Machine Vision Camera Market size to increase by USD 1.49 billion from 2022 to 2027, Increased demand in non-industrial sectors to drive the growth - Technavio

NEW YORK, Nov. 22, 2023 /PRNewswire/ -- The machine vision camera market size is expected to grow by USD 1.49 billion between 2022 and 2027. However, the growth momentum of the market will be progressing at a CAGR of 8.74% during the forecast period. The market is segmented by platform (PC-based camera, Smart camera, Wireless camera, and Wearable camera ), type (Line scan, Area scan, and 3D scan cameras ), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The increasing adoption of machine vision systems for medical and life science research is notably driving the market growth. Globally, researchers are realizing the advantages of cell imaging tools for life science and medical research. A technique that creates a visual representation inside the body for clinical analysis and medical intervention and aids in the preliminary analysis and detection of diseased tissues is known as cellular imaging. Such a procedure is non-invasive and valuable for analyzing cells in real-time. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the machine vision camera market: Adimec Advanced Image Systems BV, Alpha MOS, AMETEK Inc., Banner Engineering Corp., Basler AG, Baumer Holding AG, Cognex Corp., Datalogic Spa, Decision Technology LLC, Hangzhou Hikvision Digital Technology Co. Ltd., Hitachi Ltd., Intel Corp., JAI AS, Keyence Corp., National Instruments Corp., OMRON Corp., SICK AG, Sony Group Corp., TKH Group NV, and Teledyne Technologies Inc.
• Machine Vision Camera Market is fragmented in nature.
• Market to observe 7.9% YOY growth in 2023.

Market Dynamics:

Trend

• The augmented demand for smart cameras is an emerging trend shaping the market growth. 
• Smart cameras usually support MCV by digitizing and transmitting still /images for computer analysis.
• Generally, they are created particularly for specialized applications where space constraints require a small footprint.
• Smart cameras are used for various automation functions as a complement to a multipart MCV or as a standalone /image processing unit.

Challenges

• The high cost associated with implementing machine vision cameras can majorly hinder the growth of the market. 
• Machine vision systems mainly leverage cameras, software, and advanced technology. In addition, the overall price of these systems is rather expensive and needs a high initial cost. As a result, this poses a significant threat to end-users, especially small and medium enterprises (SMEs) in both developed and developing countries.
• Furthermore, customization and other operational requirements based on the intended use of multiple cameras in industrial applications also increase the cost.
• Hence, such factors hinder the market growth during the forecast period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

• The market share growth of the PC-based camera segment is significant during the forecast period. This segment easily interfaces with /image acquisition boards. In addition, PC-based systems enable to integrate with direct-attached cameras and /or image capture cards and are fully supported by configurable vision application software. Furthermore, PC-based vision cameras have efficient processing power and can handle complex operations at high speed which is fuelling the growth of this segment which in turn drives the market growth.

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Related Reports:

The Machine Vision (MV) market size is estimated to grow at a CAGR of 9.78% between 2022 and 2027. The market size is forecast to increase by USD 7,234.81 million. 

The industrial machine vision market size is estimated to grow at a CAGR of 8.4% between 2022 and 2027 and the size of the market is forecast to increase by USD 4,218.42 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Platform 

Market Segmentation by Type 

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio