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Steady Expansion Forecast for Industrial Machine Vision Camera Market, Projected to Reach $23.24 Billion by 2029
Industrial Machine Vision Camera
Industrial Machine Vision Camera Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for industrial machine vision cameras has experienced significant growth of late. The market value is expected to escalate from $11.63 billion in 2024 to $13.33 billion by 2025, with a 14.7% Compound Annual Growth Rate (CAGR). The previous expansion can be attributed to factors such as manufacturing automation, regulation of quality control, minimization of cost and amplified efficiency, an increase in applications, and the emergence of industry 40.
Industrial Machine Vision Camera Market Size Forecast: What's the Projected Valuation by 2029?
The market size of the industrial machine vision camera is predicted to undergo swift growth in the coming years, expanding to a value of $23.24 billion in 2029 at a compounded annual growth rate (CAGR) of 14.9%. Factors fueling this growth during the projected period include the development of robotic automation, IoT integration, emphasis on edge computing, tailored and integrated services, along with regulatory compliance and standards. Key trends during this period are expected to be the increased demand for 3D vision technology, the integration of AI and machine learning, advancements in imaging technologies, and the adoption of high-resolution imaging and 3D vision technology.
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What Are the Drivers Transforming the Industrial Machine Vision Camera Market?
The anticipated growth of the industrial machine vision camera market is set to be fueled by the increasing adoption of industrial robots. Industrial robots are mechanically designed devices that perform production-related tasks autonomously in industrial environments. These robots use an industrial machine vision camera to adapt to environmental obstacles and deliver effective results. For example, data from the International Federation of Robotics, a German-based robotics research entity, revealed that in 2023, global factories installed 553,052 industrial robots in 2022, marking a 5% increase compared to the previous year. Consequently, this rising trend in the usage of industrial robots is triggering the growth of the industrial machine vision camera market.
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What Long-Term Trends Will Define the Future of the Industrial Machine Vision Camera Market?
The rise of technological innovation is a prominent trend witnessed in the industrial machine vision camera market. Firms in the industrial machine vision camera market are embracing fresh technology to maintain their market presence. For example, in July 2022, Nikon Corporation, a Japan-based firm known for its consumer and professional digital cameras, unveiled 'LuFact', an ultra-compact machine vision camera. The LuFact camera is ingeniously designed with a separate camera head capable of capturing interface conversion units and processing images. Implemented with image processing technology, it has the capability to help decrease heating in existing machines and production lines thanks to the separate installation of the camera head and I/F conversion unit.
Which Segments in the Industrial Machine Vision Camera Market Offer the Most Profit Potential?
The industrial machine vision cameramarket covered in this report is segmented -
1) By Component: Hardware, Software
2) By Product Type: Line Scan Camera, Area Scan Camera
3) By Applications: Manufacturing, Medical And Life Sciences, Security And Surveillance, Intelligent Transportation System, Other Applications
Subsegments:
1) By Hardware: Cameras, Lenses, Lighting Systems, Frame Grabbers, Industrial Computing Devices
2) By Software: Image Processing Software, Machine Vision Software Development Kits (SDKs), Analytical Software, Deep Learning Software, Inspection and Quality Control Software
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Which Firms Dominate the Industrial Machine Vision Camera Market by Market Share and Revenue in 2025?
Major companies operating in the industrial machine vision camera market include Teledyne Technologies Incorporated, Cognex Corporation, TKH GROUP, Basler AG, IDS Imaging Development Systems GmbH, Toshiba Corporation, OMRON Corporation, Baumer Holding AG, Sony Group Corporation, Vieworks Co. Ltd., China Daheng Group Inc., Hangzhou Hikvision Digital Technology Co. Ltd., KEYENCE CORPORATION, Adimec Advanced Image Systems BV, Hikrobot Co. Ltd., LMI Technologies Inc., National Instruments Corporation, Allied Vision Technologies GmbH, SICK AG, Microscan Systems Inc., Tordivel AS, Panasonic Corporation, Matrox Electronic Systems Ltd., Stemmer Imaging Ltd., Datalogic S.p.A., Hermary Opto Electronics Inc., ISRA VISION AG, Pixelink, Tattile S.r.l., Vitronic Machine Vision Ltd.
Which Regions Offer the Highest Growth Potential in the Industrial Machine Vision Camera Market?
North America was the largest region in the industrial machine vision camera market in 2024. The regions covered in the industrial machine vision camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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