Press release
Vision Inspection Systems Market is expected to reach $23.5 billion by 2031
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Growth Drivers
Stringent Government Regulations & Compliances Related to
Increasing Adoption of Industry 4.0 Technologies
Industry 4.0 technologies, including the Internet of Things (IoT), robotics, cloud computing, AI, automation, and big data analytics, enhance traditional manufacturing operations by enabling automation, data exchange, and real-time insights. The adoption of these technologies facilitates the development of intelligent inspection systems equipped with machine vision, smart cameras, AI, and IoT connectivity for real-time quality control and defect detection. Companies are increasingly focusing on advancing vision inspection technologies. For instance, in January 2021, Cognex Corporation introduced the In-Sight 3DL4000 embedded vision system, utilizing 3D laser displacement technology for various inspections on automated manufacturing lines.
Market Analysis: Key Findings
By Offering: Dominance of the Hardware Segment
In 2024, the hardware segment is projected to dominate the vision inspection systems market, accounting for over 59.0% of the market share. The hardware segment includes vision sensors, lenses, lighting, cameras, processors, and peripheral devices. Factors driving this segment's growth include the increased adoption of machine vision inspection for quality assurance, the need to optimize workflow efficiency, and the rising focus on enhancing product quality during development and production stages. The software segment, however, is expected to register the highest CAGR during the forecast period, driven by the growing demand for vision inspection software and the development of AI vision inspection solutions.
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By Application: Leading Role of the Defect Detection Segment
The defect detection segment is anticipated to hold the largest market share of over 27.0% in 2024. This segment's growth is attributed to the development of advanced vision inspection systems for accurate defect detection, manufacturers' focus on improving production efficiency and product quality, and the integration of AI technology in vision inspection systems. The identification inspection segment is expected to register the highest CAGR during the forecast period, driven by the F&B industry's emphasis on identifying leaked packaging and damaged products and the need for faster inspection processing in fast-paced environments.
By Type: Dominance of the PC-Based Segment
The PC-based segment is projected to dominate the vision inspection systems market in 2024, accounting for over 49.0% of the market share. PC-based systems offer high flexibility, power, and speed, making them ideal for fast-paced manufacturing environments. The smart camera-based segment is expected to register the highest CAGR during the forecast period, driven by the increasing use of AI technology in vision inspection systems and the development of AI vision camera systems for inspection.
By Inspection Mode: Prominence of the 2D Mode Segment
In 2024, the 2D mode segment is expected to account for over 56.0% of the market share. The affordability and simplicity of 2D vision inspection systems make them popular for barcode reading, pattern recognition, and quality inspection across various industries. The 3D mode segment, however, is expected to register the highest CAGR during the forecast period, driven by the adoption of multi-camera inspection systems, advancements in 3D imaging technology, and the focus on intricate geometries and complex product manufacturing.
By End User: Dominance of the Food & Beverage Segment
The food & beverage segment is projected to hold the largest market share of over 24.0% in 2024. This segment's growth is driven by strict legal requirements, rising raw material and energy prices, the need to ensure food quality and production efficiency, and the launch of advanced inspection systems for the food & beverage industry. The pharmaceutical segment is expected to register the highest CAGR during the forecast period, driven by stringent regulatory requirements for product quality and safety, the adoption of automation and technological advancements, and the focus on reducing production costs and improving manufacturing efficiency.
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Geographical Analysis: Asia-Pacific to Lead the Market
In 2024, Asia-Pacific is expected to dominate the vision inspection systems market, accounting for over 36.0% of the market share. The region's growth is driven by the presence of a robust manufacturing industry, increasing investments in digital transformation, stringent safety regulations, and rising industrialization. The Asia-Pacific region is also projected to register the highest CAGR of 13.40% during the forecast period, supported by the growing adoption of automation systems, demand for quality products, and increased manufacturing activities across various industries.
Vision Inspection Systems Market: Key Companies
The vision inspection systems market features a competitive landscape with key players actively enhancing their product portfolios and adopting strategic growth initiatives. Leading companies include Teledyne Technologies Incorporated, OMRON Corporation, Optel Vision Inc., Cognex Corporation, KEYENCE CORPORATION, FANUC CORPORATION, Mettler-Toledo International Inc., Antares Vision S.p.A., Datalogic SpA, Averna Technologies Inc., National Instruments Corporation, Pleora Technologies Inc., USS Vision LLC, ISRA VISION GmbH, and Qualitas Technologies. Recent developments from these companies highlight their focus on integrating AI and advanced vision technologies to enhance inspection capabilities and meet market demands.
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Conclusion
The vision inspection systems market is poised for substantial growth, driven by stringent regulations, the need for automated inspection processes, and the adoption of Industry 4.0 technologies. Despite challenges such as high initial investment costs, technological advancements and AI integration offer promising opportunities for market expansion. The market is expected to witness significant developments in hardware and software offerings, with key applications in defect detection, identification inspection, and quality control.
The Asia-Pacific region is anticipated to lead the market, supported by robust manufacturing activities and increasing demand for quality products across various industries. As companies continue to innovate and invest in advanced vision inspection systems, the market is set to evolve, providing enhanced quality control and efficiency in manufacturing processes globally.
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