Europe Industrial Machine Vision Market Analysis 2017 - 2024 With Dominating Vendors Like Cognex, Basler AG and Sony
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Europe Industrial Machine Vision Market is expected to reach USD 6,196.39 million by 2024, from USD 3,330.29 million in 2016 growing at a CAGR of 8.1% in the forecast period 2017 to 2024. Europe Industrial Machine Vision Market Analysis By Component Type (Camera, Frame Grabber, Optics, LED Lighting, Processor, Software Tools), By Product (PC-based Machine Vision Systems, Smart Camera-based Vision Systems), By Vertical (Automotive, Glass, Metal, Wood, Pharmaceutical and Cosmetics, Semiconductor, Electrical/Electronic, Rubber and Plastic, Medical Devices, Printing, Food and Beverage, Others) and By Country (Germany, United Kingdom, France, Spain, Italy, Russia, Turkey, Belgium, Nether lands, Switzerland, Rest of Europe)
Key Points: Europe Industrial Machine Vision Market
Europe industrial machine vision market is dominated by Cognex Corporation, followed by Basler AG and Sony.
Stand-alone industrial machine vision segment is expected to dominate the Europe industrial machine vision market.
The industrial machine vision market in Europe region is leading in Germany, France, Italy and U.K. Germany accounts for the highest market share in this region.
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Market Segmentation: Europe Industrial Machine Vision Market
The Europe industrial machine vision market is segmented on the basis of component type, product, application and vertical. On the basis of component type, the EU industrial machine vision market is segmented into cameras, frame grabbers, optics, led lighting, software tools and processor In 2017, cameras segment is expected to dominate the Europe industrial machine vision market with 71.7% market share and is expected to reach USD 4,489.8 million by 2024, growing with the highest CAGR of 8.3% in the forecast period 2017 to 2024.
On the basis of product the Europe industrial machine vision market is segmented into PC-based machine vision systems and smart camera-based vision systems In 2017, PC-based machine vision systems is expected to dominate the EU industrial machine vision market with 77.6% market share and is expected to reach USD 4,711.6 million by 2024, growing with a CAGR of 7.8% in the forecast period 2017 to 2024.
On the basis of application the Europe industrial machine vision market is segmented into inspection, measurement, positioning and guidance, symbol reading, character recognition, part recognition and others In 2017, inspection is expected to dominate the EU industrial machine vision market with 54.4% market share and is expected to reach USD 3,328.6 million by 2024, growing with a CAGR of 7.9% in the forecast period 2017 to 2024.
On the basis of vertical the Europe industrial machine vision market is segmented into automotive, electrical/electronics, food and beverage, rubber and plastic, metal, semiconductors, pharmaceuticals and cosmetics, medical devices, printing, glass, wood, others In 2017, automotive is expected to dominate the EU industrial machine vision market with 38.8% market share and is expected to reach USD 2,377.7 million by 2024, growing with a CAGR of 8.0% in the forecast period 2017 to 2024.
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The major factors driving the growth of this market are rising demand for quality inspection and increasing need for specific machine vision systems migration towards 3D-based machine vision systems rising number of applications in various industrial sectors On the other hand, absence of flexible machine vision solutions and unpredictable end-user needs hinders the market growth.
Global Industrial Machine Vision Market is expected to reach USD 35,573.2 million by 2024 from USD 18,001.5 million in 2016, at a CAGR of 8.9%. Forecasting Trends In North America, Europe, Asia-Pacific, South America, Middle East and Africa
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