ALBANY, N.Y.--(BUSINESS WIRE)--According to a report titled “Surface Vision and Inspection Market (Camera, Lighting equipment, Optics, Frame grabber, and Software and hardware) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019” from Transparency Market Research, the global surface vision and inspection market will be worth US$2.31 billion in 2019, growing at an 8.9% CAGR from 2013 to 2019.
Rising need to reduce dependency on labor and to minimize manufacturing errors, and demand for high-quality products are factors driving the surface vision and inspection market.
By type, the surface vision and inspection market is bifurcated into camera systems and computer systems. Computer-based systems dominated the market in terms of revenue. However, the camera-based systems segment is projected to grow at the fastest pace from 2013 to 2019. The key components of surface vision and inspection include lighting, camera, frame grabbers, hardware and software, and optics. Of these, cameras held a 48.1% share of the market in 2012.
The application industries of surface vision and inspection include pharmaceutical, printing, wood and paper, rubber and plastics, automotive, electrical/electronics, semiconductor, medical, and metal.
Asia Pacific leads the global surface vision and inspection market in terms of revenue, with a 32.3% share in 2012. The growth of automation industries in emerging economies such as China, India, Australia, Taiwan, and Thailand has greatly supported the surface vision and inspection market in Asia Pacific.
The prominent participants of the global surface vision and inspection market include Cognex, Toshiba Teli Corp, Adept Technology Inc., ISRA VISION, Perceptron Inc., Panasonic Corp, Edmund Inc., Matrox Imaging, and Edmund Optics Inc. Cognex emerged as the leader of the surface vision and inspection market in 2012, accounting for a 14.5% share.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.