Asia-pacific Machine Vision Market 2023-2030
MARKET OUTLOOK
Triton Market Research’s report showcases that the machine vision market in the Asia-Pacific would develop at a CAGR of 6.66% over the years 2023-2030. India, Japan, Australia & New Zealand, China, ASEAN Countries, South Korea, and Rest of Asia-Pacific are scrutinized in the market within the region.
South Korea has emerged as a major player in the industrial and consumer technology markets. The country is further making significant investments in industrial automation, and is focusing on robot manufacturing. Moreover, the national government has invested substantially in R&D and cutting-edge technologies for the development of robots. This has propelled this shift towards industrial automation and robotic deployment in production processes. With these developments, the machine vision market in South Korea seems promising.
On the other hand, manufacturing has emerged as one of the highest revenue-generating sectors in India. Moreover, the ‘Make in India’ initiative has revolutionized the country’s manufacturing sector, giving it much-needed global recognition. The country has thus become one of the most lucrative destinations for investments related to the manufacturing sector.
In view of this, several prominent companies, such as Siemens, GE, Boeing, Toshiba, and others, have set up their manufacturing units in the country. Many of these companies have invested largely in the sector. To bolster the Indian manufacturing sector, there is an increased focus on adopting and integrating cutting-edge technologies, such as artificial intelligence and machine learning. Such developments present positive growth prospects for the nation’s machine vision market.
COMPETITIVE OUTLOOK
The acclaimed companies in the machine vision market include Baumer Electric AG, Teledyne Technologies Incorporated, Optotune AG, Datalogic SpA, National Instruments Corporation (NI), Allied Vision Technologies GmbH, USS Vision, and Perceptron Inc.
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