Press release
Machine Vision Software Market Size Projected To Reach $4.26 Billion By 2034 With A Cagr Of 19.4%
Machine Vision Software
What Is the Expected Machine Vision Software Market Size During the Forecast Period?
In recent times, there has been a significant acceleration in the growth of the machine vision software market. The market, valued at $1.76 billion in 2024, is expected to increase to $2.1 billion in 2025, representing a compound annual growth rate (CAGR) of 19.0%. The increasing need for quality inspection in manufacturing, the rising popularity of machine vision across various sectors, its vast benefits in numerous applications, and its use in inventory management and customer analytics in both e-commerce and retail, contribute to this growth. However, the market growth has been moderate due to the pandemic.
Over the coming years, the market size for machine vision software is predicted to experience a swift expansion. The growth is projected to reach $4.26 billion by 2029, with a compound annual growth rate (CAGR) of 19.4%. This surge over the forecast period is largely attributed to the escalating automation in manufacturing processes, surge in demand for quality inspection, improvements in product quality, automation of complex and monotonous visual inspection tasks, and increased utilization of industry 4.0 technologies. Key trends forecasted during this period include technological advancements, the integration of machine vision into robotics for industrial automation, the application of industry 4.0 technologies in manufacturing, strategic partnerships and collaboration with industry newcomers, and broadening the scope of machine vision applications.
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What Are the High-Growth Segments in 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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What Key Drivers Are Expected to Influence Future Machine Vision Software Market Growth?
The machine vision software market is anticipated to expand due to the rising necessity for quality inspection. Such inspections entail a methodical review and evaluation of products or procedures to adhere to predetermined codes and specifications, assuring uniformity, trustworthiness, and fulfillment with regulatory norms. The use of machine vision software revolutionizes quality inspection by offering automated and exact analysis of products or procedures through image processing and pattern recognition algorithms. This allows for quicker and more precise identification of faults or discrepancies, consequently enhancing quality control measures, reducing mistakes and ensuring higher product quality standards across numerous sectors. For instance, the International Federation of Robotics, a proficient non-profit organization based in Germany, reported in September 2024 that the UK saw a plummeting record high in industrial robots sales in 2023, with installations of 3,830 units. This constitutes a remarkable rise of 51% contrasted to the previous year. Therefore, the escalating need for quality inspection spurs the growth of the machine vision software market.
Which Companies Hold the Largest Share Across Different Machine Vision Software Market Segments?
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 Trends Are Driving Growth in The Machine Vision Software Market?
Leading businesses in the machine vision software market are focusing on pioneering technologies, such as fixed-mount barcode reader technology. This technology pertains to scanning devices permanently situated at a static location such as a conveyor belt or a checkout counter. For example, in February 2022, the American manufacturer of machine vision systems, software, and sensors, Cognex Corporation, introduced the DataMan 280 Series Fixed-Mount Barcode. This device was created to manage a broad range of ID applications, including 1D, 2D, and Direct Part Mark (DPM) code applications in the industrial and logistics sectors. The DataMan 280 is equipped with dynamic image generation technology and a high-resolution sensor to improve code processing and coverage. This technology enhances throughput and overall equipment effectiveness (OEE) while facilitating the accurate reading of intricate barcodes. Furthermore, it offers connectivity options suitable for the current Industry 4.0 manufacturing requirements. The DataMan 280 is ideal for presentation scanning, bottle and package reading, pallet scanning, and reading codes on automobile parts and medical devices. Supported with Cognex Edge Intelligence (EI), it provides advanced Industry 4.0 features including an easy-to-use web browser connectivity, device management, and performance monitoring.
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What Are the Emerging Geographies for The Machine Vision Software Market Growth?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Machine Vision Software Market?
2. What is the CAGR expected in the Machine Vision Software Market?
3. What Are the Key Innovations Transforming the Machine Vision Software Industry?
4. Which Region Is Leading the Machine Vision Software Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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