Market by Type, Components, Application, Vertical, and Regional Outlook | Forecast 2022-2028
Machine vision
technology enhances quality management & productivity of businesses, and also
offers them a competitive advantage. Machine vision systems uses sensors & industrial
cameras with dedicated optics to obtain images, then process the software, and analyze
& measure numerous characteristics for decision-making.
According to an analysis by Triton Market Research, the Global Machine Vision Market is likely to reach $17.72 billion by 2028 from $10.58 billion in 2021, with a CAGR of 7.55% during the forecast period 2022-2028.
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MARKET PERFORMANCE: DRIVERS, CHALLENGES, AND TRENDS
Factors
such as the increased need for smart factories, widening applications of MV
systems, rising need for proper defect detection, and growing trend of
miniaturized products; are expected to foster the growth of the market over the
forecast period. A smart factory results in the complete
automation of facilities, helping reduce defects, human involvement, operational
costs, & machine downtime, expand operational control & expand
information sharing, and avoid major factory accidents. The leading countries
for manufacturing, like China and Germany, have started to upgrade their
factories to smart factories involving complete automation to stay ahead of the
competing nations. This will result in increased digital inspection and the setting
up of advanced processes to monitor the product flow, thereby resulting in the growth
of the market.
Machine vision, as a
product, has evolved from a single solution system to a multi-solution system. However, a skilled workforce is required to
efficiently operate the system. This is one of the major challenges faced by
vendors in the market. Furthermore, complications associated with the implementation
of MV systems, lack of standardization, and unawareness about the benefits of these
systems are some of the key restraining factors of the machine vision market.
Cloud technology has evolved over the years, and its integration has emerged as a key trend. Companies worldwide are looking to implement this technology as a basic business enabler in the changing and competitive business environment. Since cloud technology can be used to upload and retrieve critical data anytime and anywhere with 24*7 access, the users and vendors of machine vision systems are also looking to the cloud as the next innovation in the machine vision market. Moreover, cloud adoption also helps increase operational efficiency, reduces costs, increases flexibility, and offers easy customization, better storage, & easy access.
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KEY GEOGRAPHIES COVERED:
· North America: United States and Canada
· Europe:
United Kingdom, France, Germany, Spain, Italy, Russia, and Rest of Europe
· Asia-Pacific:
China, Japan, India, Australia, South Korea, ASEAN countries, and Rest of Asia-Pacific
· Latin America: Brazil, Mexico, and Rest of Latin America
· Middle East and Africa: Saudi Arabia, Turkey, the United Arab Emirates, South Africa,
and Rest of Middle East & Africa
SEGMENTATION ANALYSIS – MACHINE VISION MARKET:
Market by Type:
·
1D Machine Vision
·
2D Machine Vision
·
3D Machine Vision
3D
machine vision is likely to be the fastest-growing type.
The deployment of 3D machine vision systems is on the rise as they offer precise,
real-time information to improve performance. They spot objects irrespective of
their position. Consequently, robots have more flexibility and individuality
compared to their 2D-only counterparts.
Market by Component:
·
Hardware
o
ASMV
o
Cameras
o
Sensors
o
Illuminations
o
Processors
o
Other
Hardware Components
·
Software
Market by Application:
·
Inspection
·
Gauging
·
Guidance
·
Identification
·
Other Applications
Market by Verticals:
·
Automotive
·
Electronics &
Semiconductors
·
Healthcare
·
Food & Packaging
·
Other Verticals
Electronics & semiconductors
was the largest vertical in 2021. In order to handle the
quality assurance and inspection of mass production of consumer electronic
products, smart camera-based vision systems are being used in the industry.
Manufacturers in the
consumer electronics industry are adopting machine vision systems for their
most challenging applications to attain high quality standards, reduced
defects, short product lifecycles, increased speed of production quick return
on investment on equipment.
For instance, Foxconn
Technology Group, which develops and manufacture computers, communications, and
consumer electronic (3C) products, implemented a machine vision system.
COMPETITIVE LANDSCAPE:
The competitive
landscape helps dive into data about the key players in the machine vision
market. The strategic initiatives for each of the companies considered have
been covered in detail.
Acquisition (December 2021): Basler acquired Datvision and
Iovis
Korea-based Datvision
and Iovis were acquired by Basler, which is expected to expand Basler’s
business in Asia.
Product Launch (December 2021): Omron Corporation
introduced K7TM
K7TM, which can monitor
the deterioration propensities of heater equipment used in the manufacturing
processes of automobiles and semiconductors, was introduced by Omron
Corporation.
Key Benefits of the Report:
·
Triton Market Research has a
collective experience of 25-30 years in the industry, with its analysts and
experts encompassing the most infallible research methodology for its market
intelligence and industry analysis.
·
Our research methodology helps
in achieving a broader consensus of the market size, shape, and industry trends
within each industry segment.
· The strategy adopted in
designing the research methodology includes the amalgamation of the information
assembled from primary and secondary sources, with the assistance of analytical
tools to construct the forecast and predictive models.
·
The scope of the market report
comprises the current scenario of the global application security market, along
with the detailed overview of the industry outlook, market dynamics,
segmentation analysis, regional outlook, and competitive landscape for the
period 2022-2028.
FAQs:
Q 1) On what parameters is the impact of COVID-19 on the
machine vision market analyzed in this report?
The market study has
analyzed the impact of COVID-19 on the machine vision market qualitatively as well as
quantitatively.
Q 2) Which is a promising vertical that can prove to be a key
investment pocket in coming years?
Food & packaging is
a promising vertical. Manufacturers
in the food & beverage industry are incrementally adopting the use of
automation to meet the guidelines and regulations set by the industry associations
for ensuring the maintenance of the quality of products offered.
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1. GLOBAL
MACHINE VISION MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE MACHINE VISION INDUSTRY
2.2. KEY
INSIGHTS
2.2.1. INTEGRATION
OF MACHINE VISION WITH CLOUD TECHNOLOGY
2.2.2. ASIA-PACIFIC
DOMINATES THE MARKET
2.2.3. 3D
MEASUREMENT IS THE FASTEST EVOLVING TYPE
2.2.4. GROWING
INTEREST FOR AUTOMATION IN INDUSTRIAL APPLICATIONS
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF SUPPLIERS
2.3.4. BARGAINING
POWER OF BUYERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. KEY
IMPACT ANALYSIS
2.4.1. ACCURACY
2.4.2. COST-EFFECTIVENESS
2.4.3. FLEXIBILITY
2.5. MARKET
ATTRACTIVENESS INDEX
2.6. KEY
MARKET STRATEGIES
2.6.1. ACQUISITIONS
2.6.2. PRODUCT
DEVELOPMENTS
2.6.3. INVESTMENTS
& EXPANSIONS
2.7. MARKET
DRIVERS
2.7.1. INCREASED
NEED FOR SMART FACTORIES
2.7.2. WIDENING
APPLICATIONS OF MV SYSTEMS
2.7.3. RISING
NEED FOR PROPER DEFECT DETECTION
2.7.4. GROWING
TREND OF MINIATURIZED PRODUCTS
2.8. MARKET
CHALLENGES
2.8.1. LACK
OF EXPERTISE
2.8.2. UNAWARENESS
ABOUT THE BENEFITS OF MV SYSTEMS
2.8.3. COMPLICATIONS
IN IMPLEMENTATION OF MV SYSTEMS
2.8.4. LACK
OF STANDARDIZATION
2.9. MARKET
OPPORTUNITIES
2.9.1. CONSTANT
DEVELOPMENTS IN CMOS IMAGE SENSORS
2.9.2. INDUSTRIAL
INTERNET OF THINGS (IIOT) TO OFFER LUCRATIVE GROWTH OPPORTUNITIES
3. GLOBAL
MACHINE VISION MARKET OUTLOOK – BY TYPE
3.1. 1D
MACHINE VISION
3.2. 2D
MACHINE VISION
3.3. 3D
MACHINE VISION
4. GLOBAL
MACHINE VISION MARKET OUTLOOK – BY COMPONENTS
4.1. HARDWARE
4.1.1. ASMV
4.1.2. CAMERAS
4.1.3. SENSORS
4.1.4. ILLUMINATIONS
4.1.5. PROCESSORS
4.1.6. OTHER HARDWARE
4.2. SOFTWARE
5. GLOBAL
MACHINE VISION MARKET OUTLOOK – BY APPLICATION
5.1. INSPECTION
5.2. GAUGING
5.3. GUIDANCE
5.4. IDENTIFICATION
5.5. OTHER
APPLICATIONS
6. GLOBAL
MACHINE VISION MARKET OUTLOOK – BY VERTICALS
6.1. AUTOMOTIVE
6.2. ELECTRONICS
& SEMICONDUCTORS
6.3. HEALTHCARE
6.4. FOOD
& PACKAGING
6.5. OTHER
VERTICALS
7. GLOBAL
MACHINE VISION MARKET – REGIONAL OUTLOOK
7.1. NORTH
AMERICA
7.1.1. MARKET
BY TYPE
7.1.2. MARKET
BY COMPONENTS
7.1.2.1. MARKET
BY HARDWARE
7.1.3. MARKET
BY APPLICATION
7.1.4. MARKET
BY VERTICALS
7.1.5. COUNTRY
ANALYSIS
7.1.5.1. UNITED
STATES
7.1.5.2. CANADA
7.2. EUROPE
7.2.1. MARKET
BY TYPE
7.2.2. MARKET
BY COMPONENTS
7.2.2.1. MARKET
BY HARDWARE
7.2.3. MARKET
BY APPLICATION
7.2.4. MARKET
BY VERTICALS
7.2.5. COUNTRY
ANALYSIS
7.2.5.1. UNITED
KINGDOM
7.2.5.2. GERMANY
7.2.5.3. FRANCE
7.2.5.4. SPAIN
7.2.5.5. ITALY
7.2.5.6. RUSSIA
7.2.5.7. REST
OF EUROPE
7.3. ASIA-PACIFIC
7.3.1. MARKET
BY TYPE
7.3.2. MARKET
BY COMPONENTS
7.3.2.1. MARKET
BY HARDWARE
7.3.3. MARKET
BY APPLICATION
7.3.4. MARKET
BY VERTICALS
7.3.5. COUNTRY
ANALYSIS
7.3.5.1. CHINA
7.3.5.2. JAPAN
7.3.5.3. INDIA
7.3.5.4. SOUTH
KOREA
7.3.5.5. ASEAN
COUNTRIES
7.3.5.6. AUSTRALIA
& NEW ZEALAND
7.3.5.7. REST
OF ASIA-PACIFIC
7.4. LATIN
AMERICA
7.4.1. MARKET
BY TYPE
7.4.2. MARKET
BY COMPONENTS
7.4.2.1. MARKET
BY HARDWARE
7.4.3. MARKET
BY APPLICATION
7.4.4. MARKET
BY VERTICALS
7.4.5. COUNTRY
ANALYSIS
7.4.5.1. BRAZIL
7.4.5.2. MEXICO
7.4.5.3. REST
OF LATIN AMERICA
7.5. MIDDLE
EAST AND AFRICA
7.5.1. MARKET
BY TYPE
7.5.2. MARKET
BY COMPONENTS
7.5.2.1. MARKET
BY HARDWARE
7.5.3. MARKET
BY APPLICATION
7.5.4. MARKET
BY VERTICALS
7.5.5. COUNTRY
ANALYSIS
7.5.5.1. UNITED
ARAB EMIRATES
7.5.5.2. SAUDI
ARABIA
7.5.5.3. TURKEY
7.5.5.4. SOUTH
AFRICA
7.5.5.5. REST
OF MIDDLE EAST & AFRICA
8. COMPETITIVE
LANDSCAPE
8.1. COGNEX
CORPORATION
8.2. ALLIED
VISION TECHNOLOGIES GMBH
8.3. BASLER
AG
8.4. TELEDYNE
TECHNOLOGIES INCORPORATED
8.5. BAUMER
ELECTRIC AG
8.6. DATALOGIC
SPA
8.7. USS
VISION
8.8. KEYENCE
CORPORATION
8.9. FLIR
SYSTEMS INC
8.10. JAI AS
8.11. PERCEPTRON
INC
8.12. OPTOTUNE
AG
8.13. ISRA
VISION AG
8.14. OMRON
CORPORATION
8.15. NATIONAL
INSTRUMENTS CORPORATION
9. RESEARCH
METHODOLOGY & SCOPE
9.1. RESEARCH
SCOPE & DELIVERABLES
9.2. SOURCES
OF DATA
9.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL MACHINE VISION
MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 2: GLOBAL MACHINE VISION
MARKET, BY TYPE, 2022-2028 (IN $ MILLION)
TABLE 3: GLOBAL MACHINE VISION
MARKET, BY COMPONENTS, 2022-2028 (IN $ MILLION)
TABLE 4: GLOBAL MACHINE VISION
MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 5: GLOBAL MACHINE VISION
MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 6: GLOBAL MACHINE VISION
MARKET, BY VERTICALS, 2022-2028 (IN $ MILLION)
TABLE 7: GLOBAL MACHINE VISION
MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $ MILLION)
TABLE 8: NORTH AMERICA MACHINE
VISION MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 9: NORTH AMERICA MACHINE
VISION MARKET, BY TYPE, 2022-2028 (IN $ MILLION)
TABLE 10: NORTH AMERICA
MACHINE VISION MARKET, BY COMPONENTS, 2022-2028 (IN $ MILLION)
TABLE 11: NORTH AMERICA
MACHINE VISION MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 12: NORTH AMERICA
MACHINE VISION MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 13: NORTH AMERICA
MACHINE VISION MARKET, BY VERTICALS, 2022-2028 (IN $ MILLION)
TABLE 14: EUROPE MACHINE
VISION MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 15: EUROPE MACHINE
VISION MARKET, BY TYPE, 2022-2028 (IN $ MILLION)
TABLE 16: EUROPE MACHINE
VISION MARKET, BY COMPONENTS, 2022-2028 (IN $ MILLION)
TABLE 17: EUROPE MACHINE
VISION MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 18: EUROPE MACHINE
VISION MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 19: EUROPE MACHINE
VISION MARKET, BY VERTICALS, 2022-2028 (IN $ MILLION)
TABLE 20: ASIA-PACIFIC MACHINE
VISION MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 21: ASIA-PACIFIC MACHINE
VISION MARKET, BY TYPE, 2022-2028 (IN $ MILLION)
TABLE 22: ASIA-PACIFIC MACHINE
VISION MARKET, BY COMPONENTS, 2022-2028 (IN $ MILLION)
TABLE 23: ASIA-PACIFIC MACHINE
VISION MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 24: ASIA-PACIFIC MACHINE
VISION MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 25: ASIA-PACIFIC MACHINE
VISION MARKET, BY VERTICALS, 2022-2028 (IN $ MILLION)
TABLE 26: LATIN AMERICA
MACHINE VISION MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 27: LATIN AMERICA
MACHINE VISION MARKET, BY TYPE, 2022-2028 (IN $ MILLION)
TABLE 28: LATIN AMERICA
MACHINE VISION MARKET, BY COMPONENTS, 2022-2028 (IN $ MILLION)
TABLE 29: LATIN AMERICA
MACHINE VISION MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 30: LATIN AMERICA
MACHINE VISION MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 31: LATIN AMERICA
MACHINE VISION MARKET, BY VERTICALS, 2022-2028 (IN $ MILLION)
TABLE 32: MIDDLE EAST AND
AFRICA MACHINE VISION MARKET, BY COUNTRY, 2022-2028 (IN $ MILLION)
TABLE 33: MIDDLE EAST AND
AFRICA MACHINE VISION MARKET, BY TYPE, 2022-2028 (IN $ MILLION)
TABLE 34: MIDDLE EAST AND
AFRICA MACHINE VISION MARKET, BY COMPONENTS, 2022-2028 (IN $ MILLION)
TABLE 35: MIDDLE EAST AND
AFRICA MACHINE VISION MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
TABLE 36: MIDDLE EAST AND
AFRICA MACHINE VISION MARKET, BY APPLICATION, 2022-2028 (IN $ MILLION)
TABLE 37: MIDDLE EAST AND
AFRICA MACHINE VISION MARKET, BY VERTICALS, 2022-2028 (IN $ MILLION)
FIGURE 1: PROCESS OF MACHINE
VISION
FIGURE 2: KEY IMPACT ANALYSIS
FIGURE 3: MARKET
ATTRACTIVENESS INDEX
FIGURE 4: GLOBAL MACHINE
VISION MARKET, BY 1D MACHINE VISION, 2022-2028 (IN $ MILLION)
FIGURE 5: GLOBAL MACHINE
VISION MARKET, BY 2D MACHINE VISION, 2022-2028 (IN $ MILLION)
FIGURE 6: GLOBAL MACHINE
VISION MARKET, BY 3D MACHINE VISION, 2022-2028 (IN $ MILLION)
FIGURE 7: GLOBAL MACHINE
VISION MARKET, BY HARDWARE, 2022-2028 (IN $ MILLION)
FIGURE 8: GLOBAL MACHINE
VISION MARKET, BY ASMV, 2022-2028 (IN $ MILLION)
FIGURE 9: GLOBAL MACHINE
VISION MARKET, BY CAMERAS, 2022-2028 (IN $ MILLION)
FIGURE 10: GLOBAL MACHINE
VISION MARKET, BY SENSORS, 2022-2028 (IN $ MILLION)
FIGURE 11: GLOBAL MACHINE
VISION MARKET, BY ILLUMINATIONS, 2022-2028 (IN $ MILLION)
FIGURE 12: GLOBAL MACHINE
VISION MARKET, BY PROCESSORS, 2022-2028 (IN $ MILLION)
FIGURE 13: GLOBAL MACHINE
VISION MARKET, BY OTHER HARDWARE, 2022-2028 (IN $ MILLION)
FIGURE 14: GLOBAL MACHINE
VISION MARKET, BY SOFTWARE, 2022-2028 (IN $ MILLION)
FIGURE 15: GLOBAL MACHINE
VISION MARKET, BY INSPECTION, 2022-2028 (IN $ MILLION)
FIGURE 16: GLOBAL MACHINE
VISION MARKET, BY GAUGING, 2022-2028 (IN $ MILLION)
FIGURE 17: GLOBAL MACHINE
VISION MARKET, BY GUIDANCE, 2022-2028 (IN $ MILLION)
FIGURE 18: GLOBAL MACHINE
VISION MARKET, BY IDENTIFICATION, 2022-2028 (IN $ MILLION)
FIGURE 19: GLOBAL MACHINE
VISION MARKET, BY OTHER APPLICATIONS, 2022-2028 (IN $ MILLION)
FIGURE 20: GLOBAL MACHINE
VISION MARKET, BY AUTOMOTIVE, 2022-2028 (IN $ MILLION)
FIGURE 21: GLOBAL MACHINE
VISION MARKET, BY ELECTRONICS & SEMICONDUCTORS, 2022-2028 (IN $ MILLION)
FIGURE 22: GLOBAL MACHINE
VISION MARKET, BY HEALTHCARE, 2022-2028 (IN $ MILLION)
FIGURE 23: GLOBAL MACHINE
VISION MARKET, BY FOOD & PACKAGING, 2022-2028 (IN $ MILLION)
FIGURE 24: GLOBAL MACHINE
VISION MARKET, BY OTHER VERTICALS, 2022-2028 (IN $ MILLION)
FIGURE 25: GLOBAL MACHINE
VISION MARKET, REGIONAL OUTLOOK, 2021 & 2028 (IN %)
FIGURE 26: UNITED STATES
MACHINE VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 27: CANADA MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 28: UNITED KINGDOM
MACHINE VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 29: GERMANY MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 30: FRANCE MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 31: SPAIN MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 32: ITALY MACHINE VISION
MARKET 2022-2028 (IN $ MILLION)
FIGURE 33: RUSSIA MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 34: REST OF EUROPE
MACHINE VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 35: CHINA MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 36: JAPAN MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 37: INDIA MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 38: SOUTH KOREA MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 39: ASEAN COUNTRIES
MACHINE VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 40: AUSTRALIA & NEW
ZEALAND MACHINE VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 41: REST OF
ASIA-PACIFIC MACHINE VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 42: BRAZIL MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 43: MEXICO MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 44: REST OF LATIN
AMERICA MACHINE VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 45: UNITED ARAB
EMIRATES MACHINE VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 46: SAUDI ARABIA
MACHINE VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 47: TURKEY MACHINE
VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 48: SOUTH AFRICA
MACHINE VISION MARKET 2022-2028 (IN $ MILLION)
FIGURE 49: REST OF MIDDLE EAST
& AFRICA MACHINE VISION MARKET 2022-2028 (IN $ MILLION)