The Machine Vision Market is Expected to Reach USD 14.0 Billion by 2024 From USD 9.9 Billion in 2019

5/21/2019, 11:23 AM (Source: GlobeNewswire)

Dublin, May 21, 2019 (GLOBE NEWSWIRE) -- The "Machine Vision Market by Component (Hardware (Camera, Frame Grabber, Optics, Processor), Software (Deep Learning and Traditional software)), Product (PC Based and Smart Camera Based), Application, End-User Industry - Global Forecasts to 2024" report has been added to's offering.

The machine vision market was valued at USD 9.12 billion in 2018 and is expected to reach USD 14.00 billion by 2024, at a CAGR of 7.11% between 2019 and 2024.

The demand for advanced manufacturing techniques with a focus on maintaining a quality standard with minimum human intervention has been growing rapidly across various industry verticals. Recent advancements in imaging technology such as deep learning software, liquid lens, vision processing unit, 360-degree camera, hyperspectral imaging, and hybrid image sensor have increased the scope for machine vision systems to be used in a wide range of applications in various industrial sectors.

The increasing awareness of consumers about product quality has led to an increase in the demand for inspection and quality assurance for end products. Companies are looking to invest in automation systems to reduce production costs and enhance quality standards. This, in turn, increases the demand for machine vision systems.

Other key factors contributing to the growth of the machine vision market include the growing demand for vision-guided robotic systems, increasing manufacturing of hybrid and electric cars, growing demand for application-specific machine vision systems, and increasing adoption of 3D machine vision. However, varying end-user requirements and lack of flexible machine vision solutions restrain the growth of the market.

In 2018, the machine vision market was dominated by Cognex Corporation (US), Basler AG (Germany), OMRON Corporation (Japan), Keyence Corporation (Japan), National Instruments (US), Sony Corporation (Japan), Teledyne Technologies, Inc. (US), Allied Vision Technologies GmbH (Germany), Texas Instruments, Inc. (US), Intel Corporation (US), Baumer Optronic GmbH (Germany), and JAI A/S (Denmark), among others.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Increasing Need for Quality Inspection and Automation Growing Demand for Vision-Guided Robotic Systems Increasing Adoption of 3D Machine Vision Systems Increase in Manufacturing of Hybrid and Electric Cars
5.2.2 Restraints Varying End-User Requirements Lack of Flexible Machine Vision Solutions
5.2.3 Opportunities Government Initiatives to Support Industrial Automation Increasing Demand for AI in Machine Vision Government Initiatives to Boost Ai-Related Technologies Growing Adoption of Industry 4.0 Need for Miniaturization of Cameras and Processors Rising Need for Asics
5.2.4 Challenges Complexity in Integrating Machine Vision Systems Lack of User Awareness About Rapidly Changing Machine Vision Technology
5.3 Value Chain Analysis
5.3.1 R&D
5.3.2 Machine Vision Component Manufacturers
5.3.3 Original Equipment Manufacturers (OEMS)
5.3.4 System Integrators
5.3.5 Resellers and Distributors
5.3.6 End Users

6 Machine Vision Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Cameras Interface Standards USB 2.0/USB 3.0 Camera Link GIGE Coaxpress Others (EMVA-1288, Firewire, Genicam) By Frame Rate <25 FPS 25-125 FPS More Than 125 FPS By Format Line Scan Area Scan By Sensor Type CMOS CCD
6.2.2 Frame Grabbers
6.2.3 Optics
6.2.4 LED Lighting
6.2.5 Processors FPGA DSP Microcontrollers and Microprocessors VPU
6.3 Software
6.3.1 Traditional Software
6.3.2 Deep Learning Software

7 Machine Vision Market, By Product
7.1 Introduction
7.2 PC-Based Machine Vision Systems
7.2.1 PC-Based Machine Vision Systems Have the Ability to Compensate for Unexpected Variations in Certain Tasks.
7.3 Smart Camera-Based Vision Systems
7.3.1 Smart Camera Performs Multiple Functions Without Manual Assistance By Utilizing A Processor and Computational Intelligence.

8 Machine Vision Market, By Application
8.1 Introduction
8.2 Quality Assurance & Inspection
8.2.1 Quality Assurance Application Dominates the Machine Vision Market
8.3 Positioning & Guidance
8.3.1 Robots Plays an Important Role in Positioning and Guidance System in Machine Vision.
8.4 Measurement
8.4.1 Machine Vision Measurement Tools Combined With the Right Optics and Stable Lighting Provide Precision Repeatability to Ensure Manufacturing Accuracy.
8.5 Identification
8.5.1 In Identification, Vision Systems are Used to Read Various Codes and Alphanumeric Characters, Such as Text and Numbers.
8.6 Predictive Maintenance
8.6.1 Predictive Maintenance Can Be Very Useful When There is Machine Downtime.

9 Machine Vision Market, By End-Use Industry
9.1 Introduction
9.2 Automotive
9.2.1 Machine Vision Systems Offer High Accuracy in Critical Activities Such as Bin Picking and Positioning of Parts for Assembly.
9.3 Electronics & Semiconductor
9.3.1 Demand for Machine Vision Systems in the Electronics & Semiconductor Industry is Increasing Because of the Declining Prices of Electronic Chips and the High Production
9.4 Consumer Electronics
9.4.1 3D Machine Vision Systems are Emerging as Powerful Technologies for Electronics Assembly Applications.
9.5.1 Machine Vision Improves Operational Efficiency, Traces Defects, Reduces Wastage, and Provides Detailed Statistical Information.
9.6 Metals
9.6.1 Shortage of Skilled Labour in the Market are the Two Major Factors Responsible for the Increasing Adoption of Machine Vision in the Metals Industry.
9.7 Wood & Paper
9.7.1 Machine Vision Systems Can Work Efficiently in Different Environmental Conditions, Such as Wood Dust, Heat, Smoke, Water, and Chemicals.
9.8 Pharmaceuticals
9.8.1 Stringent Government Regulations and the Increasing Need to Combat Counterfeit Products are Driving the Growth of the Machine Vision Market in This Industry
9.9 Food & Packaging
9.9.1 Food The Machine Vision Systems are Pre-Trained With the Required Algorithms, Which Help Them Understand Characteristics Such as Size, Stage of Growth, and Variety.
9.9.2 Packaging Machine Vision Helps in the Inspection of Packaging Processes and Reduction of Errors By Carrying Out Multiple Inspections at A Single Time.
9.10 Rubber & Plastics
9.10.1 The Machine Vision in Rubber and Plastic Industry Helps in Examine and Evaluate Parts and Determine If the Parts are Good, Bad, Or Undefined.
9.11 Printing
9.11.1 Machine Vision Ensure That the Right Pages are Used in the Right Envelopes
9.12 Machinery
9.12.1 Machine Vision Systems Help in Completing Processes Much Faster and Also Help in Detecting Defects and Validating Quality.
9.13 Solar Panel Manufacturing
9.13.1 Industrial Machine Vision-Based Inspection is an Important Tool for Inspecting the Quality of Solar Panels.
9.14 Textiles
9.14.1 Machine Vision Systems Help Manufacturers Produce High-Quality Textiles While Minimizing the Costs and Maximizing the Profits.

10 Geographic Analysis

11 Competitive Landscape
11.1 Overview
11.2 Key Players in the Machine Vision Market
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.4 Strength of Product Portfolio (25 Companies)
11.5 Business Strategy Excellence (25 Companies)
11.6 Competitive Scenario
11.6.1 Product Launches and Developments
11.6.2 Partnerships, Collaborations, and Agreements
11.6.3 Mergers & Acquisitions

12 Company Profile
12.1 Key Players
12.1.1 Cognex
12.1.2 Basler
12.1.3 Omron
12.1.4 Keyence
12.1.5 National Instruments
12.1.6 Sony
12.1.7 Teledyne Technologies
12.1.8 Texas Instruments
12.1.9 Intel
12.1.10 Baumer Optronic
12.1.11 JAI A/S
12.1.12 Mvtec Software
12.1.13 Tordivel As
12.1.14 Isra Vision
12.1.15 Sick
12.1.16 Flir Systems
12.2 Startup-Ecosystem
12.2.1 Ametek
12.2.2 Qualitas Technologies
12.2.3 Sualab
12.2.4 Algolux
12.2.5 Clarifai
12.2.6 Cadence Design Systems
12.2.7 Inuitive

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