|05-16-2019 05:24 AM CET - Media & Telecommunications||
Machine Vision Systems Market to account for US$ 15.01 Bn in 2025 - Basler AG, Cognex, Keyence, OmniVision, DataLogic, Microscan Systems, Teledyne DALSA
Press release from: The Insight Partners
The machine vision systems market has experienced high growth and implementations in the last few years and is also expected to experience significant growth in years to come. One of the major reason for higher implementations of machine vision systems by various industry verticals is the advancements in several related technologies taking place around the machine vision systems and are driving the Machine Vision Systems market. The advances in technology have thus facilitated mass production and custom manufacturing of suppliers. Machine vision systems also provide end users with improved productivity and quality in the manufacturing process which also helps in achieving higher productivity along with increased profit margins. Developing digital ecosystem and high growth of data, and developing economies are providing ample opportunities for the players operating in the global machine vision systems market.
The global Machine Vision Systems market accounted for US$ 8.12 Bn in 2016 and is expected to grow at a CAGR of 7.2% during the forecast period 2017 – 2025, to account for US$ 15.01 Bn in 2025.
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Some of the leading machine vision systems market players are Basler AG, Cognex Corporation, Keyence Corporation, Omron Corporation and National Instruments. OmniVision, DataLogic, and Microscan Systems among others.
The global machine vision systems market for the end-user industries is fragmented into Automotive, Consumer Electronics, Food & Beverage, Pharmaceuticals, Logistics and Others. The segmentation is based upon need for machine vision systems to improve mobility and security. Consumer electronics in the machine vision systems market acquires the majority share, followed by automotive and food & beverages. Short product lifecycles of the consumer electronics products, high quality standards requirements by consumers and high labor investments have resulted in the increasing adoptions of machine visions systems by consumer electronics manufacturers worldwide.
Machine Vision Systems are the next generation intelligent systems mainly used in industrial applications for detection, identification, measurement, inspection and so on. Recently ISRA Vision AG, one of the leading competitors in the market launched a new solution that performs the optical inspection of plastic films that is used in various end-user purposes. Detecting defects, optimizing processes, increasing yield-optical inspections are some of the functions of the solution. Such developments in the market are anticipated to further fuel the growth of machine vision systems in the years to come.
The expansion in the manufacturing industry is further highly driven by economic growth worldwide. Also, the industry is presently found to be in the middle of a technological renaissance, which is changing the outlook, systems, and processes of the modern factory. This technological revolution in the factories has been encouraging the manufacturing industries to further invest in these emerging technologies in order to enhance their productivity and production cycle. Thus, the rapid expansion in the manufacturing industry is expected to drive the demand for advanced and smart machine vision system market globally. According to the United Nations Industrial Development Organization (UNIDO), global manufacturing value added (MVA) reached an all-time high of $9,228 billion in 2014. By 2014, the MVA of developing and emerging industrial economies (DEIEs) increased 2.4 times from 2000, while their GDP doubled. Also, world export growth rates averaged 7.7% over 2005–2013, and in 2013 world trade reached a peak of more than $18 trillion, with 84.0% comprising manufacturing products.
With an increasing number of industrial verticals embracing production automation, the demand for machine vision technology is likely to be on the rise and are significantly contributing to global machine vision systems market. In order to achieve high precision advanced technology, such as machine vision is adopted by the Industrial companies. The machine vision system helps in the detection of defects which are difficult to visualize and inspect by human eyes. The inspection of machine vision includes surface defects, assembly errors, missing features, and damaged parts. It also aligns the parts for highly accurate assembly operations and all the other manufacturing process. Industrial automation companies use machine vision systems to check critical dimensions, measure product components for the classification process and sorting process. Machine vision system has become an integral part of Industrial automation manufacturing to achieve higher precision and quality assurance.
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What the report features:-
• Global analysis of Machine Vision Systems market from 2018 – 2025 illustrating the progression of the market.
• Forecast and analysis of Machine Vision Systems market by Dosage, Route of Administration and Application from 2018 – 2025
• Forecast and analysis of Machine Vision Systems market in five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Semiconductors, Healthcare, Manufacturing, Automotive and Defense.
This release was published on openPR.
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