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Machine Vision Market Share, Size, Trends Analysis & Industry Report, 2020-2027

04-01-2021 01:04 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: GMI Research

Growth opportunities in the machine vision market look promising over the next six years. This is mainly due to the rise in manufacturing of hybrid & electric cars, surging demand for product inspection & quality assurance, growing penetration of Machine Vision systems, increasing need for vision-guided robotic systems, and strong demand for minimum human intervention across several End-users.

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Machine Vision Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The major factors strengthening the global machine vision market include the rising demand for product inspection and quality assurance, the surging requirement for vision-guided robotic systems, and the expansion in manufacturing of electric cars and hybrid. Additionally, the increasing penetration of machine vision systems and the rise in demand for minimum interference among several end-user industries for maintaining quality will augment the Machine vision market size.

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The technological improvement and integration in imaging technologies such as deep learning, hyperspectral imaging, machine learning, vision progressing unit, advanced 360-degree camera, and hybrid sensor followed by the increasing demand for artificial intelligence will create different growth opportunities in the global vision market. Moreover, the increase in the government initiatives to support industrialization, accelerating adoption of Industry 4.0, and the rising trend of miniaturization in product design will further propel the market demand. However, the shortage of flexible machine vision solutions and the notable changes in the end-user requirements are the two major factors expected to hamper the market's growth.

Product Segment Drivers

Based on the product, the smart camera-based vision system is predicted to expand at a faster CAGR over the forecast period. The expanding adoption of a camera-based machine vision system owing to its design with open embedded processing technology that reduces the need of other peripheral devices like an external computer and frame capture card is accelerating the growth of this segment. Furthermore, the smart camera-based vision system has a lower cost of maintenance and is cost-effective compared to pc-based vision systems. Owing to the uncomplicated design, it is easy to use and simple to integrate with existing automation systems. Smart camera vision systems have few components and more compact dimensions. All these features together encourage the end-users to choose smart camera-based vision systems, promoting the demand of the market.

Regional Drivers

On the basis of region, Asia-pacific is expected to dominate the market over the forecast period. Asia-pacific is regarded as a manufacturing hub with many growth opportunities for the machine vision market. For example, China is considered an ideal destination for manufacturing units, such as electronics, automotive, and other products. All these factors coupled with the strong demand for automation amid various industries will further boost the market in Asian countries. Also, lower labor and other costs will further strengthen the machine vision market in this region.

Machine Vision Market’s leading Manufacturers:
• Jai A/S
• Intel Corporation
• Teledyne Technologies Inc.
• Allied Vision Technologies GmbH
• Keyence Corporation
• Cognex Corporation
• Omron Corporation
• Sony Corporation
• Texas Instruments Inc.
• National Instruments Corporation
• Baumer Optronic GmbH

Machine Vision Market Segmentation:

Segmentation by Deployment:
• General machine vision system
• Robotic cell

Segmentation by Component:

• Hardware
o Camera
o Interface Standards

• Camera Link
• Gige
• USB 3.0
• Coaxpress
• Others

o Imaging Spectrum
• Visible
• Visible +IR/IR
o By Frame Rate
• 125 FPS
o By Format

• Line Scan

• Area Scan
o By Sensor Type

• CMOS

• CCD
o Frame GrABBer
o Optics
o LED Lighting
o Processor
o FPGA
o DSP
o Microcontroller and Microprocessor

• Software
o Application Specific
o Deep Learning Software

Segmentation by Product:
• PC-Based Machine Vision Systems
• Smart Camera-Based Vision Systems

Segmentation by Application:
• Quality Assurance & Inspection
• Positioning and Guidance
• Measurement
• Identification
• Predictive Maintenance

Segmentation by End-user Industry:
• Automotive
• Electronics & Semiconductor
• Consumer Electronics
• Glass
• Metals
• Wood & Paper
• Pharmaceutical
• Food & Packaging
• Rubber and Plastic
• Printing
• Machinery/Equipment
• Solar Panel Manufacturing
• Textile

Segmentation by Region:

• North America
o United States of America
o Canada

• Asia Pacific
o China
o Japan
o India
o Rest of APAC

• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

Media Contact

Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

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