Middle East And Africa Machine Vision Market 2023-2030
MARKET OUTLOOK
Triton Market Research’s report indicates that the machine vision market in the Middle East and Africa would grow with a CAGR of 5.66% through the forecasting period 2023-2030. The United Arab Emirates, Saudi Arabia, South Africa, Turkey, and Rest of Middle East & Africa are assessed in the market in this region.
Saudi Arabia is among the eminent countries supporting the adoption of MV systems, owing to the surging government investments in novel technologies. Industry 4.0 also plays a major role in shaping the future outlook of the automation and manufacturing sectors of the country.
Several mega projects, such as the NEOM city, are also influencing the demand for using MV systems for infrastructure development purposes. The country also announced its plan to invest $500 billion across major sectors, such as technological & digital sciences, advanced manufacturing, energy & water, food, media & entertainment, mobility, and biotech. These developments provide the market in the KSA with immense growth opportunities.
In 2017, the Ministry of Science, Industry, and Technology in Turkey established ‘Digital Transformation Platform in Industry.’ This is a public-private partnership (PPP) to integrate and coordinate efforts towards competency and technological support for enterprises.
In 2018, the national government announced the ‘Industry 4.0 Roadmap’ that offers financial support and incentives for implementing advanced manufacturing solutions. Over the coming decade, it is expected that Turkey would invest nearly $3-4.5 billion every year to integrate Industry 4.0 solutions into manufacturing processes. All these developments are indicative of a positive future for the Turkish machine vision market over the coming years.
COMPETITIVE OUTLOOK
The distinguished players in the machine vision market comprise Jai AS, Cognex Corporation, Baumer Electric AG, Perceptron Inc, Optotune AG, National Instruments Corporation (NI), Omron Corporation, and Allied Vision Technologies GmbH.
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