Machine Vision Camera Market to Grow by USD 1.74 Billion (2024-2028), Driven by Rising Demand in Non-Industrial Sectors, AI Redefining Market Landscape - Technavio

NEW YORK, Nov. 22, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global machine vision (MV) camera market size is estimated to grow by USD 1.74 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.31% during the forecast period. Increased demand in non-industrial sectors is driving market growth, with a trend towards augmented demand for smart cameras. However, high cost of implementation poses a challenge.Key market players include 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., Teledyne Technologies Inc., and TKH Group NV.

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Market Driver

Machine Vision (MV) cameras, also known as machine vision cameras, are essential tools in various industries for tasks like position guidance, measurement, identification, and pattern recognition. Smart cameras and PC-based cameras lead the market, with wireless, wearable, and UAV-based cameras gaining traction. Trends include automation in manufacturing, agriculture drones, 3D modeling, and AI-driven image recognition algorithms. Strategic partnerships and advanced manufacturing technologies, such as digital sensors and USB3 cameras, fuel growth. Applications span from quality assurance in manufacturing industries to inspection in aerospace and transportation. Lens types, including wideangle, normal, telephoto, and wide area lenses, cater to diverse needs. Emerging areas include autonomous vehicles, parking cameras, CMS cameras, SVS cameras, barcode scanners, and 3D imaging cameras. Production capacity is expanding, driven by increasing demand for automation technology in industries like semiconductors, electric vehicles, and connected vehicles. 

Smart cameras play a significant role in Machine Vision (Mv) systems by digitizing and transferring frames for analysis. These cameras have an embedded image sensor and are custom-built for specialized applications with space constraints. They are used for various automated functions, either as a supplement to multi-part Mv systems or as standalone image-processing units. Smart cameras are a cost-effective and user-friendly option for industrial production, particularly for inspection and quality assurance. Their compact size makes them ideal for manufacturing operations seeking to streamline automation methods or integrate vision systems. Smart cameras are increasingly popular in industries for enhancing productivity and ensuring consistent product quality. 

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Market Challenges

• The Machine Vision (MV) camera market is experiencing significant growth due to increasing demand for automation and quality assurance in various industries. Key applications include position guidance, measurement, identification, and pattern recognition in manufacturing, smart manufacturing, and advanced manufacturing processes. Challenges in this market include the need for high-speed image recognition algorithms, smart cameras, and PC-based cameras for wireless and wearable applications. Strategic partnerships, USB3 cameras, and advanced automation technology are driving innovation in this space. MV cameras play a crucial role in industries such as aerospace, transportation, semiconductors, and agriculture drones, enabling 3D modeling, microscopy, and inspection. Lens types like wideangle, normal, telephoto, and wide area lenses cater to diverse applications. The market is also witnessing growth in UAV-based inspections for power lines, facilities, and quality tests in manufacturing operations. The compact footprint and embedded image processing capabilities of MV cameras make them ideal for industrial production and automation technology in electric vehicles, connected vehicles, and autonomous vehicles. Barcode scanners, 3D imaging cameras, line scan cameras, and CMS/SVS cameras are other important MV camera types.
• Machine vision systems incorporate cameras, software, and advanced technologies for image analysis in various industries. The cost of these systems is substantial, presenting a challenge for small and medium-sized enterprises (SMEs) in both developed and developing countries. Customization and operational requirements increase the overall expense. End-users tailor their machine vision systems to specific applications, incurring additional costs for servicing. Smart cameras, equipped with advanced technologies for image clarity and precision, also carry a high base price. These factors may hinder the adoption of machine vision systems by some businesses.

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Segment Overview

This machine vision (mv) camera market report extensively covers market segmentation by

1. Platform
• 1.1 PC based camera
• 1.2 Smart camera
• 1.3 Wireless camera
• 1.4 Wearable camera
2. Type
• 2.1 Line scan
• 2.2 Area scan
• 2.3 3D scan cameras
3. Geography
• 3.1 APAC
• 3.2 North America
• 3.3 Europe
• 3.4 Middle East and Africa
• 3.5 South America

1.1 PC based camera- PC-based machine vision systems offer flexible interfacing with direct-connect cameras or image acquisition boards, and are backed by configurable application software. These systems boast efficient processing power, enabling them to handle complex operations swiftly. The broader range of capabilities allows PC systems to compensate for unexpected variables in tasks. In August 2020, Omron Automation Americas introduced a new machine vision solutions package for PC-based systems. The FJ2 cameras boast advanced CMOS sensors, frame rates of up to 282 FPS, and resolutions from 0.4 MP to 5 MP in monochrome and color versions. This new product launch is expected to bolster market growth during the forecast period.

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Research Analysis

Machine Vision (MV) cameras are advanced imaging devices designed to process and analyze visual information in real-time. They are essential components of machine vision systems used in various industries for position guidance, measurement, and pattern recognition. MV cameras come in different types, including smart cameras, wireless cameras, wearable cameras, parking cameras, CMS cameras, SVS cameras, barcode scanners, 3D imaging cameras, and line scan cameras. Each type caters to specific applications. Lens type is another crucial factor, with wide-angle lenses providing a broader field of view and normal lenses offering a more standard perspective. MV cameras are integrated into handheld systems, robotic systems, and production lines to enhance automation and improve product quality.

Market Research Overview

Machine Vision (MV) cameras, also known as machine vision cameras, are advanced imaging devices designed for automating industrial processes through position guidance, measurement, identification, and pattern recognition. They employ imagerecognition algorithms to analyze data from digital sensors and provide solutions for industries such as manufacturing, aerospace, transportation, and agriculture. MV cameras come in various forms, including smart cameras, PC-based cameras, wireless cameras, wearable cameras, and more. Advanced manufacturing industries, including smart factories and automated production lines, heavily utilize MV cameras for quality assurance, inspection, and automation. Applications range from microscopy and barcode scanning to 3D modeling and autonomous vehicle parking cameras. Strategic partnerships and the adoption of AI and machine learning technologies continue to drive innovation in the MV camera market. MV cameras are available in various types, including smart camera-based systems, advanced manufacturing solutions, and specialized applications like line scan cameras, 3D imaging cameras, and UAV-based inspections. Lens types, such as wideangle, normal, telephoto, and wide area lenses, cater to different use cases. With a compact footprint and high production capacity, MV cameras are essential tools for industrial operations and quality tests, enabling the identification of components and ensuring efficient, accurate, and consistent manufacturing processes.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Platform
• PC Based Camera
• Smart Camera
• Wireless Camera
• Wearable Camera
• Type
• Line Scan
• Area Scan
• 3D Scan Cameras
• Geography
• APAC
• North America
• Europe
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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