Press release
Machine Vision Market to Reach USD 20.3 B by 2030 with 7.0% CAGR
Machine Vision System Market
The global Machine Vision System market, valued at approximately USD 11.7 billion in 2023, is projected to grow at a steady CAGR of 7.0%, reaching USD 20.30 billion by 2030 . Fueled by surging investments in smart camera R&D, increasing industrial automation, and growing demand across electronics, automotive, food & beverage, and healthcare sectors, the market is entering a period of strategic expansion.
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◉ Market Trends & Drivers
2023 market size: ~USD 11.7 B; 2030 forecast: USD 20.30 B (2024-2030 CAGR 7.0%)
Asia‐Pacific leads the way, generating about 41-43% of global revenues, thanks to rapid expansion in automotive, electronics, pharmaceuticals, and packaging industries . Europe also contributes significantly, with combined Asia‐Pacific and Europe accounting for ~80% of revenues
Hardware makes up ~61% of offerings, and smart‐camera systems-powered by CMOS image sensors-are expected to grow at ~8.0% CAGR
Top usage vertical: Automotive dominates, with machine vision deployed for error-proofing, assembly verification, quality inspection, and robotic guidance (~57% share)
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◉ Competitive Landscape
Market leaders include Cognex, Keyence, Teledyne Technologies, Basler, FLIR Systems, Omron, Sony, Intel, and National Instruments . They are focusing on expanding software-driven, AI-enabled offerings and forging partnerships for integrated manufacturing solutions.
◉ Higher Demand in Which Region
Asia‐Pacific remains the fastest-growing and highest-volume region (~41% market share)
North America follows closely, with double-digit CAGR (~12%) driven by increased automation, especially in automotive and aerospace industries
◉ Country-Level Trends & Developments
Opportunity Growth in Vietnam
Vietnam is witnessing fast adoption of machine vision in electronics and agricultural equipment inspection through low-cost smart cameras tailored for local manufacturers.
Trends in Thailand
Thailand's food and packaging sectors are deploying vision systems for compliance and efficiency. Collaborations with Basler and Keyence enable customized imaging solutions.
Consolidation Growth in Japan
Japan's automotive and semiconductor industries rely on advanced inspection systems. Domestic integrators are partnering with Cognex and Teledyne to co-develop high-precision, AI-enhanced solutions.
Updation in South Korea
South Korea upgrades to 3D vision in smart factories and chip fabs, integrating Omron and Sony vision modules with robotics automation.
Benchmarking Innovation in Singapore
Singapore serves as a testbed for Industry 4.0, using vision systems in healthcare, logistics, and port automation, thanks to pilot programs with Intel and Basler.
Consolidation Trends in United States
The U.S. market consolidates through vertical integration: Cognex, Keyence, and FLIR deepen software-to-robot partnerships. Vision + AI platforms are gaining traction in manufacturing.
Growth in China
China is rapidly scaling up machine vision in electronics, automotive, and e-commerce logistics. Local OEMs are collaborating with global players and building smart camera facilities.
Compliance & Opportunity in Europe
Europe's transition to smart manufacturing under initiatives like "Industry 4.0" demands vision systems in pharmaceuticals, food & beverage, and aerospace-leading to partnerships involving Basler, Sony, and FLIR.
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◉ Machine Vision System Market Segment Analysis:
by Component
Smart Camera
Embedded System
Frame Grabber
Lighting
Lenses
by Type
1D Measurement
2D Measurement
3D Measurement
by Application
Positioning
Identification
Verification
Measurement
by Industry
Vertical Industrial
Healthcare
Electronics
Automotive
Others
◉ Mergers & Acquisitions Highlights
Teledyne's acquisition of PhotonFocus (2023) strengthens their smart camera lineup.
Cognex formed strategic partnerships with robotics software providers to embed vision in automated production cells.
Keyence expanded its inspection software suite through minor M&A, aiming to integrate deep learning capabilities.
◉ Key Recent Developments
Rise in AI-powered vision software for defect detection and predictive maintenance.
Growth in 3D machine vision for robotics and dimensional metrology in semiconductor fabs.
Adoption of vision-guided robotic technologies has surged across automotive and food processing lines.
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◉About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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