Machine Vision Market Worth $9.50 Billion by 2020

Jul 15, 2015, 12:00 ET from MarketsandMarkets

DALLAS, July 15, 2015 /PRNewswire/ --

The report "Machine Vision Market by Component (Optics, Software), Product (PC Based, Embedded),Technology (Imaging, Laser, Augmented), Application, Vertical (Pharmaceutical, Security, Automotive, Defense) & by Geography- Analysis & Forecast (2014 - 2020)" , published by MarketsandMarkets, the total value of machine vision market is expected to reach $9.50 Billion by 2020 at an estimated to grow at a CAGR of 12.51% from 2014 to 2020, which includes an in-depth analysis of the market by component, product, technology, application, verticals,and geography.

Browse 145 market data Tables and 83 Figures spread through 243 Pages and in-depth TOC on "Machine Vision Market".

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The global market for machine vision system has flourished recently, which made the Americas as a crown holder of the present machine vision market. The major reason for the growth of this market is the increase of automation in the industrial sector. Machine vision technology and products help in reducing production costs and ensures high level of product quality that are necessary in a competitive world market. It is used to analyze and inspect images through the use of various machine vision software solutions, hardware, and accessories.

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The major verticals which are driving the Machine Vision Market are pharmaceuticals, healthcare, security and surveillance, food and packaging and intelligent transportation system (ITS). Multiple information sensors are used to enable remote surveillance and notification of security breaches in real time for the security & surveillance application. The Machine Vision (MV) systems can identify troublesome events such as; movement in alarm zones and perimeter breaches during off hours without any security staff. In ITS, machine vision improves passenger and operator safety and also enables a smooth flow of traffic. It is also helpful in providing safety and security against threats in high-density transportation settings. For healthcare, pharmaceuticals and food & packaging, MV systems are required for proper inspection and flaw detection procedures.

Market by technology:
The technology segment for machine vision systems market includes imaging technology, image sensors, laser technology, and augmented reality. 

Market by component:
The major components considered for analyses are: cameras, optics, frame grabber and lighting; software & hardware, and peripherals.

Market by verticals:
The verticals market is classified into industrial as well as non-industrial verticals which include: automotive, semiconductor, consumer electronics, food & packaging,glass, metals, printing, healthcare, military & defense, solar, logistics and many more.

Market by application:
The major applications include quality assurance & inspection, tracking, location, measurement, and identification.

Market by product:
The product market is segmented by PC based system, smart camera based system, and embedded machine vision systems.

There has been immense support from private and public sectors for the machine vision market in almost every developed and developing country. Machine vision market in North America grew in 2013, after experiencing a contraction in 2012. Countries such as Mexico, Germany, France, India, China and Japan would witness extensive investment in the machine vision market in the coming years because automation is being highly adopted in these nations gradually.

After the U.K., Germany is a leading market for machine vision system followed by France. The French market was significantly bigger and more dynamic in nature than expected. The domestic market is much more significant for vision suppliers in France, than it is in Germany or Italy. France has a stronger focus on the defense and avionics center, as compared to the rest of Europe. Japan Industrial Imaging Association(JIIA) is an organization from Japan which is fostering technological innovation of industrial imaging promoting global community for those organizations related to industrial imaging and thereby, further contributing to development in the field of these industrial imaging world-wide.

Thus, these factorswill improve the market for machine visionand create new avenues for the industry by spreading awareness about the scope of this market across the globe.

The major players in the machine vision industry are Cognex Corporation (U.S), Teledyne Dalsa (U.S), Basler AG (Germany), Soliton Technologies (India), Vitronic GmbH (Germany), Sick IVP (Germany), JAI (U.S), LMI Technologies (U.S), Adept Technologies Inc. (U.S), MVTech Software GmBH (Germany), Omron Corporation (Japan), Absolute Vision (U.K), Stemmer Imaging (U.K), ISRA Vision (Germany), and Edmund Optics (U.S), Pixelink (U.S) among others.

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