Machine Vision Systems Market is Projected to Grow at a CAGR of 7.2% Between 2016 and 2025

The global Machine Vision Systems market accounted for US$ 8.12 Bn in 2016 and is expected to grow at a CAGR of 7.2% during the forecast period 2017 – 2025, to account for US$ 15.01 Bn in 2025.

The machine vision systems market has experienced high growth and implementations in the last few years and is also expected to experience significant growth in years to come. One of the major reason for higher implementations of machine vision systems by various industry verticals is the advancements in several related technologies taking place around the machine vision systems and are driving the Machine Vision Systems market. The advances in technology have thus facilitated mass production and custom manufacturing of suppliers. Machine vision systems also provide end users with improved productivity and quality in the manufacturing process which also helps in achieving higher productivity along with increased profit margins. Developing digital ecosystem and high growth of data, and developing economies are providing ample opportunities for the players operating in the global machine vision systems market.

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Leading Vendors :

Basler AG, IDS Imaging Development Systems GmbH, Microscan Systems, Inc., Teledyne DALSA Inc., Datalogic S.p.A, ISRA VISION AG, OmniVision Technologies, Inc., KEYENCE CORPORATION, COGNEX CORPORATION, FLIR Systems

Machine Vision Systems Market Insights

Rapid Expansion in the Manufacturing Industry is fuelling Machine Vision Systems market

The expansion in the manufacturing industry is further highly driven by economic growth worldwide. Also, the industry is presently found to be in the middle of a technological renaissance, which is changing the outlook, systems, and processes of the modern factory. This technological revolution in the factories has been encouraging the manufacturing industries to further invest in these emerging technologies in order to enhance their productivity and production cycle. Thus, the rapid expansion in the manufacturing industry is expected to drive the demand for advanced and smart machine vision system market globally. According to the United Nations Industrial Development Organization (UNIDO), global manufacturing value added (MVA) reached an all-time high of $9,228 billion in 2014. By 2014, the MVA of developing and emerging industrial economies (DEIEs) increased 2.4 times from 2000, while their GDP doubled. Also, world export growth rates averaged 7.7% over 2005–2013, and in 2013 world trade reached a peak of more than $18 trillion, with 84.0% comprising manufacturing products.

Extensive Demand for High-Quality Product Inspection is creating a huge opportunity for Machine Vision Systems market players

With an increasing number of industrial verticals embracing production automation, the demand for machine vision technology is likely to be on the rise and are significantly contributing to global machine vision systems market. In order to achieve high precision advanced technology, such as machine vision is adopted by the Industrial companies. The machine vision system helps in the detection of defects which are difficult to visualize and inspect by human eyes. The inspection of machine vision includes surface defects, assembly errors, missing features, and damaged parts. It also aligns the parts for highly accurate assembly operations and all the other manufacturing process. Industrial automation companies use machine vision systems to check critical dimensions, measure product components for the classification process and sorting process. Machine vision system has become an integral part of Industrial automation manufacturing to achieve higher precision and quality assurance.

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By Type

  • Smart Machine Vision Systems
  • PC-Based Smart Machine Vision Systems
  • 3D Machine Vision Systems

By Components

  • Cameras
  • Frame Grabbers
  • Processors
  • Illuminations & Optics
  • Vision Software
  • Others

By End-User

  • Automotive
  • Consumer Electronics
  • Food and Beverage
  • Pharmaceuticals
  • Logistics
  • Others

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • U.K
  • Asia Pacific (APAC)
    • Australia
    • China
    • India
    • Japan
  • Middle East & Africa (MEA)
    • South Africa
    • Saudi Arabia
    • UAE
  • South America (SAM)
    • Brazil

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What does this report contains? Why to Purchase? Have a Look

Highlights key business priorities in order to assist companies to realign their business strategies.

Highlights key machine vision systems thereby allowing organizations to gain revenues by focusing majorly on select products.

The key findings and recommendations highlight crucial progressive industry trends in the machine vision systems market, thereby allowing players across the value chain to develop effective long term strategies.

Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

Examine the current and future impact of the five forces namely: bargaining power of suppliers, bargaining power of buyers, threat of substitutes, threat of new entrants and degree of competition.

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Posted by on Monday December 09 2019, 2:04 AM EDT. All trademarks acknowledged. Filed under Technology, Media, & Telecommunications. Comments and Trackbacks closed. Follow responses: RSS 2.0

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