Press release
Global Machine Vision Market: Uncovering Market Size, Growth, and Key Trends till 2029
Machine Vision Market Growth
Envisioning Future Growth: The Global Machine Vision Market's Projected Market Size and Growth Rate?
•The market size is expected to grow from $19.59 billion in 2024 to $21.27 billion in 2025, registering a CAGR of 8.6%.
•The market expansion can be attributed to growing need for quality inspection, automation, rapid technological adoption, and strong economic growth in emerging markets.
•Towards 2029, the market size is predicted to grow to $32.66 billion, with a CAGR of 11.3%.
•The forecast period's growth will be driven by increasing urbanization, smart cities, and advanced technologies.
What Is Propelling the Machine Vision Market's Growth?
The increasing demand for artificial intelligence (AI) is playing a pivotal role in the expansion of the machine vision market. AI is an integral component in enhancing machine vision's capabilities leading to improved accuracy, efficiency, and versatility. For example, a report by the Commonwealth Scientific and Industrial Research Organization (CSIRO), an Australia-based government agency, highlighted that 68% of businesses in Australia have adopted AI technologies and an additional 23% intend to integrate them within the next year. Thus, the escalating demand for AI technology is catalyzing the machine vision market's progress.
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Who Are The Key Players Influencing Machine Vision Market Growth?
Major companies spearheading the machine vision market's growth included:
•Cognex Corporation
•Keyence Corp.
•Omron Corporation
•Sony Corporation
•Teledyne Technologies
•ISRA Vision AG
•Basler AG
•Sick AG
What Are The Highlighting Trends in The Machine Vision Market?
The trending patterns observed in the machine vision market consist of:
•Vision-guided robotic systems
•Smart cameras and image processing
•Industry 4.0 and Internet of Things
•Cyber-physical systems (CPS)
How Is The Global Machine Vision Market Categorized?
The machine vision market is classified based on:
1)Products: PC-Based And Smart Camera-Based
2)Offerings: Hardware, Software, Service
3)Deployment Type: General Machine Vision Systems, Robotic Cell
4)Application: Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification, Predictive Maintenance
5)End-User: Automotive, Pharmaceuticals and Chemicals, Electronics and Semiconductors, Pulp and Paper, Printing and Labeling, Food and Beverage, Postal and Logistics, Other End-Users
Which Region Tops The Machine Vision Market?
Asia-Pacific seized the largest portion of the machine vision market in 2024. The regions documented in the machine vision market report encompass Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Encompassed In The Machine Vision Market Global Market Report?
- Market Size Analysis: Analyze the Machine Vision Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Machine Vision Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Machine Vision Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Machine Vision Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, new product launches in the market.
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