Machine Vision Market Size Worth USD 25.71 billion by 2030 at 7.6% CAGR - Report by SNS Insider

Machine Vision Market Scope & Overview

According to SNS Insider, the Machine Vision Market reached a valuation of USD 14.31 billion in 2022 and is projected to attain USD 25.71 billion by 2030, with a compound annual growth rate (CAGR) of 7.6% during the forecast period from 2023 to 2030. Machine Vision Market to Grow Exponentially Driven by Increasing Demand for Product Traceability and Adoption in Emerging Applications.

Machine vision is a rapidly evolving field that enables machines to interpret and understand visual information, mimicking human visual perception. Its applications span across industries, contributing to improved quality control, automation, medical diagnosis, autonomous systems, and many other areas, ultimately enhancing efficiency, accuracy, and decision-making capabilities.

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Key Players Covered in Machine Vision market report are:

Allied Vision Technologies,
Keyence Corporation,
Microscan Systems,
National Instruments Corporation,
Cognex Corporation,
LMI Technologies,
Sick,
Basler,
OMRON Corporation
Tordivel.

Market Analysis

One of the key drivers for the future growth of the machine vision market is the rising adoption of automation in industries such as manufacturing, automotive, healthcare, and electronics. Machine vision systems enable automated inspection, quality control, and precise measurements, reducing human error and improving overall productivity. As industries strive for greater precision, accuracy, and speed in their operations, the demand for machine vision solutions is expected to soar.

Impact of Recession

While recessions can pose challenges for the machine vision market, they can also present opportunities for adaptation, innovation, and industry growth. The impact of a recession on the market will depend on the severity and duration of the economic downturn, as well as the specific industries and regions affected. However, by recognizing the shifting priorities of businesses during a recession and adapting to meet their changing needs, machine vision companies can navigate through challenging times and emerge stronger in the post-recession period.

Segmentation Analysis

As industries across the globe strive for increased productivity, improved product quality, and reduced operational costs, the Robotic Cell Segment and Quality Assurance & Inspection Segment within the machine vision market are poised to dominate. The seamless integration of machine vision technology with robotic cells revolutionizes manufacturing processes, while machine vision-based quality assurance and inspection systems ensure consistent product quality and compliance. With ongoing advancements in technology, such as AI and deep learning, the dominance of these segments is expected to strengthen further, cementing machine vision's pivotal role in modern industries.

Machine Vision Market Segmentation as Follows:

BY COMPONENT
Hardware
Software
Service

BY PRODUCT
Smart Cameras
PC- based

BY DEPLOYMENT
Robotic cell
General machine vision system

BY APPLICATION
Quality Assurance & Inspection
Measurement
Predictive maintenance
Positioning & Guidance
Identification

BY END-USE INDUSTRY
Automotive
Food & Packaging
Consumer Electronics
Metals
Pharmaceuticals
Printing
Solar Panel Manufacturing
Electronics and Semiconductor
Glass
Wood and Paper
Rubber & Plastics
Machinery/Equipment
Textile

Segmented by Region/Country:
North America
Europe
China
Japan
Asia Other

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Regional Status & Analysis

The machine vision market in Asia Pacific is witnessing remarkable growth, driven by factors such as the robust manufacturing industry, government support, technological advancements, automation trends, and expanding applications. As Asia Pacific continues to lead in these areas, it is well-positioned to dominate the global market. With its innovative capabilities and a conducive ecosystem, the region is likely to witness sustained growth in machine vision adoption, shaping the future of industries across the region and beyond.

Conclusion

With the combination of automation, AI, and emerging technologies, machine vision systems are set to play a vital role in transforming industries and enabling smarter, more efficient processes. As businesses recognize the value of machine vision in enhancing productivity, quality, and safety, the demand for innovative and reliable solutions will continue to rise, driving the growth of the market in the coming years.

Frequently Asked Questions about this Research Report

Q1. What is the projected outlook for machine vision market growth?

ANS: The market is projected to reach a value of approximately USD 25.71 billion by the year 2030.

Q2. What are the major factors influencing the machine vision market?

ANS: The increasing need for improved product quality, safety, and traceability is driving the adoption of machine vision systems.

Q3. Who are the leading players in the machine vision market?

ANS: Allied Vision Technologies, Keyence Corporation, Microscan Systems, National Instruments Corporation, Cognex Corporation, LMI Technologies, Sick, Basler, OMRON Corporation and Tordivel.

Table of Content - Analysis of Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Machine Vision Market Segmentation, By Components
9. Machine Vision Market Segmentation, By Product
10. Machine Vision Market Segmentation, By Deployment
11. Machine Vision Market Segmentation, By Application
12. Machine Vision Market Segmentation, By End Use Industry
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion

Continued…

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This release was published on openPR.