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Advent of Portable Radiography Equipment to Emerge as a Key Trend for the Global Industrial Radiography Equipment Market Until 2020, Says TechnavioTechnavio's latest report on the global industrial radiography equipment market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline. According to Sunil Kumar Singh, a lead analyst at Technavio for research on computing devices, "The global industrial radiography equipment market is expected to grow at a CAGR of nearly 9% over the next four years. The market has a wide scope across multiple sectors, which is one of the main reasons for the steady growth of the market. The automotive and aerospace sectors have increased their spending on radiography equipment." The report also categorizes the market into two major technologies: digital radiography and film-based radiography. Digital radiography is labeled the fastest growing segment of industrial radiography equipment and will account for 81.29% market share by 2020. In digital radiography, the inspection is computer-aided, which provides accurate results, consistent image quality, less radiation level, and low per image cost. With the growing importance of reducing exposure to radiation, digital radiography is increasingly being used. The top three emerging trends driving the global industrial radiography equipment market according to Technavio hardware research analysts are:
Emergence of portable radography equipment The introduction of portable radiography equipment that is fully automated, versatile, and easy to use will generate interest among end-users. These systems reduce the cost of testing, as end-users that do not have in-house radiography equipment often get their products tested at the vendor's location. Portable radiography equipment cost less compared to their conventional counterparts. The adoption of such systems is increasing as end-users can test multiple objects at different locations using a single device. However, data accuracy and size of the objects are limited and are not suitable for applications that require higher accuracy. Manufacture of customized equipment Test machines with integrated solutions are customized for clients for tube or bar manufacturing and rolling processes for plate manufacturing. This equipment is required for a wide variety of applications and is specially used in production lines for testing products for different end-user segments. Customizing the equipment is a challenge for vendors. In the coming years, the trend of customized radiography equipment can act as a positive growth factor if vendors manage to meet customers' specific requirements efficiently. Vendors need to understand customer's problems and develop solutions in accordance with their business requirements before developing a product. This trend could also affect the market negatively if manufacturers are not able to match customers' expectations. Miniaturization of equipment As most inspection activities are carried out at different locations and positions, the development of miniaturized testing equipment is rising. For example, the equipment used to test automotive components and other minute components is required to be small. Radiography equipment used at oil rigs at positions that are tough to access needs to be compact and lightweight for easy examination. "Advances in manufacturing technologies and new compact devices that are compact and flexible will propel the market's growth. Vendors are reducing the size of their products to cater to this emerging demand," adds Sunil. Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected].
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