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