Machine Vision Market Growth, Key Trends & Factor Driving Industry till 2030

Global Machine Vision Market Overview and Insights:

Machine Vision Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.

What is the Future Market Size of the Machine Vision Industry and its Yearly Growth Rate?

The Global Machine Vision Market size is valued at USD 13.1 billion in 2024 is estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2024-30. The market growth of machine vision components in the automotive sector is due to increased demand and adoption. Increased road accidents and traffic around the world have also created a necessity for more reliable and efficient vehicles. Machine vision systems installed on cars such as cameras, frame grabbers, processors, etc., ensure that automobile parts are assembled with precision and quality control which has led to an increase in the demand for machine vision components within the automotive industry.

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Who are the Main Competitors Driving the Global Machine Vision Market Forward?

The prominent players essentially operating in the Machine Vision Market are as follows:

Cognex Corporation
Basler AG
Keyence Corporation
Teledyne Technologies
TKH Group
Omron Automation
Emerson Electric Co.
Sick Ag
Sony Corporation
Intel Corporation
Texas Instruments Incorporated
Ametek Inc.
Qualitas Technologies Pvt Ltd
Baumer India Pvt Ltd
Optotune
Others

What are the key Drivers Defining the Global Machine Vision Market Size?

Proliferation in Electronics Manufacturing Boosting Machine Vision Market Growth – The increasing demand for consumer electronics such as mobile phones, laptops, washing machines, refrigerators, etc., across the globe has been surging the manufacturing of electronics and electronic parts worldwide. The rising consumer inclination towards smart home devices, 5G devices, routers, etc., has been further increasing the overall electronic manufacturing sector. The intricate designs and complex manufacturing processes of consumer electronic parts require precise and consistent solutions to ensure the quality of the electronic products. Machine vision solutions with cameras, sensors, frames, processors, etc., enable advanced inspection and quality control of the electronic, thereby increasing their adoption. Moreover, machine vision solutions detect minute defects in the circuit boards, semiconductor chips, etc., which further increase their adoption in electronic manufacturing. Additionally, the machine vision systems often enabled with AI (Artificial Intelligence) technologies enable the manufacturers to control their unit operations in electronic manufacturing at each step precisely which further augments their adoption in the overall electronic manufacturing sector. Companies such as Cognex Corporation, Texas Instruments, etc., have been launching various AI-enabled machine vision solutions for the electronics industry, which is further increasing the growth of the Global Machine Vision Market.

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What is the Segmentation of the Global Machine Vision Market?

The Machine Vision market covered in this report is segmented –

By Component
- Hardware- Market Size Forecast 2019-2030, USD Million
  - Cameras- Market Size Forecast 2019-2030, USD Million
  - Optics- Market Size Forecast 2019-2030, USD Million
  - Frame Grabbers- Market Size Forecast 2019-2030, USD Million
  - LED Lighting- Market Size Forecast 2019-2030, USD Million
  - Others (Processors, Sensors, etc.) - Market Size Forecast 2019-2030, USD Million
- Software- Market Size Forecast 2019-2030, USD Million
  - Deep Learning Software- Market Size Forecast 2019-2030, USD Million
  - Image Acquisition Software- Market Size Forecast 2019-2030, USD Million
  - Image Processing Software- Market Size Forecast 2019-2030, USD Million
  - Others (Application Software, Open Source Software, etc.) - Market Size Forecast 2019-2030, USD Million
- Services - Market Size Forecast 2019-2030, USD Million

Out of them all, the hardware segment holds a considerable market share in the machine vision market globally driven by the increasing incorporation of various cameras, processors, sensors, lenses, etc., in the manufacturing units.

By End User
- Automotive- Market Size Forecast 2019-2030, USD Million
- Electronics- Market Size Forecast 2019-2030, USD Million
- Food and Beverages- Market Size Forecast 2019-2030, USD Million
- Healthcare- Market Size Forecast 2019-2030, USD Million
- Textile- Market Size Forecast 2019-2030, USD Million
- Others (Retail, Printing, etc.) - Market Size Forecast 2019-2030, USD Million
By Application
- Quality Assurance Inspection- Market Size Forecast 2019-2030, USD Million
- Guidance Navigation- Market Size Forecast 2019-2030, USD Million
- Identification Verification- Market Size Forecast 2019-2030, USD Million
- Others (Process Control, Management, etc.) - Market Size Forecast 2019-2030, USD Million
By Product Type
- PC-Based Machine Vision- Market Size Forecast 2019-2030, USD Million
- Smart Camera-Based Machine Vision- Market Size Forecast 2019-2030, USD Million
By Technology
- 1-D- Market Size Forecast 2019-2030, USD Million
- 2-D- Market Size Forecast 2019-2030, USD Million
- 3-D- Market Size Forecast 2019-2030, USD Million
By Deployment
- General- Market Size Forecast 2019-2030, USD Million
- Robotic Cell- Market Size Forecast 2019-2030, USD Million
By Region
- North America
- South America
- Europe
- The Middle East Africa
- Asia-Pacific

Key Questions Answered in the Research Report

What is the predicted Machine Vision market size and growth rate for the years 2024-30?
What challenges are restricting the growth of the Machine Vision market?
Which segment accounted for the largest market share in the Machine Vision market?
Which prominent companies are leading growth in the Machine Vision market?
In what formats does Markntel Advisors deliver the concerned report descriptions?
How long does it take for customers to receive the reports provided by Markntel Advisors?
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