Press release
Global Machine Vision Software Market to Reach $4.26 Billion by 2029, Growing at 19.4% CAGR
Machine Vision Software Market Outlook
The machine vision software market has grown quickly in recent years. It is set to grow from $1.76 billion in 2024 to $2.1 billion in 2025, at a CAGR of 19.0%. Growth in the historical period can be attributed to the rising demand for quality inspection in manufacturing, the growing adoption of machine vision across different industries, the advantages it offers in various applications, and its use in inventory management and customer analytics in e-commerce and retail. The pandemic has caused some slowdown in market growth.
The Machine Vision Software market will grow to $4.26 billion by 2029, at a CAGR of 19.4%, driven by automation in manufacturing, quality inspection demand, and Industry 4.0 adoption. Trends include technological advancements, machine vision in robotics, Industry 4.0 adoption, and strategic partnerships.
What Factors Are Fueling Growth in the Machine Vision Software Market?
The growing need for quality inspection is projected to propel the machine vision software market. Quality inspection involves systematically evaluating products or processes to ensure they meet established standards, guaranteeing reliability and compliance. Machine vision software enhances this process by automating and refining the inspection through image processing and pattern recognition, allowing for faster and more precise defect detection. For example, the International Federation of Robotics reported in September 2024 that industrial robot sales in the UK reached a record high in 2023, with 3,830 units sold, a 51% increase from the previous year. Thus, the increasing demand for quality inspection is driving the growth of the machine vision software market.
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Which Leading Companies Are Shaping the Growth of the Machine Vision Software Market?
Major companies operating in the machine vision software market are Alphabet Inc., Microsoft Inc., Intel Corporation, Texas Instruments Incorporated, Atlas Copco AB, Keyence Corporation, Omron Microscan Systems Inc., Teledyne Technologies, Zebra Technologies Corporation, FLIR Systems Inc., TKH Group, National Instrument Corporation, Cognex Corporation, Datalogic S.p.A., Baumer Holding AG, Basler AG, Key Technology Inc., Sick AG, Vitronic GmbH, Isra Vision AG, Stemmer Imaging AG, Matrox Imaging, Allied Vision Technologies GmbH, Qualitas Technologies Pvt. Ltd., MVTec Software GmbH
What Are the Major Trends Shaping the Machine Vision Software Market?
In the machine vision software market, companies are focused on technologies like fixed-mount barcode readers. Fixed-mount barcode readers are scanning devices that are permanently positioned in specific locations. For example, in February 2022, Cognex Corporation, a US-based machine vision provider, launched the DataMan 280 Series Fixed-Mount Barcode Reader, designed to handle challenging ID applications in sectors like logistics and manufacturing. The device enhances throughput and equipment effectiveness, enabling accurate barcode reading in various applications.
What Are the Key Segments of the Machine Vision Software Market?
The machine vision software market covered in this report is segmented -
1) By Technology: Personal Computer-Based Machine Vision, Smart Camera-Based Machine Vision, Embedded Machine Vision
2) By Application: Quality Control And Inspection, Robotics And Automation, Packaging And Labeling, Surface Inspection, Security And Surveillance, Other Applications
3) By End Use: Manufacturing, Automotive, Electronics And Semiconductor, Healthcare, Transportation And Logistics, Retail And Consumer Electronics, Banking And Finance, Other End Users
Subsegments:
1) By Personal Computer-Based Machine Vision: Software Solutions, Imaging Hardware Integration, Processing Power Optimization
2) By Smart Camera-Based Machine Vision: Integrated Software Solutions, Onboard Processing Capabilities, Communication Interfaces
3) By Embedded Machine Vision: Custom Hardware Solutions, Compact Software Frameworks, Real-Time Processing Capabilities
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Which Region Dominates the Machine Vision Software Market?
North America was the largest region in the machine vision software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machine vision software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Machine Vision Software Global Market Report?
- Market Size Analysis: Analyze the Machine Vision Software Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Machine Vision Software 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 Software Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Machine Vision Software Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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