Product Code: SE 5835
"Machine vision market to grow at 7.1% CAGR from 2019 to 2024"
The machine vision market is expected to reach USD 14.0 billion by 2024 from USD 9.9 billion in 2019-at a CAGR of 7.1% from 2019 to 2024. Machine vision helps in improving quality and operational efficiency in the automotive, electronics & semiconductor, consumer electronics, glass, metals, wood & paper, and pharmaceutical industries. Machine vision technology is also used to automate the production process, increase production speed, and improve product quality. The growing demand for artificial intelligence plays a significant role in the growth of the machine vision market. In addition, the growing trend of Industry 4.0 in emerging economies of the world is also expected to propel the growth of the machine vision market during the forecast period.
"Smart camera-based machine vision system to grow at higher CAGR than PC-based system during forecast period"
A smart camera is an intelligent camera that is capable of performing supplementary functions in addition to capturing images. It is capable of integrating optics, illumination, image capturing, and image processing. It can also perform multiple functions without manual assistance by utilizing a processor and computational intelligence. Smart camera-based systems are more cost-effective, compact in size, and easy to use than the PC-based systems and are hence mainly used for quality assurance and inspection applications in industries involved in mass production, such as automotive and consumer electronics.
"Food & packaging end-use industry to grow at highest CAGR from 2019 to 2024"
The food industry provides several opportunities for the machine vision market, and several companies have responded by developing application-specific solutions in the areas of grading, sorting, portioning, processing, and quality checking during processing and packaging. Machine vision systems help in the sorting of tea leaves, vegetables, or fruits. The systems are pre-trained with the required algorithms, which help them understand characteristics such as size, stage of growth, and variety. Machine vision helps in the inspection of packaging processes and reduction of errors by carrying out multiple inspections at a single time.
"APAC likely to witness highest growth in overall market during forecast period"
The machine vision market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to provide ample growth opportunities for the machine vision market since it is considered a manufacturing hub for most industries. China is an ideal destination for production units of various industries, including electronics and automotive. The machine vision market in China is expected to witness a higher growth than in other APAC countries owing to the increasing demand for automation in the country. In addition, the labor cost in China is increasing year on year. Therefore, companies based in China are focusing on using automation systems to reduce production costs. These factors are driving the growth of the machine vision market in China.
Break-up of the profiles of primary participants is as follows:
- By Company Type: Tier 1 - 20%, Tier 2 - 45%, and Tier 3 - 35%
- By Designation: C Level - 20%, Director Level - 12%, Manager - 30%, Others - 38%
- By Region: North America - 25%, Europe - 22%, APAC - 29%, and RoW - 24%
Cognex Corporation (US), Basler AG (Germany), Omron Corporation (Japan), Keyence Corporation (Japan), National Instruments (US), Sony Corporation (Japan), Teledyne Technologies, Inc. (US), Allied Vision Technologies GmbH (Germany), Texas Instruments, Inc. (US), Intel Corporation (US), Baumer Optronic GmbH (Germany), JAI A/S (Denmark), MVTec Software (Germany), Tordivel AS (Norway), ISRA VISION (Germany), Sick (Germany), and FLIR Systems (US) are some of the players operating in the machine vision ecosystem.
This research report segments the machine vision market based on component, application, product, end-use industry, and geography. The report discusses major drivers, restraints, challenges, and opportunities pertaining to the machine vision market and also includes value chain analysis of this industry. The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report would help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall machine vision market and the subsegments. It is also likely to help stakeholders understand the competitive landscape and gain more insights to better position their businesses as well as to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
TABLE OF CONTENTS
- 1.1. OBJECTIVES OF THE STUDY
- 1.2. MARKET DEFINITION
- 1.3. STUDY SCOPE
- 1.3.1. MARKETS COVERED
- 1.3.2. GEOGRAPHIC SCOPE
- 1.3.3. YEARS CONSIDERED FOR THE STUDY
- 1.4. CURRENCY
- 1.5. LIMITATIONS
- 1.6. STAKEHOLDERS
2. RESEARCH METHODOLOGY
- 2.1. INTRODUCTION
- 2.1.1. SECONDARY AND PRIMARY RESEARCH
- 188.8.131.52. Key industry insights
- 2.1.2. SECONDARY DATA
- 184.108.40.206. Major secondary sources
- 220.127.116.11. Key data from secondary sources
- 2.1.3. PRIMARY DATA
- 18.104.22.168. Primary interviews with experts
- 22.214.171.124. Breakdown of primaries
- 126.96.36.199. Key data from primary sources
- 2.2. MARKET SIZE ESTIMATION
- 2.2.1. BOTTOM-UP APPROACH
- 188.8.131.52. Approach for capturing market share by bottom-up analysis (demand side)
- 2.2.2. TOP-DOWN APPROACH
- 184.108.40.206. Approach for capturing market share by top-down analysis (supply side)
- 2.3. MARKET BREAKDOWN AND DATA TRIANGULATION
- 2.4. RESEARCH ASSUMPTIONS
3. EXECUTIVE SUMMARY
4. PREMIUM INSIGHTS
- 4.1. MACHINE VISION MARKET, 2015-2024(USD MILLION)
- 4.2. MACHINE VISION MARKET, BY PRODUCT
- 4.3. MACHINE VISION MARKET IN APAC, BY END-USE INDUSTRY AND COUNTRY
- 4.4. MACHINE VISION MARKET, BY REGION
- 4.5. MACHINE VISION MARKET, BY APPLICATION
5. MARKET OVERVIEW
- 5.1. INTRODUCTION
- 5.2. MARKET DYNAMICS
- 5.2.1. DRIVERS
- 220.127.116.11. Increasing need for quality inspection and automation
- 18.104.22.168. Growing demand for vision-guided robotic systems
- 22.214.171.124. Increasing adoption of 3D machine vision systems
- 126.96.36.199. Increase in manufacturing of hybrid and electric cars
- 5.2.2. RESTRAINTS
- 188.8.131.52. Varying end-user requirements
- 184.108.40.206. Lack of flexible machine vision solutions
- 5.2.3. OPPORTUNITIES
- 220.127.116.11. Government initiatives to support industrial automation
- 18.104.22.168. Increasing demand for AI in machine vision
- 22.214.171.124.1. Government initiatives to boost AI-related technologies
- 126.96.36.199. Growing adoption of Industry 4.0
- 188.8.131.52. Need for miniaturization of cameras and processors
- 184.108.40.206. Rising need for ASICs
- 5.2.4. CHALLENGES
- 220.127.116.11. Complexity in integrating machine vision systems
- 18.104.22.168. Lack of user awareness about rapidly changing machine vision technology
- 5.3. VALUE CHAIN ANALYSIS
- 5.3.1. R&D
- 5.3.2. MACHINE VISION COMPONENT MANUFACTURERS
- 5.3.3. ORIGINAL EQUIPMENT MANUFACTURERS (OEMS)
- 5.3.4. SYSTEM INTEGRATORS
- 5.3.5. RESELLERS AND DISTRIBUTORS
- 5.3.6. END USERS
6. MACHINE VISION MARKET, BY COMPONENT
- 6.1. INTRODUCTION
- 6.2. HARDWARE
- 6.2.1. CAMERAS
- 22.214.171.124. Interface standards
- 126.96.36.199.1. USB 2.0/USB 3.0
- 188.8.131.52.2. Camera link
- 184.108.40.206.3. GigE
- 220.127.116.11.4. CoaXPress
- 18.104.22.168.5. Others (EMVA-1288, FireWire, GenICam)
- 22.214.171.124. By frame rate
- 126.96.36.199.1. <25 fps
- 188.8.131.52.2. 25-125 fps
- 184.108.40.206.3. More than 125 fps
- 220.127.116.11. By format
- 18.104.22.168.1. Line scan
- 22.214.171.124.2. Area scan
- 126.96.36.199. By sensor type
- 188.8.131.52.1. CMOS
- 184.108.40.206.2. CCD
- 6.2.2. FRAME GRABBERS
- 220.127.116.11. Frame grabbers are mainly used for capturing high-resolution images
- 6.2.3. OPTICS
- 18.104.22.168. There is growing popularity of 360-degree optics and liquid lens in machine vision
- 6.2.4. LED LIGHTING
- 22.214.171.124. LED lighting conditions enhanced the image quality in such a way that some features can get negated, while others get enriched.
- 6.2.5. PROCESSORS
- 126.96.36.199. FPGA
- 188.8.131.52.1. An FPGA consists of an array of programmable logic blocks, which can be configured to design desired logic.
- 184.108.40.206. DSP
- 220.127.116.11.1. DSPs have a specially designed architecture, which helps in fetching multiple data and instructions at the same time
- 18.104.22.168. Microcontrollers and microprocessors
- 22.214.171.124.1. Microcontrollers and microprocessors are specifically designed for real-time applications.
- 126.96.36.199. VPU
- 188.8.131.52.1. VPU is a type of AI accelerator to fulfill the growing need for faster processing in vision-related applications.
- 6.3. SOFTWARE
- 6.3.1. TRADITIONAL SOFTWARE
- 184.108.40.206. Traditional software provides a framework to develop and deploy machine vision applications
- 6.3.2. DEEP LEARNING SOFTWARE
- 220.127.116.11. Deep learning frameworks offer great flexibility to program developers owing to their ability to design and train customized deep neural networks
7. MACHINE VISION MARKET, BY PRODUCT
- 7.1. INTRODUCTION
- 7.2. PC-BASED MACHINE VISION SYSTEMS
- 7.2.1. PC-BASED MACHINE VISION SYSTEMS HAVE THE ABILITY TO COMPENSATE FOR UNEXPECTED VARIATIONS IN CERTAIN TASKS.
- 7.3. SMART CAMERA-BASED VISION SYSTEMS
- 7.3.1. SMART CAMERA PERFORMS MULTIPLE FUNCTIONS WITHOUT MANUAL ASSISTANCE BY UTILIZING A PROCESSOR AND COMPUTATIONAL INTELLIGENCE.
8. MACHINE VISION MARKET, BY APPLICATION
- 8.1. INTRODUCTION
- 8.2. QUALITY ASSURANCE & INSPECTION
- 8.2.1. QUALITY ASSURANCE APPLICATION DOMINATES THE MACHINE VISION MARKET
- 8.3. POSITIONING & GUIDANCE
- 8.3.1. ROBOTS PLAYS AN IMPORTANT ROLE IN POSITIONING AND GUIDANCE SYSTEM IN MACHINE VISION.
- 8.4. MEASUREMENT
- 8.4.1. MACHINE VISION MEASUREMENT TOOLS COMBINED WITH THE RIGHT OPTICS AND STABLE LIGHTING PROVIDE PRECISION REPEATABILITY TO ENSURE MANUFACTURING ACCURACY.
- 8.5. IDENTIFICATION
- 8.5.1. IN IDENTIFICATION, VISION SYSTEMS ARE USED TO READ VARIOUS CODES AND ALPHANUMERIC CHARACTERS, SUCH AS TEXT AND NUMBERS.
- 8.6. PREDICTIVE MAINTENANCE
- 8.6.1. PREDICTIVE MAINTENANCE CAN BE VERY USEFUL WHEN THERE IS MACHINE DOWNTIME.
9. MACHINE VISION MARKET, BY END-USE INDUSTRY
- 9.1. INTRODUCTION
- 9.2. AUTOMOTIVE
- 9.2.1. MACHINE VISION SYSTEMS OFFER HIGH ACCURACY IN CRITICAL ACTIVITIES SUCH AS BIN PICKING AND POSITIONING OF PARTS FOR ASSEMBLY.
- 9.3. ELECTRONICS & SEMICONDUCTOR
- 9.3.1. DEMAND FOR MACHINE VISION SYSTEMS IN THE ELECTRONICS & SEMICONDUCTOR INDUSTRY IS INCREASING BECAUSE OF THE DECLINING PRICES OF ELECTRONIC CHIPS AND THE HIGH PRODUCTION
- 9.4. CONSUMER ELECTRONICS
- 9.4.1. 3D MACHINE VISION SYSTEMS ARE EMERGING AS POWERFUL TECHNOLOGIES FOR ELECTRONICS ASSEMBLY APPLICATIONS.
- 9.5. GLASS
- 9.5.1. MACHINE VISION IMPROVES OPERATIONAL EFFICIENCY, TRACES DEFECTS, REDUCES WASTAGE, AND PROVIDES DETAILED STATISTICAL INFORMATION.
- 9.6. METALS
- 9.6.1. SHORTAGE OF SKILLED LABOUR IN THE MARKET ARE THE TWO MAJOR FACTORS RESPONSIBLE FOR THE INCREASING ADOPTION OF MACHINE VISION IN THE METALS INDUSTRY.
- 9.7. WOOD & PAPER
- 9.7.1. MACHINE VISION SYSTEMS CAN WORK EFFICIENTLY IN DIFFERENT ENVIRONMENTAL CONDITIONS, SUCH AS WOOD DUST, HEAT, SMOKE, WATER, AND CHEMICALS.
- 9.8. PHARMACEUTICALS
- 9.8.1. STRINGENT GOVERNMENT REGULATIONS AND THE INCREASING NEED TO COMBAT COUNTERFEIT PRODUCTS ARE DRIVING THE GROWTH OF THE MACHINE VISION MARKET IN THIS INDUSTRY
- 9.9. FOOD & PACKAGING
- 9.9.1. FOOD
- 18.104.22.168. The machine vision systems are pre-trained with the required algorithms, which help them understand characteristics such as size, stage of growth, and variety.
- 9.9.2. PACKAGING
- 22.214.171.124. Machine vision helps in the inspection of packaging processes and reduction of errors by carrying out multiple inspections at a single time.
- 9.10. RUBBER & PLASTICS
- 9.10.1. THE MACHINE VISION IN RUBBER AND PLASTIC INDUSTRY HELPS IN EXAMINE AND EVALUATE PARTS AND DETERMINE IF THE PARTS ARE GOOD, BAD, OR UNDEFINED.
- 9.11. PRINTING
- 9.11.1. MACHINE VISION ENSURE THAT THE RIGHT PAGES ARE USED IN THE RIGHT ENVELOPES
- 9.12. MACHINERY
- 9.12.1. MACHINE VISION SYSTEMS HELP IN COMPLETING PROCESSES MUCH FASTER AND ALSO HELP IN DETECTING DEFECTS AND VALIDATING QUALITY.
- 9.13. SOLAR PANEL MANUFACTURING
- 9.13.1. INDUSTRIAL MACHINE VISION-BASED INSPECTION IS AN IMPORTANT TOOL FOR INSPECTING THE QUALITY OF SOLAR PANELS.
- 9.14. TEXTILES
- 9.14.1. MACHINE VISION SYSTEMS HELP MANUFACTURERS PRODUCE HIGH-QUALITY TEXTILES WHILE MINIMIZING THE COSTS AND MAXIMIZING THE PROFITS.
10. GEOGRAPHIC ANALYSIS
- 10.1. INTRODUCTION
- 10.2. NORTH AMERICA
- 10.2.1. US
- 10.2.1.1. The US offers an ideal environment for innovation, which has facilitated massive advancements in machine vision technologies and standards.
- 10.2.2. CANADA
- 10.2.2.1. Canada is one of the leading contributors to the development of machine vision technologies.
- 10.2.3. MEXICO
- 10.2.3.1. Mexico is evolving as a major industrial hub in North America.
- 10.3. EUROPE
- 10.3.1. GERMANY
- 10.3.1.1. Increasing demand for robots in the automotive and electronics industries is driving the growth of the market for camera-based machine vision systems in Germany
- 10.3.2. UK
- 10.3.2.1. Manufacturers based in the UK are progressively considering machine vision systems to improve their product quality and minimize waste.
- 10.3.3. FRANCE
- 10.3.3.1. Government support towards smart factory automation is expected to boost machine vision market
- 10.3.4. ITALY
- 10.3.4.1. The market for electric vehicles in Italy is expected to boost the market.
- 10.3.5. SPAIN
- 10.3.5.1. The growth of the machine vision market in Spain is driven by consumer electronics and pharmaceuticals industries.
- 10.3.6. REST OF EUROPE
- 10.3.6.1. The use of smart camera-based machine vision systems is expected to increase in the region during the forecasted period
- 10.4. ASIA PACIFIC (APAC)
- 10.4.1. CHINA
- 10.4.1.1. China is one off the fastest growing market for machine vision
- 10.4.2. JAPAN
- 10.4.2.1. Manufacturers in Japan have been early adopters of machine vision systems
- 10.4.3. SOUTH KOREA
- 10.4.3.1. South Korea is among the leading manufacturers of robots in the world.
- 10.4.4. INDIA
- 10.4.4.1. The manufacturing sector in India is expected to grow further in the near future, which will require automated quality check mechanisms.
- 10.4.5. REST OF APAC
- 10.4.5.1. The use of machine vision systems is growing owing to the continuously increasing number of applications in various industries
- 10.5. REST OF THE WORLD (ROW)
- 10.5.1. SOUTH AMERICA
- 10.5.1.1. South America has significant potential to use machine vision systems.
- 10.5.2. MIDDLE EAST
- 10.5.2.1. The increase in manufacturing activities in Israel, the Middle East is a key growth driver for this market.
- 10.5.3. AFRICA
- 10.5.3.1. Increasing in food & beverage, automotive and pharmaceutical industries is key driver of growth of machine vision market.
11. COMPETITIVE LANDSCAPE
- 11.1. OVERVIEW
- 11.2. KEY PLAYERS IN THE MACHINE VISION MARKET
- 11.3. COMPETITIVE LEADERSHIP MAPPING
- 11.3.1. VISIONARY LEADERS
- 11.3.2. DYNAMIC DIFFERENTIATORS
- 11.3.3. INNOVATORS
- 11.3.4. EMERGING COMPANIES
- 11.4. STRENGTH OF PRODUCT PORTFOLIO (25 COMPANIES)
- 11.5. BUSINESS STRATEGY EXCELLENCE (25 COMPANIES)
- 11.6. COMPETITIVE SCENARIO
- 11.6.1. PRODUCT LAUNCHES AND DEVELOPMENTS
- 11.6.2. PARTNERSHIPS, COLLABORATIONS, AND AGREEMENTS
- 11.6.3. MERGERS & ACQUISITIONS
12. COMPANY PROFILE (Business overview, Products offered, Recent developments, MNM view, SWOT analysis)*
- 12.1. KEY PLAYERS
- 12.1.1. COGNEX
- 12.1.2. BASLER
- 12.1.3. OMRON
- 12.1.4. KEYENCE
- 12.1.5. NATIONAL INSTRUMENTS
- 12.1.6. SONY
- 12.1.7. TELEDYNE TECHNOLOGIES
- 12.1.8. TEXAS INSTRUMENTS
- 12.1.9. INTEL
- 12.1.10. BAUMER OPTRONIC
- 12.1.11. JAI A/S
- 12.1.12. MVTEC SOFTWARE
- 12.1.13. TORDIVEL AS
- 12.1.14. ISRA VISION
- 12.1.15. SICK
- 12.1.16. FLIR SYSTEMS
- 12.2. STARTUP-ECOSYSTEM
- 12.2.1. AMETEK
- 12.2.2. QUALITAS TECHNOLOGIES
- 12.2.3. SUALAB
- 12.2.4. ALGOLUX
- 12.2.5. CLARIFAI
- 12.2.6. CADENCE DESIGN SYSTEMS
- 12.2.7. INUITIVE
*Business overview, Products offered, Recent developments, MNM view, SWOT analysis might not be captured in case of unlisted companies.
- 13.1. DISCUSSION GUIDE
- 13.2. KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 13.3. AVAILABLE CUSTOMIZATIONS
- 13.4. RELATED REPORTS
- 13.5. AUTHOR DETAILS