North America Machine Vision Market Forecast 2023-2032
KEY FINDINGSThe North America machine vision market is set to grow with a CAGR of 4.95% during the forecasted period of 2023-2032. Some of the key drivers propelling the regional market’s growth include the presence of global players as well as the increase in research directed toward developing efficient machine vision systems for healthcare and aerospace & defense industries.
MARKET INSIGHTSThe North America machine vision market growth analysis constitutes the assessment of Canada and the United States. Technological advancements have driven companies to focus more on investing in technology rather than human resources to stay competitive on a global scale. An illustrative example is Asensus Surgical, which obtained the CE mark approval for the expansion of machine vision capabilities in its Intelligent Surgical Unit (ISU) for the Senhance surgical robot.
On the other hand, various manufacturing industries from the United States have moved their operations to Mexico due to the availability of inexpensive labor. Subsequently, this shift presents significant opportunities for companies to develop automated infrastructure for manufacturing facilities. Furthermore, the introduction of innovative technologies, like smart factory solutions with machine vision systems, reduces the need for human intervention, thus resulting in lower manufacturing costs as well as higher product quality. As a result, these factors are expected to boost the North America machine vision market growth during the forecast years.
COMPETITIVE INSIGHTSSome of the key companies operating in the market are Cognex Corporation, Teledyne Technologies Incorporated, etc.
Our report offerings include:• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• The competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments