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Machine Vision (MV) Market to Grow by USD 8.94 Billion from 2024-2028, Driven by Cost Savings in Operations, AI Impact on Market Trends Highlighted – Technavio

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NEW YORK, Oct. 8, 2024 /PRNewswire/ — Report on how AI is redefining market landscape- The global machine vision (mv) market  size is estimated to grow by USD 8.94 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 10.87%  during the forecast period.  Significant cost savings in operation due to process control is driving market growth, with a trend towards increasing incorporation of thermal inspection in machine vision systems. However, intense competition among machine vision vendors  poses a challenge. Key market players include Adimec Advanced Image Systems bv, ADLINK Technology Inc., Advantech Co. Ltd., AFRY AB, Basler AG, Baumer Holding AG, Cognex Corp., Datalogic SpA, DATASENSOR India PVT. LTD., Industrial Vision Systems Ltd., Intel Corp., iX Cameras Ltd, JAI AS, Keyence Corp., OMRON Corp., Optronis GmbH, Sony Group Corp., Teledyne Technologies Inc., TKH Group NV, and Toshiba Corp..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Industrial and Non-industrial), Type (Vision system, Cameras, and Others), 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, ADLINK Technology Inc., Advantech Co. Ltd., AFRY AB, Basler AG, Baumer Holding AG, Cognex Corp., Datalogic SpA, DATASENSOR India PVT. LTD., Industrial Vision Systems Ltd., Intel Corp., iX Cameras Ltd, JAI AS, Keyence Corp., OMRON Corp., Optronis GmbH, Sony Group Corp., Teledyne Technologies Inc., TKH Group NV, and Toshiba Corp.

Key Market Trends Fueling Growth

Machine vision market has witnessed significant advancements in 2D and 3D imaging technologies. Thermal inspection, a type of infrared imaging, has experienced notable improvements. Thermal inspection provides valuable data through infrared imaging science. With expanding product portfolios, machine vision vendors introduce thermal imaging, despite its high cost and weight. Thermal inspections offer Ethernet and camera links, aligning with machine vision conventions. This integration of thermal inspection into machine vision systems is projected to positively impact the global market, as it enhances capabilities and broadens applications. 

The Machine Vision (MV) market is thriving with trends like object detection, pattern recognition, and precision taking center stage. Businesses are leveraging MV for product inspection and quality control, ensuring product consistency, integrity, and safety. Operational efficiency is a key focus, with MV solutions streamlining production processes and enhancing productivity. Real-time decision-making is made possible through MV systems, enabling operational practices to adapt quickly. MV is not just for manufacturing but also finds applications in agriculture and vehicle assembly. Advanced technologies like AI, robotics, and compact solutions are driving innovation. The market caters to various industries, offering cost-effective, automated inspection systems and software components. Tablets and smart camera-based systems make MV accessible to all. Despite complexities, MV solutions deliver on safety, asset utilization, and process control, making them an essential part of modern production lines. MV’s role extends beyond inspection, with applications in robot guidance and autonomous vehicles. It’s about ensuring assembly accuracy, maintaining safety standards, and enhancing product quality. The market offers various software and hardware solutions, catering to diverse industries and application sites. Skilled professionals are in demand to install, maintain, and optimize these systems. From cracks in welds to missing parts, MV solutions provide the accuracy and reliability businesses need. 

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Market Challenges

The machine vision market experiences intense competition due to an influx of vendors offering similar equipment and systems. Price wars have ensued, narrowing profit margins. End-users’ expectations are escalating, fueled by rapid technological advancements from standard cameras to smart cameras. Additionally, the availability of affordable equipment increases competition, potentially challenging the market’s growth during the forecast period. Vendors must differentiate themselves through innovation and value-added services to maintain a competitive edge.The Machine Vision (MV) market is experiencing significant growth due to increasing automation and data-driven decision-making in various industries. Key application sites include Manufacturing factories, Food & Packaging industry, and Healthcare. Challenges such as defect detection and identification in Agriculture and Autonomous vehicles are being addressed through advanced AI and analysis techniques. MV systems enable automated inspection systems, improving assembly accuracy, asset utilization, and customer satisfaction. Cost-effective, compact solutions are essential for general deployment. Complexities like cracks in welds and labeling precision are tackled with cutting-edge technologies like deep learning capabilities. Components such as cameras, frame grabbers, and lighting play a crucial role. Industry regulations and support are essential for widespread adoption. The MV ecosystem includes hardware, integration of components, and IoT, aiming for efficiency and labor efficiency. The market continues to grow, driven by the need for higher quality, less downtime, and improved efficiency.

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Segment Overview 

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

End-user 1.1 Industrial1.2 Non-industrialType 2.1 Vision system2.2 Cameras2.3 OthersGeography 3.1 APAC3.2 North America3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Industrial-  The Machine Vision (MV) market refers to the use of computers to analyze and interpret visual information from the physical world. This technology is essential in various industries, including manufacturing, healthcare, and automotive, for tasks like quality control, defect detection, and assembly. Companies invest in MV systems to increase efficiency, reduce errors, and improve product quality. The market is expected to grow due to advancements in AI and machine learning, which enhance the capabilities of MV systems.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Machine Vision (Mv) market is a dynamic and growing industry that leverages AI, analysis techniques, and automated inspection systems to enhance efficiency and accuracy in various application sites, including Agriculture and the Food & Packaging industry. Mv systems utilize cameras, frame grabbers, and deep learning capabilities to identify and analyze defects, ensuring asset utilization and reducing downtime. Compact solutions are increasingly popular for their cost-effective and autonomous capabilities, addressing complexities in automation and labor efficiency. IoT integration further enhances the potential of Mv systems, enabling real-time data analysis and improving overall performance.

Market Research Overview

The Machine Vision (Mv) market encompasses cutting-edge technologies and applications in various industries, including Agriculture, Food & Packaging, Manufacturing, Healthcare, and Autonomous Vehicles. Mv systems utilize AI, analysis techniques, and image processing for defect detection, identification, and analysis. These systems offer increased efficiency, asset utilization, and operational practices through automated inspection systems, robot guidance, and real-time decision-making. Mv components include cameras, frame grabbers, optics, lighting, and software, which must be integrated for optimal performance. Complexities such as industry regulations, safety standards, and data-driven decision-making require skilled professionals and cost-effective, compact solutions. Mv applications include object detection, pattern recognition, and labeling accuracy, contributing to product consistency, product quality, and customer satisfaction. Mv systems are essential for industries with high production lines and processes, such as manufacturing factories, where downtime and missing parts can significantly impact operational efficiency and product integrity. The Mv market continues to evolve with the integration of IoT, deep learning capabilities, and industry support, offering a machine vision ecosystem for various application sites.

Table of Contents:

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

End-userIndustrialNon-industrialTypeVision SystemCamerasOthersGeographyAPACNorth 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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StreamFab Accelerates Innovation with Frequent Launch of New Services

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From July to the present, it has introduced support for several VIP services, including WOW TV, NOW, Myfans, TVer, and WOWOW, showcasing an astounding pace of innovation. We invite everyone to continue anticipating StreamFab’s future endeavors.

LOS ANGELES, Oct. 8, 2024 /PRNewswire-PRWeb/ — StreamFab, the industry-leading video downloader, has announced an impressive rate of innovation as it continues to roll out new services and features. Since its launch in 2018, StreamFab has achieved over 100 million downloads globally, solidifying its position as a go-to solution for avid streamers. Notably, the application has maintained an average of 50+ updates each year, enhancing user experience and expanding its capabilities.

Since July 2024, StreamFab has introduced support for multiple premium services including WOW TV Downloader, NOW Downloader, myfans Downloader, TVer Downloader, WOWOW Downloader, etc. This rapid expansion reflects the company’s commitment to meeting the diverse needs of its user base by consistently integrating new content options into its platform.

As part of its ongoing strategy, StreamFab is dedicated to providing users with the latest tools to enjoy their stream videos offline. By purchasing the StreamFab All-in-One package along with the New Product Guarantee (NPG), users can access all newly launched services free of charge within the validity period of the NPG. Given StreamFab’s current pace of development, this offering presents exceptional value for users looking to maximize their streaming experience.

“We are thrilled to continue our streak of innovation at StreamFab,” said Erika, Marketing of StreamFab. “Our team is working tirelessly to enhance our services and provide our users with the best video downloading solutions available. We believe that our recent additions will only serve to elevate our users’ experience.”

As StreamFab forges ahead, users can expect even more exciting developments and features in the near future. Stay tuned for further updates from StreamFab as it continues to push the boundaries of video downloading technology.

Media Contact

Erika Leen, DVDFab Software, 1 07452217410, erika@dvdfab.cn, DVDFab Software

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View original content:https://www.prweb.com/releases/streamfab-accelerates-innovation-with-frequent-launch-of-new-services-302270933.html

SOURCE StreamFab

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ACT³ to Embrace the GIGA and AI eras

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SAO PAULO, Oct. 9, 2024 /PRNewswire/ — At 2024 LATAM Fiber Broadband Leaders Summit, Gary Lu, President of Huawei Carrier Network Marketing & Solution Sales Dept, delivered a speech titled “ACT3 to Embrace the GIGA and AI eras”. “ACT” is the revenue model of fixed broadband business. A means ARPU, C is about coverage of service, and T stands for take-up rate. Coverage multiplies Take-up rate is about user base, and ARPU is the key to increase the revenue.

Gary Lu analyzed the rapid development of carriers’ optical broadband networks and AI technologies in LATAM and across the world. He also proposed three development strategies — all-optical transition, gigabit transition, and scenario transition. “ACT” to the power of three, means the three transitions is the way to increase the user base and the revenue of FBB service, and it will also bring the quality of digital life to LATAM.

All-Optical Transition: Accelerating Cable-to-Fiber Transition to Secure Business Success of Broadband Services

Currently, the number of FTTH users in LATAM is experiencing a significant increase. Fiber broadband has replaced traditional cable broadband as the leading form of broadband. The fiber broadband service is one of fastest-growing business in LATAM and the CAGR of FTTH subscription is over 20% since 2021. Many local carriers have greatly improved O&M efficiency, and gained significant business returns by developing FTTH services. The fiber broadband market has great potential. Meanwhile, with large-scale production, the cost of FTTH equipment is being optimized. Therefore, now is a good time to invest in the construction of FTTH.

Gigabit Transition: Acceleration and Quality Improvement, Meeting Digital and AI Service Requirements

Gigabit optical broadband achieves higher network speeds, and plays a critical role in meeting digital and AI service requirements. For example, 4K/8K live streaming, VR service, and home office require sufficient bandwidth. Wi-Fi 6, Wi-Fi 7, and Huawei’s iFTTR F50 solution, can help carriers expand Wi-Fi coverage and explore business opportunities for gigabit smart home. So, the gigabit transition is also an opportunity for the future.

Industry predicts that in the next three years, the proportion of 500Mbps+ broadband users will reach 30%, while the proportion of gigabit broadband users will reach 10% in LATAM.

Scenario Transition: Providing Diversified and Scenario-Specific Services to Explore Personalized User Market

The application scenarios of optical broadband are no longer limited to traditional home entertainment. Amid the continuous growth of network speeds and Internet services, many diversified application scenarios like home office and live streaming emerge. In LATAM, the growth of the live streaming economy and rider economy intuitively showcases the business potential of optical broadband for carriers in new scenarios. Huawei is willing to explore innovative business models and provide services that better meet users’ personalized requirements with carriers.

In the AI era, its development relies on massive data, powerful computing, and high-speed networks, which happen to be the carriers’ strengths. Carriers can build home hub with media computing hosts to connect smart devices, and provide better services. Provide high-speed and stable network support for AI applications through technologies such as FTTR. Use powerful AI in the cloud with smart devices to offer personalized services. Within these, carriers can seize the opportunity of the AI era.

Huawei is developing ICT business in LATAM over 20 years, and willing to share business experience and the support technology. Huawei will be one of the best strategic partners for carriers to embrace more business opportunities in the GIGA and AI era for digital LATAM.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/act-to-embrace-the-giga-and-ai-eras-302270845.html

SOURCE Huawei

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The Asia Pacific Enterprise Awards 2024 Regional Edition Honors Thailandpost Co., Ltd. with Awards Under the Corporate Excellence and Inspirational Brand Categories

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SINGAPORE, Oct. 9, 2024 /PRNewswire/ — Presented by leading regional NGO Enterprise Asia, the Asia Pacific Enterprise Awards (APEA) 2024 Regional Edition proudly celebrated Asia’s leading business leaders and enterprises that are guiding the future of inclusive entrepreneurship.

At the APEA 2024 Regional Edition, Thailandpost Co., Ltd. (THP) gained recognition under the Corporate Excellence and Inspirational Brand Categories. The organization’s business is divided into five categories: (1) Transport and logistics services, focusing on Domestic Express Mail Service; (2) Mail services with Domestic Letter Post being the main service; (3) International services focusing on International Express Mail Service; (4) Retail business with envelopes and carton boxes being the main products; and (5) Financial services focusing on Cash on Delivery Service.

THP positions its brand as “Your Trusted Power” by maintaining its value as a companion to Thai people since its early days. The company creates value by being an organization of stability and a brand that’s ever-ready to deliver power to Thais by providing a diverse range of quality services, and an ability to meet the diverse needs of customers through its varied business groups.

Through its success in operations covering both enhancement of service quality and long-term commitment to the creation of a reputable brand image, THP was able to enjoy profits again in 2023, after being affected by constant price competition in 2021-2022.

The company also considers it essential to develop its personnel in line with its operational direction to drive the organization to sustainability. This is done either by encouraging the personnel to attain lifelong learning skills, learning the skills required to carry out their duties and develop new skills, or by constantly evaluating the personnel’s competency in order to prepare a development plan in accordance with their determined career paths.

THP is determined to be a navigator that connects every business-customer relationship to success at every destination. It will also be working to continuously develop by adjusting its operational direction in order to increase its service network from a physical network to a digital one via its significant projects.

PR Newswire is the Official News Release Distribution Partner of the Asia Pacific Enterprise Awards (APEA) 2024 Regional Edition.

About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are an investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs, and other organizations to promote competitiveness and entrepreneurial development, uplift the economic status of people across Asia, and ensure a legacy of hope, innovation, and courage for future generations. Please visit www.enterpriseasia.org for more information.

About Asia Pacific Enterprise Awards
Launched in 2007, the Asia Pacific Enterprise Awards is the region’s most prestigious award for outstanding entrepreneurship, continuous innovation, and sustainable leadership. The Award provides a platform for companies and governments to recognize entrepreneurial excellence, hence spurring greater innovation, fair business practices, and growth in entrepreneurship. As a regional award, it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation-only networking powerhouse. The program has grown to encompass 16 countries/regions and markets all over Asia. For further information, please visit www.apea.asia.

View original content:https://www.prnewswire.com/apac/news-releases/the-asia-pacific-enterprise-awards-2024-regional-edition-honors-thailandpost-co-ltd-with-awards-under-the-corporate-excellence-and-inspirational-brand-categories-302270870.html

SOURCE Enterprise Asia

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