Machine Vision Market Growth, Key Players, and Revenue Insights by 2024
Dive into the Machine Vision Market with insights on growth, key players, and revenue trends by 2024.
The study of the global Machine Vision Market is presented in the report, which is a thoroughly researched presentation of the data. The analysis delves into some of the key facets of the global Machine Vision Market and shows how drivers like pricing, competition, market dynamics, regional growth, gross margin, and consumption will affect the market’s performance. A thorough analysis of the competitive landscape and in-depth company profiles of the top players in the Machine Vision Market are included in the study. It provides a summary of precise market data, including production, revenue, market value, volume, market share, and growth rate.
The best investment markers are insights into the most prominent market trends, which help potential participants make decisions even easier. The research aims to discover the numerous growth chances that readers may take into consideration and take advantage of using all the necessary information. The market growth over the coming years can be predicted with greater accuracy by carefully examining the important growth-influencing aspects including pricing, production, profit margins, and value chain analyses.
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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.
The Machine Vision Market has grown significantly due to factors such as increased product demand, an expanding client base, and technological advancements. This report provides a comprehensive overview of the industry, covering market size, trends, key drivers and challenges, competition dynamics, and potential growth opportunities. Recent Industry Developments:
- 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.
Key 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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Market Overview:
- Current Market Trends: Analysis of the latest developments shaping the market landscape.
- Segmentation Analysis: Breakdown of the market by key segments and regional dynamics.
- Pricing Strategy Evaluation: In-depth examination of pricing trends within the industry.
- COVID-19 Impact Assessment: Exploration of how the pandemic has affected market behaviors and trends.
- Market Projections: Forecasting future market growth and potential shifts.
Key Report Highlights:
- Insight into the primary growth drivers and challenges facing the market.
- An extensive review of regional advancements and their implications.
- A compilation of leading industry players and their market positions.
- Strategies employed by significant market participants.
- Updates on recent industry movements, including product launches and mergers.
- Analysis of factors that may restrict growth and the regional market presence affecting trends beyond 2032.
This market research report is meticulously crafted to deliver a thorough understanding of the industry’s trajectory, equipping businesses with the insights necessary for strategic decision-making. The Machine Vision Market Report spans over 130+ pages and includes a detailed table of contents featuring figures, tables, graphs, and comprehensive analysis.
Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Key Insights
- Industry Developments (Mergers, Acquisitions, Partnerships)
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Innovations
- Value Chain Analysis
- TOC Continued…
This study presents a detailed view of the market landscape, categorized by sub-regions and countries. It identifies potential profit avenues, alongside market share and growth forecasts for each geographical area.
Segmentation of this report:
Machine Vision Market Size, Share & COVID-19 Impact Analysis, By Type (1-D Vision System, 2-D Vision System, and 3-D Vision System), By System (PC based, Smart Camera, and Others), By Industry (Semiconductor, Healthcare, Automotive, Manufacturing, and Others), and Regional Forecast, 2023-2030
Machine Vision Market Drivers & Restrains:
- Driver: Advancements in Artificial Intelligence and Machine Learning
The integration of AI and machine learning technologies enhances the capabilities of machine vision systems, improving accuracy, efficiency, and application versatility.
- Driver: Increasing Automation in Manufacturing
The push towards automation in manufacturing processes drives demand for machine vision systems, which are crucial for quality control, defect detection, and process optimization.
- Driver: Rising Demand for Quality and Safety
Growing consumer expectations for high-quality and safe products lead to increased adoption of machine vision systems for rigorous inspection and quality assurance across various industries.
- Restraint: High Initial Costs
The high cost of advanced machine vision systems, including hardware and software components, can be a significant barrier for small and medium-sized enterprises looking to invest in these technologies.
- Restraint: Complexity of Integration
Integrating machine vision systems into existing manufacturing processes or IT infrastructures can be complex and require specialized expertise, potentially leading to increased implementation time and costs.
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