Press release
Machine Vision Market to Reach US$ 19.7 Billion by 2028 | CAGR of 9.3%
Machine Vision Market
A machine vision system is a technology that provides imaging-based automatic inspection and analyses of a product, depending on the different quality and safety parameters. It represents the ability of a computer to monitor and inspect work performance by employing video cameras, digital signal processing, and analog-to-digital conversion. It provides additional safety and operational advantages by reducing manual involvement in the production process. As a result, it assists in reducing human contamination in clean rooms and protects workers from potentially dangerous environments. Additionally, it works through the precise coordination of the software and hardware and is widely adopted by numerous industries, such as food manufacturing, autonomous vehicles, security, packaging, and logistics.
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Global Machine Vision Industry Demand:
A significant development in machine vision systems is driving the global market. Moroever, the increasing adoption of robots across the industrial sector and the rising demand for superior inspection and automation are propelling the market. Apart from this, continuous technological advancements in electronics products, such as the miniaturization of components, improvement in the power efficiency of imaging sensors, and higher efficiency of digital signal processors (DSP), are providing a boost to the demand.
Furthermore, the increasing need for quality control by manufacturers and consumers, coupled with government regulations to abide by the prescribed specifications, is anticipating the market favorably. Other factors, such as wide utilization in numerous industries and extensive research and development (R&D) activities by key players, are also influencing the market.
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Key Market Segmentation:
Top Companies In Global Machine Vision Industry:
• Cognex Corporation
• Basler AG
• Omron Corporation
• National Instruments Corporation
• Keyence Corporation
• Sony Corporation
• Teledyne Technologies, Inc.
• Texas Instruments, Inc
• Allied Vision Technologies GmbH
• Intel Corporation
• Baumer Optronic GmbH
• Jai A/S.
Breakup by Product:
• Vision Systems
• Cameras
• Others
Breakup by Component:
• Hardware
• Software
Breakup by Application:
• Positioning
• Identification
• Verification
• Measurement
• Flaw Detection
• Others
Breakup by Industry:
• Electronics and Semiconductor
• Automotive
• Medical and Pharmaceutical
• Food, Packaging and Printing
• Security and Surveillance
• Intelligent Traffic System
• Others
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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