The machine vision market was valued at USD 9.12 billion in 2018 and is expected to reach USD 14.00 billion by 2024, at a CAGR of 7.11% between 2019 and 2024.
The demand for advanced manufacturing techniques with a focus on maintaining a quality standard with minimum human intervention has been growing rapidly across various industry verticals. Recent advancements in imaging technology such as deep learning software, liquid lens, vision processing unit, 360-degree camera, hyperspectral imaging, and hybrid image sensor have increased the scope for machine vision systems to be used in a wide range of applications in various industrial sectors.
The increasing awareness of consumers about product quality has led to an increase in the demand for inspection and quality assurance for end products. Companies are looking to invest in automation systems to reduce production costs and enhance quality standards. This, in turn, increases the demand for machine vision systems.
Other key factors contributing to the growth of the machine vision market include the growing demand for vision-guided robotic systems, increasing manufacturing of hybrid and electric cars, growing demand for application-specific machine vision systems, and increasing adoption of 3D machine vision. However, varying end-user requirements and lack of flexible machine vision solutions restrain the growth of the market.
In 2018, the machine vision market was dominated by Cognex Corporation (US), Basler AG (Germany), OMRON Corporation (Japan), Keyence Corporation (Japan), National Instruments (US), Sony Corporation (Japan), Teledyne Technologies, Inc. (US), Allied Vision Technologies GmbH (Germany), Texas Instruments, Inc. (US), Intel Corporation (US), Baumer Optronic GmbH (Germany), and JAI A/S (Denmark), among others.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 5.2.1.1 Increasing Need for Quality Inspection and Automation 5.2.1.2 Growing Demand for Vision-Guided Robotic Systems 5.2.1.3 Increasing Adoption of 3D Machine Vision Systems 5.2.1.4 Increase in Manufacturing of Hybrid and Electric Cars 5.2.2 Restraints 5.2.2.1 Varying End-User Requirements 5.2.2.2 Lack of Flexible Machine Vision Solutions 5.2.3 Opportunities 5.2.3.1 Government Initiatives to Support Industrial Automation 5.2.3.2 Increasing Demand for AI in Machine Vision 5.2.3.2.1 Government Initiatives to Boost Ai-Related Technologies 5.2.3.3 Growing Adoption of Industry 4.0 5.2.3.4 Need for Miniaturization of Cameras and Processors 5.2.3.5 Rising Need for Asics 5.2.4 Challenges 5.2.4.1 Complexity in Integrating Machine Vision Systems 5.2.4.2 Lack of User Awareness About Rapidly Changing Machine Vision Technology 5.3 Value Chain Analysis 5.3.1 R&D 5.3.2 Machine Vision Component Manufacturers 5.3.3 Original Equipment Manufacturers (OEMS) 5.3.4 System Integrators 5.3.5 Resellers and Distributors 5.3.6 End Users
6 Machine Vision Market, By Component 6.1 Introduction 6.2 Hardware 6.2.1 Cameras 6.2.1.1 Interface Standards 6.2.1.1.1 USB 2.0/USB 3.0 6.2.1.1.2 Camera Link 6.2.1.1.3 GIGE 6.2.1.1.4 Coaxpress 6.2.1.1.5 Others (EMVA-1288, Firewire, Genicam) 6.2.1.2 By Frame Rate 6.2.1.2.1 <25 FPS 6.2.1.2.2 25-125 FPS 6.2.1.2.3 More Than 125 FPS 6.2.1.3 By Format 6.2.1.3.1 Line Scan 6.2.1.3.2 Area Scan 6.2.1.4 By Sensor Type 6.2.1.4.1 CMOS 6.2.1.4.2 CCD 6.2.2 Frame Grabbers 6.2.3 Optics 6.2.4 LED Lighting 6.2.5 Processors 6.2.5.1 FPGA 6.2.5.2 DSP 6.2.5.3 Microcontrollers and Microprocessors 6.2.5.4 VPU 6.3 Software 6.3.1 Traditional Software 6.3.2 Deep Learning Software
7 Machine Vision Market, By Product 7.1 Introduction 7.2 PC-Based Machine Vision Systems 7.2.1 PC-Based Machine Vision Systems Have the Ability to Compensate for Unexpected Variations in Certain Tasks. 7.3 Smart Camera-Based Vision Systems 7.3.1 Smart Camera Performs Multiple Functions Without Manual Assistance By Utilizing A Processor and Computational Intelligence.
8 Machine Vision Market, By Application 8.1 Introduction 8.2 Quality Assurance & Inspection 8.2.1 Quality Assurance Application Dominates the Machine Vision Market 8.3 Positioning & Guidance 8.3.1 Robots Plays an Important Role in Positioning and Guidance System in Machine Vision. 8.4 Measurement 8.4.1 Machine Vision Measurement Tools Combined With the Right Optics and Stable Lighting Provide Precision Repeatability to Ensure Manufacturing Accuracy. 8.5 Identification 8.5.1 In Identification, Vision Systems are Used to Read Various Codes and Alphanumeric Characters, Such as Text and Numbers. 8.6 Predictive Maintenance 8.6.1 Predictive Maintenance Can Be Very Useful When There is Machine Downtime.
9 Machine Vision Market, By End-Use Industry 9.1 Introduction 9.2 Automotive 9.2.1 Machine Vision Systems Offer High Accuracy in Critical Activities Such as Bin Picking and Positioning of Parts for Assembly. 9.3 Electronics & Semiconductor 9.3.1 Demand for Machine Vision Systems in the Electronics & Semiconductor Industry is Increasing Because of the Declining Prices of Electronic Chips and the High Production 9.4 Consumer Electronics 9.4.1 3D Machine Vision Systems are Emerging as Powerful Technologies for Electronics Assembly Applications. 9.5.1 Machine Vision Improves Operational Efficiency, Traces Defects, Reduces Wastage, and Provides Detailed Statistical Information. 9.6 Metals 9.6.1 Shortage of Skilled Labour in the Market are the Two Major Factors Responsible for the Increasing Adoption of Machine Vision in the Metals Industry. 9.7 Wood & Paper 9.7.1 Machine Vision Systems Can Work Efficiently in Different Environmental Conditions, Such as Wood Dust, Heat, Smoke, Water, and Chemicals. 9.8 Pharmaceuticals 9.8.1 Stringent Government Regulations and the Increasing Need to Combat Counterfeit Products are Driving the Growth of the Machine Vision Market in This Industry 9.9 Food & Packaging 9.9.1 Food 9.9.1.1 The Machine Vision Systems are Pre-Trained With the Required Algorithms, Which Help Them Understand Characteristics Such as Size, Stage of Growth, and Variety. 9.9.2 Packaging 9.9.2.1 Machine Vision Helps in the Inspection of Packaging Processes and Reduction of Errors By Carrying Out Multiple Inspections at A Single Time. 9.10 Rubber & Plastics 9.10.1 The Machine Vision in Rubber and Plastic Industry Helps in Examine and Evaluate Parts and Determine If the Parts are Good, Bad, Or Undefined. 9.11 Printing 9.11.1 Machine Vision Ensure That the Right Pages are Used in the Right Envelopes 9.12 Machinery 9.12.1 Machine Vision Systems Help in Completing Processes Much Faster and Also Help in Detecting Defects and Validating Quality. 9.13 Solar Panel Manufacturing 9.13.1 Industrial Machine Vision-Based Inspection is an Important Tool for Inspecting the Quality of Solar Panels. 9.14 Textiles 9.14.1 Machine Vision Systems Help Manufacturers Produce High-Quality Textiles While Minimizing the Costs and Maximizing the Profits.
10 Geographic Analysis
11 Competitive Landscape 11.1 Overview 11.2 Key Players in the Machine Vision Market 11.3 Competitive Leadership Mapping 11.3.1 Visionary Leaders 11.3.2 Dynamic Differentiators 11.3.3 Innovators 11.3.4 Emerging Companies 11.4 Strength of Product Portfolio (25 Companies) 11.5 Business Strategy Excellence (25 Companies) 11.6 Competitive Scenario 11.6.1 Product Launches and Developments 11.6.2 Partnerships, Collaborations, and Agreements 11.6.3 Mergers & Acquisitions
12 Company Profile 12.1 Key Players 12.1.1 Cognex 12.1.2 Basler 12.1.3 Omron 12.1.4 Keyence 12.1.5 National Instruments 12.1.6 Sony 12.1.7 Teledyne Technologies 12.1.8 Texas Instruments 12.1.9 Intel 12.1.10 Baumer Optronic 12.1.11 JAI A/S 12.1.12 Mvtec Software 12.1.13 Tordivel As 12.1.14 Isra Vision 12.1.15 Sick 12.1.16 Flir Systems 12.2 Startup-Ecosystem 12.2.1 Ametek 12.2.2 Qualitas Technologies 12.2.3 Sualab 12.2.4 Algolux 12.2.5 Clarifai 12.2.6 Cadence Design Systems 12.2.7 Inuitive
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