Machine Vision Market to be Dominated by increasing Vision-guided Robotic Systems Through 2028
Industry 4.0 developments are uplifting the
manufacturing sector and are driving the implementation of machine vision technology
across the globe.
According to TechSci Research report, “Machine
Vision Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028F,” the
global machine vision market is growing owing to rising growth in
electronically stored information (ESI) and increasing social media penetration.
The increasing demand for quality inspection and automation in different
industrial verticals is likely to drive the market. Vendors globally are making
significant product innovations by integrating technologies such as artificial
intelligence (AI) and natural language processing (NLP) to cater to customer
needs and market requirements. Moreover, the preservation of metadata from
electronic documents and the growing collaboration with social media platforms
to simplify litigation processes are further contributing to the growth of
global machine vision market.
Machine vision is a technique that uses
image processing to enable automatic inspection and analysis for applications
such as automatic inspection, process control, and robotic guiding. Machine
vision is a technological competence that utilizes current technologies in
novel ways to address issues in the real world. Numerous innovations carried
out in smart camera applications, optics and lighting, website browser
interfaces and artificial intelligence (AI) and machine learning (ML)
technologies are expected to enhance the features of machine vision. Machine
vision systems are being more recognized by manufacturers as a necessary
investment for achieving goals related to quality, affordability, and speed.
Furthermore, machine vision can also assist in boosting the production line's
throughput, lowering labor costs, and allowing personnel to concentrate on
higher-value activities and thereby enhance product quality and overall system
efficiency. The most common requirements for machine vision are digital
input/output devices and computer networks to manage other production equipment
like robotic arms. Machine vision is most frequently used for product
identification, sorting, and tracking, as well as visual inspection and fault
detection.
With the outbreak of the COVID-19
pandemic, the simultaneous interruptions in supply and demand caused by the
business closures, exceptionally severe slumps occurred. It is anticipated that
the consequences of this pandemic would cause various levels of crises among
various sub-sectors. Since demand comes from different industries, machinery
and industrial automation are not projected to be affected equally by the
crisis. Nonetheless, the COVID-19 pandemic outbreak is anticipated to hasten
the advancement and application of automation technology due to stronger
incentives to replace capital with labor. Robotics and intelligent systems
provide enormous promise when disinfecting highly contaminated places, even
cleaning up contaminated locations like hospitals and public places. Moreover,
mobile robots and surveillance robots are aiding in detecting and tackling social
distancing breaches.
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Based on component, the market is
segmented into hardware, software. Based on type, the market is segmented into
1-D vision system, 2-D vision system, & 3-D vision system. Based on product
type, the market is segmented into PC-based, smart cameras-based. Based on
deployment type, the market is segmented into general, robotic cell. Based on
application, the market is segmented into quality assurance and inspection, positioning
and guidance, measurement, and identification. Based on vertical, the market is
further split into semiconductor & electronics, automotive, retail &
consumer goods, food & packaging, solar panel manufacturing, machinery, and
others.
The hardware segment dominated the global
machine vision market in 2022 and is expected to maintain its dominance during
the forecast period. The hardware segment includes processors, cameras, frame
grabbers, optics, and LED lighting. Due to the rising demand for CMOS imaging
sensors, cameras in hardware are mostly accounted for the greatest revenue
share in 2022. Moreover, the software segment will witness faster growth during
the predicted period. This can be attributed to manufacturers' increasing use
of cutting-edge technology and its numerous benefits in various applications.
Moreover, the system automates difficult or time-consuming visual inspection
activities and accurately controls handling equipment throughout product
assembly. Positioning, identification, verification, measurement, and error
detection are a few of the purposes.
The 3-D vision system segment is
expected to register lucrative growth during the forecast period. 2-D machine
vision system by type is expected to acquire high traction in the global machine
vision market owing to the utilization of higher user cases in applications such
as barcode reading, presence detection, and object tracking by market players
in the global machine vision market. Moreover, the users are traditionally using
2-D machine vision in digital cameras and other applications for capturing the
image of an object. However, a developing trend is 3D machine vision, which
provides accurate and current information to enhance application performance. The
manufacturing sector is embracing the 3-D machine vision to deliver accurate
dimensional data and taking application capabilities to a new strategic level.
Key market players in the global machine
vision market include:
- Cognex Corporation
- Allied Vision Technologies GmbH
- Basler AG
- National Instruments Corporation
- Tordivel AS
- OMRON Corporation
- Keyence Corporation
- LMI Technologies, Inc.
- Microscan Systems, Inc.
- Sick AG
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“The North America region shows
substantial growth prospects for machine vision which can be attributed to the
significant benefits it offers to enterprises, including saving time, lowering
production costs, enhancing output and product quality, lowering the labor
intensity of testing and inspection staff, lowering the quantity of
disqualified goods, and enhancing machine utilization. The machine vision is
gaining traction and is expanding to various countries in North America,
including the United States, Canada, and Mexico. Owing to the early adoption of
technologies such as cloud computing, artificial intelligence and natural
language processing coupled with the massive number of companies present in the
country, the United States leads the market and is expected to continue its
dominance in North America machine vision market during the forecast period as
well,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Machine Vision Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F, Segmented By Component (Hardware, Software), By Type (1-D Vision System,
2-D Vision System, & 3-D Vision System), By Product Type (PC-Based, Smart
Camera-Based), By Deployment Type (General, Robotic Cell), By Application
(Quality Assurance and Inspection, Positioning and Guidance, Measurement,
Identification), By Vertical (Semiconductor & Electronics, Automotive,
Retail & Consumer Goods, Food & Packaging, Solar Panel Manufacturing,
Machinery, Others), By Region, Competition,””, has evaluated the future growth potential
of global machine vision market and provides statistics and information on market structure, size, share,
and future growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the global machine vision market.
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