Digital imaging is process of creation of a digitally encoded representation of visual characteristics of an object. It is used to create digital images, which offers several advantages over images taken by analogue camera; primarily being that digital images can be used to make any number of copies over and over.
Technological advancements, coupled with increasing adoption of digital imaging technologies and increasing penetration of Internet and mobile devices are major factors boosting growth of the global digital imaging market currently. But, high costs associated with procurement and use of advanced digital imaging equipment and also with R&D are major factors hampering growth of the global market.
On the basis of end-use industries, the global digital imaging market is segmented into Oil & Gas, Aerospace, Automotive, Power Generation, Machinery, Public Infrastructure, Consumer Electronics, Semiconductor Fabrication, Food & Beverages, and Pharmaceutical. The automotive segment is projected to witness moderate growth over the forecast period.
The global digital imaging market report has been segmented on the basis of technology, end-use industries, and region. On the basis of region, the global digital imaging market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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The market in Asia Pacific accounted for highest share in terms of revenue in the global market, and is projected to maintain its dominance over the forecast period. This can be attributed to high adoption of digital imaging technologies in various end use industries in countries in the region. Moreover, increasing use of mobile devices and rising demand for proper digital imaging equipment, especially in automotive and pharmaceutical sectors are other major factors anticipated to propel growth of the Asia Pacific market over the forecast period. Revenue from the market in North America accounted for second-highest share and is closely followed by the markets in Europe, Latin America, and Middle East & Africa respectively. This is attributed to high disposable income and high adoption of digital imaging technologies in automotive and healthcare sectors in the region. Furthermore, the market in Asia Pacific is projected to witness significant growth over the forecast period, and is expected to register a CAGR of X.X%. This can be attributed to rapid industrialization in emerging economies in the region. Also, the markets in Latin America and Middle East & Africa are projected to witness moderate growth over the forecast period.
Prominent players in the global digital imaging market include General Electric Company, Olympus Corporation, Hexagon AB, Cognex Corporation, Nikon Corporation, Omron Corporation, AMETEK, Inc., Matrox, Teledyne Technologies, Inc., National Instruments Corporation, and Keyence Corporation.