Press release
Machine Vision Market to hit USD 14.18 billion by 2028; Cognex Corporation, Basler AG, Omron Corporation, Keyence, National Instruments, Sony Corporation, Teledyne Technologies, Texas Instruments, Intel Corporation, ISRA Vision, Sick AG, FLIR Systems, Opt
This information is provided by Fortune Business Insights™, in its report, titled, “Machine Vision Market, 2021-2028.”
As per the research experts, the growth of the market is attributed to the factor that Machine vision (MV) incorporates the capability to examine, perceive, and inspect work performance by mounting one or more than one video camera, equivalent to digital conversion, as well as digital signal consumer electronics.
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COVID-19 Pandemic: Slowdown of Manufacturing Activity to Hamper Market Growth
The unanticipated spread of the COVID-19 pandemic led to imposing of shutdown in several accomplishments, involving disturbance in manufacturing and sales action. The global outbreak of coronavirus has substantially influenced manufacturing industries and numerous other markets. The global apprehensions and guidelines imposition has forced businesses to think hostilely in order to thrust sales and revenue.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/machine-vision-market-105188
Report Coverage
The report provides an in-depth analysis of the market and a comprehensive evaluation of the major segments of the market. It delivers insights into major players in the market and strategies adopted by them to generate revenue. The report offers comprehensive insights into the regional dynamics and how they propel the market into an upward growth trajectory. Moreover, COVID-19 impact has been added for additional information and how it is expected to affect the demand for machine vision in the near future.
Segmentation
On the basis of type, the market is branched into 1-D vision system, 2-D vision system, and 3-D vision system.
In terms of system analysis, this market is categorized into PC based, smart camera, and others (Compact, etc.).
PC based MV systems were the most prominent product segment in the market in 2017. The segment is anticipated to maintain its position in the global market throughout the forecast period.
The industry is divided as semiconductor, healthcare, automotive, manufacturing, and others (retail, banking, etc.).
In terms of region, the global market is segmented as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers and Restraints
Rising Demand in Vision Empowered Robotics Systems to Enhance Market Growth
Machine Vision market growth is driven by ongoing advances in terms of automation & robotics systems. Robotics and smart manufacturing is transforming machine vision technology into an essential tool for industrial automation.
Similarly, there has been prime growth in the usage of industrial robots in the automotive and consumer electronic sectors. This has resulted in the upsurge in the necessity for integrated MV systems with vision-guided robot regulators.
Regional Insights
North America to Dominate Led by Established Semiconductor Sector
North America held the maximum machine vision market share and is measured to be among the surging revenue generator in the worldwide market. This is due to the leading existence of the semiconductor industry in the region, which is a fundamental segment for MV systems.
Asia Pacific is predicted to demonstrate high growth in the upcoming years. Nations such as China, Japan, India, South Korea, and other countries conduct a primary role in the market prospect during the forecast period.
Europe is also anticipated to display a considerable growth rate during the forecast period. MV systems are depending on the noteworthy movement of development in technology and automation.
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Competitive Landscape
Key players are concentrating on partnerships and mergers to preserve their grip in the market. Additionally, they are also focusing on dropping waste generated during the production procedure. This comprises reprocessing waste products and minimal utilization of raw materials.
Industry Development
May 2021: National Instruments procured MonoDrive, who is an ultra-high fidelity simulation software for advanced driver-assistance systems (ADAS) frontrunner and independent vehicle researcher.
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Table Of Content
Introduction
Definition, By Segment
Research Approach
Sources
Executive Summary
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
PESTEL Analysis
Porter’s Five Forces Analysis
Global Machine Vision Market Share Analysis and Matrix, 2020
Key Market Insights and Strategic Recommendations
Profiles of Key Players (Would be provided for 10 players only)
Overview
Key Management
Headquarters etc.
Offerings/Business Segments
Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
Employee Size
Key Financials
Past and Current Revenue
Geographical Share
Business Segment Share
Recent Developments
Annexure / Appendix
Global Machine Vision Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
By Type (USD Bn)
1-D Vision System
2-D Vision System
3-D Vision System
By System (USD Bn)
PC based
Smart Camera
Others (Compact, etc.)
By Industry (USD Bn)
Semiconductor
Healthcare
Automotive
Manufacturing
Others (Retail, Banking, etc.)
By Region (USD Bn)
North America
Europe
Asia Pacific
Middle East & Africa
South America
North America Machine Vision Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
By Type (USD Bn)
1-D Vision System
2-D Vision System
3-D Vision System
By System (USD Bn)
PC based
Smart Camera
Others (Compact, etc.)
By Industry (USD Bn)
Semiconductor
Healthcare
Automotive
Manufacturing
Others (Retail, Banking, etc.)
TOC Continued…!
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