With 7.4% CAGR, Machine Vision Market Growth to Surpass USD 17.2 billion

The machine vision market is projected to grow from USD 12.0 billion in 2022 to USD 17.2 billion in 2027; it is expected to grow at a CAGR of 7.4% from 2022 to 2027. Increase in demand for artificial intelligence in machine vision, where AI-based solutions are adopted in manufacturing facilities to improve productivity by maximizing asset utilization, minimizing downtime, and improving machine efficiency is expected to create growth opportunities for the market. Growing need for quality inspection and automation in the manufacturing industries driving the demand of machine vision system.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=234246734

Machine vision systems are used in a wide range of industry applications, including quality assurance & inspection, predictive maintenance, positioning & guidance, measurement, identification, etc. Machine vision systems are prominently used in industries such as food & packaging, consumer electronics, electronics & semiconductors, solar panel manufacturing and automotive, etc.

The market is segmented in two types of machine vision products PC based and smart camera based machine vision systems. Further the products are segmented into components hardware and software. During the forecasted period the hardware products which includes camera, optics, frame grabber, processors, lighting and other equipments are expected to contribute more in the market. Cognex Corporation (US), Basler AG (Germany), OMRON Corporation (Japan), Keyence Corporation (Japan), Teledyne Technologies (US), Sony Corporation (Japan), Texas Instruments (US), Intel Corporation (US) are some of the the major manufacturers of the machine vision products and equipments.

Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=234246734

Machine vision systems can be deployed on general and robotic cell. Deployment on robotic cell is expected to hold high growth opportunities in the market. Machine vision market of food & packaging Industry for robotic cell is expected to have high compound annual growth rate. The Asia Pacific region is expected to contribute highest in the machine vision market. Increasing wages leading to adoption of vision- guided industrial robots and other automation technologies, especially in China, is expected to drive the demand for deployment of machine on robotic cell.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

This release was published on openPR.