Global Machine Vision Market Overview
According to SPER Market Research, the Global Machine Vision Market is estimated to reach USD 26.92 billion by 2033 with a CAGR of 7.62%.
Machine vision systems provide numerous benefits that contribute to improved organizational efficiency, including rapid response times, customized capabilities, precise data, and reduced redundancies. These advantages make machine vision a vital automated tool in various industries, fulfilling tasks such as quality assurance, inspection, positioning, guidance, identification, measurement, and predictive maintenance. The growing requirement for industrial automation across sectors like food and packaging, consumer electronics, electronics, and semiconductors act as a driving force behind the expansion of the machine vision industry.
Exploring the Growth Drivers of the Global Machine Vision Industry.
The expanding need for quality control and automation across a variety of industries is what is driving the global machine vision market. Industries such as automotive, food and beverage, pharmaceutical and chemical, and packaging are particularly in need of vision-guided robotic systems, leading to further market growth. There is also a rising demand for machine vision systems that are designed for specific applications, which is contributing to the adoption of this technology. Machine vision systems involve the use of computers, video cameras, digital signal processing, and analog-to-digital conversion to observe, inspect, and analyze work performance. The data captured by the system is then transferred to the computer for analysis and output generation. Resolution and sensitivity are crucial factors in machine vision systems, as resolution determines the system's ability to differentiate between objects, while sensitivity enables the detection of objects or weak signals even in low-light conditions or wavelengths that are not visible to the human eye.
What challenges does the Global Machine Vision Market face?
Machine vision systems play a vital role in enhancing manufacturing processes by enabling faster and more accurate deliveries. However, the implementation of such systems requires substantial financial investments for operator education and training, which are crucial for expanding the technology into new markets. Although inspecting a large number of items with a single smart camera can be challenging, machine vision systems make it feasible. The implementation of machine vision systems demands specialized equipment and expertise. However, ongoing research and development efforts by key industry players, along with the increasing adoption of machine vision systems across various sectors, are expected to overcome this limitation in the projected period.
In what ways has the COVID-19 pandemic affected Global Machine Vision Market?
The global machine vision market has been significantly affected by the disruptive economic impact of the COVID-19 pandemic. Many companies operating in this industry have had to temporarily shut down their production sites, leading to a decline in revenues for the financial year 2020–2021. The machine vision system market has also been adversely impacted worldwide as a result of the pandemic, with manufacturing and production units experiencing shutdowns globally. Furthermore, the production and adoption of machine vision systems have been halted, and the disruption in the supply chain of raw materials, particularly in the Asia-Pacific region, has contributed to a decline in the revenue of the machine vision system market. This decline can primarily be attributed to a decrease in the adoption of machine vision systems across various industries, including the manufacturing industry, which is a major user of such systems.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Offering, By Product, By Application, By End User
|
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
|
| Companies Covered | Allied Vision Technologies GmbH, Basler AG, Cognex Corporation, Keyence Corporation, LMI Technologies Inc., Microscan Systems Inc., National Instruments Corporation., OMRON Corporation, Sick AG, Tordivel AS, Others
|
Key Target Audience:
- Manufacturing companies across various industries (automotive, electronics, pharmaceuticals, food and beverage, etc.)
- Quality control and inspection departments within manufacturing companies
- Machine vision system integrators and solution providers
- Industrial automation companies
- Original equipment manufacturers (OEMs) of machine vision systems
- Software developers and providers specializing in machine vision technology
- Industrial engineers and process optimization professionals
Global Machine Vision Market Segmentation:
1. By Offering:
- Global Machine Vision Market Value Share and Forecast, By Offering, 2023-2033
- Hardware
- Software
- Services
2. By Product:
- Global Machine Vision Market Value Share and Forecast, By Product, 2023-2033
- PC Based
- Smart Camera Based
3. By Application:
- Global Machine Vision Market Value Share and Forecast, By Application, 2023-2033
- Quality Assurance and Inspection
- Positioning and Guidance
- Measurement
- Identification
4. By End User:
- Global Machine Vision Market Value Share and Forecast, By End User, 2023-2033
- Automotive
- Pharmaceuticals & Chemicals
- Electronics & Semiconductor
- Pulp & Paper
- Printing & Labelling
- Food & Beverage (Packaging and Bottling)
- Glass & Metal
- Postal & Logistics
- Others (Agri
5. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global Machine Vision Market Size (FY’2023-FY’2033)
- Overview of Global Machine Vision Market
- Segmentation of Global Video Editing Platform Market By Offering (Hardware, Software, Services)
- Segmentation of Global Video Editing Software Market By Product (PC Based, Smart Camera Based)
- Segmentation of Global Machine Vision Market By Application (Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification)
- Segmentation of Global Online Video Platform Market By End User {Automotive, Pharmaceuticals & Chemicals, Electronics & Semiconductor, Pulp & Paper, Printing & Labelling, Food & Beverage (Packaging and Bottling), Glass & Metal, Postal & Logistics, Others (Agriculture, Security & Surveillance, Rubber, Plastics, Solar Panelling, Machinery, and Others)}
- Statistical Snap of Global Machine Vision Market
- Growth Analysis of Global Machine Vision Market
- Problems and Challenges in Global Machine Vision Market
- Competitive Landscape in the Global Machine Vision Market
- Impact of COVID-19 and Demonetization on Global Machine Vision Market
- Details on Recent Investment in Global Machine Vision Market
- Competitive Analysis of Global Machine Vision Market
- Key Players in the Global Machine Vision Market
- SWOT Analysis of Global Machine Vision Market
- Global Machine Vision Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Machine Vision Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Machine Vision Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Machine Vision Market
7. Global Machine Vision Market, By Offering (USD Million)
7.1. Global Machine Vision Market Value Share and Forecast, By Offering, 2023-2033
7.2. Hardware
7.2.1. Camera
7.2.2. Frame Grabber
7.2.3. Optics/Lenses
7.2.4. LED Lighting
7.2.5. Processor
7.3. Software
7.3.1. Barcode Reading
7.3.2. Standard Algorithm
7.3.3. Deep Learning Software
7.4. Services
7.4.1. Integration
7.4.2. Solution Management
8. Global Machine Vision Market, By Product (USD Million)
8.1. Global Machine Vision Market Value Share and Forecast, By Product, 2023-2033
8.2. PC Based
8.3. Smart Camera Based
9. Global Machine Vision Market, By Application (USD Million)
9.1. Global Machine Vision Market Value Share and Forecast, By Application, 2023-2033
9.2. Quality Assurance and Inspection
9.3. Positioning and Guidance
9.4. Measurement
9.5. Identification
10. Global Machine Vision Market, By End User (USD Million)
10.1. Global Machine Vision Market Value Share and Forecast, By End User, 2023-2033
10.2. Automotive
10.3. Pharmaceuticals & Chemicals
10.4. Electronics & Semiconductor
10.5. Pulp & Paper
10.6. Printing & Labelling
10.7. Food & Beverage (Packaging and Bottling)
10.8. Glass & Metal
10.9. Postal & Logistics
10.10. Others (Agriculture, Security & Surveillance, Rubber, Plastics, Solar Panelling, Machinery, and Others)
11. Global Machine Vision Market Forecast, 2019-2033 (USD Million)
11.1. Global Machine Vision Market Size and Market Share
12. Global Machine Vision Market, By Offering, 2019-2033 (USD Million)
12.1. Global Machine Vision Market Size and Market Share By Offering (2019-2026)
12.2. Global Machine Vision Market Size and Market Share By Offering (2027-2033)
13. Global Machine Vision Market, By Product, 2019-2033 (USD Million)
13.1. Global Machine Vision Market Size and Market Share By Product (2019-2026)
13.2. Global Machine Vision Market Size and Market Share By Product (2027-2033)
14. Global Machine Vision Market, By Application, 2019-2033 (USD Million)
14.1. Global Machine Vision Market Size and Market Share By Application (2019-2026)
14.2. Global Machine Vision Market Size and Market Share By Application (2027-2033)
15. Global Machine Vision Market, By End User, 2019-2033 (USD Million)
15.1. Global Machine Vision Market Size and Market Share By End User (2019-2026)
15.2. Global Machine Vision Market Size and Market Share By End User (2027-2033)
16. Global Machine Vision Market, By Region, 2019-2033 (USD Million)
16.1. Global Machine Vision Market Size and Market Share By Region (2019-2026)
16.2. Global Machine Vision Market Size and Market Share By Region (2027-2033)
16.3. Asia-Pacific
16.3.1. Australia
16.3.2. China
16.3.3. India
16.3.4. Japan
16.3.5. South Korea
16.3.6. Rest of Asia-Pacific
16.4. Europe
16.4.1. France
16.4.2. Germany
16.4.3. Italy
16.4.4. Spain
16.4.5. United Kingdom
16.4.6. Rest of Europe
16.5. Middle East and Africa
16.5.1. Kingdom of Saudi Arabia
16.5.2. United Arab Emirates
16.5.3. Rest of Middle East & Africa
16.6. North America
16.6.1. Canada
16.6.2. Mexico
16.6.3. United States
16.7. Latin America
16.7.1. Argentina
16.7.2. Brazil
16.7.3. Rest of Latin America
17. Company Profile
17.1. Allied Vision Technologies GmbH
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Basler AG
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Cognex Corporation
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. Keyence Corporation
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. LMI Technologies Inc.
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. Microscan Systems Inc
17.6.1. Company details
17.6.2. Financial outlook
17.6.3. Product summary
17.6.4. Recent developments
17.7. National Instruments Corporation
17.7.1. Company details
17.7.2. Financial outlook
17.7.3. Product summary
17.7.4. Recent developments
17.8. OMRON Corporation
17.8.1. Company details
17.8.2. Financial outlook
17.8.3. Product summary
17.8.4. Recent developments
17.9. Sick AG
17.9.1. Company details
17.9.2. Financial outlook
17.9.3. Product summary
17.9.4. Recent developments
17.10. Tordivel AS
17.10.1. Company details
17.10.2. Financial outlook
17.10.3. Product summary
17.10.4. Recent developments
17.11. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope