Triton Market Research presents their Global Machine Vision Market report, segmented by components (hardware and software), type (1D, 2D and 3D machine vision), application (inspection, gauging, guidance, identification, and other applications), end-users (automotive, electronics & semiconductor, healthcare, food & packaging and other end-users) and by regions (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - discussing Industry Value Chain Analysis, Porter's 5 Force Analysis, Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2019-2027).
Triton Market Research expects the Global Machine Vision market to witness a compound annual growth rate of 8.61% during the forecasted period of 2019-2027. Growing applications in industries like automotive, packaging, food and beverages, pharmaceuticals and security and surveillance are propelling this market’s growth.
The software component of the market is expected to showcase the highest CAGR by the end of 2027. By type, the 3D machine vision market segment is anticipated to grow significantly. This type of system majorly finds application in the automotive industry where the object is hard to access by the 2D or 1D machine visions systems.
Asia-Pacific reigns the global machine vision market in terms of both revenue and CAGR. Countries like China, India, Japan and South Korea are the major contributors to this region. China contributed the highest revenue share in 2018. The national program of “Made in China 2025” seeks to make China a powerhouse in terms of industrial automation and robotics over the next eight years and this has been acting as a major factor boosting the market growth.
Some of the noted companies that are engaged in this market are Omron Corporation, Keyence Corporation, Baumer Optronic GmbH, Basler AG, USS Vision Inc., Datalogic Spa, Teledyne Technologies Inc., Cognex Corporation, Optotune AG, and Allied Vision Technologies GmbH.
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