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A Deep Dive into Machine Vision Systems And Components Market 2025: Key Drivers, Growth Factors, and Projections 2025-2034
Machine Vision Systems And Components Market
The surge in the e-commerce sector's popularity is anticipated to stimulate expansion in the machine vision systems and components market. E-commerce, which includes the buying and selling of goods and services and the transfer of money or data over an electronic network, primarily the Internet, is growing due to its convenience, access, and increasing appeal of online shopping. E-commerce employs machine vision systems and components for various operations such as automated product inspection, augmentation of visual search abilities, and enhancement of logistics via efficient object identification, which in turn boosts the overall customer experience and operational efficiency. For instance, the United States Census Bureau reported in November 2023 that e-commerce experienced a growth surge, hitting 7.6% in the third quarter of 2023, a rise from 6.9% in the fourth quarter of 2022. Online stores accounted for 15.4% of all sales in the second quarter of 2023. This trend of increased e-commerce sector popularity is thus contributing to the machine vision systems and components market's growth.
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What is the future CAGR of the machine vision systems and components market, and how will it impact industry expansion?
The market size for machine vision systems and components has seen substantial growth over recent years. It is forecasted to increase from $13.19 billion in 2024 to $14.23 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.8%. The growth during this historical period can be associated with decreasing costs of hardware components, a rise in industrial automation, increased demand in the automotive industry, and regulatory standards and compliance.
The market size of machine vision systems and components is anticipated to experience robust expansion in the upcoming years, scaling up to $18.31 billion in 2029 with a compound annual growth rate (CAGR) of 6.5%. The predicted growth during the forecast period can be linked to the emergence of edge computing, the enlargement of healthcare applications, an increase in robotics and automation, and the growth of smart cities and infrastructure. Leading trends during this period include the progression of sensor technologies, accelerated technological advancements, the development of 3D vision technology, and the fusion of AI (artificial intelligence) with machine vision.
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What are the most significant trends transforming the machine vision systems and components market today?
Leading firms in the machine vision systems and components industry are concentrating on sophisticated solutions, such as self-reliant machine vision systems, for boosting productivity and innovation in diverse sectors. These self-reliant machine vision systems function independently, using cameras and computation algorithms to arrive at decisions without the need for human interference. For illustration, in March 2022, Cognex Corporation, an American System software company, introduced its In-Sight 2800 series of vision systems. This series incorporates state-of-the-art AI capabilities for instantaneous inspections and superior decision-making processes. It merges artificial intelligence with conventional rule-governed vision tools, making it adaptable for assorted applications like detection of presence or absence, sorting, and character reading. The main objective of the In-Sight 2800 is to offer a user-friendly solution for error-checking, thus escalating operational efficacy in numerous industries.
Which key market segments comprise the machine vision systems and components market and drive its revenue growth?
The machine vision systems and components market covered in this report is segmented -
1) By Product Type: PC Based, Smart Camera Based
2) By Component: Hardware, Software
3) By Technology: Imaging Technology, Laser Technology, Augmented Reality
4) By Application: Quality Assurance And Inspection, Position Guidance, Measurement, Identification, Pattern Recognition, Other Applications
5) By End-User: Automotive, Semiconductor, Metal And Glass, Pharmaceuticals, Wood And Paper, Rubber And Plastic, Food Packaging, Consumer Goods, Other End Users
Subsegments:
1) By PC-Based: Vision Software, Frame Grabbers, Image Processing Units, Cameras (CCD Or CMOS), Lighting And Illumination Systems, Industrial PCs And Workstations
2) By Smart Camera-Based: Embedded Cameras, Smart Camera Sensors, Image Processing Modules, Integrated Vision Systems, Onboard Software Solutions
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What regions are at the forefront of machine vision systems and components market expansion?
Asia-Pacific was the largest region in the machine vision system and components market in 2024. The regions covered in the machine vision systems and components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the machine vision systems and components market?
Major companies operating in the machine vision systems and components market are Sony Corporation, Panasonic Corporation, Texas Instruments Incorporated, Omron Corporation, Keyence Corporation, Teledyne Technologies Incorporated, Cypress Semiconductor Corporation, National Instruments Corporation, Cognex Corporation, FLIR Systems Inc., Baumer Optronic GmbH, Basler AG, Vitronic GmbH, Perceptron Inc., Point Grey Research Inc., Scorpion Vision Ltd., Hitachi Industrial Equipment Systems Co. Ltd., IDS Imaging Development Systems GmbH, Sick AG, Lumenera Corporation, Adept Technology Inc., Microscan Systems Inc., Allied Vision Technologies GmbH, JAI AS, Optotune AG
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What Is Covered In The Machine Vision Systems And Components Global Market Report?
•Market Size Forecast: Examine the machine vision systems and components market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the machine vision systems and components market for a structured understanding.
•Key Players Overview: Analyze major players in the machine vision systems and components market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the machine vision systems and components market.
•Segment Contributions: Evaluate how different segments drive overall growth in the machine vision systems and components market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the machine vision systems and components market.
•Industry Challenges: Identify potential risks and obstacles affecting the machine vision systems and components market.
•Competitive Landscape: Review strategic developments in the machine vision systems and components market, including expansions, agreements, and new product launches.
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