Machine Vision Market
Machine Vision Market Forecasts to 2030 - Global Analysis By Component Type (Hardware, Software and Other Component Types), Camera Type, Deployment Mode, Application, End User and By Geography
According to Stratistics MRC, the Global Machine Vision Market is accounted for $11.7 billion in 2024 and is expected to reach $20.4 billion by 2030 growing at a CAGR of 9.7% during the forecast period. Machine vision is a field of technology that enables computers or machines to interpret and process visual information, typically through cameras or sensors. It involves capturing images or videos and analyzing them using algorithms to detect, identify, and respond to objects, patterns, or specific features. This technology is widely used in various industries, including manufacturing, robotics, quality control, and medical imaging, to automate tasks, ensure accuracy, and enhance efficiency. By mimicking human vision, machine vision systems enable machines to make decisions based on visual data in real-time.
According to a report published by the Ministry of Land, Infrastructure and Transport (South Korea), around 390 thousand electric vehicles were registered in South Korea in 2022, with a sharp increase recorded after 2013. Together with hybrid and hydrogen vehicles, the share of environment-friendly vehicles among the total number of registered vehicles in South Korea was about 6.2%.
Market Dynamics:
Driver:
Increased demand for automation
The growing demand for automation in the market is driven by the need for improved efficiency, accuracy, and cost-effectiveness across industries. Automation reduces human error, enhances production speed, and ensures consistent quality control, particularly in manufacturing and industrial sectors. As businesses strive for higher productivity and precision, machine vision systems are increasingly integrated into automated processes, leading to significant growth in the adoption of this technology globally.
Restraint:
Complexity of implementation
The complexity of implementing machine vision systems can pose significant challenges in the market. High installation costs, the need for specialized knowledge, and integration with existing processes often deter smaller companies from adopting the technology. Additionally, the complexity of setup and calibration can lead to longer deployment times, potential system errors, and increased maintenance requirements. These factors can hinder the widespread adoption and limit the full potential of machine vision in various industries.
Opportunity:
Growing demand for quality and safety
The rising demand for quality and safety in the market is fueled by the need for precise inspection, defect detection, and adherence to stringent standards across various industries. Machine vision systems help ensure high-quality products and safe working environments by automating quality control, identifying defects, and preventing hazards. This trend is particularly prominent in manufacturing, automotive, and healthcare sectors, where maintaining quality and safety is critical for operational success and compliance.
Threat:
High initial investment
The high initial investment required for machine vision systems can be a major barrier for many businesses, especially small and medium-sized enterprises. The cost of cameras, sensors, software, and integration can be substantial, limiting accessibility to only well-funded companies. This upfront financial burden can delay adoption and hinder the growth of the machine vision market, preventing many organizations from realizing the potential benefits of automation and enhanced quality control.
Covid-19 Impact:
The COVID-19 pandemic had a mixed impact on the market. While it disrupted supply chains and delayed project implementations, it also accelerated the adoption of automation and contactless technologies in industries like manufacturing, healthcare, and logistics. The increased focus on efficiency, safety, and social distancing pushed businesses to invest in machine vision systems for quality control, monitoring, and remote operations, leading to a post-pandemic market recovery.
The line scan cameras segment is expected to be the largest during the forecast period
The line scan cameras segment is anticipated to account for the largest market share during the projection period due to their ability to capture high-resolution images of moving objects in a single line. These cameras are ideal for applications like web inspection, sorting, and surface defect detection in industries such as manufacturing, packaging, and printing. Their ability to provide detailed, continuous imaging with minimal distortion makes them essential for high-speed, high-accuracy quality control and automation processes.
The agriculture segment is expected to have the highest CAGR during the forecast period
The agriculture segment is expected to have the highest CAGR during the extrapolated period. In agriculture, machine vision systems are used for crop monitoring, disease detection, weed identification, and yield estimation. These systems help optimize resource usage, reduce costs, and enhance crop quality by providing real-time insights. As the demand for sustainable and efficient farming practices grows, machine vision plays a crucial role in improving productivity and decision-making in agriculture.
Region with largest share:
North America region is anticipated to account for the largest market share during the forecast period due to increasing automation, demand for quality control, and technological advancements across industries like automotive, manufacturing, and healthcare. The region benefits from a strong industrial base, high adoption of innovative technologies, and a growing focus on efficiency and precision. Additionally, key players in the U.S. and Canada are driving market expansion through continuous product innovation and strategic partnerships.
Region with highest CAGR:
Asia Pacific is expected to register the highest growth rate over the forecast period. The increasing trend toward automation in manufacturing industries, particularly in automotive, electronics, and consumer goods, is a major driver. The integration of AI and ML with machine vision systems enhances their ability to perform complex tasks, such as pattern recognition, defect detection, and predictive maintenance. Additionally, Companies are increasingly investing in machine vision solutions for robotics, autonomous vehicles, and inspection systems.
Key players in the market
Some of the key players in Machine Vision market include Zebra Technologies, Cognex Corporation, Keyence Corporation, Basler AG, Omron Corporation, Teledyne Technologies, National Instruments, Sony Corporation, SICK AG, Banner Engineering, Allied Vision Technologies, ABB Ltd., Panasonic Corporation, KUKA AG, Toshiba Teli Corporation, Datalogic S.p.A. and DENSO Corporation.
Key Developments:
In July 2024, Kayence, a leading machine system and component manufacturer, launched its all-in-one 3D inspection system, the 3D laser snapshot sensor LJ-S8000 series, with a building scanning mechanism. It has versatile applications in 3D dimensional measurement, 3D appearance inspection, and 3D identification and differentiation.
In March 2024, Cognex, a prominent industrial MV System supplier, extended its product portfolio with a modern vision tunnel featuring a DataMan 380 barcode reader. The 380 modular vision offers high throughput and traceability with a 380 barcode reader and robust system architecture.
Component Types Covered:
• Hardware
• Software
• Other Component Types
Camera Types Covered:
• Area Scan Cameras
• Line Scan Cameras
• Smart Cameras
• 3D Cameras
Deployment Modes Covered:
• On-Premises
• Cloud-Based
Applications Covered:
• Robotic Vision
• Automated Inspection
• Sorting & Grading
• Guidance Systems
• Measurement & Gauging
• Other Applications
End Users Covered:
• Logistics & Warehousing
• Agriculture
• Healthcare & Medical Imaging
• Automotive
• Aerospace & Defense
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Machine Vision Market, By Component Type
5.1 Introduction
5.2 Hardware
5.2.1 Cameras
5.2.2 Sensors
5.2.3 Lighting
5.2.4 Processors
5.2.5 Lenses and Optics
5.3 Software
5.3.1 Machine Vision Software
5.3.2 Artificial Intelligence (AI) & Deep Learning Software
5.3 Other Component Types
6 Global Machine Vision Market, By Camera Type
6.1 Introduction
6.2 Area Scan Cameras
6.3 Line Scan Cameras
6.4 Smart Cameras
6.5 3D Cameras
7 Global Machine Vision Market, By Deployment Mode
7.1 Introduction
7.2 On-Premises
7.3 Cloud-Based
8 Global Machine Vision Market, By Application
8.1 Introduction
8.2 Robotic Vision
8.3 Automated Inspection
8.4 Sorting & Grading
8.5 Guidance Systems
8.6 Measurement & Gauging
8.7 Other Applications
9 Global Machine Vision Market, By End User
9.1 Introduction
9.2 Logistics & Warehousing
9.3 Agriculture
9.4 Healthcare & Medical Imaging
9.5 Automotive
9.6 Aerospace & Defense
9.7 Other End Users
10 Global Machine Vision Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Zebra Technologies
12.2 Cognex Corporation
12.3 Keyence Corporation
12.4 Basler AG
12.5 Omron Corporation
12.6 Teledyne Technologies
12.7 National Instruments
12.8 Sony Corporation
12.9 SICK AG
12.10 Banner Engineering
12.11 Allied Vision Technologies
12.12 ABB Ltd.
12.13 Panasonic Corporation
12.14 KUKA AG
12.15 Toshiba Teli Corporation
12.16 Datalogic S.p.A.
12.17 DENSO Corporation
List of Tables
1 Global Machine Vision Market Outlook, By Region (2022-2030) ($MN)
2 Global Machine Vision Market Outlook, By Component Type (2022-2030) ($MN)
3 Global Machine Vision Market Outlook, By Hardware (2022-2030) ($MN)
4 Global Machine Vision Market Outlook, By Cameras (2022-2030) ($MN)
5 Global Machine Vision Market Outlook, By Sensors (2022-2030) ($MN)
6 Global Machine Vision Market Outlook, By Lighting (2022-2030) ($MN)
7 Global Machine Vision Market Outlook, By Processors (2022-2030) ($MN)
8 Global Machine Vision Market Outlook, By Lenses and Optics (2022-2030) ($MN)
9 Global Machine Vision Market Outlook, By Software (2022-2030) ($MN)
10 Global Machine Vision Market Outlook, By Machine Vision Software (2022-2030) ($MN)
11 Global Machine Vision Market Outlook, By Artificial Intelligence (AI) & Deep Learning Software (2022-2030) ($MN)
12 Global Machine Vision Market Outlook, By Other Component Types (2022-2030) ($MN)
13 Global Machine Vision Market Outlook, By Camera Type (2022-2030) ($MN)
14 Global Machine Vision Market Outlook, By Area Scan Cameras (2022-2030) ($MN)
15 Global Machine Vision Market Outlook, By Line Scan Cameras (2022-2030) ($MN)
16 Global Machine Vision Market Outlook, By Smart Cameras (2022-2030) ($MN)
17 Global Machine Vision Market Outlook, By 3D Cameras (2022-2030) ($MN)
18 Global Machine Vision Market Outlook, By Deployment Mode (2022-2030) ($MN)
19 Global Machine Vision Market Outlook, By On-Premises (2022-2030) ($MN)
20 Global Machine Vision Market Outlook, By Cloud-Based (2022-2030) ($MN)
21 Global Machine Vision Market Outlook, By Application (2022-2030) ($MN)
22 Global Machine Vision Market Outlook, By Robotic Vision (2022-2030) ($MN)
23 Global Machine Vision Market Outlook, By Automated Inspection (2022-2030) ($MN)
24 Global Machine Vision Market Outlook, By Sorting & Grading (2022-2030) ($MN)
25 Global Machine Vision Market Outlook, By Guidance Systems (2022-2030) ($MN)
26 Global Machine Vision Market Outlook, By Measurement & Gauging (2022-2030) ($MN)
27 Global Machine Vision Market Outlook, By Other Applications (2022-2030) ($MN)
28 Global Machine Vision Market Outlook, By End User (2022-2030) ($MN)
29 Global Machine Vision Market Outlook, By Logistics & Warehousing (2022-2030) ($MN)
30 Global Machine Vision Market Outlook, By Agriculture (2022-2030) ($MN)
31 Global Machine Vision Market Outlook, By Healthcare & Medical Imaging (2022-2030) ($MN)
32 Global Machine Vision Market Outlook, By Automotive (2022-2030) ($MN)
33 Global Machine Vision Market Outlook, By Aerospace & Defense (2022-2030) ($MN)
34 Global Machine Vision Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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