Machine Vision Market by Component (Hardware and Software), Product (PC-Based Systems and Smart Camera-Based Systems), Application, Vertical (Automotive, Electronics and Semiconductor, Healthcare, ITS) and Geography - Global Forecast to 2020

Dec 21, 2015, 16:49 ET from ReportBuyer

LONDON, Dec. 21, 2015 /PRNewswire/ -- "Increasing demand for application-specific machine vision systems driving the machine vision market"

The machine vision market size is estimated to grow from USD 8.08 billion in 2015 to USD 12.49 billion by 2020, at an estimated CAGR of 9.1% from 2015 to 2020. The machine vision market is driven by the factors such as Increasing need for quality inspection and automation, Growing demand for vision-guided robotics systems, Rise in labor costs would create investment opportunities for vision-guided industrial robots and other automation technologies in china, and Growing number of regulatory mandates for food, pharma, and automotive industry.

"PC-Based systems to gain maximum traction during the forecast period"

The PC-Based machine vision systems are estimated to contribute the largest market share during the forecast period. Smart camera-based systems market is expected to gain traction and grow at the highest CAGR in the next five years. These are the most sustainable product segment for the machine vision market. The major reasons are the low cost and ease of use. Compared to PC-based systems, the smart camera-based machine vision systems can accomplish the task of decoding algorithms, traceability applications such as ID code reading, text verification, mark quality assessment, and label inspection now be accomplished more economically. They are generally easier to configure, validate, and maintain. Being configurable rather than programmable, the smart camera-based machine vision systems make it easier for the manufacturers to implement changes in regulations and standards in future.

In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. Break-up of profile of primary participants is given below as:
• By Company Type: Tier 1 – 55 %, Tier 2 – 20% and Tier 3 – 25%
• By Designation: C level – 35%, Manager level – 65%
• By Region: North America – 10%, Europe – 20%, APAC – 40%, RoW – 30%

Due to rise in the demand for machine vision in the non-industrial verticals such as healthcare and security & surveillance, the machine vision market finds huge opportunity to proliferate in the next five years.

The various key machine vision vendors profiled in the report are as follows:
1. Cognex Corporation (U.S.)
2. Keyence Corporation (Japan)
3. National Instruments (U.S.)
4. Basler AG (Germany)
5. Omron Corporation (Japan)
6. Adept Technology (U.S.)
7. Allied Vision Technologies GmbH (Germany)
8. IDS Imaging Development Systems GmbH (Germany)
9. Machine Vision Technology (U.K.)
10. Microscan Systems (U.S.)
11. Perceptron, Inc. (U.S.)
12. Sony Corporation
13. Teledyne Technologies, Inc.
14. Vitronic GmbH (Germany)

The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the machine vision market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across the different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers and acquisitions.

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