Machine Vision System Market: Global and Regional Analysis with Forecast till 2028, Business Opportunities, Post COVID Scenario

The global Machine Vision System market size is expected to reach $15.36 Billion by 2028 growing at the CAGR of 6.2% from 2021 to 2028.

The increasing demand for quality inspection and improvement, and automation in different industrial verticals is likely to drive the market for machine vision. While the automotive, food and beverage, packaging, and pharmaceutical industries need more vision-guided robotic systems—the demand is expected to grow across all application segments—including semiconductor & electronics, aerospace & defense, biotechnology & life sciences, and others. The surge in demand for application-oriented machine vision (MV) systems is further expected to boost adoption of the technology over the forecast period.

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Key Players

Some of the major Machine Vision System players holding high market share include Baumer Ltd., Cgnex Corporation, and Canon Inc. These players use acquisition and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Baumer Ltd.
● Cgnex Corporation
● Canon Inc.
● FLIR System
● Intel Corporation
● Keyence Corporation
● National Instrument Corporation
● Omron Corporation
● Texas Instrument
● SICK

The recently published research report on Global Machine Vision System Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Machine Vision System market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Machine Vision System market report also includes the following data points:
● COVID19 Impact on Machine Vision System market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Machine Vision System market

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Segmental Analysis

Market Segment By Type with focus on market share, consumption trend, and growth rate of Machine Vision System Market:
o 1D Vision
o 2D Vision
o 3D Vision

Market Segment By Product with focus on market share, consumption trend, and growth rate of Machine Vision System Market:
o PC-Based Machine Vision System
o Vision Controllers
o Standalone Vision System
o Vision Sensors & Image-Based bar code readers

Market Segment By Application with a focus on market share, consumption trend, and growth rate of Machine Vision System Market:
o Identification
o Inspection
o Gauging
o Positioning
o Others

Market Segment By End Use with a focus on market share, consumption trend, and growth rate of Machine Vision System Market:
o Automotive
o Healthcare
o Manufacturing
o Industrial
o Others

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Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

The APAC region is expected to grow at the highest CAGR in the machine vision market. Countries such as China, Japan, and South Korea are expected to drive the growth of this market. Growing manufacturing operations are increasing economic development in China, while increasingly incorporating Industry 4.0 and advanced manufacturing techniques for increasing automation across various applications is fuelling the demand for computer vision technology in India.

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