Machine Vision Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Machine Vision Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Machine Vision Market

The global machine vision market size was valued at USD 9.01 billion in 2022 and is projected to grow from USD 9.68 billion in 2023 to USD 16.82 billion by 2030, exhibiting a CAGR of 8.2% during the forecast period of 2023-2030.

The pandemic appreciably impacted the device vision marketplace, causing both challenges and opportunities. Supply chain disruptions and reduced production sports to start with hampered market increase. However, the elevated call for automation and contactless operations in sectors along with healthcare, logistics, and production drove the adoption of gadget imaginative and prescient technologies, leading to machine vision market growth.

The tool's imaginative and prescient market is pushed through numerous key elements, such as the growing demand for automation across several industries to decorate efficiency and reduce operational charges. Technological enhancements in synthetic intelligence (AI) and deep getting-to-know are improving the abilities of devices' imaginative and prescient structures, making them more correct and flexible. Additionally, the developing want for great inspection and automation in manufacturing tactics, coupled with the increase of packages in sectors which incorporate healthcare, cars, and electronics, is propelling market growth.

The machine vision market is experiencing a double shot of increase, fueled by way of each surging call for and growing accessibility.Manufacturers are more and more turning to system vision for high-quality management, automation, and efficiency gains leading to the expansion of machine vision market share globally This trend is being bolstered with the aid of improvements in hardware and software programs, making device vision structures more person-friendly and fee-powerful.Smart camera structures, with their incorporated processing energy, are particularly warm, supplying compact and effective answers across various industries. With its developing affordability and expanding abilties, gadget vision is poised to look massive adoption within the years to come.

Comprehensive Analysis of Machine Vision Market

The machine vision marketplace is segmented with the aid of kind, system, and enterprise. By kind, the two-D imaginative and prescient gadget is dominant due to its use in capturing item images with virtual cameras, traditionally employed for barcode analyzing and label orientation. The 3-D imaginative and prescient gadget, using multiple cameras to capture product dimensions, is expected to develop unexpectedly. The 1-D imaginative and prescient device is used for continuous system inspection, including metals and plastics. By device, PC-primarily based system vision structures lead the market, whilst smart digicam systems are anticipated to develop notably due to their use in 3-D sensing and imaging. By enterprise, the automotive sector leads because of the common use of machine imaginative and prescient structures for inspection and error-proofing. The semiconductor and electronics industry is projected to exhibit the very best CAGR, pushed by the need for automated wonderful inspections. Other sectors like healthcare, retail, and meals & beverage also are predicted to develop extensively.

The North American region led the machine vision market by benefitting a size of USD 3.48 billion in 2023 due to the early adoption of producing automation and the presence of a widespread wide variety of domestically rooted providers.

The leading players in the machine vision market significantly influence its growth trajectory and set industry standards. These key players, including Cognex Corporation (U.S.), Basler AG (Germany), Omron Corporation (Japan), Keyence (Japan), National Instruments (U.S.), Sony Corporation (Japan), Teledyne Technologies (U.S.), Texas Instruments (U.S.), Intel Corporation (U.S.), and ViDi Systems SA (Switzerland), contribute to a competitive landscape, driving innovation and market advancement.

In December 2022, Cognex obtained German lighting fixtures era innovator SAC Sirius Advanced Cybernetics GmbH (""SAC""). This acquisition expands Cognex's presence in sectors that includes automobile and patron electronics, in which merchandise is synthetic swiftly and with minimum tolerance for protection-compromising screw-ups.

Segmentation Table

Attribute Details

Study Period 2019-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2019-2021

Growth Rate CAGR of 8.2% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Type

1-D Vision System

2-D Vision System

3-D Vision System

By System

PC based

Smart Camera

Others (Compact, etc.)

By Industry

Semiconductor

Healthcare

Automotive

Manufacturing

Others (Retail, Banking, etc.)

By Region

- North America (By Type, System, Industry and Country)

- U.S. (By System)

- Canada (By System)

- Mexico (By System)

- Europe (By Type, System, Industry and Country)

- U.K. (By System)

- Germany (By System)

- France (By System)

- Italy (By System)

- Spain (By System)

- Russia (By System)

- Benelux (By System)

- Nordics (By System)

- Rest of Europe

- Asia Pacific (By Type, System, Industry and Country)

- China (By System)

- India (By System)

- Japan (By System)

- South Korea (By System)

- ASEAN (By System)

- Oceania (By System)

- Rest of Asia Pacific

- The Middle East & Africa (By Type, System, Industry and Country)

- South Africa (By System)

- North Africa (By System)

- GCC (By System)

- Israel (By System)

- Turkey (By System)

- Rest of the Middle East & Africa

- South America (By Type, System, Industry and Country)

- Brazil (By System)

- Argentina (By System)

- Rest of Latin America


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