Global Machine Vision Market 2019-2024 - Growing Demand for Vision-Guided Robotic Systems & Increasing Adoption of 3D Machine Vision Systems
DUBLIN, May 21, 2019 /PRNewswire/ -- The "Machine Vision Market by Component (Hardware (Camera, Frame Grabber, Optics, Processor), Software (Deep Learning and Traditional software)), Product (PC Based and Smart Camera Based), Application, End-User Industry - Global Forecasts to 2024" report has been added to ResearchAndMarkets.com's offering.
The Machine Vision Market is Expected to Reach USD 14.0 Billion by 2024 From USD 9.9 Billion in 2019
Machine vision market to grow at 7.1% CAGR from 2019 to 2024
Machine vision helps in improving quality and operational efficiency in the automotive, electronics & semiconductor, consumer electronics, glass, metals, wood & paper, and pharmaceutical industries. Machine vision technology is also used to automate the production process, increase production speed, and improve product quality.
The growing demand for artificial intelligence plays a significant role in the growth of the machine vision market. In addition, the growing trend of Industry 4.0 in emerging economies of the world is also expected to propel the growth of the machine vision market during the forecast period.
Smart camera-based machine vision system to grow at higher CAGR than PC-based system during the forecast period
A smart camera is an intelligent camera that is capable of performing supplementary functions in addition to capturing images. It is capable of integrating optics, illumination, image capturing, and image processing. It can also perform multiple functions without manual assistance by utilizing a processor and computational intelligence.
Smart camera-based systems are more cost-effective, compact in size, and easy to use than the PC-based systems and are hence mainly used for quality assurance and inspection applications in industries involved in mass production, such as automotive and consumer electronics.
Food & packaging end-use industry to grow at the highest CAGR from 2019 to 2024
The food industry provides several opportunities for the machine vision market, and several companies have responded by developing application-specific solutions in the areas of grading, sorting, portioning, processing, and quality checking during processing and packaging. Machine vision systems help in the sorting of tea leaves, vegetables, or fruits. The systems are pre-trained with the required algorithms, which help them understand characteristics such as size, stage of growth, and variety. Machine vision helps in the inspection of packaging processes and reduction of errors by carrying out multiple inspections at a single time.
APAC likely to witness the highest growth in the overall market during the forecast period
The machine vision market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to provide ample growth opportunities for the machine vision market since it is considered a manufacturing hub for most industries. China is an ideal destination for production units of various industries, including electronics and automotive.
The machine vision market in China is expected to witness a higher growth than in other APAC countries owing to the increasing demand for automation in the country. In addition, the labour cost in China is increasing year on year. Therefore, companies based in China are focusing on using automation systems to reduce production costs. These factors are driving the growth of the machine vision market in China.
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need for Quality Inspection and Automation
5.2.1.2 Growing Demand for Vision-Guided Robotic Systems
5.2.1.3 Increasing Adoption of 3D Machine Vision Systems
5.2.1.4 Increase in Manufacturing of Hybrid and Electric Cars
5.2.2 Restraints
5.2.2.1 Varying End-User Requirements
5.2.2.2 Lack of Flexible Machine Vision Solutions
5.2.3 Opportunities
5.2.3.1 Government Initiatives to Support Industrial Automation
5.2.3.2 Increasing Demand for AI in Machine Vision
5.2.3.2.1 Government Initiatives to Boost Ai-Related Technologies
5.2.3.3 Growing Adoption of Industry 4.0
5.2.3.4 Need for Miniaturization of Cameras and Processors
5.2.3.5 Rising Need for Asics
5.2.4 Challenges
5.2.4.1 Complexity in Integrating Machine Vision Systems
5.2.4.2 Lack of User Awareness About Rapidly Changing Machine Vision Technology
5.3 Value Chain Analysis
5.3.1 R&D
5.3.2 Machine Vision Component Manufacturers
5.3.3 Original Equipment Manufacturers (OEMS)
5.3.4 System Integrators
5.3.5 Resellers and Distributors
5.3.6 End Users
6 Machine Vision Market, By Component
6.1 Introduction
6.2 Hardware
6.2.1 Cameras
6.2.1.1 Interface Standards
6.2.1.1.1 USB 2.0/USB 3.0
6.2.1.1.2 Camera Link
6.2.1.1.3 GIGE
6.2.1.1.4 Coaxpress
6.2.1.1.5 Others (EMVA-1288, Firewire, Genicam)
6.2.1.2 By Frame Rate
6.2.1.2.1 <_5 />6.2.1.2.2 25-125 FPS
6.2.1.2.3 More Than 125 FPS
6.2.1.3 By Format
6.2.1.3.1 Line Scan
6.2.1.3.2 Area Scan
6.2.1.4 By Sensor Type
6.2.1.4.1 CMOS
6.2.1.4.2 CCD
6.2.2 Frame Grabbers
6.2.3 Optics
6.2.4 LED Lighting
6.2.5 Processors
6.2.5.1 FPGA
6.2.5.2 DSP
6.2.5.3 Microcontrollers and Microprocessors
6.2.5.4 VPU
6.3 Software
6.3.1 Traditional Software
6.3.2 Deep Learning Software
7 Machine Vision Market, By Product
7.1 Introduction
7.2 PC-Based Machine Vision Systems
7.2.1 PC-Based Machine Vision Systems Have the Ability to Compensate for Unexpected Variations in Certain Tasks.
7.3 Smart Camera-Based Vision Systems
7.3.1 Smart Camera Performs Multiple Functions Without Manual Assistance By Utilizing A Processor and Computational Intelligence.
8 Machine Vision Market, By Application
8.1 Introduction
8.2 Quality Assurance & Inspection
8.2.1 Quality Assurance Application Dominates the Machine Vision Market
8.3 Positioning & Guidance
8.3.1 Robots Plays an Important Role in Positioning and Guidance System in Machine Vision.
8.4 Measurement
8.4.1 Machine Vision Measurement Tools Combined With the Right Optics and Stable Lighting Provide Precision Repeatability to Ensure Manufacturing Accuracy.
8.5 Identification
8.5.1 In Identification, Vision Systems are Used to Read Various Codes and Alphanumeric Characters, Such as Text and Numbers.
8.6 Predictive Maintenance
8.6.1 Predictive Maintenance Can Be Very Useful When There is Machine Downtime.
9 Machine Vision Market, By End-Use Industry
9.1 Introduction
9.2 Automotive
9.2.1 Machine Vision Systems Offer High Accuracy in Critical Activities Such as Bin Picking and Positioning of Parts for Assembly.
9.3 Electronics & Semiconductor
9.3.1 Demand for Machine Vision Systems in the Electronics & Semiconductor Industry is Increasing Because of the Declining Prices of Electronic Chips and the High Production
9.4 Consumer Electronics
9.4.1 3D Machine Vision Systems are Emerging as Powerful Technologies for Electronics Assembly Applications.
9.5.1 Machine Vision Improves Operational Efficiency, Traces Defects, Reduces Wastage, and Provides Detailed Statistical Information.
9.6 Metals
9.6.1 Shortage of Skilled Labour in the Market are the Two Major Factors Responsible for the Increasing Adoption of Machine Vision in the Metals Industry.
9.7 Wood & Paper
9.7.1 Machine Vision Systems Can Work Efficiently in Different Environmental Conditions, Such as Wood Dust, Heat, Smoke, Water, and Chemicals.
9.8 Pharmaceuticals
9.8.1 Stringent Government Regulations and the Increasing Need to Combat Counterfeit Products are Driving the Growth of the Machine Vision Market in This Industry
9.9 Food & Packaging
9.9.1 Food
9.9.1.1 The Machine Vision Systems are Pre-Trained With the Required Algorithms, Which Help Them Understand Characteristics Such as Size, Stage of Growth, and Variety.
9.9.2 Packaging
9.9.2.1 Machine Vision Helps in the Inspection of Packaging Processes and Reduction of Errors By Carrying Out Multiple Inspections at A Single Time.
9.10 Rubber & Plastics
9.10.1 The Machine Vision in Rubber and Plastic Industry Helps in Examine and Evaluate Parts and Determine If the Parts are Good, Bad, Or Undefined.
9.11 Printing
9.11.1 Machine Vision Ensure That the Right Pages are Used in the Right Envelopes
9.12 Machinery
9.12.1 Machine Vision Systems Help in Completing Processes Much Faster and Also Help in Detecting Defects and Validating Quality.
9.13 Solar Panel Manufacturing
9.13.1 Industrial Machine Vision-Based Inspection is an Important Tool for Inspecting the Quality of Solar Panels.
9.14 Textiles
9.14.1 Machine Vision Systems Help Manufacturers Produce High-Quality Textiles While Minimizing the Costs and Maximizing the Profits.
10 Geographic Analysis
11 Competitive Landscape
11.1 Overview
11.2 Key Players in the Machine Vision Market
11.3 Competitive Leadership Mapping
11.3.1 Visionary Leaders
11.3.2 Dynamic Differentiators
11.3.3 Innovators
11.3.4 Emerging Companies
11.4 Strength of Product Portfolio (25 Companies)
11.5 Business Strategy Excellence (25 Companies)
11.6 Competitive Scenario
11.6.1 Product Launches and Developments
11.6.2 Partnerships, Collaborations, and Agreements
11.6.3 Mergers & Acquisitions
12 Company Profile
12.1 Key Players
12.1.1 Cognex
12.1.2 Basler
12.1.3 Omron
12.1.4 Keyence
12.1.5 National Instruments
12.1.6 Sony
12.1.7 Teledyne Technologies
12.1.8 Texas Instruments
12.1.9 Intel
12.1.10 Baumer Optronic
12.1.11 JAI A/S
12.1.12 Mvtec Software
12.1.13 Tordivel As
12.1.14 Isra Vision
12.1.15 Sick
12.1.16 Flir Systems
12.2 Startup-Ecosystem
12.2.1 Ametek
12.2.2 Qualitas Technologies
12.2.3 Sualab
12.2.4 Algolux
12.2.5 Clarifai
12.2.6 Cadence Design Systems
12.2.7 Inuitive
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