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.
In depth research report on 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.).
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
·
U.S.
·
Canada
·
Mexico
·
Europe
·
Germany
·
UK
·
France
·
Asia Pacific
·
China
·
Japan
·
India
·
South America
·
Brazil
·
Middle East & Africa
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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, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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