The Global Machine Vision Market Estimated to Gain $17.72 Billion in Revenue by 2028

According to Triton’s report, the global machine vision market, which garnered $9.75 billion in 2020, is expected to experience growth at 7.63% of CAGR by 2028.

A recent study by Triton Market Research titled Global Machine Vision Market entails the Global Analysis and Forecasts by Verticals (Automotive, Electronics & Semiconductor, Food & Packaging, Healthcare, Other Verticals), Component (Software, Hardware [ASMV, Illuminations, Processors, Sensors, Cameras, Other Hardware Components]), Type (3D Measurement, 2D Measurement, 1D Measurement), Application (Guidance, Gauging, Inspection, Identification, Other Applications), and by Geography (Asia-Pacific, North America, Europe, Middle East and Africa, Latin America).

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Triton’s report estimates the global machine vision market to progress based on revenue at a CAGR of 7.63% during the reviewed phase 2021-2028. It is predicted to obtain revenue worth $17.72 billion by 2028.

Machine vision technology is employed across various industries, such as healthcare and automotive. This technology helps automate the production process, enhancing the overall product quality.

Over the years, automation has gained momentum across factories. This has ultimately supported the development of smart factories, as it helps decrease manufacturing costs. Moreover, rapidly evolving technology has created several opportunities for machine vision technology.
Hence, the growing construction of smart factories motivates the development of the machine vision market.

However, growing complications relating to the implementation of machine vision systems and lack of standardization impedes the machine vision market’s growth.

The machine vision market is segmented into verticals, component, type, and application. Based on verticals, it is divided into automotive, electronics & semiconductor, food & packaging, healthcare, and other verticals. In terms of components, it is sectioned into software and hardware, with hardware segment sectioned into ASMV, illuminations, processors, sensors, cameras, and other hardware components. The type section is categorized into 3D measurement, 2D measurement, and 1D measurement. Lastly, the application section is divided into guidance, gauging, inspection, identification, and other applications.

Globally, the Asia-Pacific dominates the machine vision market and is expected to continue its stronghold till 2028. The region’s robust growth is owing to the surge in the manufacturing sector.
Machine vision is considered important for economic modernization, as it helps in improving productivity and quality across industries. As per estimates, the demand for machine vision systems is anticipated to surge across Japan, India, and South Korea. Therefore, as mentioned above, these factors are anticipated to support the development of the machine vision market.

Omron Microscan Systems Inc, National Instruments Corporation, Baumer Optronic GmbH, Allied Vision Technologies GmbH, Datalogic SPA, USS Vision Inc, Keyence Corporation, Cognex Corporation, Jai AS, Perceptron Inc, Basler AG, Omron Corporation, Flir Systems Inc, Teledyne Technologies Inc, and Optotune AG are distinguished companies in the machine vision market.

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Question & Answer: Machine Vision Market

Question 1: What major set of factors are driving the growth of the aseptic packaging market?
Answer: Over the years, automation has gained momentum across factories. This has ultimately supported the development of smart factories, as it helps decrease manufacturing costs. Moreover, rapidly evolving technology has created several opportunities for machine vision technology. Hence, the growing construction of smart factories motivates the development of the machine vision market.

Question 2: What factor is negatively impacting the aseptic packaging market’s future growth?
Answer: The growing complications relating to the implementation of machine vision systems and lack of standardization impedes the machine vision market’s growth

Question 3: Which region is expected to observe the fastest growth rate in the aseptic packaging market?
Answer: Globally, the Asia-Pacific dominates the machine vision market and is expected to continue its stronghold till 2028. The region’s robust growth is owing to the surge in the manufacturing sector. Machine vision is considered important for economic modernization, as it helps in improving productivity and quality across industries. As per estimates, the demand for machine vision systems is anticipated to surge across Japan, India, and South Korea. Therefore, as mentioned above, these factors are anticipated to support the development of the machine vision market.

Question 4: Which are the distinguished companies in the machine vision market?
Answer: Omron Microscan Systems Inc, National Instruments Corporation, Baumer Optronic GmbH, Allied Vision Technologies GmbH, Datalogic SPA, USS Vision Inc, Keyence Corporation, Cognex Corporation, Jai AS, Perceptron Inc, Basler AG, Omron Corporation, Flir Systems Inc, Teledyne Technologies Inc, and Optotune AG are distinguished companies in the machine vision market.



Related Report:

Global Industrial Robots Market

The global industrial robots market is estimated to display growth in its revenue during 2021-2028 at a CAGR of 10.35%. Moreover, it is expected to reap revenue worth $87.79 billion by 2028.

Industrial robots are automated, having the capability to function on three or more dimensions. These robots have gained traction across various industries for production services.

The market’s growth is supported by multiple factors, including growing R&D investments in robots and the rising adoption of industrial robots for numerous applications.

Besides this, the surge in smart factories and advancements in robotic technologies are supplementing the growth of the industrial robots market.

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