Technavio, a leading provider of market research reports, has released its latest study on Automated Industrial Quality Control (Qc) Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges. In the realm of manufacturing, the trend towards reshoring - or the return of production bases to a company's home country - is gaining momentum. Escalating labor costs driven by growing economies, are eroding profit margins for overseas manufacturers. Consequently, many companies with manufacturing operations in developing countries are considering relocating their production back to developed nations. This shift is not limited to the US, which is actively encouraging local manufacturers to bring their manufacturing plants home through various incentives.
The global automated industrial quality control (qc) market size is estimated to grow by USD 269.5 mn from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 5.97% during the forecast period. Growing importance of accuracy in quality control processes is driving market growth, with a trend towards reshoring of manufacturing industry However, lack of effective interoperability poses a challenge. Some of the key industry leaders include ABB Ltd., ATS Automation Tooling Systems Inc., Carl Zeiss Stiftung, Emerson Electric Co., General Electric Co., Honeywell International Inc., IVISYS, KEYENCE CORP., MasterControl Solutions Inc., Mitsubishi Electric Corp., NANOTRONICS IMAGING INC., OMRON Corp., Renishaw Plc, RNA Automation Ltd., Rockwell Automation Inc., Schneider Electric SE, Shelton Machines Ltd., Siemens AG, Texas Instruments Inc., and Yokogawa Electric Corp..
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Regulatory Influence on Market Growth: The focus on maintaining dimensional accuracy and high production standards is increasing the demand for automated quality control systems. As industries strive to meet certification requirements and regulatory expectations, the need for advanced quality control solutions is expected to fuel market growth during the forecast period.
Interoperability Challenges: The growth of the automated industrial quality control market is hindered by interoperability issues. As modern industrial systems become more complex with various devices and configurations, integrating different systems becomes problematic, particularly if interfaces cannot support the latest technologies. This lack of compatibility and integration poses significant challenges for end-users.
Legacy System Integration Difficulties: Industries such as automotive, electronics, metal, and food and beverage face additional difficulties due to reliance on legacy systems. The integration of automated quality control solutions is complicated by these outdated systems, and replacing them can be costly. These interoperability and replacement challenges are expected to limit market growth during the forecast period.
The Automated Industrial Quality Control (QC) market is a significant segment of the expansive global electrical components and equipment market. This market encompasses businesses specializing in the production of automated systems for inspecting and ensuring the quality of electrical components and equipment. The parent market, which includes manufacturers of electrical cables and wires, electrical components, and electrical equipment, generates substantial revenue from various sectors such as water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Furthermore, the market size is expanded to incorporate the revenue from renting and leasing electrical components and equipment to industrial, commercial, and residential end-users.
The Automated Industrial Quality Control (Qc) Market is experiencing significant growth, fueled by the Growing importance of accuracy in quality control processes. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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European companies are increasingly adopting the smart factory model to boost the efficiency of industrial robots. For example, in March 2023, Schneider Electric SE announced a major investment in a new smart factory in Dunavesce, Hungary. Sectors like food and beverage and automotive are expected to significantly enhance their use of robots and automated quality control solutions to improve process safety and effectiveness.
This shift presents substantial growth opportunities for vendors in the region. The rise of smart factories is driving expansion in the automated industrial quality control solutions market across Europe. Leading firms in both process and discrete industries are leveraging advanced technologies to enhance productivity and reduce production costs. These trends are anticipated to create significant opportunities for automated industrial quality control vendors in Europe, fueling market growth during the forecast period.
The Automated Industrial Quality Control (QC) market is experiencing significant growth due to the integration of digital technology, cloud-based services, industrial robots, automation devices, and advanced industrial control systems. These technologies are revolutionizing the way quality control is managed in industries, ensuring consistent and accurate results. In the healthcare sector, the application of Automated Industrial QC is making strides in areas such as cancer diagnosis, chronic diseases, autoimmune disorders, and infectious illnesses. With the use of molecular diagnostics, immunochemistry, in vitro diagnostics, and industrial sensors, healthcare providers can deliver more precise and timely diagnoses. Cloud computing, HMI (Human-Machine Interface), SCADA, physics-based modeling, machine learning, and augmented reality (AR) are some of the advanced technologies driving the Industrial Automation Market. For instance, cloud-based services enable remote monitoring and control of industrial processes, while machine learning algorithms help in predictive maintenance and anomaly detection. In home care and hospital settings, automated industrial quality control systems can help ensure the safety and efficacy of medical treatments. For example, industrial sensors can monitor the temperature and humidity levels in a hospital room, while machine learning algorithms can analyze patient data to identify potential health risks. Overall, the Automated Industrial Quality Control market is poised for growth, with applications ranging from manufacturing to healthcare, and from infectious illnesses to chronic diseases. The integration of advanced technologies such as cloud computing, industrial robots, and machine learning is set to transform the way we approach quality control and improve outcomes across various industries.
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