Machine Vision Market

Machine Vision Market was valued at USD 11.8 billion in 2022 and is forecast to touch USD 21.0 billion in 2030, and the market is expected to grow at a CAGR of 7.5% from 2023-2030.

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Key Drivers

The growing adoption of machine vision to prevent human contamination of clean rooms and prevent human workers from hazardous environments stands to be a major factor fueling the machine vision market growth. The emerging need for vision-guided robotic systems across the food and beverage, automotive, pharmaceutical and chemical, and packaging segments is anticipated to expand the market growth. With the growing demand for an effective, precise, and reliable inspection and measurements, the adoption of machine vision technology in industrial operations has increased, driving the market growth. Besides, the incorporation of smart cameras and image processing to perform measurements and inspections has strengthened the adoption of machine vision technology across various end-use verticals including automotive, pharmaceuticals, and food and beverage, for accurate component measurement, better analysis, and administer tolerance, is predicted to boost the market size. Other factors including the ongoing technological advancements in imaging technology, such as deep learning, hybrid sensor, machine learning, vision processing unit, advance 360-degree camera, and hyperspectral imaging, rising demand of artificial intelligence, growing trend of compact product design, and rapid industrialization will bolster the machine vision market size over the upcoming years.

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Products Segment Analysis

Smart camera-based vision system segment is expected to grow at a higher CAGR during the forecast period, owing to the increasing adoption of cameras in 3D imaging. The lower maintenance cost, user-friendliness, and easy incorporation of with existent automation systems due to simpler design as compared to the PC-based vision systems has augmented end-users to opt for smart camera-based vision systems, thereby fuelling the segment’s size.

Application Segment Analysis

Identification application segment is estimated to hold a larger share over the forecast period, owing to its increasing deployment in the packaging industry to examine and identify barcodes, texts, and labels. The growing demand of identification application for security purposes in traffic supervision, camera surveillance, recognizing number plates, etc. is forecast to expand the segment growth.

End-Use Industry Segment Analysis

Food and packaging segment is projected to dominate the machine vision market over the upcoming years, because of the growing use of machine visions to perform packaging and bottling operations. Also, Mv error-free assembly by examining closure panels such as doors, lift gates, tailgates, and other components. It also helps to improve quality and ensures food and safety, along with other exceptional features, such as safety inspection, tracking & tracing, labeling, packaging, and container integrity. Additionally, machine vision technology offers customized point & click interface that makes it more accessible for a system operator to bring out quality inspection and reduces the requirement of labor training.

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Regional Analysis

Asia Pacific is projected to dominate the market growth over the forecast period, owing to the lower labor cost. The expansion of packaging, pharmaceutical, automotive, and packaging industries in the Asia-pacific is likely to expand the regional growth. In addition, the operational benefits and intensified initiatives undertaken by the governments of developing nations such as India, South Korea, Taiwan, and Singapore, have encouraged various industry players to develop their production units in the Asia Pacific region. Furthermore, intensified investments and increasing R&D activities to improve machine vision technology has persuaded prominent players to take initiatives such as partnerships, mergers, and acquisitions, driving the machine vision market share.

Top Market Players

Various notable players in the Machine Vision Market include Cognex Corporation, Basler AG, Omron Corporation, National Instruments Corporation, Keyence Corporation, Sony Corporation, Teledyne Technologies, Inc., Texas Instruments, Inc., Allied Vision Technologies GmbH, Intel Corporation, Baumer Optronic GmbH, Jai A/S, among others.

Key Developments:

• • August 2021 – OMRON Corporation has launched the news “VT-S10 Series” PCB inspection system, which uses an industry-first imaging technology and artificial intelligence to automate the high-precision inspection process for electronic substrates, removing the need for specialized expertise.
  • January 2021 – The 3D-L4000 In-Sight® embedded vision system was introduced by Cognex Corporation. This first-of-its-kind smart camera, which uses 3D laser displacement technology, enabling engineers to perform a variety of inspections on automated manufacturing lines fast, precisely, and cost effectively.
  • In Oct 2019, Cognex Corporation announced the acquisition of SUALAB, a Korean-based developer of vision software using deep learning for industrial applications. With this acquisition, Cognex will enhance the company’s existing deep learning capabilities based on technology that were acquired from ViDi systems in Apr 2017 and will strengthen the global position in deep learning-based machine vision solution.
  • In Jul 2018, Basler AG teamed up with Beijing Sanbao Xingye (MVLZ) Image Tech. Co., Ltd., a Chinese distributor of imaging processing components to strengthen the company’s position in the Chinese market.

The Global Machine Vision Market has been segmented based on the deployment, component, product, application, End-user Industry, and region. Based on the deployment, the market is segmented into General Machine Vision System and Robotic Cell. Based on the component, the market is categorized into hardware and software. Based on hardware, the market is further segmented into cameras, frame GrABBer, optics, LED lighting, and processor. Based on software, the market is further segmented into application-specific and deep learning software. Based on the product, the market is segmented into PC-Based Machine Vision Systems, and Smart Camera-Based Vision Systems. Based on the application, the market is segmented into Quality Assurance & Inspection, Positioning & Guidance, Measurement, Identification and Predictive Maintenance. Based on End-user Industry, the market is segmented into Automotive, Electronics & Semiconductor, Consumer Electronics, Glass, Metals, Wood and Paper, Pharmaceutical, Food & Packaging, Rubber & Plastics, Printing, Machinery /Equipment, Solar Panel Manufacturing and Textile.

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Key questions answered in this research report:

• • At what pace is the global Machine Vision Market growing? What will be a growing trend in the future?
  • What are the key drivers and restraints in the global Machine Vision market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Machine Vision market?
  • Which product generated maximum revenues in 2019 and identify the most promising products during the forecast period?
  • What are the various application areas of the global Machine Vision market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2022)	USD 11.8 billion
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD billion)
Market Segment	By Deployment, By Offering, By Product, By Application, By End-user Industry, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Cognex Corporation, Basler AG, Omron Corporation, National Instruments Corporation, Keyence Corporation, Sony Corporation, Teledyne Technologies, Inc., Texas Instruments, Inc., Allied Vision Technologies GmbH, Intel Corporation, Baumer Optronic GmbH, Jai A/S, among others; A total of 12 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation:

Global Machine Vision Market by Deployment

• • General machine vision system
  • Robotic cell

Global Machine Vision Market by Offering

• • Hardware
    • Camera
      • Interface Standards
        • Camera Link
        • Gige
        • USB 3.0
        • Coaxpress
        • Others
      • Imaging Spectrum
        • Visible
        • Visible +IR/IR
      • By Frame Rate
        • <25 FPS
        • 25–125 FPS
        • >125 FPS
      • By Format
        • Line Scan
        • Area Scan
      • By Sensor Type
        • CMOS
        • CCD
      • Frame GrABBer
      • Optics
      • LED Lighting
      • Processor
        • FPGA
        • DSP
        • Microcontroller and Microprocessor
  • Software
    • Application-Specific
      Deep Learning Software

Global Machine Vision Market by Product

• • PC-Based Machine Vision Systems
  • Smart Camera-Based Vision Systems

Global Machine Vision Market by Application

• • Quality Assurance & Inspection
  • Positioning and Guidance
  • Measurement
  • Identification
  • Predictive Maintenance

Global Machine Vision Market by End-user Industry

• • Automotive
  • Electronics & Semiconductor
  • Consumer Electronics
  • Glass
  • Metals
  • Wood & Paper
  • Pharmaceutical
  • Food & Packaging
  • Rubber and Plastic
  • Printing
  • Machinery/Equipment
  • Solar Panel Manufacturing
  • Textile

Global Machine Vision Market by Region

• • North America Machine Vision Market Option 1: As a part of the free 25% customization

    • By Deployment
    • By Component
    • By Product
    • By Application
    • By End-user Industry
    • United States of America (US) Market All-Up
    • Canada Market All-Up

  • Europe Machine Vision Market Option 2: As a part of the free 25% customization

    • By Deployment
    • By Component
    • By Product
    • By Application
    • By End-user Industry
    • United Kingdom (UK) Market All-Up
    • Germany All-Up Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Machine Vision Market Option 3: As a part of the free 25% customization

    • By Deployment
    • By Component
    • By Product
    • By Application
    • By End-user Industry
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • ROW Machine Vision Market Option 4: As a part of the free 25% customization

    • By Deployment
    • By Component
    • By Product
    • By Application
    • By End-user Industry
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Machine Vision Leading Market Players (Option 5: Free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • Cognex Corporation
  • Basler AG
  • Omron Corporation
  • National Instruments Corporation
  • Keyence Corporation
  • Sony Corporation
  • Teledyne Technologies, Inc.
  • Texas Instruments, Inc.
  • Allied Vision Technologies GmbH
  • Intel Corporation
  • Baumer Optronic GmbH
  • Jai A/S