Video Inspection Equipment Market Size & Industry Growth 2028

Video Inspection Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component (Cameras, Transporters, Monitors & Recorders, Software, and Others), Application (Drain & Sewer, Electrical Conduit & Ducts, Pipeline, and Others), and End User (Oil & Gas, Manufacturing & Construction, Food & Beverages, Chemicals & Pharmaceuticals, and Others)

Publication Month : Nov 2021

  • Report Code : TIPRE00004105
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 172
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The video inspection equipment market size is expected to grow from US$ 1,311.63 million in 2021 to US$ 1,834.35 million by 2028; it is estimated to grow at a CAGR of 4.9% during 2021-2028.

The count of sewer operations across the world is increasing Market Share at an exponential rate. To ensure the uninterrupted performance of drainage systems and sewer lines in the industrial, commercial, and residential sectors, timely maintenance and cleaning service is needed. The local government authorities of developed nations, such as the US, are investing considerably in sewage works. The United States Department of Agriculture (USDA) administers various water and waste disposal programs, and also grants & loans for sanitary sewer, drinking water, and storm drainage facilities in rural communities. The eligibility of such programs is limited to rural communities with a population of 10,000 people or fewer for direct loans and grants and 50,000 or lesser for guaranteed loans. Such initiatives are also aiding the growth of the video inspection equipment market. Also, such investments are utilized for operating and renovating water and sewer systems in the country. For instance, in 2018, Irish Water invested approximately € 263.072 million in its wastewater infrastructure program to enhance Ireland’s wastewater infrastructure. However, according to the Environmental Protection Agency (EPA), due to underinvestment, treatment plants and public sewers lack development. These factors are increasing the use of advanced drainage services, primarily video inspection equipment Industry. Sewer video cameras and locate equipment inspect drainages, pipes, and sewers to locate blocks if any. Homeowners or industrialists want video inspection tools and services to fix blockages that they cannot fix by plunging, liquid drain cleaners, and sewer or drain auguring.

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Video Inspection Equipment Market: Strategic Insights

video-inspection-equipment-market
Market Size Value inUS$ 1,311.63 Million in 2021
Market Size Value byUS$ 1,834.35 Million by 2028
Growth rateCAGR of 4.9% from 2020-2027
Forecast Period2021-2028
Base Year2021
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Impact of COVID-19 Pandemic on Video Inspection Equipment Market

The Asia Pacific region is characterized by the presence of a large number of developing countries, a positive economic outlook, a high industrial presence, and a huge population. The high growth rate of urbanization and industrialization in developing countries of the Asia Pacific region is anticipated to offer ample growth opportunities to the global video inspection equipment market Size vendors, as the investments in industrial development is quite high in the region. These factors make APAC a major growth and Share driving region in the global video inspection equipment market. In addition to this, APAC is a global manufacturing hub with countries such as China, Japan, South Korea, and India leading the global electronics and semiconductor industry growth. The ongoing COVID-19 is anticipated to cause huge disruptions in the growth of various industries of the Asia Pacific region. For instance, China is the global hub of manufacturing and largest raw material supplier for various industries and it is among one of the worst affected COVID-19 countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting manufacturing, delivery schedules, and sales of various electronic products and hardware components in the global video inspection equipment market. China had also emerged from a 2-month containment phase and moved into the mitigation stage during 2020; however, the economic growth is still slow due to uncertainty and the recent comeback of COVID-19 cases in China. India is another country where COVID-19 cases had been rising constantly and industrial activities were halted due to nationwide lockdown. Hence, the disruptions in the supply of raw materials and electronic components from China & other Asian countries have affected the manufacturing of products across the global video inspection equipment market share and thus impacted the market growth during FY 2020. Moreover, India is the fastest growing country in the global and APAC video inspection equipment market, according to the research study. India is also expected to surpass its 2019 market levels by 2022 only whereas other countries are expected to surpass their 2019 market levels by 2023, according to the research study.

Lucrative Regions for Video Inspection Equipment Providers

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Video Inspection Equipment Market Size Insights

Increase in Manufacturing and Constructional Projects Fuels Growth of Video Inspection Equipment Market

A considerable growth in construction projects across the residential, commercial, and industrial sectors is contributing remarkably toward the adoption of drainage services. The video inspection equipment tools are widely utilized to locate exact places of clogs before purchasing any industrial land or property. In a constantly changing world, the job of a municipal engineer has become more complex, with intensifying complexity of rules and regulations, covering the underground environment. Hence, contractors and municipal technicians have to ensure that the complete survey in underground infrastructure is conducted before initiating any other activity. The video inspection equipment Industry tools, including transporters, cameras, and recorders, are used in municipal verticals for inspection purposes. Considering the portability, robustness, reliability, and lightweight of video inspection equipment Market tools, these are broadly needed across the manufacturing & construction industry. The increasing requirement for remote-operated inspection systems is one factor that stimulates the demand for cameras in the manufacturing & construction industry and hence aiding the growth of global video inspection equipment market. Moreover, various localities and municipalities are using inspection cameras to improve the monitoring of clogs or blockages, propelling the penetration rate of video inspection equipment Industry within the manufacturing industry worldwide. This is also propelling the global video inspection equipment market growth worldwide.

Application-Based Market Insights

Based on application, the video inspection equipment market size is segmented into drain & sewer, electrical conduit & ducts, pipeline, and others. In 2020, the drain & sewer segment accounted for the largest market share across the global video inspection equipment market.

Video Inspection Equipment Market share, by Application, 2020 and 2028 (%)

Video Inspection Equipment Market share, by Application, 2020 and 2028 (%)
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End User - Based Market Insights

Based on end user, the video inspection equipment market share is segmented into oil & gas, manufacturing & construction, food & beverages, chemicals & pharmaceuticals, and others. In 2020, the oil & gas segment accounted for the largest share in the global video inspection equipment market.

The players operating in the video inspection equipment market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In June 2021, IBAK Helmut Hunger GmbH & Co. KG announced that it is working on software for easing the inspector's workload during inspection data capture. The company stated that AI of the software aims to enable standard features and automatic identification of defects.
  • In March 2020, Rausch and minCam joined forces to leverage their synergies to strengthen their market place in the growing global CCTV industry. The merger aims to become an international leader with a broad portfolio of products in CCTV industry and leak testing systems for sewer inspections to continue the strong past growth.

The Global Video Inspection Equipment Market Size Has Been Segmented as Mentioned Below:

Video Inspection Equipment Market By Component

  • Cameras
  • Transporters
  • Monitors & Recorders
  • Software
  • Other Components

Video Inspection Equipment Market By Application

  • Drain & Sewer
  • Electrical Conduit & Ducts
  • Pipeline
  • Other Applications

Video Inspection Equipment Market By End User

  • Oil & Gas
  • Manufacturing & Construction
  • Food & Beverages
  • Chemicals & Pharmaceuticals
  • Other End Users

Video Inspection Equipment Market By Geography

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)
    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles: Video Inspection Equipment Market

  • Envirosight LLC
  • Hathorn Corporation
  • CUES, Inc.
  • Aries Industries, Inc.
  • Rausch Electronics USA, LLC
  • Subsite Electronics
  • IBAK Helmut Hunger GmbH & Co. KG
  • Vivax-Metrotech Corp.
  • Extech Instruments
  • CDS Manufacturing
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Application, End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are key driving factors behind video inspection equipment market growth?

The video inspection equipment have been in use for several years worldwide, however, the technology has been experiencing immense demand in recent years. The rise in manufacturing and constructional projects is supporting the growth of video inspection equipment market. Moreover, rising awareness for efficient sewage infrastructure is also driving the video inspection equipment market.

What are key market opportunities for video inspection equipment market?

Continuous growing activates in oil & gas industry is bolstering the sales of video inspection equipment’s. Advanced technology integration in video inspection equipment for enhanced capabilities will also provide growth opportunities to the market players during the forecast period.

Which application dominated the market in 2020?

The global video inspection equipment market was dominated by the drain & sewer segment with market share of 42.04% in 2021. The increasing awareness among the market players about the advantages of the drain & sewer is projected to increase investments in the segment, which lead to an increased production and sales, thereby boosting the segment growth. 

Which region has dominated the video inspection equipment market in 2020?

In 2021, North America led the market with a substantial revenue share, followed by Europe and APAC. Asia Pacific is a prospective market for video inspection equipment market players.

Which are the major companies operating in the video inspection equipment market?

The major companies in video inspection equipment includes CUES Inc., Subsite Electronics, Aries Industries, Inc., Vivax-Metrotech Corp, and Rausch Electronics USA, LLC. The ranking has been derived analysing multiple parameters such as annual revenue earned from video inspection equipment portfolio, client base, geographic locations, R&D expenditure, brand image, and number of employees, among others. These companies are actively participating in developing video inspection equipment for various applications.

The List of Companies - Video inspection equipment market

  1. Aries Industries, Inc.
  2. CUES Inc. (SPX Corporation)
  3. Subsite Electronics
  4. Vivax-Metrotech Corp
  5. Rausch Electronics USA, LLC
  6. Envirosight LLC
  7. Hathorn Corporation
  8. IBAK Helmut Hunger GmbH & Co. KG
  9. CDS Corporation
  10. Extech (Flir Systems Inc.)

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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