According to our latest market study on “Video Inspection Equipment Market to 2027– COVID-19 Impact, Global Analysis& forecastby Component (Cameras, Transporters, Monitors & Recorders, Software, and Others); Application (Drain & Sewer, Electrical Conduit & Ducts, Pipeline, and Others); End User (Oil & Gas, Manufacturing & Construction, Food & Beverages, Chemicals & Pharmaceuticals, and Others); and Geography,” the market was valued at US$ 1.36billion in 2019 and is projected to reach US$ 2.05billion by 2027; it is expected to grow at a CAGR of 5.5% from 2020 to 2027.
The Global Video Inspection Equipment Market is anticipated to rise at a considerable rate over the estimated period between 2020 and 2027. The Global Video Inspection Equipment Market Industry Research Report is an exhaustive study and a detailed examination of the recent scenario of the Global Video Inspection Equipment industry.
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In terms of growth, APAC is anticipated to be the fastest-growing region with an impressive CAGR of 7.0% during 2020–2027. APAC region includes various developing economies such as China, India, and several southeast countries as well as developed economies such as Japan and South Korea. In developing nations such China and India, the manufacturing & construction and oil & gas industry are rising at an impressive pace owing to the increasing urbanization, supportive government policies, and growing number of public private partnerships in infrastructure sector.
Major Key Players Covered In This Report:
The study conducts SWOT analysis to evaluate strengths and weaknesses of the key players in the Video Inspection Equipment market. Further, the report conducts an intricate examination of drivers and restraints operating in the market. The report also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal with regard to different segments. The report predicts the influence of different industry aspects on the Video Inspection Equipment market segments and regions.
Geographically, the video inspection equipment market is broadly segmented into North America, Europe, APAC, MEA, and SAM. North America held the largest share of the global video inspection equipment market owing to the increase in use of transporters, inspection cameras in manufacturing and oil & gas industries. Moreover, the investment made by local authorities to improve drainage and sewer system is also propelling the growth of the market in North America.
In 2019, the region contributed ~35% to the overall video inspection equipment market. Additionally, a few steps are undertaken by the market players for the penetration of video inspection equipment in the system. In terms of market share, Europe and APAC held the second and third position respectively in 2019. Europe is a crucial market for the growth of video inspection equipment market during the forecast period. The region is characterized with the presence of well-developed nations such as Germany, the UK, and France which drives the development of advanced technologies. The presence of various video inspection equipment manufacturers in Europe is contributing to the growth of the market.
The research on the Video Inspection Equipment market focuses on mining out valuable data on investment pockets, growth opportunities, and major market vendors to help clients understand their competitor’s methodologies. The research also segments the Video Inspection Equipment market on the basis of end user, product type, application, and demography for the forecast period 2020–2027. Comprehensive analysis of critical aspects such as impacting factors and competitive landscape are showcased with the help of vital resources, such as charts, tables, and infographics.
This report strategically examines the micro-markets and sheds light on the impact of technology upgrades on the performance of the Video Inspection Equipment market.
Video Inspection Equipment Market Segmented by Region/Country: North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America
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