Imaging Colorimeters Market Size Report, Industry Share, Analysis, Growth, Forecast, 2030

Imaging Colorimeters Industry Prospective:

The global imaging colorimeters market size was worth around USD 502.34 million in 2022 and is predicted to grow to around USD 859.64 million by 2030 with a compound annual growth rate (CAGR) of roughly 6.95% between 2023 and 2030.

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The report delves deeper into several crucial aspects of the global imaging colorimeters market. It includes a detailed discussion of existing growth factors and restraints. Future growth opportunities and challenges that impact the imaging colorimeters industry are comprehensively addressed in the report.

Imaging Colorimeters Market: Overview

A colorimeter is a part of the colorimetry field which deals with establishing the concentration of colored components in a given solution. Colorimeters are devices used for this study. On the other hand, an imaging colorimeter is an advanced device with a large testing capacity and built-in microprocessor used for measuring absorbance value at a certain light wavelength.

They have various applications across industries that need to characterize or quantify the properties of color. They are made of 4 crucial components that aid processes such as light capturing, filtering, processing, and analyzing. For instance, the camera and sensor installed on the colorimeter help to capture the light reflected by an object.

The filtering section is used to ensure that the light captured is as per human perception or response to light. The installed microprocessor assists in processing the data with the last step being analyzing the information and providing meaningful results that can be of use to the user.

Key Insights:

• As per the analysis shared by our research analyst, the global imaging colorimeters market is estimated to grow annually at a CAGR of around 6.95% over the forecast period (2023-2030)
• In terms of revenue, the global imaging colorimeters market size was valued at around USD 502.34 million in 2022 and is projected to reach USD 859.64 million, by 2030.
• The imaging colorimeters market is projected to grow at a significant rate due to the growing innovation in display technology
• Based on application segmentation, the display test was predicted to show maximum market share in the year 2022
• Based on type segmentation, full frame charge-coupled device (CCD) was the leading type in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Imaging Colorimeters Market: Growth Drivers

Rising innovation in display technology to drive market growth

The global imaging colorimeters market is expected to be driven by the rising rate of innovation in display technology which deals with screens and monitors used by the general population, government institutes, along with commercial and industrial applications.

Imaging colorimeters are used extensively by manufacturers of liquid-crystal displays (LCDs), light-emitting diode (LED) displays, and other advanced versions such as organic LED or OLED displays. Consumer awareness regarding product availability driven by the growing number of options in the commercial market has increased tremendously.

In addition to this, there has been a steady growth in consumer purchasing power as more people are willing to spend on advanced electronic systems that match their way of living. In April 2023, Samsung Display announced that it will be spending nearly USD 3.1 billion in the South Korean economy for the production of OLED screens. The country is already expecting an additional investment of 25 trillion won in the next 5 years. The investment will be used for research & development (R&D) purposes to create strategic technologies including artificial intelligence in this sector.

Rising middle-income families to contribute significant revenue

One of the largest consumer segments for display technology is the middle-income group. As reported by the Indian Brand Equity Foundation, India's middle-class population is projected to double by 2047 reaching 61% of the total population which is expected to help in regional economic reforms. This trend can be observed in several emerging economies including China, Thailand, and other nations. With continuous growth in the number of players offering affordable digital display solutions, the demand for imaging colorimeters is likely to grow.

Imaging Colorimeters Market: Restraints

Lack of large data range to restrict market expansion

Despite imaging colorimeters performing well in several industries, one of the key attributes of the device that could impact the global imaging colorimeters market growth is the lack of ability to provide a larger data range. For instance, certain colorimeters are not equipped with filters and light sources which restricts the scope of data measured. Moreover, they are unable to assist with color formation or find colorant strength. It depends on the camera and sensor resolution installed in imaging colorimeters. They are not versatile devices and can only be used for specific purposes.

Imaging Colorimeters Market: Opportunities

Growing applications in the automotive segment may create growth opportunities

The global sales volume of the imaging colorimeters industry is likely to witness a higher growth rate due to the increasing application of imaging colorimeters in the automotive industry, one of the fastest-growing industries globally. Consumers are increasingly seeking aesthetically pleasing passenger vehicles and ambient lighting helps in improving overall vehicle appearance. Automotive makers are investing heavily in researching the most appropriate and appealing ambient lighting solutions.

In March 2023, a technology firm in China developed a new system that promotes changes in car interior lights depending on the mood of the passenger. Huawei has patented the technology which works as per the heart rate of the driver. Further, imaging colorimeters are used for the production or research of other automotive parts including headlights. In May 2023, new pictures of the Tata Safari Facelift showed that the company may experiment with using new LED tail light designs along with other additions.

Imaging Colorimeters Market: Challenges

Growing diversity in the market to create growth challenges

There are several players in the imaging colorimeters industry operating at international and regional levels. However, although diversity is known to foster innovation, at the same time there is a risk of absence of quality control measures which can impact product output. Additionally, these devices are high-maintenance objects since they require frequent calibration which is a complex procedure to begin with. After excess use, the colorimeters may have to be replaced or at least some parts have to be changed which can become a tedious and time-consuming task. These factors are likely to create challenging situations for the industry players.

Imaging Colorimeters Market: Segmentation

The global imaging colorimeters market is segmented based on application, type, and region.

Based on application, the global market segments are surface inspection, display test, automotive solutions, keyboard inspection, and others. The highest growth was observed in the display test segment in 2022. During the forecast period, display tests are likely to lead with a CAGR of 7.49% driven by growing demand for commercial-grade latest display technologies. The rising consumer electronics group sector along with intensifying product penetration and exploration in emerging sectors will contribute to higher segmental growth. Imaging colorimeters have extensive use in determining display defects including screen damage, pixel defects, and any other physical imperfections.

Based on type, the imaging colorimeters industry is divided into interline transfer charge-coupled device (CCD), full frame charge-coupled device (CCD), and others. The highest market share was held by the full frame CCD segment mainly due to the higher performance value of the device as it offers high-density (HD) pixel arrays. They can also produce digital images with the highest resolutions. The interline transfer CCD segment is projected to grow at a CAGR of 7.21% due to its affordability and inexpensive manufacturing process.

Imaging Colorimeters Market: Report Scope

Imaging Colorimeters Market: Regional Analysis

North America to witness the highest growth

The global imaging colorimeters market is projected to be led by North America during the forecast period led by the presence of a robust and extensive consumer electronic goods sector. In 2022, more than 85.9% of the people in the high-income group were known to be owners of flat-screen televisions. Additionally, the region is witnessing higher investments in display technology.

In July 2023, Apple Inc. was reported to undertake partnerships with Samsung to build foldable MacBooks, one of the company’s most renowned product segments. As per reports, the company may unveil the product in 2025 if all goes well. In January 2023, it was reported that Apple is expected to start manufacturing display screens in-house by 2024. A favorable working environment along with the presence of a large consumer group for end-products could trigger regional growth.

Europe is the second-largest regional market led by the growing applications of imaging colorimeters in the pharmaceutical sector. The devices are used for several purposes including checking packaging quality, capsule or tablet color analysis, and understanding product stability. With the rising pharmaceutical industry in Europe, applications of advanced colorimeters will be a by-product.

Imaging Colorimeters Market: Competitive Analysis

The global imaging colorimeters market is led by players like:

• JETI Technische Instrumente GmbH
• Konica Minolta Sensing
• Gooch & Housego PLC
• X-Rite Incorporated
• Photo Research Inc.
• Radiant Vision Systems
• Colorix SA
• TechnoTeam Bildverarbeitung GmbH
• UPRtek
• Admesy BV
• Everfine Photo-E-Info Co. Ltd.
• Instrument Systems GmbH
• Eurolighting GmbH
• Pro-Lite Technology Ltd.
• Elcometer Limited
• Datacolor AG
• Instrument Systems Optische Messtechnik GmbH
• Konica Minolta Inc.
• PRISMS Inc.
• Hangzhou Hopoo Light & Color Technology Co. Ltd.
• ELDIM SAS

The global imaging colorimeters market is segmented as follows:

By Application

• Surface Inspection
• Display Test
• Automotive Solutions
• Keyboard Inspection
• Others

By Type

• Interline Transfer Charge-Coupled Device (CCD)
• Full Frame Charge-Coupled Device (CCD)
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa