Machine Vision System Market, Trends & Analysis - Forecasts To 2026
Machine Vision System Market Insights
The global machine vision system market is estimated to witness a high CAGR during the forecast period. Machine Vision System systems are used to process massive amounts of information in a few seconds. Machine Vision System systems are used for automatic analysis and inspection of the production line, verification, and also in process control, measurements, robot guidance, and other functions. Machine Vision System systems provide numerous benefits to manufacturing and logistics organizations such as reducing floor space, increasing productivity, increasing production flexibility, improving quality, lowering capital equipment costs.
Increasing adoption of robotic systems across industrial organizations for reducing human errors and to enhance productivity is driving the market for the machine vision system. Growing demand from the automotive, pharmaceuticals, packaging and food sectors is further fueling demand for machine vision systems. Machine Vision System systems provide safety and operational advantages by reducing manual involvement in the production process.
Machine Vision System Market: By Offering
The global Machine Vision System market can be segmented on the basis of offering into software and hardware. The software segment includes deep learning and application-specific software while the hardware segment includes LEDs, optics, processors, and cameras. The growing significance of AI-infused Machine Vision System software is anticipated to fuel the industrial Machine Vision System market. Capabilities of deep learning to provide real-time solutions to facilitate the detection of faults during the manufacturing process and aid the technology to gain popularity.
Machine Vision System Market: By Product
The global Machine Vision System can be segmented on the basis of product into PC based and smart camera based. The smart camera segment is expected to witness substantial growth and consumes high Machine Vision System market share during the forecast period, owing to its applications in 3D imaging. Smart cameras are also used for reading labels and directing products automatically without any human involvement. The PC based segment is anticipated to grow with significant CAGR rate during the forecast period.
Machine Vision System Market: By Application
The global Machine Vision System equipment market can be segmented on the basis of application into quality assurance and inspection, positioning and guidance, measurement, and identification. The Machine Vision System system technology is majorly used by packaging industries for scanning and identifying labels, barcodes, and texts. Growing demand from packaging industries is expected to drive application segment. Identification segment is expected to grow at a significant CAGR rate during the forecast period, owing to increase usage in machine imaging, monitoring traffic, recognizing number plates for security purpose in manufacturing industries.
Machine Vision System Market: By End-Use Industry
The global Machine Vision System equipment market can be segmented on the basis of end-use industry into automotive, pharmaceuticals & chemicals, electronics & semiconductor, pulp & paper, printing & labeling, food & beverages, glass & metal, postal & logistics, others. The automotive segment is leading end-use segment of Machine Vision System system market during the forecast period. The automotive industry is extensively uses for inspection activities like presence/absence checking; assemble verification and final inspection of products in manufacturing assembly line. Food & beverage industry is also expected to have prominent market share during the forecast period.
Machine Vision System Market: By Region
The global Machine Vision System market in terms of region is dominated by Asia Pacific region. Increasing use of innovation and low-cost cameras in APAC region will directly influence the adoption of Machine Vision System systems in the region. Adoption of new technologies in developing countries like Japan, China, and Indonesia are increasingly contributing to the growth of Machine Vision System systems market. Numerous manufacturing industries are contributing to the growth and prosperity of the region’s overall economic development.
Machine Vision System Market: End Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the outdoor power equipment market are Ford, Toyota, Suzuki, and GlaxoSmithkline among others.
Machine Vision System Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Machine Vision System Market: Share & Competitor Analysis
Some of the key players operating in the Machine Vision System market include Allied Vision Technologies GmbH, Basler AG, Cognex Corporation, Keyence Corporation, LMI Technologies, Inc., Microscan Systems Inc., National Instruments Corporation, OMRON Corporation, Sick AG, Tordivel AS, Aquifi, and Prophesee among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In December 2018, Omron Introduced VT-M121 with Industry's First 2D Dimension and Visual Inspection Machine that performs simultaneously dimension and visual inspection to detect scratches and cracks on products
In August 2017, Omron to acquired Microscan systems, US-based industrial code reader company which is in code scanning and decoding technology for industrial applications, and its business is expanding worldwide
In June 2018, LMI Technologies launched Gocator 2500 Smart, the next evolution in 3D scanning and inspection
The global machine vision system market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the machine vision system market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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