Machine Vision Market is Expected to Exceeds USD 15.46 Billion by 2022 with 8.18% of CAGR

Machine Vision Market, By Type (1D Machine, 2D Machine Vision, 3D Machine Vision), By Application (Inspection, Gauging, Guidance, Identification), By Components (Hardware, Software), By End Users

Market Highlights
In this competitive world quality plays a vital role. Maintaining the quality and the relationships with customers is an important element that enhances the growth. For ensuring that level of quality, mainly in a long-run, is a difficult task. Moreover, the rules and regulations have become stricter due to which the quality inspection has become a very important aspect for every manufacturer. Recently customers have become more knowledgeable therefore they have quality as their priority. For quality inspections mistakes may lead to loss or even cause a break of any rules or regulation. Thus, to avoid mistakes, have a proper defect detection along with tolerance monitoring machine vision systems are widely adopted. Some machine vision systems also provide component measurement and some also provide feedback data to the customer about their product quality and process capability.

The global Machine Vision Market is expected to reach USD 15.46 billion by the end of 2022 with 8.18% CAGR during forecast period 2017-2022.

Machine Vision Market Players:
• Cognex Corporation (U.S.)
• Vitronic GmbH (Germany)
• Perceptron, Inc. (U.S.)
• Microscan Systems (U.S.)
• Basler AG (Germany.)
• National Instruments (U.S.)
• Optotune AG (Switzerland)
• USS Vision (U.S.)
• ViDi Systems SA (Switzerland)
• Keyence (Japan)
• Omron Corporation (Japan)

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Global Machine Vision market is expected to show rapid growth in the coming years especially from the automotive industry. On the basis of Type, the global market has been segmented on the basis of 1D, 2D and 3D machine vision. Growing industrialization and high investment on the quality and inspection of in the industry is leading to high demand for the machine vision systems. On the basis of Type, 2D Machine vision is dominating the market and holds the largest market share. growing industries such as Automotive, Healthcare and Automotive are the major driver for the growth of 2D machine vision systems whereas advancement and automation in the manufacturing is pushing the market of 3D machine vision.

Market Research Future Analysis
There are various industries which uses machine vision for the various application but it is largely dominated by automotive sector and electronics and semiconductor industry. complex product and need of high level of accuracy in the products needs to be addressed very efficiently and machine vision has proven to be more efficient than human eyes. Automotive is dominating the market of Machine Vision, By End User with market share of 29.24%, in the year 2016.

Regional Analysis
North America holds 23.06% of global market of machine vision. Presence of global players and developed nations such as U.S. and Canada gives North America a competitive advantage over other countries. Also factors such as leader in technology development and high investment in the R&D for the development of efficient manufacturing process is driving the market of machine vision in North America.

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Intended Audience
- Data Centers
- Manufacturing Companies
- Software Developers
- Energy Generation Companies
- Technology Providers
- Distributors
- Research firms
- Consultancy firms
- Semiconductor Manufacturers
- Stakeholders
- End-user sectors
- Technology Investors

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Release ID: 218138