Machine Vision Market Research Report 2017 of 189 pages added by reports and reports explores Global Machine Vision Market Size, Share, Manufacturers, Statistics, and Opportunities Forecast to 2022. The global Machine Vision market is estimated to grow at a CAGR of 11.9% and reaching $14.43 billion between 2017 and 2022.
Machine vision is the use of devices for optical non-contact sensing to automatically receive and interpret an image of a real scene in order to obtain information and/or control machines or processes.
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Machine Vision Company Market Analyzed For: Cognex Corporation (U.S.), Basler AG (Germany), Omron Corporation (Japan), National Instruments Corporation (U.S.), Keyence Corporation (Japan), Sony Corporation (Japan), Teledyne Technologies, Inc. (U.S.), Texas Instruments, Inc. (U.S.), Allied Vision Technologies GmbH (Germany), Intel Corporation (U.S.), Baumer Optronic GmbH (Germany), and JAI A/S (Denmark).
The geographic analysis is done with regard to four major regions, namely, North America, Europe, APAC, and RoW (South America and Middle East and Africa).
The growth of this market is propelled by the rising need for quality inspection and automation across various industries. The increasing demand for vision-guided robotic systems and application-specific machine vision systems is facilitating the rapid growth of this market.
Increasing adoption of 3D machine vision systems is also contributing to the market growth.
“In the hardware component-based market, the camera segment is expected to hold the largest market size during the forecast period”
Smart and digital cameras are an important part of machine vision systems. Various features incorporated within these cameras would further improve the inspection and quality assurance of the objects under test.
Latest standards have also been introduced to make the cameras compatible with third-party software developers. Smart camera-based machine vision systems can accomplish the task of decoding algorithms and traceability applications such as ID code reading, quality assessment, text verification, and label inspection.
The industrial vertical is expected to hold the largest market share, while the market for then on industrial vertical is expected to grow at the highest rate during the forecast period.
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“Machine vision market in APAC is expected to grow at the highest rate during the forecast period”
APAC is expected to be the fastest-growing market. The market in APAC is segmented into India, China, Japan, South Korea, and Rest of APAC.
APAC is a major market for various sectors such as consumer electronics, automobiles, and healthcare. This region has become a global focal point for large investments and business expansion opportunities.
Moreover, food and packaging is among the major industries contributing toward the growth of the market in the APAC region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts.
In terms of market by the hardware component, segments such as camera, frame grabber, optics, LED lighting, and processor, and others are covered. Camera under the hardware component comprehensively covers standard, frame rate, format, and sensor.
Under the software component, deep learning and application-specific software are considered.
Major applications for machine vision systems are quality control and inspection, positioning and guidance, measurement, identification, and recognition.
On the basis of vertical, the market has been segmented into industrial vertical (automotive, electronics and semiconductor, consumer electronics, glass, metals, wood and paper, pharmaceutical, food and packaging, rubber and plastics, printing, machinery, and solar panel manufacturing) and nonindustrial vertical (healthcare and medical imaging, postal and logistics, intelligent transportation system, security and surveillance, agriculture, consumer electronics, and autonomous cars)
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From an insight perspective, this research report has focused on various levels of analysis—industry analysis (industry trends), market ranking analysis of top players, value chain analysis; company profiles which discuss the basic views on the competitive landscape, emerging and high-growth segments of the machine vision market, high-growth regions, and market dynamics such as drivers, restraints, challenges, and opportunities.