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Machine Vision System Market to Reach $159.2 Billion, Globally, by 2032 at 13.9% CAGR: Allied Market Research

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The global machine vision system market is experiencing growth due to advancements in artificial Intelligence (AI) and deep learning, and expansion of industrial IoT (IIoT) and smart manufacturing.

WILMINGTON, Del., Aug. 9, 2024 /PRNewswire/ —  Allied Market Research published a report, titled, “Machine Vision System Market by Type (D Vision, 2D Vision and 3D Vision), Product (PC-based machine vision system, Vision controllers, Standalone vision system, Vision sensors & image-based bar code readers and Others), Application (Identification, Inspection, Gauging, Positioning and Others), End use (Automotive, Healthcare, Manufacturing, Industrial and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the machine vision system market was valued at $49.7 billion in 2023, and is estimated to reach $159.2 billion by 2032, growing at a CAGR of 13.9% from 2024 to 2032.

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165 – Tables68 – Charts250 – Pages

Prime determinants of growth 

Advancements in artificial intelligence (AI) and deep learning, and expansion of industrial IoT (IIoT) and smart manufacturing are the major factors which drives the machine vision system market growth. However, high initial investment costs act as a major barrier for its adoption, which, in turn, hampers the growth of the market. On the contrary, Integration with cloud computing and edge AI and the rise in adoption of industry 4.0 are anticipated to provide lucrative opportunities for the machine vision system market during the forecast period.

Report coverage & details:

Report Coverage

Details            

Forecast Period

2024–2032                 

Base Year

2023

Market Size in 2023   

$49.7 billion               

Market Size in 2032

$159.2 billion             

CAGR  

13.9 %

No. of Pages in Report

250

Segments Covered     

Type, Product, Application End User, and Region

Drivers

Advancements in Artificial Intelligence (AI) and DeepLearning Expansion of Industrial IoT (IIoT) and Smart Manufacturing           

Opportunities

Integration with Cloud Computing and Edge AI

Restraint

High Initial Investment Costs

 

Segment Highlights

Based on type, the 2D vision segment dominated the market in terms of revenue in 2023 and is expected to follow the same trend during the forecast period due to the widespread application and cost-effectiveness of 2D vision systems across various industries, including manufacturing, automotive, and electronics. 2D vision systems are well-suited for tasks like barcode reading, object recognition, and surface inspection, which are common in industrial automation. 

Based on product, the vision sensors & image-based barcode readers segment held the highest market share in 2023, accounting for nearly half of the machine vision system market share due to extensive use of these systems in industries such as logistics, manufacturing, and retail for tasks like product identification, sorting, and quality control. Vision sensors and image-based barcode readers are valued for their cost-effectiveness, ease of integration, and reliability in various automated processes.

Based on application, the inspection segment held the highest market share in 2023, accounting for nearly half of the Machine Vision System market share due to the critical role inspection plays in ensuring product quality and compliance across various industries, such as manufacturing, automotive, electronics, and pharmaceuticals. Machine vision systems are extensively used for detecting defects, verifying assembly, and ensuring product consistency, which are essential for maintaining high standards and reducing waste.

Based on end user, the manufacturing segment held the highest market share in 2023, accounting for nearly half of the machine vision system market share. This is because manufacturing industries heavily rely on machine vision systems for quality control, process automation, and efficiency enhancement. These systems are integral for inspecting products, ensuring compliance with standards, and optimizing production lines. The push towards Industry 4.0 and smart manufacturing further boosts the adoption of machine vision technology.

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Regional Outlook 

On the basis of region, the machine vision system market is analyzed across North America, Europe, Asia Pacific, and LAMEA. Asia-Pacific held the highest market share in the machine vision system market in 2023. This is driven by robust manufacturing sector, particularly in countries like China, Japan, South Korea, and Taiwan. Asia-Pacific is a global hub for electronics, automotive, and semiconductor industries, which are key adopters of machine vision systems for quality control and automation. The rapid industrialization, increasing adoption of automation technologies, and significant investments in smart manufacturing further boost the demand for machine vision systems. In addition, supportive government initiatives and growing local expertise in advanced manufacturing technologies contribute to the region’s leading market position.

Key Players: 

Baumer Ltd.Cognex CorporationCanon Inc.FLIR SystemIntel CorporationKeyence CorporationNational Instrument CorporationOmron CorporationTexas InstrumentSICK AG.

The report provides a detailed analysis of these key players in the global Machine Vision System market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Recent Development: 

In October 2023, Emerson announced the acquisition of NI. NI increases Emerson’s end market exposure in discrete markets, which will be Emerson’s second largest industry segment. With approximately 20% of its sales in software, NI also increases Emerson’s exposure to high-growth industrial software markets. The acquisition of NI advances Emerson’s position as a global automation leader and expands its opportunities to capitalize on critical secular trends like nearshoring, digital transformation, sustainability, and decarbonization.

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Key Benefits For Stakeholders:

This report provides a quantitative analysis, machine vision system sector analysis of the market segments, current trends, estimations, and dynamics of the machine vision system market analysis from 2024 to 2032 to identify the prevailing machine vision system market data, and machine vision system market opportunities.The market research is offered along with information related to key drivers, restraints, and opportunities.Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.In-depth analysis of the machine vision system market segmentation assists to determine the prevailing robot vision system market opportunities.Major countries in each region are mapped according to their revenue contribution to the global market.Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the vision inspection system manufacturers market players.The report includes the analysis of the regional as well as global machine vision system market trends, machine vision system market insights, machine vision system for US market, machine vision system market size by country, machine vision system company list, key players, market segments, application areas, and market growth strategies.

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Machine Vision System Market Key Segments:

By Type

D Vision2D Vision3D Vision

By Application

IdentificationInspectionGaugingPositioningOthers

By Region      

North America (U.S., Canada, Mexico)Europe (UK, Germany, France, Italy, Rest of Europe)Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)Latin America (Brazil, Argentina, Rest of Latin America)Middle East and Africa (UAE, Saudi Arabia, Rest of Middle East And Africa)

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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IAG’s Hangar 51 Accelerator 2024 Takes Off with New Cohort of Startups Focused on Sustainability, Customer Experience, and Operational Efficiency

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VIENNA, Nov. 14, 2024 /PRNewswire/ — International Airlines Group (IAG) announced the launch of its eighth Hangar 51 Accelerator program, welcoming a new cohort of startups poised to revolutionize the aviation industry. Plug and Play, a global innovation platform connecting startups and corporations is proud to support this year’s program as the innovation partner of IAG. 

The selected startups will tackle some of the industry’s biggest challenges across four core areas:

Sustainability: Exploring new technologies that can help decarbonize aviation.

Customer Experience: Enhancing the passenger journey through innovative products and services.

Operational Efficiency: Testing new solutions to improve efficiency and performance.

Airports: Optimizing turnaround management and ground operations.

Over twelve weeks, the startups will work closely with IAG experts to test and refine their solutions in a real-world environment. The culmination of the Hangar 51 Accelerator 2024 will be a Demo Day held on November 27 at IAG’s Headquarters in London. This event will provide a platform for the startups to present their projects to key stakeholders across IAG and its operating companies: Aer Lingus, British Airways, Iberia, LEVEL, Vueling, IAG Loyalty and IAG Cargo. This event will foster networking, knowledge exchange, and collaboration, enabling IAG to showcase the potential of these solutions across the group.

Plug and Play provided support to IAG with key program activities, including global scouting, startup assessment, and event management. Beyond the program itself, Plug and Play has connected IAG to its wider partner ecosystem, offering speaking and participation opportunities at events across Europe. This creates opportunities to connect with other industry leaders to exchange best practices and identify potential synergies.

“We’re truly excited to partner with one of the world’s largest airline groups to drive impactful improvements in airline operations and sustainability. Working with IAG is a unique highlight within our global ecosystem, showing how open innovation across diverse companies/carriers, regions, and approaches can make a real difference for the entire industry. In aviation, collaboration is key, and we’re proud to work together in tackling challenges like CO2 emissions and climate impact. The best startups have made it through our selection process and are now collaborating with various airlines and business units to test their solutions. I’m personally looking forward to Demo Day to see the impact they’ve made,” said Nik Munaretto, Director of Plug and Play Vienna.

Congratulations and welcome to the new Hangar 51 Accelerator 2024 Cohort:

Aeon BlueAiir InnovationsbederFlyOROKeepFlying®Nexus LabNoyaOreyeonParloaTarmac TechnologiesTomorrow.ioZero®ZestIoT

For more information about Plug and Play, please visit https://www.plugandplaytechcenter.com.

About Plug and Play

Plug and Play is the leading innovation platform connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we’re present in 60+ locations across 5 continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we’ve invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visit https://www.plugandplaytechcenter.com/

About IAG

International Airlines Group (IAG) is one of the world’s largest airline groups with 585 aircrafts flying to over 250 destinations and carrying more than 115 million passengers in 2023. The Group was created in 2011 and includes the airlines British Airways, Iberia, Aer Lingus, Vueling and LEVEL, and IAG Loyalty and IAG Cargo. It is a Spanish-registered company with its corporate office in London, United Kingdom. Its shares are listed on the London Stock Exchange and on the Spanish stock markets. IAG’s vision is to be the leading airline group in sustainability. The group is proud to have been listed on the Carbon Disclosure Project’s A List for its commitment to sustainability and action on climate change.

Media Relations Contact

press@pnptc.com

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Frost & Sullivan Launches FrostAI to Help Organisations Identify and Leverage Growth Opportunities

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Accelerating your Transformational Growth Journey: FrostAI’s elevated user experience acts as your company’s Growth Partner

LONDON, Nov. 14, 2024 /PRNewswire/ — Frost & Sullivan proudly announces the launch of FrostAI, designed to transform the way organisations access and utilise industry insights. FrostAI uses advanced natural language processing (NLP) to allow users to interact with its analytics platform in conversational language, moving beyond traditional keyword limitations. By simply asking questions, users receive precise, in-depth responses along with highlighted source references, making complex data exploration more intuitive and user-friendly.

The addition of FrostAI significantly enhances the value of Frost & Sullivan’s analytics platform by making it easier for businesses to uncover actionable insights and capitalise on growth opportunities. With access to comprehensive and continuously updated data spanning from January 2020 to today, users can explore trends, analyse market shifts, and validate potential strategies with exceptional accuracy and depth. FrostAI is built to empower users across all industries and sectors, making it invaluable for companies seeking a strategic edge in an increasingly competitive and transformative landscape.

“This launch marks the next step of our broader initiative to integrate AI-driven technologies into our platform,” said Joe Fristensky, Senior Partner and Chief Analytics Officer at Frost & Sullivan. “FrostAI reflects our commitment to innovation and to supporting our clients as they navigate a world where industries are transforming and evolving at an unparalleled pace. By allowing users to ask questions in natural language, FrostAI not only saves time but also makes complex insights more accessible and actionable,” he added.

FrostAI is designed for a wide range of applications, including identifying emerging growth opportunities and monitoring disruptive technologies across various sectors. As businesses continue to face transformational changes, from technological advancements to shifting consumer behaviours, Frost AI is positioned to become an essential resource for decision-makers looking to stay ahead of the curve.

This launch marks the beginning of a series of strategic developments from Frost & Sullivan, aimed at providing clients with leading-edge growth solutions to make informed growth investment decisions with enhanced efficiency.

Frost & Sullivan is committed to a future where AI and analytics intersect seamlessly, bringing the power of advanced data science into everyday strategic planning.

To schedule a personalised demo of the FrostAI platform, please contact melissa.silvas@frost.com

Frost & Sullivan, the growth pipeline company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation, and leadership. The company’s Growth Pipeline as a Service provides the CEO and the CEO’s Growth Team with transformational strategies and best-practice models to drive the generation, evaluation, and implementation of powerful growth initiatives. Frost & Sullivan leverages over 60 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from more than 40 offices on six continents.

Contact:

Kristina Menzefricke
Marketing & Communications
Global Customer Experience, Frost & Sullivan
kristina.menzefricke@frost.com
+44 (0)20 331 01228

SOURCE Frost & Sullivan

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Former Team USA Chief Joins Enhanced Games, Among Other Senior Hires Ahead Of 2025 Debut

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Enhanced Games expands team with leading experts in Games Delivery, Athlete Relations, Safety, and Digital.New hires bring world-class experience from US Olympic & Paralympic Committee, Nike, Red Bull, and Real Madrid C.F.Future-forward vision reinforces momentum, athlete empowerment, and innovation ahead of the 2025 games.

LONDON, Nov. 14, 2024 /PRNewswire/ — The Enhanced Games announces several recent additions to its growing leadership team, marking a significant step forward as the organisation prepares for its inaugural games at the end of 2025. The key hires bring a wealth of experience from elite sporting organisations, world-renowned athletic programs, and pioneering content platforms. The new leaders collectively bolster the Enhanced Games’ mission to reshape the future of sport.

Dr Aron D’Souza, President of the Enhanced Games, shared his enthusiasm for the new team members, stating, “We’re delighted to welcome Rick, Tim, Dan, and Alejandro to the Enhanced Games. Each brings invaluable expertise, energy, and momentum, setting us up for future success. As we prepare to host the first-ever Enhanced Games, their combined knowledge and deep experience will play a pivotal role in delivering a truly innovative sports experience.”

The new appointments include:

Rick Adams, Senior Vice President, Games Delivery
With a distinguished career in the United States Olympic & Paralympic Committee (USOPC), including serving as Chef de Mission of Team USA at the Beijing and Tokyo Olympic Games, Rick Adams brings expertise in managing top-tier sports events and operations. Formerly Chief of Sport Operations, Chief of Sport Performance and National Governing Body Services, and Chief of Paralympic Sport at the USOPC, Adams also led USA Weightlifting as CEO and served as President and CEO of the East Coast Hockey League. His expansive experience in sports delivery and athlete services will be instrumental in designing and orchestrating the inaugural Enhanced Games.

Tim Phelan, Vice President, Athlete Relations
Tim Phelan joins the Enhanced Games from Nike, where he directed sports marketing initiatives across multiple regions, including North America, Russia, and EMEA. With a strong background in track and field and a Master’s in Human Kinetics and Sports Management, Phelan’s focus on connecting with athletes aligns perfectly with the Enhanced Games’ commitment to athlete empowerment. His global insights and deep industry connections will strengthen relationships with athletes worldwide.

Dr. Dan Turner, Ph.D., Director, Athlete Safety
A seasoned sports performance scientist, Dr Dan Turner has been at the forefront of high-performance science with Red Bull North America, consulting for elite athletes, and working within performance medicine. With a Ph.D. in Clinical Human Physiology, Turner’s work has centred around optimizing athlete safety and performance. His expertise will be pivotal in ensuring that Enhanced Games athletes have access to cutting-edge, science-backed support for optimal well-being.

Alejandro Arenas, Director, Content & Digital Channels
Alejandro Arenas, a leader in digital sports engagement, brings experience from Snapchat as Head of International Sports Partnerships and from Real Madrid C.F. as Global Head of Social Media. Known for his innovative approach to engaging sports audiences, Arenas will lead Enhanced Games’ digital strategy, ensuring a dynamic and accessible experience for fans and athletes alike. His focus on immersive digital content will amplify the Enhanced Games’ vision across global platforms.

Each of these leaders will contribute critical expertise to the Enhanced Games’ mission as we shape the future of competitive sports. Their combined skills across Games Delivery, Athlete Relations, Athlete Safety, and Digital Channels mark a robust expansion of our leadership team and set Enhanced on a dynamic course toward the 2025 games.

About the Enhanced Games:

The Enhanced Games are redefining the future of sports, merging scientific innovation with athletic achievement to create a captivating competition for sports fans, tech enthusiasts, and the science-curious. Founded in 2023 by Australian entrepreneur Aron D’Souza, the Enhanced Games challenge conventional views on human performance, embracing advancements in medicine and technology to safely expand the boundaries of what is possible. With a vision to inspire superhumanity, the Games provide athletes with the opportunity to enhance their abilities under professional supervision, focusing on transparency, safety, innovation, and record-breaking feats.

Backed by pioneering investors like Peter Thiel, Balaji Srinivasan, and Christian Angermayer, the Enhanced Games represent a global movement at the intersection of sport, science, and cultural evolution. Empowered by a diverse team of experts from organizations including FIFA, Nike, Red Bull, and the US Olympic and Paralympic Committee, we are committed to creating a fair, financially equitable platform that inspires humankind to overcome limits and redefine human potential.

For further information, please contact:
Mike Oakes, Communications Director, Enhanced Games
mike.oakes@enhanced.org
Visit: enhanced.com

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