Global Industrial Machine Vision Camera Market Value to grow to US$4.26 billion by 2028

The global industrial machine vision camera market refers to the industry that provides cameras specifically designed for use in industrial settings for various applications such as inspection, quality control, and process monitoring. Machine vision cameras are designed to capture high-resolution images and video footage for automated analysis and processing.

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The global industrial machine vision camera market in 2022 was valued at US$2.84 billion. The market value is anticipated to grow to US$4.26 billion by 2028. Industrial machine vision cameras are specialized cameras designed for use in industrial automation and quality control applications. These cameras are typically used in manufacturing plants, warehouses, and other industrial settings to capture images of products, components, and other objects.

The market value is expected to grow at a CAGR of 7.05% during the forecast period of 2023-2028. Inspection is the key driver to machine vision camera adoption, given the labor-saving opportunity with 35 million product inspectors worldwide. Inspection can include search for defects, contaminants, functional flaws, and other irregularities in the manufacturing process.

Global industrial machine vision camera market is concentrated market with top 3 players- Keyence, Teledyne Technologies Incorporated and Cognex hold around 47% of market share. Furthermore, top 5 companies, incorporating TKH and Basler account for more than 60% of the market. Technological advancements in the market are also bringing sustainable competitive advantage to companies, and the market is witnessing multiple partnerships and mergers.

The key players in the global industrial machine vision camera market are:

Keyence Corporation
Teledyne Technologies Incorporated
Cognex Corporation
TKH Group
Basler AG
IDS Imaging Development Systems GmbH
Toshiba Corporation
Omron Corporation
Baumer Holding AG
Sony Corporation
Jai A/S
Hikrobot

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The market for industrial machine vision cameras is driven by the increasing demand for automation and quality control in manufacturing industries. The growing adoption of Industry 4.0 and smart factory initiatives is also driving the demand for machine vision cameras in industrial settings.

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