Business Opportunities and Investment Strategies for Global Non Destructive Testing Software Market

Business Opportunities and Investment Strategies for Global Non-Destructive Testing (NDT) Software Market 2023-2033

Business Opportunities and Investment Strategies for Global Non Destructive Testing Software Market

Business Opportunities and Investment Strategies for Global Non-Destructive Testing (NDT) Software Market 2023-2033


The Non-Destructive Testing (NDT) Software study provides a comprehensive overview of safety standards, market penetration, and innovation pipelines across major economies.

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Opportunity and Strategy Analysis

This report focuses on identifying opportunities and strategies for investing in the global nondestructive testing (NDT) software market within the forecast period. It provides a complete analysis of the global market both quantitatively and qualitatively. The quantitative analysis includes market size and revenue data of the total demand, sub-markets, and regional/national levels throughout 2023-2033. Qualitative analysis depicts a full picture of market dynamics and trends including drivers, restraints and challenges, emerging products/market trends, and Porter’s Fiver Forces analysis.

Based on the market data and analysis, the report highlights Increasingly Attractive Segments (IAS) and business opportunities in each segmentation. Moreover, a systematic evaluation of Internal Risks (factors arising within the industry development) and External Risks (factors arising from the surrounding environments) is provided for the nondestructive testing (NDT) software industry and market. This in-depth risk assessment offers a comprehensive understanding of the current risk factors and their developing trends. Furthermore, this report concludes risk management strategies and Critical Success Factors (CSFs) to help companies make intelligence-based business decisions in the global nondestructive testing (NDT) software industry.

Market Coverage & Overview

The report is based on studies for 2021-2023 and provides a forecast from 2024 till 2033 with 2023 as the base year. Considering impact of COVID-19 and regional conflicts such as Russia-Ukraine war, the trend and outlook of global market is forecast in optimistic, balanced, and conservative scenarios. In the balanced view, the global nondestructive testing (NDT) software market is expected to reach $3.85 billion by 2033, growing by 8.1% annually over the coming years.

Segmentation Analysis

Highlighted with 91 tables and 112 figures, this 205-page report represents a 360-degree view on the global market with extensively detailed segmentations by Category, Technology, Application, Industry Vertical, and Region/Country as shown below. Annual revenue 2023-2033 for each segment is included in the report.

By Category

• Standard Software

• Customized Software

By Technology

• Ultrasonic Testing

• Radiography Testing

• Visual Testing

• Magnetic Particle Testing

• Liquid Penetrant Testing

• Eddy Current Testing

• Acoustic Emission Testing

• Other Technologies

By Application

• Flaw Detection

• Dimensional Measurement

• Chemical Composition Determination

• Stress and Structure Analysis

• Physical Properties Estimation

• Leak Detection

• Other Applications

By Industry Vertical

• Oil and Gas

• Manufacturing

• Power and Energy

• Aerospace and Defense

• Automotive and Transportation

• Construction & Infrastructure

• Electronics & Semiconductors

• Other Industry Verticals

By Region

• North America (U.S., Canada, and Mexico)

• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Netherlands, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)

• • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)

• South America (Brazil, Chile, Argentina, Rest of South America)

• MEA (UAE, Saudi Arabia, South Africa, and Rest of MEA)

The breakdown of all regional markets by country and the breakdown of each national market by Category, Technology, and Industry Vertical over the forecast years are also included.

Key Companies

The report also covers the current competitive scenario and profiles key vendors including market leaders and important emerging players. A selection of companies profiled in this report includes:

• Baker Hughes (Waygate Technologies)

• Eclipse Scientific

• Eddyfi Technologies

• Fujifilm Corporation (Fujifilm Holdings Corporation)

• Innospection Limited

• Intertek Group PLC

• Mistras Group Inc.

• Olympus Corporation

• Sonatest Ltd.

• Spinnsol

• TWI

• Yxlon International GMBH (Comet Holding AG)

• Zetec Inc.

1 Introduction 12

1.1 Industry Definition and Research Scope 12

1.1.1 Industry Definition 12

1.1.2 Research Scope 13

1.2 Research Methodology 16

1.2.1 Overview of Market Research Methodology 16

1.2.2 Market Assumption 17

1.2.3 Secondary Data 17

1.2.4 Primary Data 17

1.2.5 Data Filtration and Model Design 18

1.2.6 Market Size/Share Estimation 19

1.2.7 Research Limitations 20

1.3 Executive Summary 21

2 Market Overview and Dynamics 24

2.1 Market Size and Forecast 24

2.1.1 Impact of COVID-19 on World Economy 25

2.1.2 Impact of COVID-19 on the Market 29

2.1.3 Impact of Russia-Ukraine Conflict 31

2.1.4 Impact of Israel-Palestine War 33

2.2 Major Growth Drivers 34

2.3 Market Restraints and Challenges 39

2.4 Emerging Opportunities and Market Trends 42

2.5 Porter’s Fiver Forces Analysis 45

3 Segmentation of Global Market by Category 49

3.1 Market Overview by Category 49

3.2 Standard Software 52

3.3 Customized Software 53

4 Segmentation of Global Market by Technology 54

4.1 Market Overview by Technology 54

4.2 Ultrasonic Testing 57

4.3 Radiography Testing 58

4.4 Visual Testing 59

4.5 Magnetic Particle Testing 60

4.6 Liquid Penetrant Testing 61

4.7 Eddy Current Testing 62

4.8 Acoustic Emission Testing 63

4.9 Other Technologies 64

5 Segmentation of Global Market by Application 65

5.1 Market Overview by Application 65

5.2 Flaw Detection 68

5.3 Dimensional Measurement 69

5.4 Chemical Composition Determination 70

5.5 Stress and Structure Analysis 71

5.6 Physical Properties Estimation 72

5.7 Leak Detection 73

5.8 Other Applications 74

6 Segmentation of Global Market by Industry Vertical 75

6.1 Market Overview by Industry Vertical 75

6.2 Oil and Gas 78

6.3 Manufacturing 79

6.4 Power and Energy 80

6.5 Aerospace and Defense 81

6.6 Automotive and Transportation 82

6.7 Construction & Infrastructure 83

6.8 Electronics & Semiconductors 84

6.9 Other Industry Verticals 85

7 Segmentation of Global Market by Region 86

7.1 Geographic Market Overview 2023-2033 86

7.2 North America Market 2023-2033 by Country 91

7.2.1 Overview of North America Market 91

7.2.2 U.S. 95

7.2.3 Canada 99

7.2.4 Mexico 102

7.3 European Market 2023-2033 by Country 105

7.3.1 Overview of European Market 105

7.3.2 Germany 109

7.3.3 U.K. 112

7.3.4 France 115

7.3.5 Spain 118

7.3.6 Italy 121

7.3.7 Russia 124

7.3.8 Rest of European Market 127

7.4 Asia-Pacific Market 2023-2033 by Country 129

7.4.1 Overview of Asia-Pacific Market 129

7.4.2 Japan 133

7.4.3 China 137

7.4.4 Australia 140

7.4.5 India 143

7.4.6 South Korea 146

7.4.7 Rest of APAC Region 149

7.5 South America Market 2023-2033 by Country 151

7.5.1 Argentina 155

7.5.2 Brazil 158

7.5.3 Chile 161

7.5.4 Rest of South America Market 164

7.6 MEA Market 2023-2033 by Country 165

7.6.1 UAE 169

7.6.2 Saudi Arabia 172

7.6.3 South Africa 175

7.6.4 Other National Markets 178

8 Competitive Landscape 179

8.1 Overview of Key Vendors 179

8.2 New Product Launch, Partnership, Investment, and M&A 182

8.3 Company Profiles 183

Baker Hughes (Waygate Technologies) 183

Eclipse Scientific 185

Eddyfi Technologies 186

Fujifilm Corporation (Fujifilm Holdings Corporation) 187

Innospection Limited 188

Intertek Group PLC 189

Mistras Group Inc. 190

Olympus Corporation 191

Sonatest Ltd. 192

Spinnsol 193

TWI 194

Yxlon International GMBH (Comet Holding AG) 195

Zetec Inc. 196

9 Investing in Non-Destructive Testing (NDT) Software Industry: Risk Assessment and Management 197

9.1 Risk Evaluation of Global Market 197

9.2 Critical Success Factors (CSFs) 204

RELATED REPORTS 207

Tables & Figures:
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Research Methodology:
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Non-Destructive Testing (NDT) Software Market Size Estimation

To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.

Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.

Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.

We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.

Data Source

Secondary Sources

This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.

These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.

Market Size
  • Segmental value
  • Geographic Penetration
  • Product Adoption Rate for Different market
  • Journals, Websites, and Press Releases
  • Annual Reports and SEC Filings
  • Company Websites and Press Releases
  • Public and Paid Databases
  • Market Intellix Data Repository
Market Position of Top Company
  • Product Financials
  • Geographic value Mix
  • Total Company value
  • Business/Segmental value Mix
Qualitative Analysis
  • Influence Factors
  • Market Potential
  • Market Risks and Opportunities
  • Industry Trends
  • Geographical Features
  • Government Policies
  • Company Websites and Press Releases
  • Public and Paid Databases
  • Annual Reports
  • Industry Associations
  • Market Intellix Data Repository

Primary Sources

As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.

On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.

These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.

Key Data Information from Primary Sources

Primary Sources Parameters Key Data
Market Segments(by Application, by Type)
  • Value by Type
  • Status and Forecast
  • Value by Application
  • Value by Regions, Status and Forecast (2025-2031)
  • Value Market Share by Type
  • Value Growth Rate by Type
  • Value by Application
  • Percentage and Growth Rate by Application
  • Value Growth Rate and Market Share by Regions
  • Market Size Status and Forecast (2025-2031)
Total Market
  • Overall Size, Status and Forecast
  • Market Size Status and Forecast (2025-2031)
Frequently asked questions(FAQ's):
Is the Non-Destructive Testing (NDT) Software Market shifting its focus from growth to value?
Recognize the areas along the Non-Destructive Testing (NDT) Software Market's value chain where players are generating value. To get a complete picture, kindly read the entire report.
What years are taken into account in the Non-Destructive Testing (NDT) Software Market study?
The Non-Destructive Testing (NDT) Software Market study evaluates the year spans as follows: Historical year: 2019 to 2024; Base year: 2024; Forecast period**: 2025 to 2030 [** unless otherwise stated]
What trends may have an impact on the Non-Destructive Testing (NDT) Software Market's growth?
A handful of disruptive trends, nevertheless, will have a contradictory and significant impact on the development of the Non-Destructive Testing (NDT) Software Market as well as its distribution among its players
What is the CAGR at which the Non-Destructive Testing (NDT) Software Market can expand?
During the forecast years, the Non-Destructive Testing (NDT) Software Market can thrive with a robust CAGR.