North America Machine Vision Market 2023-2030
MARKET OUTLOOK
Triton Market Research’s report states that the machine vision market in North America is estimated to register at a CAGR of 5.36% over the forecast duration of 2023-2030. Canada and the United States are evaluated in the market in this region.
The United States has adopted Industry 4.0 solutions, where data is being used on a wide scale for production and being integrated with various manufacturing systems throughout the supply chain. The nation is also one of the largest automotive markets across the globe, and is home to more than 13 leading automakers.
Automobile manufacturing has been one of the leading revenue-generating sectors for the country in terms of manufacturing. Moreover, the “Advanced Manufacturing Partnership (AMP)” program was launched in the country to make the sector, the federal government, and universities invest in emerging technologies such as machine vision. This has broadened the scope for the machine vision market in the country.
The manufacturing sector is a leading contributor to the Canadian GDP. It largely invests in the R&D and implementation of novel technologies. For instance, the Industrial Research Assistance Program by the National Research Council of Canada has encouraged small- and medium-sized businesses to collaborate with United Kingdom-based SMEs to address issues encountered in advanced manufacturing processes. The partnerships aimed at identifying broader opportunities and advancing manufacturing capabilities are expected to influence the adoption of machine vision systems. This, in turn, will drive the studied market’s growth in the years to come.
COMPETITIVE OUTLOOK
The prime contenders in the machine vision market are Teledyne Technologies Incorporated, Isra Vision AG, USS Vision, Basler AG, Allied Vision Technologies GmbH, Optotune AG, Omron Corporation, and Datalogic SpA.
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