Global Machine Vision Market

Global Machine Vision Market by Products (PC-based Vision System and Smart Camera-based Vision System), Offerings (Hardware, Software, and Services) Applications (Quality Assurance & Inspection, Positioning & Guidance, Measurement, Identification, and Predictive Maintenance) End-users (Automotive, Electronics and Semiconductor, Consumer Electronics, Glass, Metals, Wood and Paper, Pharmaceuticals, Food & Packaging, Rubber & Plastics, Printing, Machinery/Equipment, Solar Panel Manufacturing, and Textiles), Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), Forecast 2021-2028

  • Report ID: ICT-SE-3360
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 198
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The global machine vision market was valued USD 9.6 billion in 2020 and is estimated to expand at a CAGR of 6.1% during the forecast period, 2021-2028. Companies are experiencing significant cash flow problems due to the global lockdown and are deferring new projects linked to adoption of machine vision in their facilities. The ongoing COVID-19 pandemic has disrupted economies and supply chain, leading to the adoption of a global supply chain model by businesses across various industries. A number of manufacturing firms have suspended operations, causing collateral harm to the supply chain and a downturn in the machine vision industry. However, the relaxation in restrictions is estimated to fuel the market growth.

Global Machine Vision Market summary

Market Trends, Drivers, Restraints, and Opportunities

  • Growing requirement for quality inspection and automation in various industrial verticals is driving the market growth.
  • Increasing demand for application-oriented machine vision (MV) systems is anticipated to spur the growth of the market.
  • Rising technological adoption is expected to fuel the market growth during the forecast period.
  • Increasing requirement for quality inspection and automation following COVID-19 pandemic and the demand for automated quality assurance is estimated to drive the growth of the market.
  • Varying end users’ requirements as there are numerous industries to cover and specifications change based on unique client requirements, developing a standard machine vision system is challenging, which can negatively impact the market.
  • Growing demand for vision guided robotics system in the automotive and consumer electronics industries and the usage of industrial robots for automation are estimated to fuel the market growth.

Scope of the report:

The report on machine vision market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Global Machine Vision Market - Industry Analysis, Size, Share, Growth, Trends And Forecast

Base Year

2019

Historic Data

2017–2019

Forecast Period

2021–2028

Segmentation

Products (PC-based Vision System and Smart Camera-based Vision System), Offerings (Hardware, Software, and Services) Applications (Quality Assurance & Inspection, Positioning & Guidance, Measurement, Identification, and Predictive Maintenance) End-users (Automotive, Electronics and Semiconductor, Consumer Electronics, Glass, Metals, Wood and Paper, Pharmaceuticals, Food & Packaging, Rubber & Plastics, Printing, Machinery/Equipment, Solar Panel Manufacturing, and Textiles)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Cognex Corporation, Basler AG, Omron Corporation, Keyence, National Instruments, Sony Corporation, Teledyne Technologies, Texas Instruments, Intel Corporation, ISRA Vision, Sick AG, and FLIR Systems.

Machine Vision Market segmentation insights:

Smart camera-based machine vision segment to expand at a sustainable CAGR

Based on product types, the market can be bifurcated into PC-based vision system and smart camera-based vision system. The smart camera-based machine vision segment is estimated to grow at a sustainable rate during the forecast period. Smart camera-based machine vision systems are cost-effective, compact, and adaptable as it is easier to incorporate modifications in these systems based on new regulations and standards. Furthermore, with advancements in smart camera technology and IoT, which can be readily connect with smart cameras, the penetration of smart camera-based machine vision systems is estimated to grow rapidly in the coming years.

Global Machine Vision Market product types

Hardware segment to dominate the market

On the basis of offerings, the market can be divided into hardware, software, and services. The hardware segment held more than 60% of the market share and is estimated to dominate the market during the forecast period. The hardware segment consists of several objects such as cameras, frame grabbers, optics/lenses, and LED lightings and processors. Increasing demand for CMOS imaging sensors is anticipated to drive the growth of the segment.

In terms of applications, the market can be divided into quality assurance & inspection, positioning & guidance, measurement, identification, and predictive maintenance. The predictive maintenance segment is anticipated to expand at a high CAGR during the forecast period. Time-based preventative maintenance helps to reduce cost. The ultimate goal is to provide cost saving over scheduled preventative maintenance or unexpected reactive maintenance, which can cause machines to go unavailable during key period.

Global Machine Vision Market applications

Automotive segment to constitute a significant market share

Based on end-users, the market can be segregated into automotive, electronics and semiconductor, consumer electronics, glass, metals, wood and paper, pharmaceuticals, food & packaging, rubber & plastics, printing, machinery/equipment, solar panel manufacturing, and textiles. The automotive segment is projected to hold a significant market share during the forecast period. The machine vision system improves precision in key tasks such as bin selection and placement of parts for assembly, such as doors and panels, in the automobile industry. Automobile manufacturers are concentrating increasingly on automation in their production processes as a result of a scarcity of qualified employees and lower manufacturing costs.

Global Machine Vision Market end-users

Asia Pacific to account a major market share

On the basis of regions, the market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific held a large market share in the machine vision market. The large production facilities in China, Japan, India, and South Korea, where automation of industrial processes is a highest priority is estimated to drive the regional market growth. However, the outbreak of COVID-19 pandemic has significantly affected the manufacturing sector of Asia Pacific. On the other hand, the relaxation in restrictions is estimated to drive the market growth in region.

Global Machine Vision Market region

Segments

Segments Covered in the Report
By Product types

  • PC-based Vision System
  • Smart cameras-based vision system

By offerings

  • Hardware
  • Software
  • Services

By Applications

  • Quality Assurance & Inspection
  • Positioning & guidance
  • Measurement
  • Identification
  • Predictive maintenance

By End-users

  • Automotive
  • Electronics and semiconductor
  • Consumer Electronics
  • Glass
  • Metals
  • Wood and Paper
  • Pharmaceuticals
  • Food & Packaging
  • Rubber & Plastics
  • Printing
  • Machinery/Equipment
  • Solar Panel Manufacturing
  • Textile

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa.

By Key Players

  • Cognex Corporation
  • Basler AG
  • Omron Corporation
  • Keyence
  • National Instruments
  • Sony Corporation
  • Teledyne Technologies
  • Texas Instruments
  • Intel Corporation
  • ISRA Vision
  • Sick AG
  • FLIR Systems

 

Competitive Landscape

The key market players are Cognex Corporation, Basler AG, Omron Corporation, Keyence, National Instruments, Sony Corporation, Teledyne Technologies, Texas Instruments, Intel Corporation, ISRA Vision, Sick AG, and FLIR Systems. Cognex is the dominant player in the machine vision market in the US and globally. The company offers machine vision systems, software, sensors, surface inspection systems, and industrial ID readers for automation processes. In 2015, the company sold its Surface Inspection Systems Division (SISD) business to AMETEK, Inc., a global manufacturer of electronic instruments and electromechanical devices based in the US.

Global Machine Vision Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Machine Vision Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Machine Vision Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Machine Vision Market - Supply Chain
  4.5. Global Machine Vision Market Forecast
     4.5.1. Machine Vision Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Machine Vision Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Machine Vision Market Absolute $ Opportunity
5. Global Machine Vision Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Machine Vision Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Machine Vision Demand Share Forecast, 2019-2026
6. North America Machine Vision Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Machine Vision Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Machine Vision Demand Share Forecast, 2019-2026
7. Latin America Machine Vision Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Machine Vision Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Machine Vision Demand Share Forecast, 2019-2026
8. Europe Machine Vision Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Machine Vision Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Machine Vision Demand Share Forecast, 2019-2026
9. Asia Pacific Machine Vision Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Machine Vision Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Machine Vision Demand Share Forecast, 2019-2026
10. Middle East & Africa Machine Vision Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Machine Vision Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Machine Vision Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Machine Vision Market: Market Share Analysis
  11.2. Machine Vision Distributors and Customers
  11.3. Machine Vision Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Cognex Corporation
     11.4.2. Basler AG
     11.4.3. Omron Corporation
     11.4.4. Keyence
     11.4.5. National Instruments
     11.4.6. Sony Corporation
     11.4.7. Teledyne Technologies
     11.4.8. Texas Instruments&l

Segments Covered in the Report
By Product types

  • PC-based Vision System
  • Smart cameras-based vision system

By offerings

  • Hardware
  • Software
  • Services

By Applications

  • Quality Assurance & Inspection
  • Positioning & guidance
  • Measurement
  • Identification
  • Predictive maintenance

By End-users

  • Automotive
  • Electronics and semiconductor
  • Consumer Electronics
  • Glass
  • Metals
  • Wood and Paper
  • Pharmaceuticals
  • Food & Packaging
  • Rubber & Plastics
  • Printing
  • Machinery/Equipment
  • Solar Panel Manufacturing
  • Textile

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa.

By Key Players

  • Cognex Corporation
  • Basler AG
  • Omron Corporation
  • Keyence
  • National Instruments
  • Sony Corporation
  • Teledyne Technologies
  • Texas Instruments
  • Intel Corporation
  • ISRA Vision
  • Sick AG
  • FLIR Systems

 

The key market players are Cognex Corporation, Basler AG, Omron Corporation, Keyence, National Instruments, Sony Corporation, Teledyne Technologies, Texas Instruments, Intel Corporation, ISRA Vision, Sick AG, and FLIR Systems. Cognex is the dominant player in the machine vision market in the US and globally. The company offers machine vision systems, software, sensors, surface inspection systems, and industrial ID readers for automation processes. In 2015, the company sold its Surface Inspection Systems Division (SISD) business to AMETEK, Inc., a global manufacturer of electronic instruments and electromechanical devices based in the US.

Global Machine Vision Market keyplayers

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