Machine Vision Market Set to Surge to $35.4 Billion by 2031, Growing at a 12.7% CAGR, According to Insider Market Research

Machine Vision Market 2024-2031 Forecast: Unveiling Opportunities and Growth

Global Machine Vision Market is an exploration report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. These bits of knowledge offered in the Machine Vision Market report would benefit request players to define systems for the future and gain a solid situation in the worldwide market request development. Other than this, the specialists have profoundly contemplated distinctive geological regions and introduced a serious situation to help new rivals, driving business sector players and fiscal backers to decide arising economies.

According to Insider Market Research, the Machine Vision Market size is estimated to increase by USD 35.4 Billion at a CAGR of 12.7% from 2024 to 2031. Currently, the market value is pegged at USD 19.2 Billion.

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Key Players in the Machine Vision market:
Allied Vision Technologies GmbH
Basler AG
Cognex Corporation
Keyence Corporation
LMI Technologies, Inc.
National Instruments Corpor.
OMRON Corporation
Sick AG
Tordivel AS

Market Leaders & Development Strategies:

In July 2024, Fitterfly, a digital therapeutics startup based in India, said that it is collaborating with Google Cloud to introduce Fitterfly Klik, an AI tool that lets people with diabetes track their meals using computer vision enabled by Gemini 1.5 Flash on Google Cloud's Vertex AI platform.

In June 2024, Inspector83x is a new 2D vision sensor by SICK. With a data processing rate of up to 15 inspections per second on the device, it provides a stand-alone solution for automated inspection tasks including defect identification and sorting. OCR/OCV duties are also managed by the system.

Market Drivers:
Technological advancements
Increasing automation in industries
Rising demand for quality control and inspection

Market Restraints:
Complex integration and maintenance

Market Opportunities:
Expansion in emerging markets
Advancements in AI and Machine Learning

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Market Segmentation & Coverage:

This research report categorizes the Machine Vision Market to forecast the revenues and analyze trends in each of the following sub-markets:

By Offering:
Hardware
Software
Services

By Product:
PC Based
Smart Camera Based

By Application:
Quality Assurance and Inspection
Positioning and Guidance
Measurement
Identification
Predictive Maintenance

By End User:
Automotive
Pharmaceuticals & Chemicals
Electronics & Semiconductor
Pulp & Paper
Printing & Labeling
Food & Beverage (Packaging and Bottling)
Glass & Metal
Postal & Logistics
Others

Machine Vision Market Regional Analysis:

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Machine Vision in these regions, covering

North America (USA, Canada and Mexico)
Europe (UK, Germany, France and the Rest of Europe)
Asia Pacific (China, Japan, India, and the Rest of the Asia Pacific region)
South America (Brazil, Argentina and the Rest of South America)
Middle East and Africa (GCC and Rest of the Middle East and Africa)

** Note - This report sample includes:

Scope For 2025
Brief Introduction to the research report.
Table of Contents (Scope covered as a part of the study)
Top players in the market
Research framework (structure of the report)
Research methodology adopted by Insider Market Research

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FIVE FORCES & PESTLE ANALYSIS:

In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.

• Political (Political policy and stability as well as trade, fiscal, and taxation policies)

• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)

• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)

• Technological (Changes in digital or mobile technology, automation, research, and development)

• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)

•Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

Key takeaways from the Machine Vision Market report:

• Detailed consideration of Machine Vision industry-particular drivers, Trends, constraints, Restraints, Opportunities, and major micro markets.

• In-depth study of industry strategies for growth of the Machine Vision market-leading players.

• Machine Vision market latest innovations and major procedures.

• Favourable dip inside Vigorous high-tech and market latest trends remarkable the Market.

• Conclusive study about the growth conspiracy of Machine Vision market for forthcoming years.

Direct Contact:
Greta Richards
Business Development Manager
Insider Market Research
+1 614 385 1709
Email: greta@insidermarketresearch.com
Website: https://www.insidermarketresearch.com/

About Us:
Insider Market Research, we are dedicated to providing you with the comprehensive insights and detailed analyses you need to leverage the power of data and marketing, ensuring your business stays ahead of the curve.

This release was published on openPR.