NEW YORK, Dec. 5 2016 /PRNewswire/ --
Use this report to:
- Gain insight through definitions, concepts, and the roles of the machine vision (MV) industry.
- Gain information about the history and development of machine vision (MV) in food processing, and container and packaging industry.
- Gain information about the government regulations in food processing, automotive, pharmaceutical and security and surveillance industries.
Highlights
- The global market for machine vision (MV) system components will grow from $19.0 billion in 2016 to $30.8 billion by 2021 with a compound annual growth rate (CAGR) of 10.2% for the period of 2016-2021.
- The optics, lighting and frame grabber market is the largest segment and will grow from $5.6 billion in 2016 to nearly $9.3 billion by 2021, with a CAGR of 10.6%.
- The camera and smart camera market is expected to increase from $5.0 billion in 2016 to nearly $8.2 billion by 2021, with a CAGR of 10.3%.
STUDY GOALS AND OBJECTIVES
Machine vision (MV) encompasses all industrial and nonindustrial applications in which a combination of hardware and software provide operational guidance to devices in the execution of their functions, based on the capture and processing of images. Industrial vision systems demand greater robustness, reliability and stability, and typically cost much less than those used in government/military applications. This means that industrial MV systems imply lower cost with acceptable accuracy, high robustness, high reliability, and high mechanical and temperature stability. MV systems rely on digital sensors protected inside industrial cameras with specialized optics to acquire images, so that computer hardware and software can process, analyze, and measure various characteristics for decision-making.
Machine vision uses automated technology for capturing images and transferring them to a PC. The images are then processed for inspection and reporting of the processed results. MV systems can be termed as devices that capture and analyze visual information, and are used to automate "seeing" tasks. A camera and an image sensor are used to capture images, while vision software analyzes what is being observed and communicates information to other equipment. Vision systems also require lighting and are configured by connecting them to a display device such as a computer monitor.
MV systems can have a variety of physical forms depending on the needs of the users, who can purchase vision software to use with their own cameras and processors or can purchase a stand-alone unit that combines the camera, processor and software into a single package. Such systems have increasingly become more powerful while at the same time easy to use. Advances in MV technology, including smart cameras and vision-guided robotics, have increased the scope of the MV market with a wider application in the manufacturing and nonmanufacturing sectors.
MV is now used to ensure the quality of products from tiny computer chips to massive space vehicles, as well as in major security applications and traffic and crowd-control environments. MV has become a vital and effective automation tool that enables computers to replace human vision in many high-speed and high-precision manufacturing and nonmanufacturing applications. In manufacturing, MV systems are used in the production of semiconductor, electronics, pharmaceuticals, medical devices, packaging, automotive, printing/publishing and consumer goods. In addition, the technology finds applications in traffic management, toll collection and many other nonmanufacturing uses.
This report will look at the application market for MV systems and the competition involved in this ever-expanding field. The analysis also studies the global market for the various components and different systems that constitute an MV system. The market for these components and systems has become very competitive, and this report will look into the nature of the competition and the regional breakdown of these markets.
REASONS FOR DOING THE STUDY
This report provides important information on the current size and anticipated growth of the overall market and market segments, characteristics of the market, leading suppliers, trends in customer preference and geographic market opportunities.
SCOPE OF THE REPORT
This report covers the market for MV hardware and software, including smart cameras and smart sensors, compact vision systems, PC-based MV systems, MV lighting and cameras, and frame grabbers.
A variety of factors were considered in making the market forecast, including plant construction and upgrades, the rate at which new MV technology is being applied in new areas, the underlying economic growth of the overall market, and the growth rates reported by manufacturers and end users of MV products.
The report will look at the global market for the various components that comprise an MV system. These components have been undergoing constant upgrades in terms of sophistication, but also provide easier operation. In addition, the prices of these components continue to fall, so the MV industry has been characterized by improving price and performance ratios. This has made the market for MV components very competitive. This study will examine the nature of the competition and offer a regional breakdown of this market. In addition, the report covers the outlook of future global markets for MV systems and the technologies that will be involved. Starting with some basic manufacturing applications two decades ago in a few selected countries, the growth of this technology has allowed it to penetrate varied nonmanufacturing fields, and the market has become global in nature.
Recent advances in MV technology have facilitated and accelerated varied applications for manufacturing as well as nonmanufacturing use in the near future. This report investigates the present global and regional markets for these various applications and provides a realistic forecast of their growth.
The major objective of this report is to determine the worldwide market for MV systems and its growth potential over the next five years. It also highlights the various technologies involved and improvements in them. We also look at the structure of the industries involved in the research, development, design and manufacture of MV components and systems. Profiles of global manufacturers are provided along with a discussion of the global competition in this ever-expanding market. An analysis of patents issued to various companies for related technologies and processes is contained in this study. Forecasts take into account product and technology life cycles.
INTENDED AUDIENCE
This study covers the technologies involved in MV systems, such as components that constitute a workable MV system, recent advances in the technologies involved, various traditional and new applications, and global markets for these technologies and applications. The report will be useful for the following groups:
- Manufacturers of MV systems and components.
- Systems integrators.
- Design and application engineers.
- Various industries and agencies needing MV systems.
- Traffic and transport planners.
- Security system planners.
- Advertising agencies working with clients in the MV system industry, to understand the products and to develop messages and images that will influence consumers to purchase these products.
METHODOLOGY
Both primary and secondary research methodologies were used in this study. Market data resulted from telephone interviews with manufacturers of MV components, systems integrators and end users, as well as from searches of company literature and online sources. Production data from various segments of the industry was obtained from sources within these industries and from the balance sheets of a number of companies. Forecasts are based on a variety of factors, including technology developments, commercial realities, product/ technology life cycles and regional economic growth factors. Revenue values are in constant U.S. dollars, unadjusted for inflation, and reflect value at the manufacturer level.
INFORMATION SOURCES
Primary information sources for this market research include individuals within companies, various research organizations, governmental agencies and trade associations. Additional secondary research sources include databases, trade literature, specialized journals and government statistics.
ANALYST'S CREDENTIALS
Srinivasa Rajaram is a mechanical engineer with more than 40 years of experience in designing factory layouts and setting up factories. He has set up factories for the production of weighing and dynamic balancing machines in India and has experience in designing, producing and servicing that equipment. He was Senior Vice President at M/S Schenck Avery Limited, an Indo-German joint venture, and has set up an automatic paint shop for painting various components of weighing and dynamic balancing equipment.
Read the full report: http://www.reportlinker.com/p01351944-summary/view-report.html
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