DUBLIN, Nov. 16, 2018 /PRNewswire/ --
The "Machine Vision Market Analysis Report By Offering, By Application (Quality Assurance, Measurement, Identification), By Product (PC-based, Smart Camera-based), By End Use, And Segment Forecasts, 2018 - 2025" report has been added to ResearchAndMarkets.com's offering.
The global machine vision market size is expected to reach USD 18.24 billion by 2025 at a 7.7% CAGR during the forecast period
The ability of machine vision systems to process massive amounts of information in a just a few seconds is a major factor driving the market. The quick processing ability of machine vision systems is paving the way for manufacturers to achieve new milestones in manufacturing products with negligible defects. Moreover, increasing adoption of robots across industrial sectors is leading to application of vision-guided robotic systems. Industrial verticals, such as automotive, pharmaceutical, packaging, and food and beverage are prominent sectors where robotic systems are used, eventually fueling demand for machine vision systems.
Machine vision technology encompasses various components in order to capture images of products to analyze them, depending on different parameters of quality and safety. The technology is a combination of software and hardware, which provides operational control to devices to execute functions such as capturing and processing of images and measuring various characteristics required for decision making. Major components of the system include lighting, lens, image sensors, vision processing, and communication devices. Machine vision systems assist in resolving complicated industrial tasks with reliability.
Industrial machine vision systems are usually more robust and demand high reliability, stability, and accuracy as compared to those used in institutional or educational applications. They cost lesser than systems used in military, aerospace, defense, and government applications. These factors are expected to lead to greater adaptability of the technology in industrial sectors. In addition, robotic vision systems used across these industries are leading to increasing adoption of the technology, thereby strengthening the overall market.
The technology has proven to be of key importance in the area of manufacturing and quality control, owing to rising need for quality inspection and production. In addition, growing automation in industrial segments is facilitating the growth of the market at a considerable rate.
The technology has been witnessing extensive developments and innovative upgrades since its emergence. Several factors, such as inception of the technology and increasing need for quality products, are influencing market growth. Furthermore, machine vision systems are gaining traction in medical and healthcare applications in recent times. Analysis of medical images and robotic applications for carrying various medical activities are key roles of the technology in these sectors.
The automotive industry held the largest share in the machine vision market in 2017. The inspection process, which includes error proofing and presence/absence checking, is responsible for adoption of machine vision in the automotive sector. The food and beverages industry is expected to exhibit the highest growth rate over the forecast years, owing to use of machine vision systems in packaging and bottling operations.
Asia Pacific accounted for the largest market share in 2017, which can be attributed to ample opportunities offered on account of large manufacturing practices carried out in the region. Countries such as China, Japan, South Korea, and India are considered to be potential markets for upcoming technologies, including machine vision. The region's rapid industrial expansion has been significantly contributing to the prosperity and development of various innovations and adoption of different technologies.
In addition, factors such as growing focus on developments, increased expenditure on vision-related research activities, and expanding manufacturing base in the region are expected to spur the market in Asia Pacific. The market is also anticipated to exhibit the fastest growth rate over the forecast period.
The global industry is facing challenges due to lack of awareness among users about rapidly advancing machine vision technology. Moreover, the complexity of integrating machine vision systems are posing major difficulties for manufacturers. This is also restraining the growth of the market.
Further key findings from the report suggest:
- By way of product, the PC-based segment accounted for the largest market share in 2017 and is estimated to continue its dominance over the forecast period
- On the basis of application, the identification segment is anticipated to exhibit the fastest growth rate over the forecast period, followed by the positioning and guidance segment
- By end use, the food and beverages industry is expected to witness the highest CAGR over the forecast period
- The Asia Pacific market is expected to witness substantial growth over the next decade. This growth is witnessed in the wake of ample opportunities offered due to presence of large manufacturing hubs across the food and packaging, automotive, pharmaceutical, industrial, and consumer electronic sectors
- Prominent companies in the industry include Allied Vision Technologies GmbH (Germany), Basler AG (Germany), Cognex Corporation (U.S.), Keyence Corporation (Japan), National Instruments (U.S.), Omron Corporation (Japan), Machine Vision Technology (U.K.), and Microscan Systems (U.S.).
Key Topics Covered:
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Industry snapshot, 2014 - 2025
2.2 Key segment trends & buying criteria, 2014 - 2025
Chapter 3 Industry Outlook
3.1 Market Segmentation & Scope
3.2 Machine Vision-Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market driver analysis
3.3.1.1 Increased quality and productivity
3.3.1.2 Benefiting the manufacturers and industrialists by driving down production costs
3.3.1.3 Implementation of advanced technologies by manufacturer (3D Machine vision and others)
3.3.1.4 Growing popularity of the machine vision in different verticals
3.3.2 Market restraint analysis
3.3.2.1 Lack of skilled labour and inconsistency in the end-user requirements/demands
3.4 Key Opportunities Prioritized-2017
3.5 Industry Analysis-Porter's
3.6 Machine Vision-PEST Analysis
Chapter 4 Machine Vision Market: Offering Estimates & Trend Analysis
4.1 Machine Vision Market: Offering Movement Analysis
4.1.1 Hardware
4.1.2 Software
Chapter 5 Machine Vision Market: Product Estimates & Trend Analysis
5.1 Machine Vision Market: Product Movement Analysis
5.1.1 PC Based
5.1.2 Smart Camera Based
Chapter 6 Machine Vision Market: Application Estimates & Trend Analysis
6.1 Machine Vision Market: Application Movement Analysis
6.1.1 Quality Assurance & Inspection
6.1.2 Positioning & Guidance
6.1.3 Measurement
6.1.4 Identification
Chapter 7 Machine Vision Market: End-Use Industry Estimates & Trend Analysis
7.1 Machine Vision Market: End-Use Industry Movement Analysis
7.1.1 Automotive
7.1.2 Pharmaceuticals & Chemicals
7.1.3 Electronics & Semiconductor
7.1.4 Pulp & Paper
7.1.5 Printing & Labeling
7.1.6 Food & Beverage (Packaging and Bottling)
7.1.7 Glass & Metal
7.1.8 Postal & Logistics
7.1.9 Others (Agriculture, Security & Surveillance, Rubber, Plastics, Solar Paneling, Machinery, and Others)
Chapter 8 Machine Vision Market: Regional Estimates Forecasts & Trend Analysis
Chapter 9 Competitive Landscape
- Allied Vision Technologies GmbH (A subsidiary of TKH Group NV)
- Basler AG
- Cognex Corporation
- Keyence Corporation
- LMI Technologies, Inc. (A subsidiary of TKH Group NV)
- Microscan Systems, Inc.
- National Instruments Corporation
- OMRON Corporation
- Sick AG
- Tordivel AS
For more information about this report visit https://www.researchandmarkets.com/research/79f8rz/global_machine?w=5
Did you know that we also offer Custom Research? Visit our Custom Research page to learn more and schedule a meeting with our Custom Research Manager.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Related Links
http://www.researchandmarkets.com
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article