According to a new report, published by KBV research, The Global Fault Detection and Classification (FDC) Market size is expected to reach $8.2 billion by 2030, rising at a market growth of 9.2% CAGR during the forecast period.
The Packaging segment is exhibiting a CAGR of 10.6% during (2023 - 2030). FDC systems inspect the integrity of seals in packaging, such as blister packs, sachets, pouches, and cartons. They detect leaks, improper seals, or contamination that compromise product quality or safety. To ensure accuracy and legibility, FDC systems inspect printed information on packaging materials, such as expiry dates, lot numbers, barcodes, and logos. FDC systems examine packaging materials for defects or contamination that affect product quality.
The Hardware segment is generating the highest revenue in the Global Fault Detection and Classification (FDC) Market by Component in 2022; thereby, achieving a market value of $4.2 billion by 2030. Sensors are critical hardware components that collect data from the production process. They measure temperature, pressure, flow rate, voltage, current, and other process variables. These sensors provide real-time data that can be analyzed for anomalies. Communication hardware, such as Ethernet switches, routers, and cables, transfer data from the sensors and data acquisition systems to the central FDC software for analysis.
The Automotive segment is experiencing a CAGR of 9.6% during (2023 - 2030). FDC is employed in automotive manufacturing processes to monitor and maintain product quality. It helps identify defects, variations, or anomalies in the manufacturing process, such as deviations in paint quality, welding defects, and dimensional inaccuracies. Automotive assembly lines are complex, with numerous components and processes. FDC systems continuously monitor these assembly processes to ensure all components are correctly installed, tightened, and aligned, reducing the likelihood of assembly errors.
The Asia Pacific region dominated the Global Fault Detection and Classification (FDC) Market by Region in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $3.3 billion by 2030. The Europe market is anticipated to grow a CAGR of 9% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 8.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/fault-detection-and-classification-market/
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 Applied Materials, Inc., KLA Corporation, Siemens AG, Microsoft Corporation, Amazon Web Services, Inc, Tokyo Electron Ltd., OMRON Corporation, Teradyne, Inc., Cognex Corporation and Advantest Corporation.
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