Machine Vision Market Outlook: Growth Trends and Forecast by 2024

The global machine vision market size was valued at USD 9.01 billion in 2022 and is projected to grow from USD 9.68 billion in 2023 to USD 16.82 billion by 2030, exhibiting a CAGR of 8.2% during the forecast period of 2023-2030. The North America dominated the machine vision market with a share of 38.62% in 2022.

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Industry developments of machine vision market:

• German innovator in lighting technology SAC Sirius Advanced Cybernetics GmbH (“SAC”) has been acquired by Cognex. The acquisition broadens Cognex’s reach into sectors like automotive and consumer electronics that produce products quickly and with little tolerance for failures that endanger safety.
• To support the NVIDIA® Jetson OrinTM Nano system-on-modules (SOMs), which have raised the bar for entry-level edge Artificial Intelligence (AI) and robotics, Basler introduced add-on camera kits with 5 and 13 MP.
• The 2-megapixel Optimom from Teledyne e2v is a collection of turnkey optical modules that can be “instantly” integrated into embedded-vision systems. It has a compact board, an FPC connector that is widely used in the industry, an integrated low-noise global shutter image sensor from Teledyne e2v, and supplemental lenses.
• The innovative “VT-S10 Series” PCB inspection system has been released by OMRON Corporation. With the help of this system, high-precision inspection of electronic substrates is automated without the need for specialized knowledge.
• Cognex unveiled its newest line of portable barcode scanners, the DataMan 8700 Series, which is based on a brand-new technology platform. The apparatus offers state-of-the-art performance and is incredibly easy to use, requiring no prior tuning or operator training.

Top Companies of machine vision market:

• Cognex Corporation (U.S.)
• Basler AG (Germany)
• Omron Corporation (Japan)
• Keyence (Japan)
• National Instruments (U.S.)
• Sony Corporation (Japan)
• Teledyne Technologies (U.S.)
• Texas Instruments (U.S.)
• Intel Corporation (U.S.)
• ViDi Systems SA (Switzerland)

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Machine Vision Market Segmentation

Machine Vision Market Share, Size & COVID-19 Impact Analysis, By Type (1-D Vision System, 2-D Vision System, and 3-D Vision System), By System (PC based, Smart Camera, and Others), By Industry (Semiconductor, Healthcare, Automotive, Manufacturing, and Others), and Regional Forecast Between, 2023-2030

Reasons to buy this report:

The present state of the market, trends, growth areas, and competitive dynamics in the machine vision market are all thoroughly examined in this report. It helps companies to see areas for expansion and improvement while pointing out possible difficulties and dangers. The report’s evaluation of product portfolios and business segments helps stakeholders make better-informed investments and market strategies.

Developing successful success strategies in the machine vision market can be facilitated and decision-making greatly enhanced by having a solid understanding of the industry dynamics described in the report. All things considered, this report is a great resource for anyone looking for in-depth knowledge about this quickly evolving industry.

Regional Atributes:

• North America (By Type, System, Industry and Country)
  • U.S. (By System)
  • Canada (By System)
  • Mexico (By System)
• Europe (By Type, System, Industry and Country)
  • U.K. (By System)
  • Germany (By System)
  • France (By System)
  • Italy (By System)
  • Spain (By System)
  • Russia (By System)
  • Benelux (By System)
  • Nordics (By System)
  • Rest of Europe
• Asia Pacific (By Type, System, Industry and Country)
  • China (By System)
  • India (By System)
  • Japan (By System)
  • South Korea (By System)
  • ASEAN (By System)
  • Oceania (By System)
  • Rest of Asia Pacific
• The Middle East & Africa (By Type, System, Industry and Country)
  • South Africa (By System)
  • North Africa (By System)
  • GCC (By System)
  • Israel (By System)
  • Turkey (By System)
  • Rest of the Middle East & Africa
• South America (By Type, System, Industry and Country)
  • Brazil (By System)
  • Argentina (By System)
  • Rest of Latin America

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Machine Vision Market Drivers and restrains:

• Driver: Advancements in Artificial Intelligence and Machine LearningThe integration of AI and machine learning technologies enhances the capabilities of machine vision systems, improving accuracy, efficiency, and application versatility.
• Driver: Increasing Automation in ManufacturingThe push towards automation in manufacturing processes drives demand for machine vision systems, which are crucial for quality control, defect detection, and process optimization.
• Driver: Rising Demand for Quality and SafetyGrowing consumer expectations for high-quality and safe products lead to increased adoption of machine vision systems for rigorous inspection and quality assurance across various industries.
• Restraint: High Initial CostsThe high cost of advanced machine vision systems, including hardware and software components, can be a significant barrier for small and medium-sized enterprises looking to invest in these technologies.
• Restraint: Complexity of IntegrationIntegrating machine vision systems into existing manufacturing processes or IT infrastructures can be complex and require specialized expertise, potentially leading to increased implementation time and costs.

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