According to the report, the global machine vision market was USD 818 million in 2018 and is expected to reach approximately USD 1,408 million by 2025, growing at a CAGR of around 7% between 2019 and 2025.
New York, NY, Sept. 10, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Machine Vision Market By Component (FPGA, Microcontroller, Processor, Microprocessor, Deep Learning, LED Lighting, Optics, Frame Grabber, Application Specific, DSP, and Others), By Product (Smart Camera-Based and PC-Based), By Application (Recognition, Positioning & Guidance, Identification, Measurement, Quality Control & Inspection, and Others), By Camera (Interface Standards, Frame Rate, Format, Sensor Type, and Others), By Industrial Vertical (Consumer Electronics, Pharmaceutical, Printing, Solar Panel Manufacturing, Machinery, Electronics & Semiconductor, Automotive, Wood & Paper, Rubber & Plastics, Metals, Food & Packaging, Glass, and Others), and By Non-Industrial Vertical (Postal & Logistics, Security & Surveillance, Autonomous Cars, Healthcare & Medical Imaging, The Intelligent Transportation System, Agriculture, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global machine vision market was USD 818 million in 2018 and is expected to reach approximately USD 1,408 million by 2025, growing at a CAGR of around 7% between 2019 and 2025.
Machine vision is the technology that delivers automatic scrutiny and review based on imageries for numerous applications, such as automatic inspection, process control, and robot guidance.
Browse through 105 Tables & 62 Figures spread over 110 Pages and in-depth TOC on “Global Machine Vision Market Size & Share 2018 Report: By Type, Growth, Industry Applications, Trends, Analysis and Forecast to 2025”.
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The machine vision market is likely to show notable growth over the forecast time period, owing to the growing demand from various industries for machine vision devices. In addition, the use of cutting-edge technology in the advancement of machine vision devices is also enhancing the machine vision market growth. However, the high price for upkeep costs of machine vision gadgets along with the huge price of conveyance and fluctuation in raw material prices may hinder the machine vision market growth.
The global market for machine vision is divided on the basis of component, product, application, camera, industrial vertical, and non-industrial vertical. Based on the component, the machine vision market includes microprocessor, FPGA, microcontroller, LED lighting, deep learning, DSP, optics, processor, application specific, frame grabber, and others. By product, the market includes PC-based and smart camera-based machine vision systems. The PC-based machine vision system was a prominent segment in 2018, due to the growing acceptance of 3D imaging. Smart cameras are also proficient in the interpretation of labels and guiding products spontaneously without any human participation. Reduced human interference leads to fewer errors and amplified accurateness while checking labels and tags.
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By application, the market is classified into recognition, quality control and inspection, identification, measurement, positioning and guidance, and others. The technology is widely used for scanning and recognizing barcodes, labels, and texts, particularly in the packaging industry. This computerizes packaging activities, avoids human errors, saves time, and increases efficiency.
By camera, the market comprises frame rate, sensor type, format, interface standards, and others. Based on industrial vertical, the global market includes consumer electronics, pharmaceutical, glass, printing, wood and paper, solar panel manufacturing, machinery, electronics and semiconductor, automotive, rubber and plastics, metals, food and packaging, and others. The food and beverage industry is anticipated to display the notable growth over the forecast years, due to the use of machine vision systems in bottling and packaging operations.
Browse the full “Machine Vision Market By Component (FPGA, Microcontroller, Processor, Microprocessor, Deep Learning, LED Lighting, Optics, Frame Grabber, Application Specific, DSP, and Others), By Product (Smart Camera-Based and PC-Based), By Application (Recognition, Positioning & Guidance, Identification, Measurement, Quality Control & Inspection, and Others), By Camera (Interface Standards, Frame Rate, Format, Sensor Type, and Others), By Industrial Vertical (Consumer Electronics, Pharmaceutical, Printing, Solar Panel Manufacturing, Machinery, Electronics & Semiconductor, Automotive, Wood & Paper, Rubber & Plastics, Metals, Food & Packaging, Glass, and Others), and By Non-Industrial Vertical (Postal & Logistics, Security & Surveillance, Autonomous Cars, Healthcare & Medical Imaging, The Intelligent Transportation System, Agriculture, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/machine-vision-market
The non-industrial vertical segment consists of the intelligent transportation system, security, and surveillance, autonomous cars, healthcare, and medical imaging, agriculture, postal and logistics, and others. The healthcare and medical imaging segment is gaining traction in the machine vision market, as these devices are used to examine medical images and robotic applications for performing numerous medical activities.
The North American machine vision market is expected to gain noteworthy share globally over the forecast time period, owing to the growing industries with robust technology and rising adoption of technologies in this region. Most of the top industries thriving in the U.S. and Canada are agriculture, technology, mining, automobile, and manufacturing, which ultimately raise the demand for machine vision systems across entire North America, which fuels this regional market.
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Europe is projected to be the second-largest region in terms of value in the global machine vision market over the forecasted time period, owing to the increasing product demand from healthcare and automotive sectors. The rising use of 3D sensors and arrival of multispectral imaging solutions have opened a broad range of applications in surveillance, traffic, and entertainment. Construction of flat-paneled displays due to altering consumer inclinations for home entertainment is another important factor driving the machine vision market in Europe.
The Asia Pacific is projected to attain significant growth rate between 2019 and 2025 in the global machine vision market. Countries like China and India are the major markets for machine vision, due to their rapid rate of economic growth. The rising production of semiconductor chips in China combined with the thriving industry in Japan, Taiwan, and South Korea is also fuelling this regional market.
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Latin American and the Middle Eastern and African machine vision market are likely to contribute comparatively less value share globally over the forecast time period. This can be attributed to growing efforts related to the development and expansion of the manufacturing base in these regions by the governments.
Some key players operating in the machine vision market across the globe are National Instruments, Basler, Teledyne Technologies, JAI, BaumerOptronic, Omron, Cognex, Sony, Texas Instruments, Keyence, Intel, and Allied Vision Technologies.
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This report segments the global machine vision market into:
Global Machine Vision Market: Component Analysis
- LED Lighting
- Frame Grabber
- Application Specific
- Deep Learning
Global Machine Vision Market: Product Analysis
- Smart Camera-Based
Global Machine Vision Market: Application Analysis
- Positioning and Guidance
- Quality Control and Inspection
Global Machine Vision Market: Camera Analysis
- Interface Standards
- Sensor Type
- Frame Rate
Global Machine Vision Market: Industrial Vertical Analysis
- Consumer Electronics
- Electronics and Semiconductor
- Wood and Paper
- Rubber and Plastics
- Food and Packaging
- Solar Panel Manufacturing
Global Machine Vision Market: Non-Industrial Vertical Analysis
- Postal and Logistics
- Healthcare and Medical Imaging
- Security and Surveillance
- Intelligent Transportation System (ITS)
- Autonomous Cars
Global Machine Vision Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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