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Market Snapshot

CAGR:7.77

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	7.77

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Report Overview

The Machine Vision Market size is poised to experience substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 6.75% from 2022 to 2032. The market is anticipated to expand by USD 12,530.82 million during this period. The expansion of the market hinges on multiple factors, including the increasing integration of machine vision systems in industrial automation, the rise in quality control and inspection demands, and the proliferation of robotics and AI applications. Machine vision involves the deployment of cameras and related sensors to enable machines to perceive and interpret their surroundings. These systems encompass both 2D and 3D technologies, empowering industries to achieve greater efficiency, accuracy, and automation in various applications.

Machine Vision Market Overview:

Drivers:

A key driving factor behind the growth of the machine vision market is the growing adoption of machine vision systems in industrial automation. Industries are increasingly incorporating machine vision to enhance their production processes, quality control, and inspection capabilities. Machine vision technologies facilitate real-time monitoring, defect detection, and process optimization, leading to improved operational efficiency and reduced costs.

Additionally, the demand for quality control and inspection across diverse industries such as automotive, electronics, pharmaceuticals, and food and beverage is driving the uptake of machine vision systems. These systems can meticulously inspect and identify defects, measure dimensions, and verify product features, contributing to heightened product quality and regulatory compliance.

Trends:

The integration of AI and machine learning in machine vision systems is a prevailing trend propelling market growth. AI-enabled machine vision systems can analyze vast amounts of visual data and make intelligent decisions based on learned patterns. This advancement enables applications like defect recognition, predictive maintenance, and adaptive robotics, fostering the demand for more sophisticated machine vision solutions.

Furthermore, the convergence of machine vision with robotics is fostering new opportunities for automation and precision in industries like manufacturing and logistics. Machine vision-equipped robots can perform intricate tasks with precision, enabling advancements in areas such as pick-and-place operations, assembly, and warehouse management.

Restraints:

Complexities arising from lighting variations and environmental conditions present challenges to the machine vision market's growth. Uneven lighting, shadows, reflections, and changes in environmental factors can adversely affect the accuracy and reliability of machine vision systems. Achieving consistent and reliable performance across diverse operating conditions requires robust solutions and careful calibration.

Moreover, the initial costs associated with implementing machine vision systems, including cameras, sensors, software, and integration, can act as a deterrent for some businesses, particularly smaller enterprises.

Machine Vision Market Segmentation by Technologies:

2D Machine Vision Systems: The 2D machine vision systems segment is anticipated to witness substantial growth throughout the forecast period. These systems use cameras to capture two-dimensional images of objects or scenes and analyze them for various applications. In industries such as electronics and automotive, 2D machine vision systems are employed for tasks such as quality inspection, label verification, and barcode reading.

3D Machine Vision Systems:

The 3D machine vision systems segment is projected to experience robust expansion owing to its ability to provide depth information along with visual data. These systems use techniques like laser triangulation, stereo vision, and structured light to create three-dimensional representations of objects. Industries utilize 3D machine vision for tasks like bin picking, robotic guidance, and volume measurement, where accurate spatial information is crucial.

Geographical Overview:

The Asia-Pacific (APAC) region is expected to play a pivotal role in driving the global machine vision market, contributing around 48% of the overall growth during the forecast period. This growth can be attributed to the region's robust manufacturing sector, especially in countries like China, Japan, and South Korea. These nations are at the forefront of adopting automation and robotics in their industries, which bolsters the demand for machine vision solutions.

Additionally, in 2020, the outbreak of the COVID-19 pandemic led to temporary disruptions in manufacturing activities across APAC, affecting the machine vision market. However, as vaccinations progressed and economic activities resumed, the demand for automation and quality control solutions rebounded, driving the resurgence of the market.

Machine Vision Market Customer Landscape:

The machine vision market report encompasses a comprehensive analysis of the customer landscape, tracking the adoption stages from innovators to laggards. It highlights adoption rates in different regions based on penetration. The report also delves into essential purchase criteria and drivers of price sensitivity, aiding companies in shaping their growth strategies.

Major Machine Vision Market Companies:

Industry players are implementing various strategies, including collaborations, partnerships, mergers and acquisitions, geographical expansions, and product/service launches, to fortify their market presence.

Cognex Corporation: Offers diverse machine vision solutions, including 2D and 3D vision systems, for industries such as manufacturing, logistics, and electronics.

Keyence Corporation: Specializes in high-precision 2D and 3D machine vision systems for applications like inspection, measurement, and quality control.

Basler AG: Provides a range of industrial cameras and vision components, catering to applications such as factory automation, robotics, and medical imaging.

The research report comprehensively evaluates the competitive landscape, featuring insights into 20 prominent companies in the machine vision market, including:

Omron Corporation
Teledyne Technologies Inc.
National Instruments Corporation
Baumer Holding AG
Allied Vision Technologies GmbH
ISRA VISION AG
Sick AG
JAI A/S
Matrox Electronic Systems Ltd.

Qualitative and quantitative analyses of these companies offer a comprehensive understanding of the market environment, along with the strengths and weaknesses of key players.

Segment Overview:

The machine vision market report forecasts revenue growth globally, regionally, and by country, providing insights into trends and opportunities from 2019 to 2032.

Technologies:

2D Machine Vision Systems
3D Machine Vision Systems

Geography:

North America

The U.S.
Canada

Europe

U.K.
Germany
France
Rest of Europe

APAC

China
Japan

South America

Brazil

Middle East & Africa

Saudi Arabia
South Africa

TABLE OF CONTENTS: GLOBAL Machine Vision MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Machine Vision MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Machine Vision Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. Machine Vision MARKET BY deployment SIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2 General

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3 Robotic cell

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Machine Vision MARKET BY Component INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Hardware

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Software

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Machine Vision MARKET REGIONAL OUTLOOK

7.1. Machine Vision Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Machine Vision Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Machine Vision Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Machine Vision Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Machine Vision Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Machine Vision Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1 Cognex Corporation (US)

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2 Basler AG (Germany)

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3 Omron Corporation (Japan)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4 Keyence (Japan)

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5 National Instruments(US)

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6 Sony Corporation (Japan)

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7 Teledyne Technologies (US)

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8 Texas Instruments (US)

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9 Intel Corporation (US)

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10 ISRA Vision (Germany)

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Machine Vision Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032