Machine Vision Camera Market Forecasts to 2028 – Global Analysis By System (Smart Camera, PC based, Compact, Wearable Camera, Wireless Camera), Type (3-D Vision System, 1-D Vision System, 2-D Vision System), Deployment (Robotic cells, General), Camera Typ

Machine Vision Camera Market Forecasts to 2028 – Global Analysis By System (Smart Camera, PC based, Compact, Wearable Camera, Wireless Camera), Type (3-D Vision System, 1-D Vision System, 2-D Vision System), Deployment (Robotic cells, General), Camera Type (Area Scan Camera, Line Scan Camera) Sensor Type, Component Pixel Type, Lens Type, Spectrum Type, Application, End User and Geography

According to Stratistics MRC, the Global Machine Vision Camera Market is accounted for $12 billion in 2022 and is expected to reach $20 billion by 2028 growing at a CAGR of 9.4% during the forecast period. Digital sensors with specialised optics are used by machine vision cameras to capture images, which are then processed, analysed, and measured by computer hardware and software to produce accurate results. A machine vision camera can easily examine minute object details that are too small to be seen by the human eye if it is built around the right resolution and optics.

According to recent market research, Machine vision cameras are projected to generate over 26% of their revenue from gauging and measurement applications.

Market Dynamics:

Driver:

Increase in demand for artificial intelligence (AI)

Machine vision systems powered by artificial intelligence are capable of quickly identifying and contrasting flaws with significant variability. Manufacturing facilities use AI-based solutions to increase productivity by maximising asset utilisation, reducing downtime, and improving machine efficiency. It is also anticipated that AI-based solutions will increase productivity through quality control by detecting flaws and assisting in the predictive maintenance of factory equipment. Additionally, AI-based systems are able to look back on the past and learn from it, act in the present, and predict the future. As a result, the industry will have several high-growth prospects thanks to the need for AI in machine vision.

Restraint:

Lack of user awareness about rapidly changing machine vision technology

Since most people are not familiar with how this technology works, business owners must train their staff in the technical capabilities of AI-based devices. Machine vision technology is rapidly changing and improving with AI-based solutions. The cost and length of training have increased as a result of these quickly evolving technologies. Inadequate training can also lead to poor programming of machine vision systems, which can lead to erroneous findings. These problems make it difficult for the market to expand since machine vision technology changes quickly.

Opportunity:

Growing demand for vision guided robotics system

In order to automate quality control, product measurement, ideal placement, and predictive maintenance tasks for consumer electronics manufacturers, vision guided robots systems must be used. Even without a safety barrier, a vision-guided robot can safely operate alongside people in a shared office because it can prevent collisions. The usage of industrial robots for automation in the automotive and consumer electronics industries has rapidly increased. The demand to integrate machine vision systems with vision-guided robot controllers is growing as a result of this.

Threat:

Surging risk of cyber-attacks on industrial machine robots and devices

Data hacking and account hacking are two serious concerns that can affect how well industrial robots work. The adoption of cutting-edge technologies in this area, such as AI machine vision and computer vision, will be directly impacted by this. Artificial intelligence (AI)-based machine vision systems are vulnerable to cyber attacks, which can reduce their effectiveness. We may encounter cyber attacks against them that compromise accuracy, safety, and integrity, which can reduce their effectiveness and result in a decline in market value due to manufacturing process flaws. Because of this, the potential of cyber attacks on industrial machine robots and gadgets is a restraint that is slowing market expansion.

Covid-19 Impact

Ahead of COVID-19, industrial firms all over the world have committed to increasing their investments in automation. Additionally, as companies have come to understand the value of automated quality assurance in manufacturing processes, demand has grown. The COVID-19 outbreak has increased demand for machine vision cameras globally by decreasing human engagement in numerous operations. As a result, machine vision is now widely seen as being a crucial part of the long-term development of automation. Machine vision can quickly identify problems in automated manufacturing processes. Costs are reduced as a consequence, and reaction times are quicker.

The Software segment is expected to be the largest during the forecast period

The Software segment is estimated to have a lucrative growth. An interface for production lines and cameras is provided by software tools in a collection of industrial machine vision software. The programmer can increase the efficiency of a vision system at a reduced cost by using smart cameras with Linux OS. Major corporations are concentrating on creating open system smart cameras as a result, allowing system integrators to incorporate the required application software from either a third-party or open-source software provider.

The automotive segment is expected to have the highest CAGR during the forecast period

The automotive segment is anticipated to witness the fastest CAGR growth during the forecast period. With the advent of the autonomous car and automation within the production facility itself, the automobile industry is undergoing a fast transformation. The use of machine vision cameras, such as parking cameras, CMS cameras for side views, and SVS cameras for a 360-degree view surrounding the automobile, has grown as a result of ongoing technical improvement. The market for machine vision cameras is anticipated to be driven by the growing use of ADAS and autonomous cars worldwide. Additionally, the machine vision cameras are used for measurement during the development of new parts and in the inspection phase of the automotive manufacturing process. These programmes make use of line scan cameras, 3D imaging cameras, barcode scanners, and other devices.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period. This enormous market share and regional expansion may be responsible for the lucrative potential in the automotive, packaging, pharmaceutical, and other industrial applications in the Asia Pacific region. As the region develops itself as a hub for global manufacturing, the technology is anticipated to gain significant pace throughout the anticipated timeframe. Two important countries with the ability to provide a variety of options for both advancing and established technologies like machine vision are China and Japan. The growth and prosperity of the local economy are facilitated by a variety of industrial sectors.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the dominance of the region's main market for Machine Vision systems, the semiconductor sector. In order to integrate into automation applications like autonomous cars, AI-driven been picking, improved inspection technologies, and so forth, MV technologies are also becoming smaller and smarter. All of this is anticipated to increase demand for MV systems in the area.

Key players in the market

Some of the key players profiled in the Machine Vision Camera Market include Qualcomm Technologies, Hexagon AB, LMI Technologies, Toshiba Teli, Cognex, Nikon, USS Vision, National Instruments Corporation, Sony Corp. and Teledyne DALSA Inc.

Key Developments:

In March 2021, Cognex introduced the DataMan 8700 Series, the latest generation of portable barcode readers. The gadget is cutting-edge in terms of performance and is extremely simple to operate, requiring no prior tweaking or operator training.

In March 2021, Cognex released Cognex Edge Intelligence (EI) which uses barcode scanning performance monitoring and device management to assist clients in avoiding downtime and enhance the efficiency of manufacturing and shipping operations.

Types Covered:
• 3-D Vision System
• 1-D Vision System
• 2-D Vision System

Deployments Covered:
• Robotic cells
• General

Camera Types Covered:
• Area Scan Camera
• Line Scan Camera

Sensor Types Covered:
• MIG Sensor
• Complementary Metal Oxide Semiconductor (CMOS)
• N-Type MOS Sensor
• Charge-Coupled Device (CCD)
• Other Sensor Types

Components Covered:
• Software
• Hardware
• Other Components

Pixel Types Covered:
• More than 12MP
• Less than 1MP
• 8-12MP
• 1-3MP
• 3-5MP
• 5-8MP

Lens Types Covered:
• Normal Lens
• Wide Angle Lens
• Telephoto Lens

Spectrum Types Covered:
• Visible Light
• Infrared
• X-Ray

Applications Covered:
• Intelligent Transportation System (ITS)
• Quality Assurance and Inspection
• Security and Surveillance
• Medical and Life Sciences
• Measurement
• Identification
• Pattern Recognition
• Position Guidance
• Other Applications

End Users Covered:
• Aerospace
• Automotive
• Food Processing
• Healthcare
• Electronics & Semiconductor
• Manufacturing
• Retail
• Banking
• Printing
• Solar Panal Manufacturing
• Pharmaceuticals
• Wood & Paper
• Glass
• Rubber & Plastic
• Machinery
• Textile
• Metals
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements