USD Million, 2017 - 2028)
• Equipment
• Line Beam Scanners
• Cone Beam Scanners
• Services
• Industrial CT Application Outlook (Revenue, USD Million, 2017 - 2028)
• Flaw Detection & Inspection
• Failure Analysis
• Assembly Analysis
• Dimensioning & Tolerancing Analysis
• Others
• Industrial CT Vertical Outlook (Revenue, USD Million, 2017 - 2028)
• Oil & Gas
• Aerospace and Defense
• Automotive
• Electronics
• Others
• Industrial CT Regional Outlook (Revenue, USD Million, 2017 - 2028)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia Pacific
• China
• India
• Japan
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East & Africa

List of Key Players of Industrial Computed Tomography Market

• Nikon Metrology NV
• OMRON Corp.
• Baker Hughes Company
• YXLON International
• ZEISS Group
• VJ Group
• Rigaku Corp.
• Shimadzu Corp.
• Werth, Inc.
• North Star Imaging, Inc.

Check out more studies related to Computed Tomography, By Grand View Research:

• Computed Tomography Market – Global computed tomography (CT) market size was valued at USD 5.53 million in 2018 and is projected to expand at a CAGR of 6.5% by 2026. Growing prevalence of various lifestyle associated with chronic diseases such as cancer and cardiovascular conditions and increasing demand for advanced imaging solutions are some of the factors expected to drive the overall market growth.
• Flat Panel Detector based X-ray for Cone Beam Computed Tomography Market – Global flat panel detector (FPD)-based X-ray for cone beam computed tomography (CBCT) market size was estimated at USD 2.13 billion in 2017. It is expected to expand at a CAGR of 8.07% over the forecast period. Significant advantages of FPD technology over charge coupled devices (CCDs) & image intensifying detectors (IIDs) are poised to fuel the adoption of FPD-based X-rays for CBCT.
• Medical Imaging Market – Global medical imaging market size was valued at USD 15.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2028. Major factors driving the industry are the increasing demand for early-stage diagnosis of chronic disease and rising aging demographics.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.