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According to a new report, published by KBV research, The Global Inspection Camera System Market size is expected to reach $561.9 million by 2028, rising at a market growth of 11.0% CAGR during the forecast period.
The Hardware segment acquired maximum revenue share in the Global Inspection Camera System Market by Component in 2021 thereby, achieving a market value of $335.1 million by 2028. The market is anticipated to continue growing steadily during the forecast period, maintaining its leadership position. The camera's sturdy design provides imaging in a challenging setting. Better video quality has also been made possible by the development of camera lenses and display units.
The Drain Inspection segment is showcasing a CAGR of 10.7% during (2022 - 2028). Installing pipelines for drainage systems is necessary for developing smart cities, townships, and industrial and commercial areas with rapid urbanization growth. This is also anticipated to fuel product demand throughout the projection period. For instance, the Olympus Corporation's IPLEX GAir inspection camera system offers many features, including remote monitoring and maneuvering, high illumination for accurate video inspection, and more.
The SD & HD segment is leading the Global Inspection Camera System Market by Video Quality in 2021 thereby, achieving a market value of $346.4 million by 2028. Due to the increasing product demand and manufacturers' focus on creating cameras for the inspection of various applications, like pipeline inspection, medical inspection, and drain inspection, the Standard Definition & High Definition (SD & HD) segment dominated the market in 2021.
The Online segment has shown the growth rate of 13% during (2022 - 2028). During the projected period, the sector for online distribution channels is anticipated to increase at the fastest rate. The growth of this market is driven by end users' rising usage of online sales. In addition, customers who purchase goods distributed through online channels have a wide range of options and negotiating power since they can select from various applications, portals, and online merchants, like Amazon and Indiamart, based on the best price offered for the application and usage.
The Municipal segment is generating highest revenue share in the Global Inspection Camera System Market by End-use in 2021 thereby, achieving a market value of $232.2 million by 2028. The city's municipal corporation uses the inspection camera system extensively because they have to manage the water supply, sewage, drainage, power lines, etc., all of which require precise inspection. Regarding the drain inspection, this camera has a centering brush that keeps the camera head from contacting the pipe's bottom, which could harm it.
The North America market dominated the Global Inspection Camera System Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $189.3 million by 2028. The Europe market is exhibiting a CAGR of 10.3% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 11.9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Basler AG, Leica Microsystems GmbH (Danaher Corporation), Eddyfi Technologies, OmniVision Technologies, Inc., Canon, Inc., Omron Corporation, Pleora Technologies, Inc., Clarus Medical LLC, Kintronics Inc., and SPX Corporation.
By Video Quality
By Distribution Channel