Machine Vision Market Size | Movements by Key Findings, Industry Impact, Latest Trend Analysis and Progression Status

The report presents a comprehensive overview of industry trends, growth share and the competitive landscape in 200 pages.

The most recent research study on the global “Machine Vision Market” [2023-2030] by Report Ocean provides a description of the segments and sub-segments. It offers a thorough examination of the sector, analyses historical data, forecasts the future, and aids in understanding the market situation, growth prospects, and difficulties.

The study also includes competitive information and profiles of well-known market competitors, facilitating marketing plans of action and strategic decision-making.

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Global Machine Vision Market is valued at approximately USD 13.23 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 7.7% over the forecast period 2022-2029.

Machine Vision is a technology based on automation that is it provides automatic inspection, quality control, defect detection and guidance. Machine vision technology is faster, works continuously and efficiently as compared to human inspectors. It more is more reliable and can inspect hundreds or thousands of parts at a single time. It is a complete solution with acquiring an image to connecting it with the management information system. Additionally, the growing industrial automation and rapid adoption of robots system is are fueling the market for Machine Vision Market.

The industrial automation market is growing rapidly with a CAGR of 9%, in 2025 the market size is expected to reach around USD 265 billion. The difficulties and unreliability in detecting the defects through a the human eye is are driving the market for Machine Vision Market. It is replacing the manual work due to its reliable and efficient results. The emerging demand of for robot system systems is playing a major role in creating market demand for Machine Vision Technology. The need for a robotic system providing vision guidance in several industries such as food, pharmaceuticals and chemicals is boosting the demand. The robotic market was expanding with a CAGR of 10% and is expected to reach nearly 70.6 Billion U.S. Dollars by 2028. According to Statista, in 2019 South Korea witnessed the installation of more than 850 robots per 10,000 workers in the production and manufacturing sector. Moreover, the increasing need for reliable quality inspection, and production and, continuous innovative developments and upgrades in machine vision technology are certain factors creating major market opportunities in the forecast period. is fueling the market demand. However, the high cost of Machine Vision stifles market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Machine Vision Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific dominated the market for Machine Vision with a CAGR of 40.0%. The growing adoption of this technology in industries such as automotive and pharmaceuticals is fueling the demand. The technologies are emerging at a faster pace as this region is the global manufacturing hub. Investments by the government of emerging countries and investment investments in R&D by major market players is are playing a major role. North America is anticipated to be the fastest-growing region due to the extensive use of Artificial intelligence (AI) and Machine Learning (ML) by the population. Strategic initiatives and investment investments by prominent players is are increasing the market demand.

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Major market players included in this report are:
Allied Vision Technologies GmbH
Basler AG
Cognex Corporation
Keyence Corporation
LMI Technologies, Inc.
Teledyne Technologies Inc Microscan Systems, Inc.
National Instruments Corporation
OMRON Corporation
Sick AG
Intel Corporation
Keyence Corporation

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 years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporatespotential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Offering offerings of key players.

The detailed segments and sub-segment of the market are explained below.

By Offering:
Hardware
Software
Services

By Product:
PC Based
Smart Camera Based

By Application:
Quality Assurance and Inspection
Positioning and Guidance
Measurement
Identification

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By End-use Industry:
Automotive
Pharmaceuticals & Chemicals
Electronics & Semiconductor
Pulp & Paper
Printing & Labeling
Food & Beverage
Glass & Metal
Postal & Logistics
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World