Machine Vision Systems Market 2022 Competitive Insights - Cognex Corporation, Keyence Corporation, Omron Corporation

The Machine Vision Systems Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The Machine Vision Systems was valued at USD 11.14 billion in 2020 and is expected to reach USD 23.50 billion by 2027, at a CAGR of 13.32% over the forecast period 2022 - 2027.

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Top Leading Companies of Machine Vision Systems Market are Cognex Corporation, Keyence Corporation, Omron Corporation, Isra Vision AG, IDS Imaging Development Systems GmbH, National Instruments Corporation, MVTec Software GmbH, Sony Corporation, Teledyne DALSA (Teledyne Technologies company), Toshiba Corporation and others.

Industry News and Updates

November 2018 - Inspekto launched an autonomous machine vision system, S70. The S70 system can be installed quickly (30 to 60 minutes) than a traditional machine vision solution and at a reduced cost. Its high affordability and ease of deployment enable manufacturing plants to install it at any point on a production line and move it from one line to another, within minutes.

- August 2018 - Atlas Copco acquired German QUISS Qualitäts-Inspektionssysteme und Service AG, a provider of machine vision solutions for quality inspection and robot guidance mainly used in the automotive sector. This acquisition provides the company with increased competence in vision systems for robot guidance and quality inspections and to provide more customer value in the world of automation.

Key Market Trends

Asia-Pacific is Expected to Experience Rapid Growth

- Asia-Pacific is one of the significant revenue-generating regions in the machine vision market. Asia-Pacific countries such as China and South Korea, among others, have some of the most extensive manufacturing facilities wherein automation has been increasingly implemented.

- The region is embracing robot adoption at a rapid rate, which is expected to impact the machine vision market in the region. Automation in the region is also expected to be augmented by favorable government initiatives. For instance, the Chinese government's programs, such as the Made in China 2025 plan, are promoting the use of R&D in factory automation and technologies and its investments.

- Moreover, the labor cost in China is increasing year on year. Therefore, companies in the country are focusing on using automation systems to reduce production costs. These factors are also driving the growth of the machine vision market in the region. According to the China Machine Vision Union, sales in the Chinese machine vision market reached CNY 8.39 billion in 2018, growing 21.6%, as compared to 2017.

Regional Outlook of Machine Vision Systems Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Machine Vision Systems Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter's five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

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