The global machine vision systems market accounted for US$ 9.11 Bn in 2018 and is expected to grow at a CAGR of 7.5% during the forecast period 2019 – 2027, to reach US$ 17.57 Bn by 2027.
With the increasing adoption of machine vision systems in various industrial verticals for production automation, the demand for machine vision technology is likely to increase in the coming years. The machine vision systems help in identifying defects that are difficult to inspect and visualize by humans. The functions performed by machine vision systems include surface defects, missing features, assembly errors, and detection of damaged parts. Machine vision also helps in aligning the parts for high accuracy in assembly operations.
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Global Machine Vision Systems Market – Company Profiles
- Basler AG
- Cognex Corporation
- Datalogic S.p.A
- FLIR Systems, Inc.
- IDS Imaging Development Systems GmbH
- ISRA VISION AG
- Keyence Corporation
- OmniVision Technologies, Inc.
- Omron Microscan Systems, Inc.
- Teledyne Technologies Incorporated
Machine Vision Systems Market Insights
Government initiatives worldwide to support the growth of the manufacturing sector
For sustainable economic development, various countries worldwide are focusing on increasing industrialization, especially in the manufacturing and process industry sectors. The fast-evolving technology landscape in the manufacturing and process industries worldwide has also been encouraging the manufacturing companies to invest in advanced systems and processes, which can help achieve high operational efficiencies and also enable companies to meet challenging demands of today’s customers. The present century is characterized by tough competition in all major industry verticals.
Growing demand for high-quality product inspection, a critical driving factor for the market
Machine vision systems have become an integral part of industrial automation to achieve higher precision and quality assurance. The intense need for high-quality product inspection is anticipated to foster the demand for machine vision systems and services globally. Increasing the requirement for high production output in the manufacturing industry is expected to remain a prominent driver for increased demand in machine vision technology. Industrial applications demand higher productivity and throughput to increase the efficiency of production units.
Type Segment Insights
On the basis of type, the global machine vision systems market is bifurcated into smart machine vision systems, PC-based vision systems, and 3D machine vision systems. PC-based machine vision systems are faster than smart machine vision systems and also, PC-based vision systems are upgradable and can have comparatively many customizable and alternative parts and swap them. This versatility makes a PC-based vision system highly customizable since it can have newer or more application-specific hardware installed to specialize on a certain task or have its general range of functions expanded.
Component Segment Insights
Machine vision systems are characterized by these components and they allow different levels of customization with respect to applications. Analog cameras and digital cameras will observe a declining trend of growth as the introduction of smart cameras has cloned the market for analog and digital cameras. On the basis of component, the global machine vision systems market is segmented into cameras, frame grabbers, processors, illuminations & optics, vision software, vision sensors, and others.
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Table of Content:
- Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Machine Vision Systems Market – By Type
1.3.2 Global Machine Vision Systems Market – By Component
1.3.3 Global Machine Vision Systems Market – By Interface
1.3.4 Global Machine Vision Systems Market – By End-User
1.3.5 Global Machine Vision Systems Market – By Geography
- Key Takeaways
- Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
- Machine Vision Systems Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe – PEST Analysis
4.2.3 Asia-Pacific – PEST Analysis
4.2.4 Middle East & Africa – PEST Analysis
4.2.5 South America– PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
- Machine Vision Systems Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Government initiatives worldwide to support the growth of manufacturing sector
5.1.2 Growing demand for high-quality product inspection and high production output in manufacturing industry
5.1.3 Increasing demand for cost-effective vision inspection technology
5.2 Key Market Restraints
5.2.1 High labor costs may restrain the growth
5.2.2 Complicated end-user requirements and lack of standardization
5.3 Key Market Opportunities
5.3.1 Emergence of Industrial IoT (IIoT)
5.3.2 Growing trend of factory automation across the world
5.4 Future Trends
5.4.1 Rising technologies and trends in the machine vision market
5.4.2 Adoption of machine vision in non-industrial sector
5.4.3 Stringent regulations in pharmaceutical industry
5.5 Impact Analysis of Drivers and Restraints
Continue…..
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