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Pulished Date April, 2021
ID: 9341
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Machine Vision Market Segmentation By Component (Smart Camera, Embedded System, Frame Grabber, Lighting, Lenses), By Type (1D Measurement, 2D Measurement, 3D Measurement), By Application (Positioning, Identification, Verification, Measurement, Flaw Detection), By Vertical (Industrial, Healthcare, Electronics, Automotive, Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026

Pulished: April, 2021
ID: 9341
Pages: 175

Machine Vision Market Share Size and Forecast 2026:

During the forecast period 2021-2026, the machine vision market is projected to grow at a robust CAGR of 9.20%. This may be considerable development over its 2021 market size, which stood at $8.59 billion.

The machine vision system permits automatic analysis and inspection of the assembly line, supported imaging, utilized in process control, verification, measurements, robot guidance, and other functions. Machine vision includes an entire solution ranging from acquiring a picture to interacting with the management data system. The machine vision system replaces the incapability of human inspectors to take care of a high level of error recognition for an extended period of time.

The recent market research shows the worldwide automation market was valued at a massive $129.45 billion in 2017 and is projected to grow at a CAGR of 4.8% over the next few years. The rise in worldwide automation directly supports the growth of the machine vision business. This is often reflective of the colossal technological development that has taken place in nearly all industries of the planet concerning automation and instrumentation to chop down on costs, reduce manual labor, and make products with minimal defects. Several industries have started using machine vision technology for manufacturing. Machine vision is often employed by a plethora of sectors including the military, defense, manufacturers, and most significantly, the automotive industry. 

Machine Vision Market Recent Developments:

Binding the difference between human and machine vision, Researchers develop a more robust machine-vision architecture by studying how human vision responds to changing viewpoints of objects.

Machine vision is employed during a sort of industrial process, like material inspection, visual perception, pattern recognition, automated component analysis, alongside the popularity of signatures, optical characters, and currency.

Drivers and Restraints of Machine Vision:

Machine Vision Market Drivers:

Machine vision is capable of enabling inspection of components moving at extremely high speeds, which might be nearly impossible even with a trained operator's view. Machine vision, therefore, helps in massively developing production efficiency. Other benefits to the automotive industry through this technology include minimized human labor, lowered costs, and improved quality of ultimate parts.

Several industries across the globe are implementing this technology to improve operational efficiency and curb overall expenses.

Machine Vision Market Restraints:

Since machine vision may be relatively new technology, it is witnessing challenges at the event stage. Some inspections are quite challenging to program thanks to parameters like lighting, curvatures, etc. A possible option to combat this challenge is to intensify coding techniques and spend a better amount of time on the theoretical aspects.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021–2026

Base Year

2020

Forecast Period

2021 - 2026

CAGR

9.20%

Segments Covered

By Component, By Type, By Application, By Industry Vertical

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Cognex Corporation, Teledyne Technologies, Inc., Keyence Corporation, National Instruments Corporation, Texas Instruments, Inc., Basler AG, Baumer Optronic GmbH, Sick AG, Omron Corporation, Allied Vision Technologies GmbH, Intel Corporation, Jai A/S, Canon Inc., Datalogic S.p.A, Microscan Systems, Inc., Adept Technology, IDS Imaging Development Systems GmbH, Machine Vision Technology

Machine Vision Market Segmentation:

By Component:

  • Smart Camera
  • Embedded System
  • Frame Grabber
  • Lighting
  • Lenses

The smart camera-based machine vision system is predicted to grow at a faster rate during the foreseen period as smart camera-based machine vision systems are cost-effective, compact, and versatile since it's easier to implement changes in these systems supported revised regulations and standards. Additionally, with the advancements in smart camera technology and IoT, which may be easily be integrated with these cameras, the penetration of the smart camera-based machine vision systems is probably going to extend within the next few years.

By Type:

  • 1D Measurement
  • 2D Measurement
  • 3D Measurement

Market by type comprises 1D, 2D, and 3D measurements, of which the 3D Measurement segment is estimated to grow at the best CAGR in the foreseen years due to the trend of 3D imaging within the assembly line of different end-user industries.

By Application:

  • Positioning
  • Identification
  • Verification
  • Measurement
  • Flaw Detection

By Industry Vertical:

  • Industrial
  • Healthcare
  • Electronics
  • Automotive
  • Others 

Automotive is the most prominent industry vertical in the global machine vision market that is likely to expand with a notable growth rate in the coming years. The increasing production of vehicles around the world to meet the growing need of the population in both developed and developing regions is anticipated to create massive growth potential for the machine vision industry in the future.

Machine Vision Market Region-wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden
  3. Asia Pacific
    1. China
    2. India
    3. Japan
  4. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  5. Middle East and Africa

a. Middle East

b. Africa

The Asia Pacific machine vision market is predicted to carry a serious market share during the forecast period as countries in the region like China, Japan, India, and South Korea have a number of prominent manufacturing facilities wherein automation of production processes has been considered as the highest priority. Also, strong competition among consumer electronics companies in the Asia Pacific is probably going to spice up the adoption of machine vision systems within the region over the next few years.

Key Players of Market:

Cognex Corporation, Teledyne Technologies, Inc., Keyence Corporation, National Instruments Corporation, Texas Instruments, Inc., Basler AG, Baumer Optronic GmbH, Sick AG, Omron Corporation, Allied Vision Technologies GmbH, Intel Corporation, Jai A/S, Canon Inc., Datalogic S.p.A, Microscan Systems, Inc., Adept Technology, IDS Imaging Development Systems GmbH, Machine Vision Technology

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferences          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restraints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquisition Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Machine Vision Market, By Component                 

                    6.1.1 Smart Camera

                    6.1.2 Embedded System   

                    6.1.3 Frame Grabber         

                    6.1.4 Lighting         

                    6.1.5 Lenses 

                    6.1.6 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.7 Y-o-Y Growth Rate Analysis         

                    6.1.8 Market Attractiveness Index         

          6.2 Machine Vision Market, By Type                 

                    6.2.1 1D Measurement      

                    6.2.2 2D Measurement      

                    6.2.3 3D Measurement      

                    6.2.4 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.5 Y-o-Y Growth Rate Analysis         

                    6.2.6 Market Attractiveness Index         

          6.3 Machine Vision Market, By Application                 

                    6.3.1 Positioning    

                    6.3.2 Identification 

                    6.3.3 Verification    

                    6.3.4 Measurement 

                    6.3.5 Flaw Detection         

                    6.3.6 Market Size Estimations & Forecasts (2021-2026)        

                    6.3.7 Y-o-Y Growth Rate Analysis         

                    6.3.8 Market Attractiveness Index         

          6.4 Machine Vision Market, By Vertical             

                    6.4.1 Industrial       

                    6.4.2 Healthcare     

                    6.4.3 Electronics     

                    6.4.4 Automotive    

                    6.4.5 Market Size Estimations & Forecasts (2021-2026)        

                    6.4.6 Y-o-Y Growth Rate Analysis         

                    6.4.7 Market Attractiveness Index         

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region

          7.2 North America - Market Analysis (2021 - 2026)             

                    7.2.1 By Country     

                              7.2.1.1 USA

                              7.2.1.2 Canada

                    7.2.2 By Component         

                    7.2.3 By Type         

                    7.2.4 By Application

                    7.2.5 By Vertical     

          7.3 Europe             

                    7.3.1 By Country     

                              7.3.1.1 UK

                              7.3.1.2 France

                              7.3.1.3 Germany

                              7.3.1.4 Spain

                              7.3.1.5 Italy

                              7.3.1.6 Rest of Europe

                    7.3.2 By Component         

                    7.3.3 By Type         

                    7.3.4 By Application

                    7.3.5 By Vertical     

          7.4 Asia Pacific                 

                    7.4.1 By Country     

                              7.4.1.1 China

                              7.4.1.2 India

                              7.4.1.3 Japan

                              7.4.1.4 South Korea

                              7.4.1.5 South East Asia

                              7.4.1.6 Australia & NZ

                              7.4.1.7 Rest of Asia-Pacific

                    7.4.2 By Component         

                    7.4.3 By Type         

                    7.4.4 By Application

                    7.4.5 By Vertical     

          7.5 Latin America             

                    7.5.1 By Country     

                              7.5.1.1 Brazil

                              7.5.1.2 Argentina

                              7.5.1.3 Mexico

                              7.5.1.4 Rest of Latin America

                    7.5.2 By Component         

                    7.5.3 By Type         

                    7.5.4 By Application

                    7.5.5 By Vertical     

          7.6 the Middle East and Africa          

                    7.6.1 By Country     

                              7.6.1.1 Middle East

                              7.6.1.2 Africa

                    7.6.2 By Component         

                    7.6.3 By Type         

                    7.6.4 By Application

                    7.6.5 By Vertical     

8. Key Player Analysis                           

          8.1 Cognex Corporation              

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Teledyne Technologies, Inc             

          8.3 Keyence Corporation             

          8.4 National Instruments Corporation              

          8.5 Basler AG         

          8.6 Baumer Optronic GmbH                  

          8.7 Omron Corporation               

          8.8 Allied Vision Technologies GmbH              

          8.9 Intel Corporation                   

          8.10 Microscan Systems, Inc                 

9. Market Outlook & Investment Opportunities                     

Appendix                         

          List of Tables          

          List of Figures                  

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by Shielding Type, by Heat Application, Application, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Machine Vision Market By Region, From 2021-2026 ( USD Billion )
  2. Global Machine Vision Market By Component, From 2021-2026 ( USD Billion )
  3. Global Smart Camera Market By Region, From 2021-2026 ( USD Billion )
  4. Global Embedded System Market By Region, From 2021-2026 ( USD Billion )
  5. Global Frame Grabber Market By Region, From 2021-2026 ( USD Billion )
  6. Global Lighting Market By Region, From 2021-2026 ( USD Billion )
  7. Global Lenses Market By Region, From 2021-2026 ( USD Billion )
  8. Global Machine Vision Market By Type, From 2021-2026 ( USD Billion )
  9. Global 1D Measurement Market By Region, From 2021-2026 ( USD Billion )
  10. Global 2D Measurement Market By Region, From 2021-2026 ( USD Billion )
  11. Global 3D Measurement Market By Region, From 2021-2026 ( USD Billion )
  12. Global Machine Vision Market By Application, From 2021-2026 ( USD Billion )
  13. Global Positioning Market By Region, From 2021-2026 ( USD Billion )
  14. Global Identification Market By Region, From 2021-2026 ( USD Billion )
  15. Global Verification Market By Region, From 2021-2026 ( USD Billion )
  16. Global Measurement Market By Region, From 2021-2026 ( USD Billion )
  17. Global Flaw Detection Market By Region, From 2021-2026 ( USD Billion )
  18. Global Machine Vision Market By Vertical, From 2021-2026 ( USD Billion )
  19. Global Industrial Market By Region, From 2021-2026 ( USD Billion )
  20. Global Healthcare Market By Region, From 2021-2026 ( USD Billion )
  21. Global Electronics Market By Region, From 2021-2026 ( USD Billion )
  22. Global Automotive Market By Region, From 2021-2026 ( USD Billion )

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