DUBLIN--(BUSINESS WIRE)--The "Machine Vision Market by Deployment (General & Robotic cell), Component (Hardware and Software), Product (PC-based and Smart camera-based), Application, End-user Industry & Region - Forecast till 2025" report has been added to ResearchAndMarkets.com's offering.
The global machine vision market was valued at USD 9.9 billion in 2019 and is projected to reach USD 14.7 billion by 2025, growing at a CAGR of 6.5% between 2020 and 2025.
The major driving factors in the machine vision market is the increasing need for quality inspection and automation, growing demand for vision-guided robotic systems, increasing adoption of vision-guided robotic systems, and many more.
The major players in the machine vision market are Cognex Corporation (US), Basler AG (Germany), Omron Corporation (Japan), Keyence (Japan), National Instruments (US), Sony Corporation (Japan), Teledyne Technologies (US), Texas Instruments (US), Intel Corporation (US), ISRA Vision (Germany), Sick AG (Germany) and FLIR Systems (US).
Position & Guidance to Grow at the Fastest Rate in the Machine Vision Market During the Forecast Period
Position & guidance application enables manufacturers to build multiple products on the same production line and reduces the need for expensive hard tooling to maintain part position during inspection. Also, this application helps to improve the efficiency of production processes by instantaneously detecting the positional relationship between the target and machine tool or table and helps to control the system carefully.
Automotive Industry to Hold a Major Market Share in the Machine Vision Market During the Forecast Period
The automotive industry provides several opportunities for the machine vision market. The demand for machine vision systems is increasing in the automotive sector as it provides improved accuracy in critical activities such as bin picking and positioning of parts, such as doors and panels, for assembly. Due to the shortage of skilled laborers and the reducing manufacturing prices of automobiles, automobile companies are focusing more on automation in their production processes, ultimately boosting the growth of machine vision solutions in the automotive industry.
APAC held the Largest Market Share in the Machine Vision Market Between 2020 and 2025
The machine vision market in APAC is expected to hold a major market share during the forecast period as countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities wherein automation of manufacturing processes has been taken as the highest priority. Also, strong competition among consumer electronics companies in APAC is likely to boost the adoption of machine vision systems in the region.
- This research report categorizes the global machine vision based on deployment, component, product, application, end-user industry, and geography
- The report describes the major drivers, restraints, challenges, and opportunities pertaining to the machine vision market and forecasts the same until 2025
- Increasing Need for Quality Inspection and Automation
- Growing Demand for Vision-Guided Robotic Systems
- Increasing Adoption of 3D Machine Vision Systems
- Increase in Manufacturing of Hybrid and Electric Cars
- Varying End-User Requirements
- Lack of Flexible Machine Vision Solutions
- Government Initiatives to Support Industrial Automation
- Increasing Demand for AI in Machine Vision
- Government Initiatives to Boost AI-Related Technologies
- Growing Adoption of Industry 4.0
- Need for Miniaturization of Cameras and Processors
- Rising Need for Asics
- Complexity in Integrating Machine Vision Systems
- Lack of User Awareness About Rapidly Changing Machine Vision Technology
Value Chain Analysis
- Machine Vision Component Manufacturers
- Original Equipment Manufacturers (OEMs)
- System Integrators
- Resellers and Distributors
- Key Players in the Market
- Competitive Leadership Mapping
- Competitive Benchmarking
- National Instruments
- Teledyne Technologies
- Texas Instruments
- Baumer Optronic
- Jai A/S
- Mvtec Software
- Tordivel A/S
- ISRA Vision
- FLIR Systems
- Qualitas Technologies
- Cadence Design Systems
For more information about this report visit https://www.researchandmarkets.com/r/34s7oe