Machine Vision Market: Revenue Forecast, Growth Drivers, and Key Trends by 2024

The Machine Vision Market sector is undergoing significant transformation, with substantial growth and technological advancements expected by 2032. According to a new in-depth market research report, the sector is poised for expansion, driven by various factors such as market size, share, and emerging trends.

This comprehensive report provides key insights into the Machine Vision Market, exploring critical market segmentation and definitions. It highlights the essential components driving growth, offering a clear picture of the industry’s trajectory. Utilizing SWOT and PESTEL analyses, the report evaluates the market’s strengths, weaknesses, opportunities, and threats, while also considering political, economic, social, technological, environmental, and legal factors that impact the market landscape.

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Market Summary:

The global machine vision market size was valued at USD 9.01 billion in 2022 and is projected to grow from USD 9.68 billion in 2023 to USD 16.82 billion by 2030, exhibiting a CAGR of 8.2% during the forecast period of 2023-2030. The North America dominated the machine vision market with a share of 38.62% in 2022.

Recent industry developments are;

• German innovator in lighting technology SAC Sirius Advanced Cybernetics GmbH (“SAC”) has been acquired by Cognex. The acquisition broadens Cognex’s reach into sectors like automotive and consumer electronics that produce products quickly and with little tolerance for failures that endanger safety.
• To support the NVIDIA® Jetson OrinTM Nano system-on-modules (SOMs), which have raised the bar for entry-level edge Artificial Intelligence (AI) and robotics, Basler introduced add-on camera kits with 5 and 13 MP.
• The 2-megapixel Optimom from Teledyne e2v is a collection of turnkey optical modules that can be “instantly” integrated into embedded-vision systems. It has a compact board, an FPC connector that is widely used in the industry, an integrated low-noise global shutter image sensor from Teledyne e2v, and supplemental lenses.
• The innovative “VT-S10 Series” PCB inspection system has been released by OMRON Corporation. With the help of this system, high-precision inspection of electronic substrates is automated without the need for specialized knowledge.
• Cognex unveiled its newest line of portable barcode scanners, the DataMan 8700 Series, which is based on a brand-new technology platform. The apparatus offers state-of-the-art performance and is incredibly easy to use, requiring no prior tuning or operator training.

Browse Detailed TOC, Tables and Figures with Charts which is spread across 100+ Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

Major Players:

Cognex Corporation (U.S.), Basler AG (Germany), Omron Corporation (Japan), Keyence (Japan), National Instruments (U.S.), Sony Corporation (Japan), Teledyne Technologies (U.S.), Texas Instruments (U.S.), Intel Corporation (U.S.), ViDi Systems SA (Switzerland)

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Machine Vision Market Segmentation:

By Type

• 1-D Vision System
• 2-D Vision System
• 3-D Vision System

By System

• PC based
• Smart Camera
• Others (Compact, etc.)

By Industry

• Semiconductor
• Healthcare
• Automotive
• Manufacturing
• Others (Retail, Banking, etc.)

Reasons to purchase this report:

This report offers a detailed analysis of the competitive landscape, emerging growth areas, market conditions, and key trends within the Machine Vision Market. It helps businesses identify expansion opportunities while addressing potential risks and challenges. By assessing product portfolios and business segments, the report provides valuable insights that guide stakeholders in formulating informed investment and market strategies.

The in-depth understanding of industry dynamics presented in the report supports the creation of effective strategies for success in the Machine Vision Market, greatly enhancing decision-making. Overall, this report is an essential resource for those looking to stay updated in this rapidly evolving industry.

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Drivers & Restraints:

• Drivers:
  • Growing demand for automation and quality control in manufacturing processes.
  • Advancements in artificial intelligence and deep learning enhancing machine vision capabilities.
• Restraints:
  • High implementation costs and complexity of integrating machine vision systems into existing processes.
  • Lack of skilled workforce to operate and maintain advanced machine vision technologies.

Table of Contents:

• Introduction
  • Research Scope
  • Market Segmentation
  • Research Methodology
  • Definitions and Assumptions
• Executive Summary
• Market Dynamics
  • Market Drivers
  • Market Restraints
  • Market Opportunities
• Key Insights
  • Key Industry Developments – Merger, Acquisitions, and Partnerships
  • Porter’s Five Forces Analysis
  • SWOT Analysis
  • Technological Developments
  • Value Chain Analysis

TOC Continued…!

Machine Vision Market Regional Segmentation:

• North America (By Type, System, Industry and Country)
  • U.S. (By System)
  • Canada (By System)
  • Mexico (By System)
• Europe (By Type, System, Industry and Country)
  • U.K. (By System)
  • Germany (By System)
  • France (By System)
  • Italy (By System)
  • Spain (By System)
  • Russia (By System)
  • Benelux (By System)
  • Nordics (By System)
  • Rest of Europe
• Asia Pacific (By Type, System, Industry and Country)
  • China (By System)
  • India (By System)
  • Japan (By System)
  • South Korea (By System)
  • ASEAN (By System)
  • Oceania (By System)
  • Rest of Asia Pacific
• The Middle East & Africa (By Type, System, Industry and Country)
  • South Africa (By System)
  • North Africa (By System)
  • GCC (By System)
  • Israel (By System)
  • Turkey (By System)
  • Rest of the Middle East & Africa
• South America (By Type, System, Industry and Country)
  • Brazil (By System)
  • Argentina (By System)
  • Rest of Latin America

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