Machine Vision Market Size, Emerging Trends, Growth Rate, Business Opportunities And Forecast To 2033

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Machine Vision Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $27.29 billion In 2028 At A CAGR Of 9.5% :

The machine vision market size has grown strongly in recent years. It will grow from $17.49 billion in 2023 to $19.01 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to growing need for quality inspection and automation, rapid urbanization, rapid technological adoption, and strong economic growth in emerging markets.

The machine vision market size is expected to see strong growth in the next few years. It will grow to $27.29 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to increasing urbanization, increasing smart cities, and technological advances. Major trends in the forecast period include vision-guided robotic systems, smart cameras and image processing, industry 4.0 and internet of things, and cyber-physical system (cps).

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Machine Vision Market Major Segments
The machine vision market covered in this report is segmented -

1) By Product: PC-Based And Smart Camera-Based
2) By Offering: Hardware, Software, Service
3) By Deployment Type: General Machine Vision Systems, Robotic Cell
4) By Application: Quality Assurance And Inspection, Positioning And Guidance, Measurement, Identification, Predictive Maintenance
5) By End-User: Automotive, Pharmaceuticals And Chemicals, Electronics And Semiconductors, Pulp And Paper, Printing And Labeling, Food And Beverage, Postal And Logistics, Other End-Users

Key Driver - Surging Demand For Artificial Intelligence Drives Growth In The Machine Vision Market

The increasing demand for artificial intelligence is expected to propel the growth of the machine vision market going forward. Artificial Intelligence (AI) refers to the simulation of human intelligence processes by computer systems. Artificial intelligence (AI) plays a crucial role in enhancing the capabilities of machine vision, leading to improved accuracy, efficiency, and versatility. For instance, in January 2022, according to the Government Digital Service, a UK-based government body, overall spending on AI technologies would rise between 2020 and 2040 from $20.25 billion to $101.26 billion. Therefore, the increasing demand for artificial intelligence is driving the growth of the Machine vision market.

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Prominent Trend - Vision-Guided Robotic Systems Take Center Stage In The Machine Vision Market

Vision-guided robotic systems are a key trend gaining popularity in the machine vision market. A vision-guided robotic system combines robotic applications with the assistance of a machine vision system. A robotic arm receives accurate coordinates via a specialized camera that takes a picture of an object and analyses it. For instance, in February 2022, Basler AG, a Europe-based manufacturer of computer vision applications, launched an industrial-grade stereo camera series to its product portfolio that uses vision-guided robotic systems to identify objects and bin picking. The five model variants are available in monochrome and color versions, with basic distances of 65 millimeters and 160 millimeters. All cameras come with a pre-installed, flexible onboard software package that may be used in a variety of robotics applications.

Machine Vision Market Players
Major companies operating in the machine vision market report are Cognex Corporation, Keyence Corp., Omron Corporation, Sony Corporation, Teledyne Technologies, ISRA Vision AG, Basler AG, Sick AG, Intel Corporation, Texas Instruments, Naver, IDS Imaging Development Systems GmbH, Tordivel AS, Samsung Electronics, LG Electronics, SK Hynix, Azure Photonics, OPT Machine Vision Tech, Hangzhou Contrastech Co. Ltd, Ningbo Hi-Tech S-View Technology Co. Ltd, Stemmer Imaging, Sking Intelligent Equipment, Panasonic, Changchun UpOptotech, Daheng New Epoch Technology, Hunan Chinasun Pharmaceutical Machinery, DALSA, BitFlow, Datalogic, Hikvision, Banner, Baumer, TKH Group, Allied Vision Technologies GmbH, Microscan Systems, Inc., Euclid Labs, Stermedia, Alphamoon, Sigmoidal, Neoteric, Miquido, Merixstudio, Intetics Inc., Google, Facebook, Microsoft, Huawei, WEG, Pix Force, Meerkat Computer Vision, MVisia, IntelliSite, Deep Vision, LMI Technologies Inc., Garmin Ltd., Autoliv Inc., and Magna International, Continental AG, Flir Systems, Inc., National Instruments Corporation, Optotune Ag, Perceptron, Inc., USS Vision, Inc, JAI A/S.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the machine vision market in 2023. The regions covered in the machine vision market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Machine Vision Market Report Structure
3. Machine Vision Market Trends And Strategies
4. Machine Vision Market - Macro Economic Scenario
5. Machine Vision Market Size And Growth
…..
27. Machine Vision Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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