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Machine Vision (MV) Camera Market size is set to grow by USD 1.73 billion from 2024-2028, Increased demand in non-industrial sectors to boost the market growth, Technavio

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NEW YORK, June 28, 2024 /PRNewswire/ — The global machine vision (MV) camera market size is estimated to grow by USD 1.73 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.31% during the forecast period. Increased demand in non-industrial sectors is driving market growth, with a trend towards augmented demand for smart cameras. However, high cost of implementation poses a challenge. Key market players include Adimec Advanced Image Systems bv, Alpha MOS, AMETEK Inc., Banner Engineering Corp., Basler AG, Baumer Holding AG, Cognex Corp., Datalogic SpA, Decision Technology LLC, Hangzhou Hikvision Digital Technology Co. Ltd., Hitachi Ltd., Intel Corp., JAI AS, Keyence Corp., National Instruments Corp., OMRON Corp., SICK AG, Sony Group Corp., Teledyne Technologies Inc., and TKH Group NV.

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Platform (PC based camera, Smart camera, Wireless camera, and Wearable camera), Type (Line scan, Area scan, and 3D scan cameras), and Geography (APAC, North America, Europe, Middle East and Africa, and South America)

Region Covered

APAC, North America, Europe, Middle East and Africa, and South America

Key companies profiled

Adimec Advanced Image Systems bv, Alpha MOS, AMETEK Inc., Banner Engineering Corp., Basler AG, Baumer Holding AG, Cognex Corp., Datalogic SpA, Decision Technology LLC, Hangzhou Hikvision Digital Technology Co. Ltd., Hitachi Ltd., Intel Corp., JAI AS, Keyence Corp., National Instruments Corp., OMRON Corp., SICK AG, Sony Group Corp., Teledyne Technologies Inc., and TKH Group NV

Key Market Trends Fueling Growth

Machine Vision (Mv) Camera Market is experiencing significant growth due to the increasing adoption of smart cameras in industrial applications. These compact devices, with embedded image sensors, offer ease of use and cost-effectiveness for automated functions. Omron’s new F440 Smart Camera further enhances machine vision applications by enabling self-contained vision systems within machines. This innovation strengthens companies’ capabilities in inspection and quality assurance, contributing to the market’s expansion. 

The Machine Vision (MV) camera market is experiencing significant growth, driven by the increasing demand for automation and quality control in various industries. Three-dimensional (3D) modeling and manufacturing are trending applications, utilizing MV cameras for accurate measurement and inspection. Machine learning and artificial intelligence are also key technologies, enabling advanced image analysis and recognition capabilities. Additionally, the integration of MV cameras with production lines and robotic systems is increasing efficiency and productivity. The market for MV cameras is expected to continue expanding, with applications in sectors such as automotive, electronics, and healthcare. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

Market Challenges

The Machine Vision (Mv) Camera Market involves the use of expensive camera systems and software, posing a challenge for small and medium-sized enterprises (SMEs) due to high implementation costs. Customization and operational requirements increase the overall price. Smart cameras, equipped with advanced technologies for clarity and precision, have high base prices. Vendors face pressure to lower prices due to competition and the lack of concentration in the market. The scarcity of high-quality sensors further complicates matters, hindering market growth during the forecast period.The Machine Vision (MV) Camera market faces several challenges in the industry. Three-dimensional (3D) imaging and scanning are becoming increasingly important, requiring advanced capabilities from MV cameras. Sensors and resolution are key factors in delivering accurate results. The integration of Artificial Intelligence (AI) and deep learning algorithms is essential for advanced analysis and processing. The need for real-time processing and high frame rates adds complexity. Additionally, cost-effectiveness and miniaturization are crucial for mass adoption. The market for MV cameras is competitive, with players focusing on innovation and differentiation to meet these challenges. The market for MV cameras is expected to grow significantly due to these demands.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This machine vision (mv) camera market report extensively covers market segmentation by

Platform 1.1 PC based camera1.2 Smart camera1.3 Wireless camera1.4 Wearable cameraType 2.1 Line scan2.2 Area scan2.3 3D scan camerasGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 PC based camera- The Machine Vision (Mv) Camera Market is experiencing significant growth due to increasing automation in industries. These cameras are essential for quality control and inspection in manufacturing processes. Companies are investing in advanced Mv cameras to enhance productivity and improve product consistency. The market is driven by the demand for automation and the need for efficient production processes. Mv cameras are becoming an integral part of modern manufacturing, enabling real-time monitoring and analysis of production lines.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The Machine Vision (Mv) Camera Market encompasses a range of advanced imaging technologies, including Machine Vision cameras, smart cameras, wireless cameras, wearable cameras, parking cameras, CMS cameras, SVS cameras, and barcode scanners. These cameras employ various lens types, such as wideangle and normal lenses, to facilitate applications in measurement, position guidance, pattern recognition, 3D imaging, and line scan. Machine Vision systems are integral to industries like automotive, healthcare, retail, and manufacturing, enabling tasks like quality control, inspection, and surveillance. The market is driven by advancements in technology, increasing demand for automation, and the growing need for real-time data processing.

Market Research Overview

The Machine Vision (MV) Camera Market encompasses the production, sales, and installation of cameras designed for machine vision applications. These cameras utilize advanced technologies such as artificial intelligence and machine learning to analyze data in real-time, enabling automation and improved efficiency in various industries. The market is driven by the increasing demand for smart manufacturing and Industry 4.0 initiatives. Key applications include quality control, inspection, and measurement in sectors like automotive, electronics, food and beverage, and pharmaceuticals. The market is expected to grow significantly due to the rising adoption of automation and the increasing need for real-time data analysis. Additionally, the development of new technologies such as 3D modeling and hyperspectral imaging is expanding the market’s potential applications.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

PlatformPC Based CameraSmart CameraWireless CameraWearable CameraTypeLine ScanArea Scan3D Scan CamerasGeographyAPACNorth AmericaEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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WeRide’s Latest Robotaxi GXR to Start First Fully Unmanned Commercial Operations in Beijing

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BEIJING, Feb. 24, 2025 /PRNewswire/ — WeRide (Nasdaq: WRD), a global leader in autonomous driving technology, announced approval to launch its latest generation Robotaxi, the GXR, for fully unmanned paid ride-hailing services in Beijing. This marks WeRide’s second Robotaxi model to achieve fully driverless commercial operations in Beijing and GXR’s first large-scale commercial deployment in China, following its launch on the Uber platform in Abu Dhabi last December.

The service area spans key regions within the Beijing Economic-Technological Development Area, including high-speed railway stations. GXR is also approved for commercial operations on highways, including routes to and from Beijing Daxing International Airport.

In just four months since WeRide officially launched GXR, the company has rapidly progressed to fully unmanned commercial operations, demonstrating “WeRide speed” in the commercial deployment of autonomous driving.

“The commercial launch of Robotaxi GXR in Beijing represents a pivotal achievement for WeRide and the autonomous driving industry,” said Dr. Tony Han, Founder and CEO of WeRide. “By advancing from product launch to unmanned commercial operations in just four months, we’ve demonstrated that autonomous technology is ready to meet various transportation needs at scale. With this expansion, we continue to set the standard for autonomous mobility, making self-driving technology a reality for passengers everywhere.”

The culmination of over five years of WeRide’s dedication to Robotaxi, GXR features industry-leading L4-level redundant drive-by-wire chassis architecture, open mobile travel space, and the world’s first hidden B-pillar design. It can accommodate up to five passengers, offering the widest entry and exit space, the best seating space, and the largest luggage storage space in the Robotaxi industry. Users can hail a GXR on WeRide Go app, available in major mobile app stores.

As the only autonomous driving technology company in the world to achieve commercial Robotaxi operations both in China and overseas, WeRide has launched Robotaxi services in Beijing, Guangzhou, Nanjing, Ordos, Suzhou, and Abu Dhabi. In 2024, WeRide partnered with Uber to launch the largest commercial Robotaxi fleet in the Middle East. In 2025, WeRide will launch fully unmanned Robotaxi operations in Zurich, Switzerland.

WeRide started fully unmanned Robotaxi services in Beijing in June 2023. With the commercial launch of GXR, WeRide will continue to expand the service scope and scale, planning to increase the number of Robotaxi operations in Beijing to several hundred by 2025.

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Firebolt Expands into APAC with Sandeep Mathur as Managing Director

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BANGALORE, India, Feb. 24, 2025 /PRNewswire/ — Firebolt, the Data Warehouse for AI applications, today announced the appointment of Sandeep Mathur as the Managing Director, APAC. In this role, Sandeep will drive Firebolt’s growth strategy in APAC, lead regional go-to-market (GTM) efforts, and collaborate with Firebolt’s leadership to build global teams—including support, sales development, and engineering—based in India.

With over 25 years of leadership experience in the technology industry, Sandeep brings a deep understanding of enterprise data and analytics. Prior to joining Firebolt, he held leadership roles at Lentra, Oracle, among others, where he was instrumental in driving business expansion, strategic sales and fostering innovation in technology and data analytics solutions. With his appointment, Firebolt will focus on expanding its footprint in key verticals like financial services, e-commerce, and technology, where real-time analytics and lightning-fast performance are critical.

Eldad Farkash, Co-founder & CEO of Firebolt, commented on the appointment: “Sandeep Mathur’s appointment marks a pivotal moment for Firebolt. His deep understanding of the APAC market, combined with his strategic expertise, will be instrumental as we empower APAC enterprises with a new generation of high-performance analytics, expand partner ecosystems and enhance customer education initiatives that redefine speed, scale, and efficiency.”

Hemanth Vedagarbha, President, Firebolt said, “We are thrilled to have Sandeep Mathur at Firebolt. His deep expertise in scaling high-growth technology businesses and driving customer success in the region makes him an invaluable addition to our leadership team. As Firebolt continues to redefine cloud data analytics with unmatched speed and efficiency, Sandeep’s leadership will play a crucial role in expanding our presence and delivering exceptional value to enterprises across APAC.”

Expressing enthusiasm for his new role, Sandeep Mathur, Managing Director, APAC, Firebolt stated, “Innovation and technology are transforming how businesses in APAC operate. Joining Firebolt at such a pivotal time in the data and analytics landscape, I look forward to helping businesses achieve unmatched performance and efficiency. Firebolt’s innovative approach to cloud data warehousing is setting new benchmarks in performance and cost efficiency. My focus will be on collaborating with enterprises and fast-growing startups across APAC to optimize their cloud data infrastructures and maximize their performance-to-cost ratio. I look forward to partnering with our talented team and stakeholders to help organizations in the region unlock the full potential of their data.”

The APAC region is witnessing a massive shift toward data democratization, AI-powered analytics, and cost-optimized cloud solutions. Firebolt is well-positioned to help businesses achieve unmatched performance and efficiency in data analytics. Sandeep’s appointment underscores Firebolt’s commitment to expanding its global footprint and delivering best-in-class analytics solutions to enterprises worldwide.

About Firebolt: 

Firebolt is the Cloud Data Warehouse designed to handle the speed, scale, and flexibility of AI applications. By delivering ultra-low latency, high concurrency, multi-dimensional elasticity, and flexibility, Firebolt empowers organizations to build data-intensive AI applications that perform at scale. For more information, visit www.firebolt.io and follow on LinkedIn.

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Hikvision awarded EcoVadis Silver Medal for ongoing sustainability efforts

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HANGZHOU, China, Feb. 24, 2025 /PRNewswire/ — Hikvision has been awarded EcoVadis Silver Medal, a prestigious recognition from the world-renowned sustainability rating platform. This award highlights the company’s ongoing commitment to responsible business practices and its significant contributions toward advancing a more sustainable future, guided by its philosophy of “Tech for A Better World.”

Receiving the EcoVadis Silver Medal marks a key milestone in Hikvision’s sustainability journey globally. EcoVadis, the world’s largest and most trusted provider of corporate sustainability ratings, assesses companies across four critical areas: Environment, Labor and Human Rights, Ethics, and Sustainable Procurement. This comprehensive evaluation measures the sustainability practices of over 150,000 companies in more than 185 countries, taking into account their policies, actions, and results.

“We are extremely proud that, after more than 20 years of dedication, we have not only achieved sustainable growth for our company but also made a meaningful contribution to advancing global sustainable development,” said Huang Fanghong, Senior Vice-President and Chief Compliance Officer of Hikvision, “The recognition from EcoVadis is a testament to the progress we have made through ongoing efforts and strong partnerships across the value chain and industry. It highlights our progress toward stronger governance, more effective practices, and impactful sustainability performance worldwide. We are committed to consistently continuing this journey, striving to achieve our mission of becoming a responsible corporate citizen.”

Innovating for a Greener Future

As an industry leader, Hikvision harnesses innovation to drive the transition toward a greener future, contributing to the effort to combat climate change while addressing the growing demand for environmentally responsible development. In October 2024, Hikvision became the first in the LED display industry to receive the Green Product Mark certification from TÜV Rheinland. This certification underscores the company’s adherence to the highest environmental standards, covering areas such as technical compliance, restricted substances control, carbon footprint reduction, and recyclability.

Advancing Social Responsibility in Business

In the areas of human rights and business ethics, Hikvision and all its employees strictly follow the company’s Code of Ethics and Business Conduct and Global Human Rights Policy. These policies ensure that every individual is treated with dignity and respect, while also fostering an ethical business environment that promotes integrity, accountability, and transparency. In addition, Hikvision extends its commitment beyond the company by actively engaging in social initiatives. Since 2020, Hikvision has implemented the STAR Program for Social Good globally by collaborating with more than 30 NGOs worldwide, leveraging its technology to drive positive changes for the local environment, wildlife and community.

Collaborating with Partners for a Resilient Value Chain

Hikvision strongly values collective efforts in advancing sustainability, as reflected in its comprehensive requirements and evaluations of suppliers’ sustainability performance to meet high environmental and ethical standards. Hikvision also utilizes its innovative technologies to foster a more resilient value chain by supporting the sustainable growth of both upstream and downstream partners, creating long-term value across various industries.

This latest achievement reinforces Hikvision’s continued commitment to advancing sustainability and further underscores the company’s dedication to the Ten Principles of the United Nations Global Compact (UNGC), following its participation in 2024. Moving forward, Hikvision will remain focused on creating a lasting positive impact while driving a more innovative and sustainable future.

About Hikvision

Founded in 2001, Hikvision focuses on integrated security and scenario-based digitalization, and is committed to serving various industries with AIoT technologies. We are committed to integrating corporate social responsibility and sustainability development philosophy into our business, while also being driven by technological innovation.

For more information about our sustainability efforts, please visit here.

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