According to the latest report by IMARC Group, titled “Machine Vision Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the machine vision market research. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global machine vision market size reached US$ 12.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 19.7 Billion by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.

Machine Vision Market Overview:

Machine vision, also known as industrial vision, refers to a technologically advanced substitute for human visual sense and judgment capabilities for observing different machinery processes. It employs digital cameras, analog-to-digital conversion, digital signal consumer electronics, and image processing to automatically extract and analyze information from digital images. Machine vision complements manual assessments and enables automatic inspection, quality control, robotic guidance, and process control in various industrial applications. It can also inspect hundreds or even thousands of parts per minute and provides more consistent and reliable inspection results. Apart from this, machine vision improves productivity, increases production flexibility, lowers production capital, reduces floor space, and cuts capital equipment costs. As a result, it is extensively employed by manufacturers to automate their repetitive production tasks and enhance speed and product quality.

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Top Companies In Global Machine Vision Market:

  • Cognex Corporation
  • Basler AG
  • Omron Corporation
  • National Instruments Corporation
  • Keyence Corporation
  • Sony Corporation
  • Teledyne Technologies, Inc.
  • Texas Instruments, Inc
  • Allied Vision Technologies GmbH
  • Intel Corporation
  • Baumer Optronic GmbH
  • Jai A/S.

Global Machine Vision Market Trends:

The advent of the fourth industrial revolution (Industry 4.0) and the industrial internet of things (IIoT) have impelled significant advancements in productivity, manufacturing flexibility, and product quality that help eliminate waste and lower operational costs. This, in turn, is primarily driving the machine vision market growth. In addition to this, the growing demand for better quality control by consumers and manufacturers, combined with the implementation of stringent government regulations stipulating certain product specifications and standards, is favoring the market growth. Concurrently, the widespread product adoption due to its ability to observe, detect, and examine difficult and unreliable situations that might be challenging for manual inspection during the various production processes is positively influencing the market growth. Moreover, expanding miniaturization of electronic devices is propelling the need for an advanced system that can effortlessly inspect object details that might be too complex and small to be viewed by the human eye, which is contributing to the market growth.

Furthermore, the introduction of three-dimension (3D) machine vision, which allows precise measurement and inspection of complex 3D free-formed surfaces, is aiding in market expansion. Besides this, the large-scale employment of vision-guided robotic systems across the automotive, food and beverage (F&B), pharmaceutical, chemical, and packaging sectors are presenting remunerative opportunities for market growth.

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Key Market Segmentation:

Breakup by Product:

  • Vision Systems
  • Cameras
  • Others

Breakup by Component:

  • Hardware
  • Software

Breakup by Application:

  • Positioning
  • Identification
  • Verification
  • Measurement
  • Flaw Detection
  • Others

Breakup by Industry:

  • Electronics and Semiconductor
  • Automotive
  • Medical and Pharmaceutical
  • Food, Packaging and Printing
  • Security and Surveillance
  • Intelligent Traffic System
  • Others

Breakup by Region:

  • North America (United States, Canada)

  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)

  • Latin America (Brazil, Mexico, Others)

  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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