Global Machine Vision Market Projected to Surpass $32.66 Billion by 2029 with 11.3% Annual Growth

What market dynamics are playing a key role in accelerating the growth of the machine vision market?
The machine vision market's growth is anticipated to be driven by the escalating demand for artificial intelligence. AI, the imitation of human intellectual processes by computer systems, significantly boosts the efficiency, precision, and flexibility of machine vision. For example, a report by the Australian government agency, the Commonwealth Scientific and Industrial Research Organization (CSIRO), in May 2023 revealed that 68% of Australian companies have already incorporated AI technologies, with another 23% planning to do so in the following year. Hence, the growing need for artificial intelligence is propelling the development of the machine vision market.

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How will the growth rate of the machine vision market shape industry trends by 2034?
In recent times, the machine vision market has exhibited robust growth. It is projected to expand from a worth of $19.59 billion in 2024 to a value of $21.27 billion in 2025, at a compound annual growth rate (CAGR) of 8.6%. Factors contributing to this historical growth include the increasing demand for quality inspection and automation, swift urbanization, rapid adoption of technology, and vigorous economic expansion in burgeoning markets.

In the coming years, the machine vision market is projected to experience swift expansion, escalating to a market size of $32.66 billion by 2029 with a CAGR of 11.3%. This predicted increase in the forecast period can be credited to factors such as growing urbanization, the rise of smart cities, and leaps in technology. The upcoming trend forecasts for this period indicate a focus on vision-guided robotic systems, smart cameras coupled with image processing, industry 4.0 and the Internet of Things, and cyber-physical systems (CPS).

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What are the emerging trends shaping the future of the machine vision market?
One important emerging trend in the machine vision market is the utilization of vision-guided robotic systems. These systems integrate the functionalities of a robotic application with the support of a machine vision system, where a designated camera provides precise coordinates to a robotic arm, through imaging and analyzation of an object. For example, in February 2022, Basler AG, a computer vision applications manufacturer in Europe, added an industrial-grade stereo camera series to their offerings. These cameras employ vision-guided robotic systems to detect objects and perform bin picking. The series includes five model variants in both monochrome and color versions, with standard distances of 65mm and 160mm respectively. All cameras in the series are equipped with a versatile onboard software package suitable for diverse robotics applications.

Which primary segments of the machine vision market are driving growth and industry transformations?
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

Subsegments:
1) By PC-Based: Frame Grabbers, Vision Processing Software, Industrial Cameras
2) By Smart Camera-Based: Integrated Smart Cameras, Embedded Vision Systems, All-in-One Machine Vision Solutions

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Which geographical regions are pioneering growth in the machine vision market?
Asia-Pacific was the largest region in the machine vision market in 2024. The regions covered in the machine vision market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the machine vision market landscape?
Major companies operating in the machine vision market include 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., Flir Systems, Inc., National Instruments Corporation, Optotune Ag, Perceptron, Inc., USS Vision, Inc, JAI A/S.

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What Is Covered In The Machine Vision Global Market Report?

• Market Size Forecast: Examine the machine vision market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the machine vision market for a structured understanding.
• Key Players Overview: Analyze major players in the machine vision market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the machine vision market.
• Segment Contributions: Evaluate how different segments drive overall growth in the machine vision market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the machine vision market.
• Industry Challenges: Identify potential risks and obstacles affecting the machine vision market.
• Competitive Landscape: Review strategic developments in the machine vision market, including expansions, agreements, and new product launches.

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