Press release
Machine Vision Market Technology Trends, Share Analysis, Size, Segmentation, And Forecast To 2032
Machine Vision Market Analysis
The Business Research Company's Machine Vision Global Market Report 2023 identifies growing need for quality inspection and automation as the major driver for the machine vision market's growth in the forecast period. Quality control helps the manufacturing industry in detecting production problems early, ensuring product quality, and saving time. Machine vision systems are used to capture images of products to analyze them based on various quality and safety characteristics.
The global machine vision market size will grow from $13.54 billion in 2022 to $14.66 billion in 2023, at a compound annual growth rate (CAGR) of 8.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the machine vision is expected to grow to $20.64 billion in 2027 at a CAGR of 8.9%.
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Major competitors in the machine vision market are Allied Vision Technologies GmbH, Basler AG, Cognex Corporation, FLIR Systems, Intel Corporation, ISRA Vision, Keyence Corporation, LMI Technologies Inc.
A key trend in the machine vision market includes implementation of Artificial intelligence (AI). Artificial intelligence focuses on learning, reasoning, and self-correction and is processed by machines such as computers. Major companies operating in the machine vision systems sector are focused on artificial intelligence-based techniques to strengthen their position. For instance, in February 2020, Basler AG, a Germany-based manufacturer of artificial machine vision equipment systems that identify, control, and monitor manufactured goods during production, launched a new fully integrated development AI Vision Solution Kit with cloud connectivity, allowing AI-based IoT applications to run on an optimized vision system and access cloud services. It significantly minimizes the need for specialist knowledge of embedded hardware and software technology, as well as the complexity of the system.
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The machine vision market is segmented -
1) By Product: PC Based, Smart Camera Based
2) By Offering: Hardware, Software, Service
3) By Deployment Type: General Machine Vision System, Robotic Cell
4) By Application: Quality Assurance And Inspection, Positioning And Guidance, Measurement, Identification, Predictive Maintenance
5) By End-Use industry: Automotive, Pharmaceuticals And Chemicals, Electronics And Semiconductor, Pulp And Paper, Printing And Labeling, Food And Beverage, Postal And Logistics, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the machine vision market.
The Business Research Company's "Global Machine Vision Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Machine Vision Market Include:
1. Executive Summary
2. Machine Vision Market Characteristics
3. Machine Vision Market Trends And Strategies
4. Machine Vision Market - Macro Economic Scenario
5. Machine Vision Market Size And Growth
……..
26. Africa Machine Vision Market
27. Machine Vision Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Machine Vision Market
29. Machine Vision Market Future Outlook and Potential Analysis
30. Appendix
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