Global Machine Vision Market 2023-2030: Integration of Machine Vision With Cloud Technology Presents Opportunities

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Mar 29, 2023, 17:30 ET

DUBLIN, March 29, 2023 /PRNewswire/ -- The "Global Machine Vision Market 2023-2030" report has been added to ResearchAndMarkets.com's offering.

Based on the publisher's analysis, the global machine vision market is expected to progress with a CAGR of 5.90% during the forecasted period 2023-2030.

Factors such as the widening applications of MV systems and the increasing need for proper defect detection are key drivers of the global market. The increased need for smart factories and the trend of miniaturized products have also supported the machine vision market's growth worldwide.

Conversely, unawareness about the benefits of MV systems and the lack of experts to operate these systems effectively are factors hindering the overall development of this market. The lack of standardization and the complications associated with implementing machine vision systems are also hindering their adoption.

On the bright side, the growing automation in industrial applications and the use of the IIoT are expected to offer lucrative opportunities for growth. The constant development of CMOS image sensors and the integration of machine vision with cloud technology have additionally opened growth avenues for the studied market.

REGIONAL OUTLOOK

The global machine vision market report covers the regions of Latin America, Europe, the Asia-Pacific, North America, and the Middle East and Africa.

The Asia-Pacific is estimated to emerge as the fastest-growing region in the global market over the assessed duration. This robust growth is primarily due to the increased need to decrease ownership costs and improve productivity & accuracy.

Additionally, as per estimates, the region witnesses heightened demand from the industrial sector due to the increased outsourcing of activities to major countries here.

Furthermore, several American and European manufacturing companies are setting up operations in the region due to the availability of affordable labor. All these factors supplement the growth of the machine vision market in the Asia-Pacific.

COMPETITIVE OUTLOOK

The well-known enterprises profiled in the machine vision market are Jai AS, Baumer Electric AG, Basler AG, Keyence Corporation, National Instruments Corporation (NI), Teledyne Technologies Incorporated, Optotune AG, FLIR Systems Inc, USS Vision, Isra Vision AG, Datalogic SpA, Omron Corporation, Allied Vision Technologies GmbH, Cognex Corporation, and Perceptron Inc.

National Instruments Corporation (NI) offers a suite of hardware and software solutions, and related products for testing. It also offers hardware services & maintenance as well as software services & maintenance.

NI serves industries and applications, including automotive, advanced research, automated test equipment, computers & electronics, commercial aerospace, continuous process manufacturing, semiconductors, medical research/pharmaceutical, government/defense, education, power/energy, and telecommunications.

The company operates across North America, the Asia-Pacific, Latin America, Europe, and the Middle East and Africa. Founded in 1976, National Instruments Corporation has a strong workforce of 7,300 employees.

Market Dynamics

Market Drivers

Increased Need for Smart Factories
Widening Applications of MV Systems
Rising Need for Proper Defect Detection
Trend of Miniaturized Products

Market Challenges

Lack of Expertise
Unawareness About the Benefits of Machine Vision Systems
Complications Associated With the Implementation of MV Systems
Lack of Standardization

Market Opportunities

Continuous Development of CMOS Image Sensors
Adoption of Industrial Internet of Things (IIoT)
Integration of Machine Vision With Cloud Technology
Growing Automation in Industrial Applications

Key Topics Covered:

1. Global Machine Vision Market - Summary

2. Industry Outlook

3. Global Machine Vision Market - by Type
3.1. 1D Machine Vision
3.2. 2D Machine Vision
3.3. 3D Machine Vision

4. Global Machine Vision Market - by Component
4.1. Hardware
4.1.1. ASMV
4.1.2. Cameras
4.1.3. Sensors
4.1.4. Illuminations
4.1.5. Processors
4.1.6. Other Hardware Components
4.2. Software

5. Global Machine Vision Market - by Application
5.1. Inspection
5.2. Gauging
5.3. Guidance
5.4. Identification
5.5. Other Applications

6. Global Machine Vision Market - by Vertical
6.1. Automotive
6.2. Electronics & Semiconductors
6.3. Healthcare
6.4. Food & Packaging
6.5. Other Verticals

7. Global Machine Vision Market - Regional Outlook

8. Competitive Landscape

9. Research Methodology & Scope

A selection of companies mentioned in this report includes

Cognex Corporation
Allied Vision Technologies GmbH
Basler AG
Teledyne Technologies Incorporated
Baumer Electric AG
Datalogic Spa
Uss Vision
Keyence Corporation
Flir Systems Inc
Jai As
Perceptron Inc
Optotune AG
Isra Vision AG
Omron Corporation
National Instruments Corporation (Ni)

For more information about this report visit https://www.researchandmarkets.com/r/iaww3s

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