Machine Vision Market Growth 2023, Demand, CAGR Status, Business Investment, Key Manufacturers and Future Share till 2022-2032: SPER Market Research
The growing demand for superiority inspection and automation in several industrial verticals is probable to propel the market. In addition, the requirement for vision-guided robotic systems around the food and beverage, automotive, pharmaceutical and chemical, and packaging sectors is projected to foster market growth. The increment in the requirement for application-oriented machine vision systems is also fostering the adoption of the technology over the review duration.
Machine vision systems propose different benefits likewise a tailored approach, fast response, precise information, and fewer redundancies – all of which are essential to accomplishing greater proficiency in an organization. Machine vision is considered an automated tool in industries for functioning tasks such as quality assurance & inspection, identification, guidance & positioning, predictive maintenance, and measurement. Augmented requirements for industrial automation around a variety of industries, such as customer electronics, food & packaging, electronics & semiconductors, propelling the growth of the market.
According to the SPER market research, ‘Machine Vision Market Size- By Offering, By Product, By Application, By End-User – Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the global machine vision market is predicted to reach USD 30.53 billion by 2032 with a CAGR of 7.9%.
Growing demand for automation and quality inspection is a foremost aspect predicted to propel global machine vision market revenue growth throughout the review duration. Inspecting manufactured products with a machine vision system discovers errors, operational issues, impurities, and several other anomalies. Another aspect predicted to propel the market revenue growth is the rising requirement for vision-guided robotics systems. In a manner, machine vision enables the robot to see what it is doing. The robot would be blind if it did not have machine vision, and would only be capable of repeating a similar exact task until it was reprogrammed. Augmented flexibility is one of the foremost benefits of utilizing machine vision in industrial robots. A robot enabled with machine vision can do the work of different blind robots. As long as the robot has been pre-programmed and the tooling is correct, it can conveniently transfer between tasks with little downtime. Another benefit is that robots with vision technology demand less programming.
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Machine Vision Market Key Players:
The Global Machine Vision Industry Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Allied Vision, Basler AG, Bosch Rexroth, Cognex Corporation, Euclid Labs, FLIR Systems, Intel Corporation, ISRA Vision, Keyence, National Instruments, Omron Corporation, Optotune AG, Sick AG, Sony Corporation, Teledyne Technologies, Texas Instruments, USS Vision, ViDi Systems SA.
Acceptance of improved technologies by producers is another aspect predicted to propel revenue growth of the market. One such technological innovation is 3D machine vision, which is mostly for the specific three-dimensional measurement and inspection of complex 3D free-formed surfaces, however, it is being progressively utilized in new applications as well. 3D machine vision is also being utilized in stereo vision, shape from shading, laser triangulation, white light interferometry, light stripe projection, and many others.
Moreover, North America is measured to be among the rising revenue introducer in the global market. This is owed to the dominant existence of the semiconductor industry around the region, an imperative segment for MV systems. Further, MV technologies are becoming smaller and smarter to fit, in automation applications, for instance, autonomous vehicles, AI-driven bin picking, improved inspection technologies, and many more. All these are predicted to improve the requirement for MV systems around the region.
Global Machine Vision Market Segmentation:
- Frame Grabber
- LED Lighting
- Barcode Reading
- Standard Algorithm
- Deep Learning Software
- Solution Management
- PC Based
- Smart Camera Based
- Quality Assurance and Inspection
- Positioning and Guidance
- Pharmaceutical companies
- Pharmaceuticals & Chemicals
- Electronics & Semiconductor
- Pulp & Paper
- Printing & Labelling
- Food & Beverage (Packaging and Bottling)
- Glass & Metal
- Postal & Logistics
- Security & Surveillance
- Solar Paneling
- Middle East & Africa
- North America
- South America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
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SPER Market Research