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.
Download Research Report Sample & TOC:
https://www.alliedmarketresearch.com/request-sample/1907
(We are providing report as per your research requirement, including the Latest Industry Insight’s Evolution, Potential and COVID-19 Impact Analysis)
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.
Get Customized Reports with your Requirements:
https://www.alliedmarketresearch.com/request-for-customization/1907
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.
Inquiry before Buying:
https://www.alliedmarketresearch.com/purchase-enquiry/1907
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.
Procure Complete Report (250 Pages PDF with Insights, Charts, Tables, and Figures) @
https://www.alliedmarketresearch.com/checkout-final/machine-vision-system-market
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)
Access AVENUE – A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world’s largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
https://www.alliedmarketresearch.com/avenue/trial/starter
Trending Reports in Semiconductor and Electronics Industry:
Machine Learning Chip Market was valued at $2,425.6 million in 2017, and is projected to reach $37,849.8 million by 2025, registering a CAGR of 40.8% from 2018 to 2025.
Microscope Market size was valued at $1.39 billion in 2019 and is expected to reach $1.64 billion by 2027, growing at a CAGR of 3.2% from 2020 to 2027.
Interactive Kiosk Market size was valued at $14.76 billion in 2018, and is projected to reach $32.51 billion by 2027, growing at a CAGR of 9.1% from 2020 to 2027.
Streaming Devices Market size was valued at $8.00 billion in 2018 and is estimated to reach $18.97 billion by 2027, growing at CAGR of 13.2% from 2020 to 2027.
HDMI Cable Market was valued at $2.47 billion in 2018, and is projected to reach $3.87 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026.
About Us:
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.
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
India (Pune): +91-20-66346060
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/machine-vision-system-market-to-reach-159-2-billion-globally-by-2032-at-13-9-cagr-allied-market-research-302218696.html
