The global machine vision market is expected to reach USD 19.22 billion by 2025,
according to a new report by Grand View Research, Inc. The ability of machine
vision systems to process a large amount of information in a fraction of
seconds is a major factor driving the market growth. The quick processing
ability of machine vision systems is paving the way for manufacturers to
achieve new milestones in manufacturing products with negligible defects.
Moreover, the increasing adoption of robots across industrial sectors is
leading toward the application of vision-guided robotic systems. Industrial
verticals, such as automotive, pharmaceutical, packaging, and food &
beverage, are prominent sectors where robotic systems are used, eventually
fueling the demand for machine vision systems.
The machine vision technology encompasses various components in order to
capture images of products to analyze them depending on different parameters of
quality and safety. The technology is a combination of software and hardware
that provides operational control to devices to execute functions such as capturing
and processing of images and measuring various characteristics required for
decision making. Major components of the system comprise lighting, lens, image
sensors, vision processing, and communication devices. Machine vision systems
assist in resolving complicated industrial tasks with reliability.
Industrial machine vision systems are usually more robust and demand
high reliability, stability, and accuracy as compared to those used in
institutional or educational applications. They cost lesser than systems used
in military, aerospace, defense, and government applications. These factors are
expected to lead to a greater adaptability of the technology in industrial
sectors. In addition, the robotic vision systems used across the industries are
also leading to the increasing adoption of the technology, thereby
strengthening the overall market.
The technology has proven to be of key importance in the area of
manufacturing and quality control, owing to the increasing need for quality
inspection and production. In addition, the growing automation in industrial
segments is also facilitating the growth of the market worldwide at a
considerable rate.
The technology has been witnessing extensive developments and innovative
upgrades since its emergence. Several factors, such as the growing inception of
the technology and increasing need for quality products, are influencing the
market growth. Furthermore, machine vision systems are gaining traction in the
medical and healthcare applications at a considerable pace. The analysis of
medical images and robotic applications for carrying various medical activities
are the key roles of the technology in these sectors.
The Asia Pacific region contributed to the largest market share in 2015,
which can be attributed to ample opportunities offered on account of large
manufacturing practices carried out in the region. Countries such as China,
Japan, South Korea, and India are considered to be potential markets for
upcoming technologies, including machine vision. The region’s huge industrial
expansion has been contributing to the prosperity and development of various
innovations and the adoption of different technologies significantly.
In addition, factors such as increasing focus on developments and
expenditures in vision-related research activities along with the growing
manufacturing base in the region are expected to spur the technology market
growth in Asia Pacific, in turn boosting the overall market at a notable pace.
The market is anticipated to exhibit the fastest growth of 10.4% over the
forecast period.
The industry is facing challenges due to lack of awareness among users
about the rapidly advancing machine vision technology. Moreover, the complexity
of integrating machine vision systems are the major difficulties being faced by
manufacturers, which is also restraining the smoother growth of the industry.
Full Research Report On machine vision market Analysis: https://www.grandviewresearch.com/industry-analysis/machine-vision-market
Further key findings from the report suggest:
·
The global machine vision technology market
was valued at USD 9.10 billion in 2016 and is projected to grow at a CAGR of
8.5% from 2017 to 2025.
·
The PC-based system segment accounted for
the largest market size in 2016 and is estimated to generate USD 10.48 billion
by 2025.
·
The identification application segment is
anticipated to exhibit the fastest growth rate over the forecast period
followed by positioning and guidance applications.
·
The European machine vision market is
estimated to attain USD 4.47 billion by 2025.
·
The industry is expected to witness a
substantial growth in the Asia Pacific region over the next decade. This growth
is witnessed in the wake of ample opportunities offered due to the presence of
large manufacturing hubs in prominent countries (across the food and packaging,
automotive, pharmaceutical, industrial, and consumer electronic sectors) such
as China and Japan. The regional market is expected to grow at a CAGR of 10.4%
from 2017 to 2025.
·
The prominent companies in the industry
include Allied Vision Technologies GmbH (Germany), Basler AG (Germany), Cognex
Corporation (U.S.), Keyence Corporation (Japan), National Instruments (U.S.),
Omron Corporation (Japan), Machine Vision Technology (UK), and Microscan
Systems (U.S.).
View More Reports
Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/technology
Grand View Research has segmented the global machine vision market based
on offering, products, applications, and regions:
Machine Vision
Offering Outlook (Revenue, USD Million; 2014 - 2025)
·
Hardware
·
Software
Machine Vision
Product Outlook (Revenue, USD Million; 2014 - 2025)
·
PC Based
·
Smart Camera Based
Machine Vision
Application Outlook (Revenue, USD Million; 2014 - 2025)
·
Quality Assurance and Inspection
·
Positioning and Guidance
·
Measurement
·
Identification
Machine Vision
Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o UK
o France
·
Asia Pacific
o China
o Japan
o India
·
South America
o Brazil
·
Middle East & Africa
View Press Release of this
research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-machine-vision-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
