Market Size of Industrial Computed Radiography Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 409.87 Million |
| Market Size (2029) | USD 573.00 Million |
| CAGR (2024 - 2029) | 6.93 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial Computed Radiography Market Analysis
The Industrial Computed Radiography Market size is estimated at USD 409.87 million in 2024, and is expected to reach USD 573 million by 2029, growing at a CAGR of 6.93% during the forecast period (2024-2029).
Computed radiography technology offers enormous advantages for inspection tasks, and the use of consumables is virtually eliminated, further reducing the time to produce an image. These factors are expected to increase market adoption.
- Minute details are visible and analyzable due to a higher dynamic range than a film in traditional x-ray machines. Further, it provides a simplified workflow, a safer working environment for operators, and a more environmentally-friendly chemical-free process.
- Various computed radiography vendors have improved digital radiography scanners, phosphor imaging plates, and software programs. As a result, new products have been introduced that directly meet the needs of industries such as aerospace and defense, oil and gas, etc.
- Various products on the market use cylinder or flat panel scanners with software ranging from 14-bit logarithmic to 16-bit linear. Minimum pixel sizes range from 12.5-25, 25-35, 35-70, and 70-100 pixels, resulting in significantly increased essential spatial resolution, signal-to-noise ratio values, and grey values to fulfill many of the current standards. These have a substantial impact on the likelihood of detecting faults in materials.
- Current CR scanners and phosphor imaging plates can scan resolutions of 12.5 - 25 (equal to D4/IX50 in radiography film). These fulfill the sensitivity criteria in specifications, such as 2% radiographic sensitivity or greater, and the likelihood of fault identification has increased significantly.
- However, high installation costs and further technological improvements may disrupt the market.
- As per the Gross Domestic Product (GDP) for the Q1 of 2020-21 released by the National Statistical Office and Ministry of Statistic and Program Institute (MOSPI) India, the impact of COVID-19 on the gross value-added of construction, manufacturing, and mining sector accounted for -12.6%, -9.4%, and -12.4%. Thus, the decline in the growth of these industries is expected to stall the market growth for a short period, impacting the market growth.
