DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Machine Vision Market by Component (Hardware (Camera, Frame Grabber, Optics, Processor) and Software (Deep Learning & Application Specific)), Product (PC Systems & Smart Camera Systems), Application, Vertical, and Geography - Global Forecast to 2022" report to their offering.
The overall machine vision market was valued at USD 8.12 Billion in 2015 and is expected to reach USD 14.43 Billion by 2022, growing at a CAGR of 8.15% between 2016 and 2022.
The growth of this market is driven by the increasing need for quality inspection and automation across industry verticals, surge in demand for vision-guided robotic systems in automotive, pharmaceutical, food and packaging, and industrial sectors, and growing demand for application-specific machine vision systems.
This report covers the machine vision market based on component, product, application, vertical, and geography. The hardware component held the largest size of the studied market in 2015. Rapid changes in terms of manufacturing technology, innovation, and technical advancements in automotive and pharmaceutical industries are expected to drive the machine vision market.
Under the hardware component, the camera segment held the largest size of the machine vision market and the market for the same is expected to grow at the highest rate during the forecast period. In future, the camera segment is likely to undergo more advancement with the introduction of 3D machine vision concept and is expected to bring new growth avenues for the studied market.
With regard to the application segment, the market for the identification application is expected to grow at the highest rate during the forecast period. Machine vision systems are widely used for identifying the labels, barcodes, and texts to help in the entire automatic operation of packaging. It is mostly used in healthcare and consumer packaged goods sectors to resist the counterfeit products. This system makes the process fast and eliminates duplicate packets. It is also used for security purpose such as camera surveillance, traffic monitoring, number plate recognition, lane identification, and other intelligent transportation system.
In terms of the product segment, PC-based systems held the largest market size during the forecast period. The rise in wages of labor in China and developing countries, growing number of regulatory mandates in manufacturing industries, and growing demand for application-specific machine vision systems are creating a huge demand for machine vision systems across the world.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Machine Vision Market, By Component
8 Machine Vision Market, By Product
9 Machine Vision Market, By Application
10 Machine Vision Market, By Vertical
11 Geographic Analysis
12 Competitive Landscape
13 Company Profiles
- Allied Vision Technologies Gmbh
- Basler Ag
- Baumer Optronic Gmbh
- Cognex Corporation
- Intel Corporation
- Jai A/S
- Keyence Corporation
- National Instruments Corporation
- Omron Corporation
- Sony Corporation
- Teledyne Technologies, Inc.
- Texas Instruments, Inc
For more information about this report visit http://www.researchandmarkets.com/research/wqsp9f/machine_vision