Machine Vision Laser Market worth US$ 7,144.4 million by 2027- Exclusive Research by The Insight Partners

According to The Insight Partners latest market study on "Machine Vision Laser Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Type (Smart Machine Vision Lasers, 3D Machine Vision Lasers, and PC-Based Machine Vision Lasers), Application (Process Control, Automatic Inspection, Industrial Inspection, and Others), and End User (Automotive, Electronics and Semiconductor, Food and Beverages, Pharmaceuticals, Logistics, and Others)," the market was valued at US$ 3,711.3 million in 2019 and is projected to reach US$ 7,144.4 million by 2027; it is expected to grow at a CAGR of 8.5% from 2020 to 2027.

Read Report:
https://www.theinsightpartners.com/reports/machine-vision-laser-market/

In 2019, APAC led the global machine vision laser market with 11.3% revenue share, followed by Europe and North America. The market in APAC is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. APAC is well known for technological innovations happening in these countries. Stable economies and technological advancements support the growth of various markets in the region. China, Japan, India, and South Korea have a few of the largest manufacturing facilities, wherein automation of manufacturing processes has been the highest priority. Also, strong competition among manufacturers boosts the adoption of machine vision lasers in the region. Industrialization in countries such as China and India are growing at a significant pace. China is the world's largest manufacturing powerhouse, and it produces ~50% of its major industrial goods. APAC consists of the world's most esteemed vehicle manufacturers, and the automotive industry generates a huge number of automobile sales with high production levels.

Get Exclusive Sample Pages of Machine Vision Laser Market at

https://www.theinsightpartners.com/sample/TIPRE00015327/?utm_source=OpenPR&utm_medium=10591

Europe dominated the machine vision laser market in 2019, followed by North America and Asia Pacific. The growth of the market in Europe is primarily attributed to the increasing automation in industries and rising adoption of a whole range of machine vision products, from simple and easy-to-use products to sophisticated and complex ones. Several activities, such as the formation of smart factory or production of future car, can be achieved by using machine vision as crucial technology. Incentives by the governments of European countries, and new environmental regulations and safety standards for the manufacturing sector are transforming the industrial sector, thereby driving the steady adoption of smart factory solutions-such as machine vision. Additionally, the machine vision laser market in APAC is expected to grow at the highest CAGR during 2020-2027.

In 2019, Europe stood second in the machine vision laser market with a decent market share, and it is anticipated to witness a steady CAGR from 2020 to 2027. The capital invested in technology in the region is expected to grow at a CAGR of 8.3% from 2019 to 2027, to reach US$ 1410.9 billion of capital investment in 2019. The auto industry in Europe generates US$ 87 billion for the EU economy. In the automotive sector, machine vision lasers provide improved accuracy in picking and positioning parts of automobiles. Manufacturers are focusing on automating their production processes due to the shortage of skilled labor and lowering the manufacturing prices of automobiles.

Download the Latest COVID-19 Analysis on machine vision laser Market Growth Research Report at

https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00015327/?utm_source=OpenPR&utm_medium=10591

Impact of COVID-19 Pandemic on Machine Vision Laser Market

The COVID-19 epidemic is disrupting supply chain and logistics across the world. Countries across the globe are continuing to combat the outbreak and control community spread. Companies are focusing on automating their business operations with a major goal to reduce their production costs. Due to the lockdown and social distancing norms across countries, companies are facing economic issues. These are delaying the new projects that need the implementation of machine vision laser systems in their factories. Several manufacturing companies are halting their production, which is hindering the machine vision laser market. Manufacturing companies across the countries are planning to invest more in automation post-COVID-19 pandemic. Moroever, to ensure less human intervention, the need for automated quality assurance has increased among industries amid the COVID-19 outbreak.

More Trending Report:

https://www.globenewswire.com/news-release/2021/09/24/2302976/0/en/Digital-Camera-Market-Valuation-to-Outstrip-12-11Bn-by-2028-Growth-Projection-at-5-6-CAGR-During-2021-to-2028-COVID-Impact-and-Global-Analysis-by-TheInsightPartners-com.html

Laser-based machine vision is a valuable tool for manufacturers aiming to improve prototyping, assembly, inspection processes, among others. The technology enables better 3D visualization throughout the manufacturing process, and it is continuously evolving. Although the machine vision technology is typically employed in manufacturing industries, its reach now extends farther to pharmaceutical, agriculture, traffic monitoring, security, and laser measurement applications. The laser-based measurement method has become much safer, faster, and more informative. Thus, the laser beam is placed directly on the camera's delicate sensor. Industrial lasers often operate at a near-infrared (NIR) wavelength (~1060-1080 nm) that is invisible to naked eyes. Therefore, camera sensors used for measurements need to be sensitive in those wavelengths. Hence, the growing demand for laser-based machine vision technology is boosting the machine vision laser market.

Company Profiles

• Cavitar Ltd.
• Cognex Corporation
• Laser Components GmbH
• Keyence Coproration
• ProPhotonix
• RAYLASE GMBH
• RPMC Lasers
• STEMMER IMAGING AG
• Z-LASER GmbH

Purchase Copy of this Premium Market Research Study at

https://www.theinsightpartners.com/buy/TIPRE00015327/?utm_source=OpenPR&utm_medium=10591

About Us:

The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876

This release was published on openPR.