(MENAFN- IMARC Group) According to the latest report by IMARC Group, titled
“Machine Vision Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,”
the global machine vision market size reached US$ 13.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 25.4 Billion by 2032, exhibiting a growth rate (CAGR) of 7.3% during 2024-2032.
Machine vision refers to the technology and methods used to provide imaging-based automatic inspection, process control, and robot guidance in industrial applications. This technology encompasses several components, including hardware (cameras, image sensors) and software (image processing algorithms), to automate complex or mundane visual inspection tasks. Types of machine vision systems include 2D and 3D vision systems, with applications ranging from flaw detection to guidance of autonomous robots. Advantages of machine vision include enhanced precision and efficiency, decreased operational costs, and the ability to work in hazardous or challenging environments without fatigue. The adaptability and scalability of machine vision systems make them indispensable in modern manufacturing, ensuring quality control, increasing productivity, and supporting the automation of industrial processes.
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Top Companies In Global Machine Vision Market:
Cognex Corporation Basler AG Omron Corporation National Instruments Corporation Keyence Corporation Sony Corporation Teledyne Technologies, Inc. Texas Instruments, Inc Allied Vision Technologies GmbH Intel Corporation Baumer Optronic GmbH Jai A/S.
Machine Vision
Market Trends:
The global market is witnessing substantial growth, driven by the increasing demand for automation and quality assurance across various industry sectors. Manufacturing industries, in particular, are rapidly adopting machine vision systems to enhance productivity, accuracy, and safety. Along with this, the increasing integration of artificial intelligence (AI) and machine learning (ML) algorithms into machine vision systems is further augmenting their capabilities, enabling more sophisticated analysis and decision-making based on visual data. This trend is facilitating the development of smart factories and Industry 4.0 initiatives, where machine vision plays a critical role in enabling autonomous operations.
Additionally, the expansion of machine vision into non-traditional sectors such as agriculture for crop monitoring and healthcare for diagnostic imaging illustrates its versatility and broadening market appeal. Apart from this, advancements in imaging sensors, higher computing power at lower costs, and the growing emphasis on consumer safety and regulatory compliance are creating a positive market outlook.
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Key Market Segmentation:
Breakup by Product:
Vision Systems Cameras Others
Breakup by Component:
Breakup by Application:
Positioning Identification Verification Measurement Flaw Detection Others
Breakup by Industry:
Electronics and Semiconductor Automotive Medical and Pharmaceutical Food, Packaging and Printing Security and Surveillance Intelligent Traffic System Others
Breakup by Region:
North America (United States, Canada) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Who we are:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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