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Machine Vision Market Report | Covid-19 Impact Analysis
The Machine Vision Market is Segmented by Deployment Type (General Machine Vision System, Robotic Cell), by Component Type (Hardware, Software), by Product Type (PC-based Machine Vision System, Smart Cameras-based Machine Vision System), by Application Type (Quality Assurance & Inspection, Positio...
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Machine vision market is likely to grow at an impressive CAGR of 6.5% during the forecast period. The major factors driving the growth of the machine vision market are surge in demand for industrial automation or smart factories, vision-guided robotic systems, and their increasing application in pharmaceutical and food packaging industries.
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Machine Vision Market - Snapshot |
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Growth |
6.5% for the next five years |
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Major Deployment Type |
General Machine Vision System |
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Major Component Type |
Hardware |
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Major Product Type |
PC- based Machine Vision System |
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Major Application Type |
Quality Assurance and Inspection |
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Dominant End-Use Industry Type |
Automotive Industry |
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Region with the Highest Demand |
Asia-Pacific |
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Key Players |
Cognex Corporation, Basler AG, Omron Corporation), Keyence National Instruments, Sony Corporation, Teledyne Technologies, Texas Instruments, Intel Corporation, ISRA Vision, Sick AG, and FLIR Systems |
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Based on the deployment type, the market is segmented as general machine vision system and robotic cell. The general machine vision system segment held the larger share of the market in 2019, whereas the robotic cell segment is expected to experience a faster growth during the forecast period. Robotic cells are cost-effective and can handle increasing number of product variants, which is driving the growth of the segment.
Based on the component type, the market is segmented as hardware and software. The hardware segment held the larger share of the market in 2019, and is expected to experience a faster growth during the forecast period. The market for the software segment is expected to experience a steadier growth during the same period owing to the training and deep learning of the technology.
Based on the product type, the machine vision market is segmented as PC-based machine vision system and smart cameras-based machine vision system. The PC-based machine vision system segment dominated the market in 2019, whereas the smart cameras-based machine vision system segment is expected to experience a faster growth during the forecast period. The growth of the smart cameras-based machine vision system segment is attributed by its advantages, such as cost-effectiveness, compact size, and flexibility, and also the increasing adoption of cameras in 3D imaging.
Based on the application type, the machine vision market is segmented automotive, electronics and semiconductor, consumer electronics, glass, metals, wood and paper, pharmaceutical, food and packaging, rubber and plastics, printing, machinery, solar panel manufacturing, and textile. The quality assurance & inspection segment held the largest share of the market in 2019, whereas the predictive maintenance segment is expected to experience the fastest growth during the forecast period. Predictive maintenance is carried out when a particular item is in the degradation state and helps in reducing the cost as compared to other techniques.
Based on the end-use industry type, the market is segmented as automotive, electronics and semiconductor, healthcare, food & packaging, and others. The automotive industry segment held the largest share of the market in 2019, owing to the higher adoption of machine vision systems as they provide improved accuracy in critical activities, such as bin picking and positioning of parts (doors and panels) for assembly. The segment is likely to lead the market during the forecast period as well.
In terms of regions, Asia-Pacific was the major market in 2019, and is expected to maintain its dominance during the forecast period. The growth of the region’s market can be attributed to the major countries, such as China, Japan, India, and South Korea, which have the largest manufacturing facilities, wherein automation of manufacturing processes has been considered as the highest priority. The region’s rapid industrial expansion has been immensely contributing to the success and development of various innovations with the adoption of different technologies.
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Some of the major players in the machine vision market are-
A machine vision system is a technology which provides imaging-based automatic inspection and analyzes the product, depending on different parameters of quality and safety. It consists of back-end image processing hardware and software and digital cameras. The major components of the system are lighting, lens, image sensors, vision processing, and communication devices.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Machine Vision Market Research Report - Features |
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Market Segmentation |
6 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
17 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The machine vision market is segmented into the following categories.
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
Machine vision market is expected to witness an impressive growth of 6.5% CAGR in the foreseeable future.
Cognex Corporation, Basler AG, Omron Corporation, Keyence National Instruments, Sony Corporation, Teledyne Technologies, Texas Instruments, Intel Corporation, ISRA Vision, Sick AG, and FLIR Systems are among the key players in the machine vision market.
Asia-pacific is expected to remain dominant in the machine vision market during the next five years.
The smart cameras-based machine vision system segment is expected to experience a faster growth in the machine vision market in the coming years.
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