Growing Non Industrial Application will escalate the Machine Vision Systems Market at a CAGR of 7.0% to 2025
The global machine vision systems market for the end-user industries is fragmented into Automotive, Consumer Electronics, Food & Beverage, Pharmaceuticals, Logistics and Others. The segmentation is based upon need for machine vision systems to improve mobility and security.
Consumer electronics in the machine vision systems market acquires the majority share, followed by automotive and food & beverages. Short product lifecycles of the consumer electronics products, high quality standards requirements by consumers and high labor investments have resulted in the increasing adoptions of machine visions systems by consumer electronics manufacturers worldwide.
Emergence of industrial Internet of things and novel technologies like CoaXPress are some of the trends contributing to the growth of machine vision systems market. Almost all the industry verticals are increasingly demanding in this market.
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Machine Vision Systems are the next generation intelligent systems mainly used in industrial applications for detection, identification, measurement, inspection and so on. Recently ISRA Vision AG, one of the leading competitors in the market launched a new solution that performs the optical inspection of plastic films that is used in various end-user purposes.
Detecting defects, optimizing processes, increasing yield-optical inspections are some of the functions of the solution. Such developments in the market are anticipated to further fuel the growth of machine vision systems in the years to come.
Some of the leading machine vision systems market players are Basler AG, Cognex Corporation, Keyence Corporation, Omron Corporation and National Instruments. OmniVision, DataLogic, and Microscan Systems among others.
Key trend which will predominantly impacts the market in coming year is emergence of Industrial IoT (IIoT) or Industry 4.0. IIoT connects information technology with production technology, hence involving widespread analytics and data capture to frequently optimize the processes of factories.
Machine vision is one of the most critical and basic technologies to provide IIoT with information. Manufacturing’s rapid amendment of IIoT has led to a renaissance in robotics and the renewed need for machine vision.
Moreover, the conventional manufacturing systems are anticipated to renovate owing to the implementation of smart IoT technologies throughout the manufacturing operations. investments in machine vision systems are known to perfectly fit in the vision of future manufacturing for automated inspection and quality management application.
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