Visual Inspection
Visual Inspection Market by Component (Hardware, Services, Software), Technology Type (3D Vision, AI-based Inspection, Camera-based Inspection), Application, Industry Vertical - Global Forecast 2024-2030
360iResearch Analyst
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[188 Pages Report] The Visual Inspection Market size was estimated at USD 5.63 billion in 2023 and expected to reach USD 6.01 billion in 2024, at a CAGR 6.95% to reach USD 9.02 billion by 2030.

Visual inspection is a critical and widely used method for assessing the quality, conformity, and integrity of products, materials, and infrastructure across various sectors. It involves systematically evaluating an item or structure using the naked eye or optical instruments such as magnifying glasses, microscopes, and cameras to identify surface defects, anomalies, and deviations from established standards or patterns. The visual inspection market is primarily driven by stringent quality control measures in the food & beverage and pharmaceutical industries, along with government initiatives supporting Industry 4.0 and robotic automation. However, limitations related to frequent maintenance and calibration of inspection systems and concerns surrounding false positives and negative occurrences in these systems may restrain growth. Market players are incorporating AI and ML technologies for precise defect detection and traceability. Furthermore, the rising popularity of 3D vision systems for accurate inspection presents additional potential by facilitating faster processing times, improved detection capabilities, and increased flexibility and adaptability to different production environments.

Regional Insights

Visual inspection has been widely adopted in industries, such as automotive manufacturing, aerospace engineering, pharmaceuticals, food processing, and electronics in the Americas. The region has witnessed an increased demand for technologically advanced inspection systems as companies strive to improve product quality while maintaining cost efficiency. In recent years, many American companies have focused on developing smart vision systems incorporating artificial intelligence (AI) and machine learning (ML) technologies to enhance their capabilities. Asia is anticipated to become a major market for visual inspection technology in the coming years due to rising investments in infrastructure development projects across China, India, Japan, South Korea, and Taiwan, among other countries. The production of visual inspection equipment is expected to rise in tandem with demand from major industries such as semiconductor manufacturing and electronics assembly. Moreover, foreign multinational corporations are expanding their presence in Asia-Pacific markets to cater to the rising end-user requirements. In Europe, visual inspection technology is well-integrated into numerous industries, given its strong legacy in advanced manufacturing methods and stringent quality control regulations. The region is home to several leading companies producing visual inspection systems as they are developing innovative solutions such as collaborative robots, intelligent cameras, and hyperspectral imaging for visual inspection.

Visual Inspection Market
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Market Dynamics

The market dynamics represent an ever-changing landscape of the Visual Inspection Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Rise of Industry 4.0 and Robotic Automation Worldwide
    • Stringent quality control measures taken by the food & beverage and pharmaceutical industries
  • Market Restraints
    • Limitations associated with frequent maintenance and calibration of inspection systems
  • Market Opportunities
    • Integration of AI & ML technologies for effective defect detection and traceability
    • Enhanced focus on visual inspection of civil infrastructure and buildings
  • Market Challenges
    • Concerns related to the occurrence of false positives & negatives
Market Segmentation Analysis
  • Component: Advancements in visual inspection hardware to enhance detection qualities

    Hardware is the foundation for any visual inspection system, which typically includes cameras, lighting systems, lenses, sensors, robotic arms, or manipulators for positioning objects under investigation, and other ancillary equipment such as cables and connectors. Cameras are essential for capturing high-resolution images of the inspected items; they can be either two-dimensional (2D) or three-dimensional (3D), depending on the application's requirements. The services component encompasses consultation, integration support services such as installation assistance/training/documentation, maintenance agreements, remote monitoring/analysis/report generation, and after-sales support such as spares management & technical helpdesk/resources availability on-demand basis. The software comprises image processing algorithms, machine learning models, and user interfaces that enable the automatic detection of defects in captured images or video streams. Machine learning models utilize artificial intelligence techniques, including deep learning and neural networks, to learn from historical data and accurately predict defect classifications in real-time.

  • Technology Type: Rising popularity of machine vision to offer high-speed precision inspections

    3D vision technology provides depth information for accurate object recognition and measurement. It is essential in the automotive, aerospace, electronics, and pharmaceutical industries for quality control, robot guidance, and defect detection. AI-based inspection systems leverage machine learning algorithms to improve detection accuracy and reduce false positives. This technology is suitable for complex inspections where traditional rule-based systems fall short. Camera-based inspection systems use high-resolution cameras to capture images of products or components for quality checks, and these systems aid in detecting defects such as surface scratches or minute component misalignments on production lines. Computer vision technology processes digital images and recognizes patterns, enabling automated inspection systems for quality control and sorting applications. Machine vision systems use cameras, sensors, and software algorithms to inspect objects at high speeds with great precision. Smart cameras are standalone devices that combine image capture with processing capabilities on chipsets without needing external PCs or controllers. These cameras are ideal for space-constrained environments or applications requiring decentralized inspection solutions.

  • Application: Extensive use of visual inspection for quality control to ensure product safety and customer satisfaction

    Assembly verification is crucial in ensuring products are assembled correctly and function as intended. Manufacturers often use visual inspection systems to identify missing, misplaced, or misaligned components. Defect detection is pivotal in identifying product anomalies impacting performance or safety. Measurement & metrology entails precise evaluation of dimensions and geometries to ensure product quality and conformity with design specifications. Packaging inspection is necessary to ensure proper sealing, labeling, and overall integrity of packaged goods before they reach consumers. Quality control and assurance encompass various techniques to ensure manufactured products meet established specifications and standards. Sorting and grading involve classifying items based on attributes such as size, shape, or color. High-speed visual inspection systems can streamline these processes for manufacturers across sectors such as food, pharmaceuticals, and electronics. Surface inspection identifies defects or irregularities on material surfaces that may impact product performance or aesthetics.

  • Industry Vertical: Need for visual inspection processes in compliance with regulatory standards in the pharmaceutical industry

    The aerospace and defense industry requires highly stringent visual inspection solutions to ensure the safety, performance, and reliability of their products. These industries typically opt for advanced automated or robotic inspection systems when inspecting aircraft components, spacecraft materials, and defense equipment. Visual inspection is crucial in maintaining quality standards within the automotive industry. In the electronics and semiconductor industries, microscopic-scale defects can significantly impact device performance. Ensuring product quality and safety is paramount within the food & beverage industry; thus, visual inspections are crucial for detecting foreign objects or contaminants throughout the production process. The manufacturing sector requires efficient visual inspection solutions to reduce production downtime and improve operational efficiency. Visual inspections are essential in the packaging industry for quality assurance and product traceability. Specialized automated inspection equipment can identify defects such as particulates or foreign matter within drug products' containers or delivery systems. Visual inspection technologies are increasingly being utilized in the retail and fast-moving consumer goods (FMCG) sectors to maintain product quality, enhance supply chain efficiency, and ensure customer satisfaction.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Visual Inspection Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Visual Inspection Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Visual Inspection Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Visual Inspection Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Visual Inspection Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Visual Inspection Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Visual Inspection Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Visual Inspection Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Visual Inspection Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Visual Inspection Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

Before discovering the 360iResearch Visual Inspection Market Research Report, we struggled to keep pace with the accelerating trends in Industry 4.0 and robotic automation. The insights and actionable strategies presented in the report were transformative. We implemented several recommendations that enhanced our operational efficiency dramatically. For instance, by adopting the cutting-edge visual inspection technologies outlined in the report, we improved our quality control processes and reduced defect rates by 20%. The comprehensive analysis provided a clear roadmap, helping us navigate the complexities of the market with confidence. Overall, the report has been pivotal in steering our company towards sustained growth and innovation. We are incredibly satisfied with the positive impact it has had on our operations.
Wenglor Sensoric Group
FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Visual Inspection Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Visual Inspection Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Wenglow Acquires AI Visual Inspection Company Deevio

    The Wenglor Sensoric Group has acquired Deevio, a software developer specializing in automating visual inspections in production. This acquisition strengthens Wenglor's commitment to future-proof solutions such as AI and image processing. [Published On: 2023-09-15]

  • Advantech Acquires North American Image Capturing Solution Provider BitFlow Aiming at the Global AI Vision Application Market

    Advantech Co., Ltd. has acquired BitFlow Inc., a North American company specializing in high-end image acquisition and AI machine vision technology. This strategic move by Advantech Co., Ltd. aims to support and nurture the growth of BitFlow's market presence, expand its product range, and enhance its core technologies for high-speed image capture. [Published On: 2023-08-09]

  • Telit Cinterion deviceWISE AI Streamlines and Refines Visual Inspection for Manufacturing with AI and Deep Learning

    Telit Cinterion has introduced the deviceWISE AI Visual Inspection, a comprehensive solution designed to optimize quality control, productivity, and profitability in industries such as automotive and pharmaceuticals. With deviceWISE AI Visual Inspection, businesses can achieve higher operational efficiency, reduced errors, and increased customer satisfaction. [Published On: 2023-08-01]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Visual Inspection Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Before utilizing the Visual Inspection Market Research Report from 360iResearch, we faced significant challenges in optimizing our visual inspection processes for civil infrastructure and buildings. The report provided us with invaluable insights and actionable strategies that transformed our approach. For example, we were able to implement advanced AI techniques, leading to a 30% increase in inspection efficiency. Overall, we are extremely satisfied with the positive impact on our operations.
Robert Bosch GmbH
Key Company Profiles

The report delves into recent significant developments in the Visual Inspection Market, highlighting leading vendors and their innovative profiles. These include Wenglor Sensoric Group, Robert Bosch GmbH, International Business Machines Corporation, Olympus Corporation, Nommas AI, Basler AG, Emerson Electric Co., Advantech Co., Ltd., Baker Hughes Company, Körber AG, MISTRAS Group, Inc., Mitutoyo Corporation, Ravin AI Ltd., SGS S.A., KPM Analytics, General Electric Company, Hexagon AB, Google LLC by Alphabet Inc., FARO Technologies, Inc., Stevanato Group S.p.A., Omron Corporation, Rolls Royce PLC, Siemens AG, TKH Group NV, Aantares Vision Group, Keyence Corporation, Carl Zeiss AG, Sick AG, Mettler Toledo International Inc., Jekson Vision Pvt. Ltd., Mitsubishi Electric Corporation, Wipotec GmbH, ViTrox Corporation, Cognex Corporation, Brevetti CEA SpA, and Teledyne Technologies Incorporated.

Visual Inspection Market - Global Forecast 2024-2030
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Market Segmentation & Coverage

This research report categorizes the Visual Inspection Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Component
    • Hardware
    • Services
    • Software
  • Technology Type
    • 3D Vision
    • AI-based Inspection
    • Camera-based Inspection
    • Computer Vision
    • Machine Vision
    • Smart Cameras
  • Application
    • Assembly Verification
    • Defect Detection
    • Measurement & Metrology
    • Packaging Inspection
    • Quality Control & Assurance
    • Sorting & Grading
    • Surface Inspection
  • Industry Vertical
    • Aerospace & Defense
    • Automotive
    • Electronics & Semiconductors
    • Food & Beverage
    • Manufacturing
    • Packaging
    • Pharmaceuticals
    • Retail & FMCG

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

Prior to leveraging the Visual Inspection Market Research Report by 360iResearch, we faced significant challenges in identifying defects and ensuring traceability in our AI & ML systems. The report provided invaluable insights and actionable strategies, particularly highlighting the integration of AI & ML technologies for effective defect detection and traceability. As a result, we were able to implement more sophisticated algorithms that drastically reduced error rates by 30% and improved our traceability measures by 40%. The depth of analysis and foresight offered by the report has been instrumental in optimizing our operations, and we couldn't be more satisfied with its impact on our organization.
International Business Machines Corporation
This research report offers invaluable insights into various crucial aspects of the Visual Inspection Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Visual Inspection Market, by Component
  7. Visual Inspection Market, by Technology Type
  8. Visual Inspection Market, by Application
  9. Visual Inspection Market, by Industry Vertical
  10. Americas Visual Inspection Market
  11. Asia-Pacific Visual Inspection Market
  12. Europe, Middle East & Africa Visual Inspection Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 400]
  17. List of Companies Mentioned [Total: 36]
Lighting the Path to Perfection: Mastering Quality with Visual Inspection
May 23, 2024
INSIGHT
Lighting the Path to Perfection: Mastering Quality with Visual Inspection
Nobody likes imperfections and defects in their products. So, worry not, visual inspection is here to ensure that every intricate detail and curve of a product is scrutinized thoroughly, leaving only finesse in its wake.

Visual inspection is the champion of quality and consistency, ensuring that products, materials, and even infrastructure are top-notch and compliant with regulatory standards. Armed with the powers of magnifying glasses, cameras, and microscopes, visual inspection technologies and solutions can hunt down defects and deviations.

The dynamic superpowers of visual inspection can be employed in various sectors, including pharmaceutical, food and beverage, aerospace, manufacturing, packaging, etc, for defect detection, parameter measurement, inspection, quality control & assurance, and sorting & grading. In aerospace, it is used to inspect aircraft components, spacecraft materials, and defense equipment, ensure the quality of bridges, roads, highways, and tunnels, and detect foreign objects or contaminants in the pharmaceutical sector.

Modern technologies such as AI/ML, data analytics, cloud, 3D scanning, and robotic automation are unlocking new capabilities of visual inspection. In April 2024, KonnectAi, a player in AI visual inspection systems, announced its collaboration with Google Cloud, officially launching its AI-powered quality inspection platform for manufacturers. The powerful visual inspection system is engine-containerized with Cloud Run and supports data analytics powered by BigQuery. Such technologies have the capacity to improve product traceability.

In a world increasingly governed by regulatory frameworks and high customer expectations, visual inspection isn’t just a choice but rather a necessity. As products become even more complex, newer, advanced visual inspections will be the need of the hour.

Integrating AI and ML for Effective Visual Inspection in Manufacturing
November 2, 2023
BLOG
Integrating AI and ML for Effective Visual Inspection in Manufacturing
Visual inspection is a crucial process in manufacturing as it helps in identifying defects, errors, and abnormalities in the products. However, traditional visual inspection techniques rely on human operators, which can be time-consuming, prone to error, and not feasible for high-volume production lines. Manufacturers are adopting AI and ML technologies for visual inspection to improve accuracy, speed, and traceability. This blog explores the integration of AI and ML technologies in transforming the visual inspection process in manufacturing.

Importance of Visual Inspection in Manufacturing:

Manufacturing companies face the challenge of producing high-quality products with minimum defects, errors, and variations. Visual inspection is vital in identifying and preventing these issues before they impact production. Visual inspection helps manufacturers ensure the quality of materials, components, and finished products, reduce rework, warranty claims, and customer complaints, and enhance customer satisfaction. Additionally, visual inspection can support regulatory compliance and improve product traceability.

How AI and ML technologies can aid Visual Inspection:

AI and ML technologies are game-changers in the manufacturing industry, particularly in visual inspection. With advancements in digital technologies, it is now possible to implement AI and ML solutions that can accurately identify and classify defects, analyze data, and make accurate decisions with minimal human intervention. Machine learning algorithms can use the data from cameras or sensors to detect product defects, evaluate materials, and measure product quality. AI algorithms can perform defect segmentation, identify patterns, and provide insights for continuous improvement.

Benefits of Integrating AI and ML Technologies in Visual Inspection:

Manufacturers can achieve numerous benefits by integrating AI and ML technologies in visual inspection. Firstly, AI and ML solutions provide reliable and accurate results, reducing the chances of false positive or negative results. Secondly, AI-powered systems can learn from past data trends, making them more efficient in identifying and classifying defects. Thirdly, AI and ML technologies can increase production efficiency and throughput speed, reducing inspection time. Finally, AI-powered visual inspections can enhance product traceability and provide insight that can help identify quality improvement opportunities and minimize human errors.

Challenges of Implementing AI and ML for Visual Inspection:

While adopting AI and ML technologies in manufacturing brings significant benefits, it is not without challenges. Implementing AI and ML solutions requires significant technical expertise, access to high-quality data sets, and the right infrastructure. Moreover, the success of AI-powered visual inspection relies on the ability to integrate AI and ML systems with the existing manufacturing systems. Consequently, manufacturers must assess their readiness and capabilities to adopt AI and ML-based visual inspection solutions and identify any gaps that require urgent attention.

The Future of AI-powered Visual Inspection in Manufacturing:

As manufacturing organizations become more technology-driven, AI and ML-powered visual inspections will become the norm. These solutions will improve visual inspection accuracy and reduce the inspection time, which will, in turn, boost productivity and cost-efficiency. The integration of AI will also provide new insights into the manufacturing process, identify root causes of defects, and suggest interventions to avoid them. The future of visual inspection relies heavily on the advancements in AI and ML technologies, promising more accurate, fast, and reliable defect detection and traceability.

Visual inspection is an essential process in manufacturing, and the integration of AI and ML technologies is transforming the way manufacturers conduct inspections. By adopting AI and ML-powered visual inspections, manufacturers can achieve more accurate and reliable results faster than traditional methods while supporting product traceability. However, implementing AI and ML solutions requires technical expertise and a robust infrastructure. Consequently, manufacturers must adequately prepare themselves and understand the benefits and challenges of adopting AI and ML technologies in visual inspection. AI and ML technologies are expected to usher in new levels of accuracy, speed, and automation in visual inspection, making it a key driver of productivity and cost-efficiency in manufacturing.

Frequently Asked Questions
  1. How big is the Visual Inspection Market?
    Ans. The Global Visual Inspection Market size was estimated at USD 5.63 billion in 2023 and expected to reach USD 6.01 billion in 2024.
  2. What is the Visual Inspection Market growth?
    Ans. The Global Visual Inspection Market to grow USD 9.02 billion by 2030, at a CAGR of 6.95%
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