The global machine vision systems market was valued at US$ 9.11 Bn in 2018 and is expected to grow at a CAGR of 7.5% during the forecast period 2019 - 2027, to reach US$ 17.57 Bn by 2027.
Machine Vision Systems are considered the next generation intelligent systems that are mainly used in industrial applications for detection, measurement, identification, inspection, and other functions. Machine vision systems play an important role in the robotics sector and they are used to guide autonomous robots.
To enhance productivity, industries such as automotive, food & beverages, and pharmaceuticals need to focus on reducing labor-intensive processes and increasing accuracy; machine vision systems offer a great solution to overcome these concerns. Machine vision systems perform complex and repetitive tasks with high accuracy and consistency in comparison to traditional systems.
Machine vision systems consist of components such as image sensors, frame grabbers, processors, PLCs, and others, which are driven by a software package to execute user-defined applications. Machine vision systems are also employed in non-inspection applications such as guiding robots, pick and place the parts, dispensing liquids and many more.
The machine vision components market is anticipated to experience significant growth in the coming years due to the increasing demand in industries such as automation, robotics and non–manufacturing which includes intelligent transport systems, logistics and medical, exhibiting substantial market growth.
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The key companies operating in the Machine Vision Systems market include Basler AG, Cognex Corporation, Datalogic S.p.A, FLIR Systems, Inc., IDS Imaging Development Systems GmbH, ISRA VISION AG, Keyence Corporation, OmniVision Technologies, Inc., Omron Microscan Systems, Inc., and Teledyne Technologies Incorporated, among others.
Machine vision systems are classified into three types, namely: Smart Vision Systems, PC-Based Vision Systems, and 3D Vision Systems. Machine vision systems have set the highest growth record in North America in 2018.
Europe is the key manufacturer and exporter of machine vision systems worldwide. The manufacturing industry is the largest end-user of these systems, however, the growth of machine vision systems in non- industrial niche applications such as logistics, intelligent traffic systems, IP video surveillance, and others are also rising owing to ongoing improvements in the technology resulting in decreasing the costs of these systems.
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The report segments the global machine vision systems market as follows:
Global Machine Vision Systems Market – By Type
- Smart Machine Vision Systems
- PC-Based Machine Vision Systems
- 3D Machine Vision Systems
Global Machine Vision Systems Market – By Component
- Frame Grabbers
- Illuminations & Optics
- Vision Software
- Vision Sensors
Global Machine Vision Systems Market – By End-User
- Electronics & Semiconductor
- Food & Beverages
Global Machine Vision Systems Market – By Interface
- USB 2.0/ USB3.0
- Camera Links
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