Machine Vision Camera Market Size, Share, Opportunities, Key factors, Strategies, Industry Growth and Forecast 2023 to 2031 | Absolute Vision Adept Technology AE Robotics Co., Ltd. Allied Vision Technologies GmbH Basler AG

Global machine vision camera market had a successful year in 2022, generating a revenue of US$ 3.61 billion. The market is projected to continue growing at a compound annual growth rate (CAGR) of 9.4% during the forecast period of 2023-2031, and is expected to reach a market size of US$ 7.88 billion by 2031.

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The use of machine vision cameras is increasingly popular among manufacturers due to their ability to automate and streamline production processes. These cameras are used in various applications, from quality control and inspection to product tracking and packaging. Manufacturers opt for machine vision cameras for several reasons, including improved quality control, increased productivity, cost-saving, and enhanced safety. With machine vision cameras, manufacturers can detect defects and errors in products with high accuracy and consistency, reducing the risk of product recalls and resulting in significant cost savings.

Machine vision camera market gaining momentum to automate certain tasks, reducing the time and labor required for inspection and testing and increasing productivity and efficiency. In addition, machine vision cameras can be used in hazardous environments, enabling remote inspection and reducing the need for human intervention in dangerous situations. A study by the International Journal of Engineering Research & Technology found that the use of machine vision cameras in manufacturing processes can result in cost savings of up to 25%. This is because machine vision cameras can detect defects and errors in products with high accuracy, reducing the need for manual inspection and rework.

Additionally, a study by the Association for Advancing Automation found that 90% of manufacturers who implemented machine vision technology reported a positive impact on productivity, with 60% reporting a decrease in labor costs. This demonstrates how the use of machine vision cameras can lead to significant cost savings for manufacturers.

As per Astute Analytica, major end-users of machine vision cameras include manufacturers, system integrators, and OEMs, and the end-use applications are vast, ranging from automotive and pharmaceuticals to food and beverage and electronics.

Top Trends Shaping the Global Machine Vision Camera Market

Increased sensitivity: Manufacturers are also trying to incentivize customers by offering cameras with increased sensitivity to light. This allows the cameras to capture clear images in low light conditions, which is useful in many industrial applications.
Faster frame rates: Another trend in the machine vision camera market is the demand for faster frame rates. Manufacturers are trying to incentivize customers by offering cameras with faster readout speeds, which can capture more images in a shorter amount of time.
Smaller form factors: As machines become smaller and more compact, there is a growing demand for machine vision cameras with smaller form factors. Manufacturers are incentivizing customers by offering cameras that are smaller and more lightweight, making them easier to integrate into smaller machines and devices.
Enhanced connectivity: With the growth of Industry 4.0 and the Industrial Internet of Things (IIoT), manufacturers are incentivizing customers by offering cameras with enhanced connectivity options. This includes features such as Ethernet, USB, and Wi-Fi connectivity, which allow cameras to easily integrate with other devices and systems.
Artificial intelligence (AI) integration: Another trend in the machine vision camera market is the integration of AI technology. Manufacturers are incentivizing customers by offering cameras with built-in AI algorithms, which can perform tasks such as object detection, image classification, and facial recognition. This allows the cameras to be used in a wide range of applications, from industrial automation to security and surveillance.
Gauging and Measurement Applications to Drive Machine Vision Camera Market with over 26% Revenue Share

Machine vision cameras are projected to generate over 26% of their revenue from gauging and measurement applications, according to recent market research. This reflects the rising demand for machine vision solutions that can accurately measure and gauge products and processes.

The demand for machine vision cameras in gauging and measurement applications is driven by several factors. One of the primary drivers is the need for precision and accuracy in manufacturing processes. Machine vision cameras provide a highly accurate way of measuring and gauging products and processes, ensuring they meet required specifications.

The increasing complexity of manufacturing processes in the global machine vision camera market is another driver. Traditional methods of measurement and gauging struggle to keep pace with these complex processes. Machine vision cameras offer a more efficient and accurate way to measure and gauge products and processes, thus improving quality and productivity.

Finally, the increasing adoption of automation in manufacturing is driving demand for machine vision cameras. Manufacturers turn to machine vision cameras to provide the necessary measurement and gauging capabilities as they seek to automate their processes to improve efficiency and reduce costs.

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North America to Generate Over 33% Revenue of Global Machine Vision Camera Market

North America is an important market for machine vision cameras, projected to capture more than 33% of the market's revenue share. Although Asia Pacific is currently the largest market, with a 36% revenue share, North America is closing in fast.

One of the reasons for North America's strong position is the region's robust and technologically advanced manufacturing industry. Additionally, North America's stringent regulations and standards for product quality and safety drive the demand for machine vision cameras in manufacturing processes. The adoption of automation in manufacturing is also a key driver of the market in North America, as it increases the need for accurate and efficient measurement and gauging.

However, Asia Pacific is currently growing at the fastest CAGR in the global machine vision camera market due to various factors. The rapidly expanding manufacturing industry in the region, supported by government initiatives and investments, is driving the demand for machine vision cameras. Additionally, the region's increasing adoption of automation and robotics in manufacturing is further driving the market forward. The rise in labor costs is also pushing manufacturers to automate their processes, thus boosting the demand for machine vision cameras.

Top 9 Players Hold Over 43% Revenue of the Global Machine Vision Camera Market

The machine vision market is a highly competitive industry, driven by the growing demand for automated tools in various sectors. According to Astute Analytica's projections, the market is expected to reach a market size of $7.88 billion by 2031, indicating significant growth potential for companies operating in this space.

The market is dominated by a few key players, with the top 9 players holding over 43% of the revenue share. Basler AG and Teledyne DALSA are the two largest players, with 8% and 7% revenue shares respectively. This highlights the importance of product innovation, strategic partnerships, and effective marketing strategies in gaining a competitive edge in this market.

To succeed in this highly competitive machine vision camera market, companies need to focus on developing advanced machine vision systems that offer high accuracy, reliability, and efficiency. Additionally, establishing strong relationships with customers and partners is crucial to expanding market reach and increasing brand awareness.

To stay ahead of the competition, companies need to conduct to identify emerging trends and customer needs. This can help them tailor their products and services to meet the demands of the market and stay ahead of their competitors. Furthermore, companies can explore new partnerships and collaborations to expand their capabilities and reach new customers.

Some of the Top Market Players Are:

Absolute Vision
Adept Technology
AE Robotics Co., Ltd.
Allied Vision Technologies GmbH
Basler AG
Baumer
CIS Corporation
Cognex Corporation
Dahua Technology Co., Ltd
Eastman Kodak Company
Electro Scientific Industries
FRAMOS
Hexagon AB
Hikrobot Co., Ltd.
ISRA Vision AG
JAI
Keyence Corporation
Microscan Systems
Mikrotron
National Instruments Corporation
OMRON Corporation
Photron
Qualcomm Technologies
STEMMER IMAGING AG
SVS-Vistek GmbH
Teledyne FLIR LLC
The Lucid Vision Labs
Toshiba
USS Vision
Other prominent players

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