Global Machine Vision Market valued approximately USD 10.2 billion in 2017 is anticipated to grow with a healthy growth rate of more than 7.73% over the forecast period 2018-2025. The Machine Vision Market is continuously growing in global scenario over the coming years. The major driving factor of global Machine Vision market is growing use of vision-guided robotic systems and rising need for quality inspection & automation. In addition, increasing rate of adoption in the automotive sector and rising need to identify and combat counterfeit product are factors which exert a positive influence in the market of machine vision. However, lack of flexible solution and volatility in end-user requirements are some major factors which hamper the market growth of global machine vision market.
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Moreover, intensive training and education is an essential requirement to enable entry of machine vision in newer markets which is also restraining the market growth of market. Machine vision is the technology which is used to provide imaging-based automatic inspection and analysis for applications such as automatic inspections, process control and robot guidance, usually in industry. It encompasses a large number of technologies, software and hardware products, integrated systems, actions, methods and expertise. Machine vision systems assist in resolving complicated industrial tasks with reliability. Machine vision offers various benefit such as improved quality and productivity, prevents machine component damage, eliminates maintenance time, reduces costs associated with wear and tear of mechanical components, reduces human involvement in manufacturing process and protects human workers from hazardous environments. Furthermore, it can provide validation on alignment and orientation as well as provide tools for measurement and inspection. These benefits are also increasing demand of machine vision among end-users which is propelling the market growth.
The key regions considered for regional analysis of Global Machine Vision Market includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share in 2017 owing to increasing focus towards the automotive sector and presence of large number of contract manufacturers in the region. Europe is also estimated to project a major growth in the global Machine Vision market due to significant growth of electronics in the region. North America is also anticipated to exhibit higher growth rate/CAGR over the forecast period 2018-2025.
The major market player included in this report are:
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
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Quality Assurance & Inspection
Positioning & Guidance
Pharmaceutical & Chemicals
Electronics & Semiconductor
Pulp & Paper
Printing & Labelling
Food & beverage
Glass & Metal
Postal & Logistics
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
Target Audience of the Global Machine Vision Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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