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Global Machine Vision Market by Offering (Hardware, Software), by Product (PC Based, Smart-Camera Based), by Application (Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification), by End User - Global Forecast to 2025

11-23-2020 05:56 PM CET | Logistics & Transport

Press release from: VynZ Research

Global Machine Vision Market Highlights

Global Machine Vision Market Highlights

The global Machine Vision Market is estimated to be USD 9.5 billion in 2020 and is predicted to reach USD 12.9 billion by 2025, growing at a CAGR of 6.0% during the forecast period.

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Some of the major factors responsible for the growth of machine vision across the globe are growing demand for quality inspection and automation in various industrial verticals, rising demand for vision-guided robotic systems across the various industries such as chemical, food & beverage, pharmaceutical, packaging, and automotive industries.

On the basis of application, the global machine vision market is categorized into quality assurance & inspection, positioning & guidance, measurement, and identification. In 2020, the quality assurance and inspection segment is expected to be the largest among all the segments and is projected to maintain its dominance, over the study period.

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Asia-Pacific is the largest revenue contributor in the machine vision market. The Asia-Pacific region, in particular countries such as China, Taiwan, Japan, South Korea, and India, are experiencing increase in terms of adoption of machine vision products and solutions compared with other regions.

Some of the major players in the global machine vision market include Microscan Systems, Inc., Basler AG, OMRON Corporation, Keyence Corporation, Cognex Corporation, National Instruments Corporation, Intel Corporation, ISRA Vision, Sick AG, and FLIR Systems.

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VynZ Research is a market research firm offering research, analytics, and consulting services on business strategies. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. VynZ Research assists enterprises to take strategic decisions for helping their businesses to grow. The reports developed by VynZ are based on market facts that include comprehensive analysis and quantification of market drivers, industry dynamics, opportunities, challenges, threats, market shares and anticipated new trends & technologies arising across a wide range of industries.

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