The Industrial Radiography Market Size was valued at USD 672.03 million in 2023 and is expected to reach USD 1262.4 million by 2031 and grow at a CAGR of 8.2% over the forecast period 2024-2031.
Industrial radiography is a technique that uses short-wavelength electromagnetic radiation to inspect materials for internal flaws. Industrial radiography is used to detect defects that are not visible to the naked eye. It is used in manufacturing plants to detect flaws, cracks, and surface contamination of products. In chemical plants, industrial radiography is used to inspect oil and gas pipelines as well as pressure vessels.
Get more information on Industrial Radiography Market - Request Sample Report
An anticipated surge in the size of commercial and military aircraft fleets is expected to generate significant opportunities within the industrial radiography market. Data from Boeing suggests a substantial increase in aircraft deliveries across key regions, with the Asia Pacific leading the way (17,645 deliveries projected between 2021-2040), followed by North America and Europe. This growth trajectory within the aviation sector is likely to translate into a heightened demand for industrial radiography services.
Furthermore, the International Energy Agency (IEA) forecasts a robust and accelerated growth in global electricity demand (approximately 3% annually) over the period 2023-2025, surpassing the growth rate observed in 2022. Additionally, the IEA estimates significant investments in the energy sector reaching USD 2.8 trillion in 2023. These trends are expected to fuel the industrial radiography market, as this technology plays a vital role in the petrochemical, gas, and energy & power sectors. Industrial radiography is extensively employed within the energy industry to identify and locate defects within critical infrastructure and equipment, ensuring their safety and reliability. In conclusion, the combined growth anticipated in the aviation and energy sectors is poised to propel the industrial radiography market forward.
MARKET DYNAMICS:
KEY DRIVERS:
Increased demand for improved and efficient productivity from manufacturing units, as well as increased adoption of testing technology by automotive and aerospace & defence manufacturing companies to correct defects and flaws
Strict government safety regulations and high-precision inspection by various manufacturers
RESTRAINTS:
Exposure to radiation and high implementation costs.
The growth of the industrial radiography market. The use of ionizing radiation in industrial radiography presents health risks, including cell damage and increased cancer risk without proper safety measures. Stringent government regulations mandate specialized training for workers, requiring adherence to radiation safety protocols and the use of expensive protective gear. Moreover, the high implementation costs stem from the expensive equipment, specialized disposal procedures for radioactive sources, and the need for dedicated facilities with radiation shielding. These factors collectively contribute to the perception of industrial radiography as a complex and costly process, deterring smaller companies from investing despite its undeniable benefits in ensuring product quality and safety. The growth of the industrial radiography market. The use of ionizing radiation in industrial radiography presents health risks, including cell damage and increased cancer risk without proper safety measures. Stringent government regulations mandate specialized training for workers, requiring adherence to radiation safety protocols and the use of expensive protective gear. Moreover, the high implementation costs stem from the expensive equipment, specialized disposal procedures for radioactive sources, and the need for dedicated facilities with radiation shielding. These factors collectively contribute to the perception of industrial radiography as a complex and costly process, deterring smaller companies from investing despite its undeniable benefits in ensuring product quality and safety.
OPPORTUNITIES:
Opportunities in the industry are created by the automation of testing and inspection processes, industrialization in developing economies, and the provision of customized solutions.
CHALLENGES:
Fluctuations in raw material prices directly influence the overall cost of radiography equipment manufacturing, thereby affecting the accessibility and affordability of the technology.
Radiography equipment requires various raw materials for its construction, including metals, electronic components, and specialized materials for radiation shielding. Any changes in the prices of these raw materials can significantly affect the overall production cost of the equipment. When raw material prices increase, manufacturers may face higher production expenses, leading to elevated prices for radiography equipment. This, in turn, can make the technology less accessible and affordable for potential buyers, including industrial facilities and inspection service providers. Conversely, when raw material prices decrease, manufacturers may be able to offer radiography equipment at lower costs, potentially increasing its accessibility and affordability. Therefore, fluctuations in raw material prices directly impact the economic feasibility of manufacturing radiography equipment and can influence market dynamics, including demand and competition within the industry.
IMPACT OF RUSSIA UKRAINE WAR
Sanctions and trade disruptions limit access to crucial equipment, potentially causing a 20% price increase for Cobalt-60 sources. Shortages of films and detectors could delay projects by months. The economic fallout in Ukraine and Russia is expected to decrease demand for these services by 10-15%. Disruptions also lead to price fluctuations, potentially inflating operational costs by 5-10% for service providers. Skilled worker displacement due to the war can exacerbate these issues by creating labor shortages and driving up labor costs. These combined effects create a challenging environment for the industrial radiography market in Eastern Europe.
IMPACT OF ECONOMIC SLOWDOWN
Budgets cuts could lead to a 15-20% drop in capital expenditure for projects, reducing demand for inspection services. Project delays and cancellations might further impact demand by up to 30%. Key sectors like oil & gas, which rely heavily on radiography, could see a 10-15% activity decline, translating to revenue losses for service providers. Increased competition in a sluggish market could force service providers to cut prices by 5-10%, squeezing their margins.
Companies might still prioritize essential maintenance and safety inspections (5-10% of demand) to avoid costly breakdowns. Additionally, the cost-effectiveness of industrial radiography in preventing accidents could see some companies (5-7%) continue utilizing these services at a reduced rate.
BY IMAGING TECHNIQUE
Digital Radiography
Film-based Radiography
The segmentation of the Industrial Radiography Market, based on technology, comprises film-based radiography and digital radiography. Within this segmentation, the digital radiography segment has emerged as the top revenue generator. Digital radiography, the latest non-destructive testing inspection technique, instantly produces digital images on a computer, eliminating the need for an intermediate cassette to transfer examinations. The adoption of digital radiography is on the rise due to its numerous advantages, including faster exposure times, real-time applications, advanced analysis and defect-recognition tools, enhanced detail detectability, improved SNR and linearity, portability, and rapid feedback.
BY RADIATION TYPE
Gamma Rays
X Rays
Segmentation of the Industrial Radiography Market based on radiation type includes X-rays and Gamma rays. Among these segments, the X-rays category has emerged as the top revenue generator, driven by ongoing technological advancements, intensified product development, and increased government funding and investment. The market's focus on enhancing and innovating X-ray units further fuels the growing adoption of this segment. Industrial radiography primarily employs industrial X-ray machines, which come in various sizes and capacities.
BY END USER
Petrochemicals & Gas
Power Generation
Aerospace
Consumer Electronics
Manufacturing
Automotive & Transportation
Others
The industrial radiography market is segmented into Petrochemicals & Gas, Power Generation, Aerospace, Consumer Electronics, Manufacturing, Automotive & Transportation, and Others. During the forecast period, the market for petrochemicals and gas end users is expected to grow at the fastest rate. In this end user, industrial radiography testing includes monitoring pipelines, storage tanks, and refining equipment to measure internal corrosion without externally damaging the material. The deep-sea oil and gas industry relies heavily on industrial radiography. Oil leaks or spills can occur over time in this industry if refinery infrastructure is not carefully monitored, resulting in extremely high cleanup costs.
The Asia-Pacific Industrial Radiography market is poised to dominate, driven by stringent government safety regulations, which have spurred significant demand for industrial radiography equipment. In Europe, the Industrial Radiography market holds the second-largest market share, attributed to the region's prominent aerospace industry. Within Europe, the German Industrial Radiography market commands the largest market share, while the UK Industrial Radiography market exhibits the highest growth rate.
In North America, the Industrial Radiography Market is anticipated to witness the fastest Compound Annual Growth Rate (CAGR), fueled by advancements in the automotive, aerospace, manufacturing, and oil sectors. These industries extensively utilize industrial radiography techniques for maintenance, inspection, and dimensional measurement purposes.
Get Customized Report as per Your Business Requirement - Request Customized Report
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
The key players in the industrial radiography market are 3DX-RAY Ltd., Anritsu Corporation, PerkinElmer Inc., Shimadzu Corporation, Nikon Corporation, COMET Holding AG, Bosello High Technology SRL, General Electric, FUJIFILM Holdings Corporation, Mettler-Toledo International Inc & Other Players.
PerkinElmer Inc-Company Financial Analysis
RECENT DEVELOPMENT
In February 2023: Carestream Health India introduced The DRX Compass, a precise, straightforward, and flexible digital radiography solution designed to elevate radiologists' productivity to a new level.
In March 2023: Fujifilm Medical Systems USA announced the official launch of the Fujifilm FCR Vixera G300D. This groundbreaking digital radiography system offers top-notch image quality, rapid acquisition rates, and improved workflow efficiency.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 672.03 million |
| Market Size by 2031 | US$ 1262.4 million |
| CAGR | CAGR of 8.2% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Imaging Technique (Digital Radiography, Film-Based Radiography) • By Radiation Type (Gamma Rays, X Rays) • By End-User (Petrochemicals & Gas, Power Generation, Aerospace, Consumer Electronics, Manufacturing, Automotive & Transportation, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | 3DX-RAY Ltd., Anritsu Corporation, PerkinElmer Inc., Shimadzu Corporation, Nikon Corporation, COMET Holding AG, Bosello High Technology SRL, General Electric, FUJIFILM Holdings Corporation, and Mettler-Toledo International Inc. |
| Key Drivers | • Strict government safety regulations and high-precision inspection by various manufacturers |
| RESTRAINTS | • Exposure to radiation and high implementation costs. |
The Industrial Radiography Market was valued at USD 672.03 million in 2023.
The expected CAGR of the global Industrial Radiography Market during the forecast period is 8.2%
The North America region is anticipated to record the Fastest Growing in the Industrial Radiography Market.
The X-Rays segment is leading in the market revenue share in 2023.
The Asia-Pacific region with the Highest Revenue share in 2023.
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Impact Analysis
5.1 Impact of Russia-Ukraine Crisis
5.2 Impact of Economic Slowdown on Major Countries
5.2.1 Introduction
5.2.2 United States
5.2.3 Canada
5.2.4 Germany
5.2.5 France
5.2.6 UK
5.2.7 China
5.2.8 Japan
5.2.9 South Korea
5.2.10 India
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Industrial Radiography Market Segmentation, By Imaging Technique
9.1 Introduction
9.2 Trend Analysis
9.3 Digital Radiography
9.4 Film-based Radiography
10. Industrial Radiography Market Segmentation, By Radiation Type
10.1 Introduction
10.2 Trend Analysis
10.3 Gamma Rays
10.4 X Rays
11. Industrial Radiography Market Segmentation, By End User
11.1 Introduction
11.2 Trend Analysis
11.3 Petrochemicals & Gas
11.4 Power Generation
11.5 Aerospace
11.6 Consumer Electronics
11.7 Manufacturing
11.8 Automotive & Transportation
11.9 Others
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 Trend Analysis
12.2.2 North America Industrial Radiography Market by Country
12.2.3 North America Industrial Radiography Market By Imaging Technique
12.2.4 North America Industrial Radiography Market By Radiation Type
12.2.5 North America Industrial Radiography Market By End User
12.2.6 USA
12.2.6.1 USA Industrial Radiography Market By Imaging Technique
12.2.6.2 USA Industrial Radiography Market By Radiation Type
12.2.6.3 USA Industrial Radiography Market By End User
12.2.7 Canada
12.2.7.1 Canada Industrial Radiography Market By Imaging Technique
12.2.7.2 Canada Industrial Radiography Market By Radiation Type
12.2.7.3 Canada Industrial Radiography Market By End User
12.2.8 Mexico
12.2.8.1 Mexico Industrial Radiography Market By Imaging Technique
12.2.8.2 Mexico Industrial Radiography Market By Radiation Type
12.2.8.3 Mexico Industrial Radiography Market By End User
12.3 Europe
12.3.1 Trend Analysis
12.3.2 Eastern Europe
12.3.2.1 Eastern Europe Industrial Radiography Market by Country
12.3.2.2 Eastern Europe Industrial Radiography Market By Imaging Technique
12.3.2.3 Eastern Europe Industrial Radiography Market By Radiation Type
12.3.2.4 Eastern Europe Industrial Radiography Market By End User
12.3.2.5 Poland
12.3.2.5.1 Poland Industrial Radiography Market By Imaging Technique
12.3.2.5.2 Poland Industrial Radiography Market By Radiation Type
12.3.2.5.3 Poland Industrial Radiography Market By End User
12.3.2.6 Romania
12.3.2.6.1 Romania Industrial Radiography Market By Imaging Technique
12.3.2.6.2 Romania Industrial Radiography Market By Radiation Type
12.3.2.6.4 Romania Industrial Radiography Market By End User
12.3.2.7 Hungary
12.3.2.7.1 Hungary Industrial Radiography Market By Imaging Technique
12.3.2.7.2 Hungary Industrial Radiography Market By Radiation Type
12.3.2.7.3 Hungary Industrial Radiography Market By End User
12.3.2.8 Turkey
12.3.2.8.1 Turkey Industrial Radiography Market By Imaging Technique
12.3.2.8.2 Turkey Industrial Radiography Market By Radiation Type
12.3.2.8.3 Turkey Industrial Radiography Market By End User
12.3.2.9 Rest of Eastern Europe
12.3.2.9.1 Rest of Eastern Europe Industrial Radiography Market By Imaging Technique
12.3.2.9.2 Rest of Eastern Europe Industrial Radiography Market By Radiation Type
12.3.2.9.3 Rest of Eastern Europe Industrial Radiography Market By End User
12.3.3 Western Europe
12.3.3.1 Western Europe Industrial Radiography Market by Country
12.3.3.2 Western Europe Industrial Radiography Market By Imaging Technique
12.3.3.3 Western Europe Industrial Radiography Market By Radiation Type
12.3.3.4 Western Europe Industrial Radiography Market By End User
12.3.3.5 Germany
12.3.3.5.1 Germany Industrial Radiography Market By Imaging Technique
12.3.3.5.2 Germany Industrial Radiography Market By Radiation Type
12.3.3.5.3 Germany Industrial Radiography Market By End User
12.3.3.6 France
12.3.3.6.1 France Industrial Radiography Market By Imaging Technique
12.3.3.6.2 France Industrial Radiography Market By Radiation Type
12.3.3.6.3 France Industrial Radiography Market By End User
12.3.3.7 UK
12.3.3.7.1 UK Industrial Radiography Market By Imaging Technique
12.3.3.7.2 UK Industrial Radiography Market By Radiation Type
12.3.3.7.3 UK Industrial Radiography Market By End User
12.3.3.8 Italy
12.3.3.8.1 Italy Industrial Radiography Market By Imaging Technique
12.3.3.8.2 Italy Industrial Radiography Market By Radiation Type
12.3.3.8.3 Italy Industrial Radiography Market By End User
12.3.3.9 Spain
12.3.3.9.1 Spain Industrial Radiography Market By Imaging Technique
12.3.3.9.2 Spain Industrial Radiography Market By Radiation Type
12.3.3.9.3 Spain Industrial Radiography Market By End User
12.3.3.10 Netherlands
12.3.3.10.1 Netherlands Industrial Radiography Market By Imaging Technique
12.3.3.10.2 Netherlands Industrial Radiography Market By Radiation Type
12.3.3.10.3 Netherlands Industrial Radiography Market By End User
12.3.3.11 Switzerland
12.3.3.11.1 Switzerland Industrial Radiography Market By Imaging Technique
12.3.3.11.2 Switzerland Industrial Radiography Market By Radiation Type
12.3.3.11.3 Switzerland Industrial Radiography Market By End User
12.3.3.1.12 Austria
12.3.3.12.1 Austria Industrial Radiography Market By Imaging Technique
12.3.3.12.2 Austria Industrial Radiography Market By Radiation Type
12.3.3.12.3 Austria Industrial Radiography Market By End User
12.3.3.13 Rest of Western Europe
12.3.3.13.1 Rest of Western Europe Industrial Radiography Market By Imaging Technique
12.3.3.13.2 Rest of Western Europe Industrial Radiography Market By Radiation Type
12.3.3.13.3 Rest of Western Europe Industrial Radiography Market By End User
12.4 Asia-Pacific
12.4.1 Trend Analysis
12.4.2 Asia-Pacific Industrial Radiography Market by Country
12.4.3 Asia-Pacific Industrial Radiography Market By Imaging Technique
12.4.4 Asia-Pacific Industrial Radiography Market By Radiation Type
12.4.5 Asia-Pacific Industrial Radiography Market By End User
12.4.6 China
12.4.6.1 China Industrial Radiography Market By Imaging Technique
12.4.6.2 China Industrial Radiography Market By Radiation Type
12.4.6.3 China Industrial Radiography Market By End User
12.4.7 India
12.4.7.1 India Industrial Radiography Market By Imaging Technique
12.4.7.2 India Industrial Radiography Market By Radiation Type
12.4.7.3 India Industrial Radiography Market By End User
12.4.8 Japan
12.4.8.1 Japan Industrial Radiography Market By Imaging Technique
12.4.8.2 Japan Industrial Radiography Market By Radiation Type
12.4.8.3 Japan Industrial Radiography Market By End User
12.4.9 South Korea
12.4.9.1 South Korea Industrial Radiography Market By Imaging Technique
12.4.9.2 South Korea Industrial Radiography Market By Radiation Type
12.4.9.3 South Korea Industrial Radiography Market By End User
12.4.10 Vietnam
12.4.10.1 Vietnam Industrial Radiography Market By Imaging Technique
12.4.10.2 Vietnam Industrial Radiography Market By Radiation Type
12.4.10.3 Vietnam Industrial Radiography Market By End User
12.4.11 Singapore
12.4.11.1 Singapore Industrial Radiography Market By Imaging Technique
12.4.11.2 Singapore Industrial Radiography Market By Radiation Type
12.4.11.3 Singapore Industrial Radiography Market By End User
12.4.12 Australia
12.4.12.1 Australia Industrial Radiography Market By Imaging Technique
12.4.12.2 Australia Industrial Radiography Market By Radiation Type
12.4.12.3 Australia Industrial Radiography Market By End User
12.4.13 Rest of Asia-Pacific
12.4.13.1 Rest of Asia-Pacific Industrial Radiography Market By Imaging Technique
12.4.13.2 Rest of Asia-Pacific Industrial Radiography Market By Radiation Type
12.4.13.3 Rest of Asia-Pacific Industrial Radiography Market By End User
12.5 Middle East & Africa
12.5.1 Trend Analysis
12.5.2 Middle East
12.5.2.1 Middle East Industrial Radiography Market by Country
12.5.2.2 Middle East Industrial Radiography Market By Imaging Technique
12.5.2.3 Middle East Industrial Radiography Market By Radiation Type
12.5.2.4 Middle East Industrial Radiography Market By End User
12.5.2.5 UAE
12.5.2.5.1 UAE Industrial Radiography Market By Imaging Technique
12.5.2.5.2 UAE Industrial Radiography Market By Radiation Type
12.5.2.5.3 UAE Industrial Radiography Market By End User
12.5.2.6 Egypt
12.5.2.6.1 Egypt Industrial Radiography Market By Imaging Technique
12.5.2.6.2 Egypt Industrial Radiography Market By Radiation Type
12.5.2.6.3 Egypt Industrial Radiography Market By End User
12.5.2.7 Saudi Arabia
12.5.2.7.1 Saudi Arabia Industrial Radiography Market By Imaging Technique
12.5.2.7.2 Saudi Arabia Industrial Radiography Market By Radiation Type
12.5.2.7.3 Saudi Arabia Industrial Radiography Market By End User
12.5.2.8 Qatar
12.5.2.8.1 Qatar Industrial Radiography Market By Imaging Technique
12.5.2.8.2 Qatar Industrial Radiography Market By Radiation Type
12.5.2.8.3 Qatar Industrial Radiography Market By End User
12.5.2.9 Rest of Middle East
12.5.2.9.1 Rest of Middle East Industrial Radiography Market By Imaging Technique
12.5.2.9.2 Rest of Middle East Industrial Radiography Market By Radiation Type
12.5.2.9.3 Rest of Middle East Industrial Radiography Market By End User
12.5.3 Africa
12.5.3.1 Africa Industrial Radiography Market by Country
12.5.3.2 Africa Industrial Radiography Market By Imaging Technique
12.5.3.3 Africa Industrial Radiography Market By Radiation Type
12.5.3.4 Africa Industrial Radiography Market By End User
12.5.3.5 Nigeria
12.5.3.5.1 Nigeria Industrial Radiography Market By Imaging Technique
12.5.3.5.2 Nigeria Industrial Radiography Market By Radiation Type
12.5.3.5.3 Nigeria Industrial Radiography Market By End User
12.5.3.6 South Africa
12.5.3.6.1 South Africa Industrial Radiography Market By Imaging Technique
12.5.3.6.2 South Africa Industrial Radiography Market By Radiation Type
12.5.3.6.3 South Africa Industrial Radiography Market By End User
12.5.3.7 Rest of Africa
12.5.3.7.1 Rest of Africa Industrial Radiography Market By Imaging Technique
12.5.3.7.2 Rest of Africa Industrial Radiography Market By Radiation Type
12.5.3.7.3 Rest of Africa Industrial Radiography Market By End User
12.6 Latin America
12.6.1 Trend Analysis
12.6.2 Latin America Industrial Radiography Market by country
12.6.3 Latin America Industrial Radiography Market By Imaging Technique
12.6.4 Latin America Industrial Radiography Market By Radiation Type
12.6.5 Latin America Industrial Radiography Market By End User
12.6.6 Brazil
12.6.6.1 Brazil Industrial Radiography Market By Imaging Technique
12.6.6.2 Brazil Industrial Radiography Market By Radiation Type
12.6.6.3 Brazil Industrial Radiography Market By End User
12.6.7 Argentina
12.6.7.1 Argentina Industrial Radiography Market By Imaging Technique
12.6.7.2 Argentina Industrial Radiography Market By Radiation Type
12.6.7.3 Argentina Industrial Radiography Market By End User
12.6.8 Colombia
12.6.8.1 Colombia Industrial Radiography Market By Imaging Technique
12.6.8.2 Colombia Industrial Radiography Market By Radiation Type
12.6.8.3 Colombia Industrial Radiography Market By End User
12.6.9 Rest of Latin America
12.6.9.1 Rest of Latin America Industrial Radiography Market By Imaging Technique
12.6.9.2 Rest of Latin America Industrial Radiography Market By Radiation Type
12.6.9.3 Rest of Latin America Industrial Radiography Market By End User
13. Company Profiles
13.1 3DX-RAY Ltd
13.1.1 Company Overview
13.1.2 Financial
13.1.3 Products/ Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Anritsu Corporation
13.2.1 Company Overview
13.2.2 Financial
13.2.3 Products/ Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 PerkinElmer Inc
13.3.1 Company Overview
13.3.2 Financial
13.3.3 Products/ Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Shimadzu Corporation
13.4.1 Company Overview
13.4.2 Financial
13.4.3 Products/ Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Nikon Corporation
13.5.1 Company Overview
13.5.2 Financial
13.5.3 Products/ Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 COMET Holding AG
13.6.1 Company Overview
13.6.2 Financial
13.6.3 Products/ Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Bosello High Technology SRL
13.7.1 Company Overview
13.7.2 Financial
13.7.3 Products/ Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 General Electric
13.8.1 Company Overview
13.8.2 Financial
13.8.3 Products/ Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 FUJIFILM Holdings Corporation
13.9.1 Company Overview
13.9.2 Financial
13.9.3 Products/ Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Mettler-Toledo International Inc
13.10.1 Company Overview
13.10.2 Financial
13.10.3 Products/ Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions
15. Use Case and Best Practices
16. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Machine Condition Monitoring Market Size was valued at USD 2.32 billion in 2022 and is expected to reach USD 3.63 billion by 2030 and grow at a CAGR of 5.7% over the forecast period 2023-2030.
Sticker Printer Market size was valued at USD 2983 Million in 2022 and is expected to grow to USD 5323.89 Million by 2030 and grow at a CAGR of 7.51% over the forecast period of 2023-2030
The Robotic Vision Market Size was valued at USD 2.5 billion in 2023 and is expected to reach USD 5.99 billion by 2032 and grow at a CAGR of 10.2% over the forecast period 2024-2032.
The Automated Sortation System Market size was valued at USD 8.7 billion in 2023 and is expected to grow to USD 15.36 billion by 2031 and grow at a CAGR of 7.3% over the forecast period of 2024-2031.
The Insulated Gate Bipolar Transistor Market size was valued at USD 5.95 Billion in 2022 and is expected to grow to USD 12.57 Billion by 2030 and grow at a CAGR Of 9.8% over the forecast period of 2023-2030.
Automation and Control Market Size was valued at USD 448.3 billion in 2023 and is expected to reach USD 1018.4 billion by 2031, growing at a CAGR of 10.8% over the forecast period 2024-2031.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
