Global Machine Vision Market By Type (1D Vision, 2D Vision, and 3D Vision), By System (PC Based, Smart Camera Based, and Others), By End-Use, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Sep 2023
- Report ID: 66513
- Number of Pages: 379
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Report Overview
The Global Machine Vision Market size is expected to be worth around USD 29.40 Billion by 2032 from USD 14.4 Billion in 2022, growing at a CAGR of 7.60% during the forecast period from 2023 to 2032.
Machine vision technology replaces human vision and judgment with digital cameras and image processing to complement manual inspection and measurement. Various industries are integrating this technology to automate production and improve product quality and speed.
Vision systems automatically capture and analyze images to provide the necessary information to control machines and processes. It is the automatic extraction of information from digital images for process or quality control.
Most manufacturers are using automated machine vision to replace human inspectors. This is because it is better matched for monotonous inspection tasks. It works faster more objectively and continuously. Machine vision can inspect thousands of parts per minute resulting in more consistent and reliable inspection results.
Key Takeaways
The growth of industrial automation: Machine vision is growing rapidly due to the growing use of automation in industrial processes across different sectors. The machine vision system is crucial to perform tasks like inspection, quality control, or process optimization in production as well as other industries.
Improvements with Artificial Intelligence: Machine vision systems are becoming increasingly advanced with the addition of AI (AI) as well as deep-learning algorithms. This enables improved object recognition defect identification and decision-making abilities, which increase the range and accuracy of these devices.
Quality Assurance and Defect Detection: Machine vision is a crucial element in ensuring the quality of products and safety. It is able to quickly identify any defects, gauge the dimensions of the product, and verify conformance to industry standards, eliminating the requirement for manual inspection and increasing the overall quality of the product.
Market Expansion to new sectors: While traditionally associated with manufacturing machine vision, the market expands into new areas like agriculture, healthcare as well and autonomous vehicles. These applications make use of the technology for tasks such as crop monitoring, medical imaging, and object recognition in autonomous cars.
Global Adoption: Computer vision systems are getting adopted on a worldwide scale, and are gaining popularity in emerging markets. The need for these technologies is fueled by the need to improve quality control, higher efficiency in operation, and the ability to compete in a constantly evolving technological environment.
Driving Factors
Increasing Use in Automotive and Manufacturing Industries
Machine vision is anticipated to grow over the next few years due to the rising need for quality checkups and automation. Manufacturing companies benefit from quality control by ensuring product quality, Due to the growing need for quality inspection, spotting production problems early, and automation, machine vision is expected to grow over the next few years.
Manufacturing companies benefit from quality control by detecting production problems early, ensuring product quality, and saving time. Machine vision systems analyze images of products based on quality and safety features.
Increasing Demand in Vision-Enabled Robotics Systems to Boost Market Growth
Recently, the machine vision market has seen a significant shift in automation and robotic systems. Robotics and intelligent manufacturing make machine vision an essential tool for industrial automation.
Likewise, there has been significant growth in the use of industrial robots in the automotive and consumer electronics industries. This has resulted in increased requirements for MV systems integrated with vision-driven robotics controllers. This vision system has increased the efficiency of the robots by allowing them to see and react.
Also, a vision-enabled feature of the machine vision system has applications in pharmaceutical industries. It captures the whole process and records all data for creative inspection.
Restraining Factors
Lack of Skilled Professionals and High Maintenance Cost
The lack of professionals may negatively impact this market growth. In addition, it is often difficult to test multiple products on the same smart camera.
Therefore, there is a need for qualified workers. Expertise and equipment-specific knowledge are required to implement the MV system. However, this limitation is expected to restrain market growth in the forecast period.
Also, machine vision system requires careful attention and daily maintenance. The high maintenance cost of machine vision systems is also expected to restrain the market growth. However, the surging risk of cyber-attacks on industrial machine robots and devices is a major factor restraining market revenue growth.
Trending Factors
New Innovations and the Competitive Landscape of Manufacturers
Manufacturers are now more inclined towards new innovations and competitive pricing. This involves engaging in long-term contracts with manufacturers. Some independent manufacturers hire third-party suppliers to sell their products.
Machine vision manufacturers are increasingly focused on product innovation and differentiation as they are steadily moving toward consolidation through mergers & acquisitions, joint ventures, and collaborative partnerships. Such trends are currently being witnessed in this market, thereby bolstering the demand for these products in the process.
Growth Opportunities
Advancements in Industry 4.0 and Growing Healthcare and Automotive Industries
The machine vision market is also boosted due to growing healthcare industries and automotive industries in several emerging economies such as Brazil, India, South Africa, and China. The rapidly increasing geriatric population, rising per capita incomes, high patient volumes, and increasing need for quality checks of products are driving the need for enhancing the healthcare industries in these nations.
Therefore, the governments in these economies are increasing their investments aimed at improving healthcare facilities & infrastructure. Owing to the high number of applications of machine vision in the automotive and healthcare industries the rising investment in this industry is slated to offer growth opportunities in the market. Also, Advancements in Industry 4.0 are also expanding opportunities across the manufacturing sector.
Type Analysis
The 2D Vision Segment is Dominant
On the basis type, the market for machine vision is classified into 1D vision, 2D vision, and 3D vision. The 2D vision systems segment is expected to dominate the machine vision market share expected period. This is because a machine vision system is used in digital cameras to take pictures of an object.
2D machine vision systems, 2D maps with coordinates (X, Y), and light reflection images are acquired 2D vision market. Traditionally, these 2D systems have been used to orient labels, verify prints, and read barcodes.
3D machine vision system typically includes multiple camera systems. This allows you to get the true and accurate orientation of your product and its dimensions for smooth operation. Therefore, strong growth in this segment is expected in the coming years. These systems contain multiple cameras fixed at various locations for the objective positioning of products in 3D space.
Additionally, 1D machine vision systems typically classify defects in products manufactured such as paper, metal, plastic, cycled or continuous processes, and other sheet or roll goods.
System Analysis
PC Based Machine Vision System is Dominant
This market is segmented into PC-based, smart camera-based, and others on the basis of the system. PC-based machine vision systems were the most prominent segment in the machine vision market. PC-based machine vision system consists of a PC with an operating system.
A software package on the PC is then used to analyze the images, make decisions, and transmit data such as pass/fail information to another system. The various products include hardware, software, and services used in common vision systems and robotic cells.
PC-based machine vision systems are used in quality positioning & guidance, measurement, automotive, pharmaceutical & chemical, electronic & semiconductor, identification & preventive maintenance, pulp & paper, printing & labeling, assurance & inspection, food & beverage, postal & logistics, and more.
The machine vision system is also known as the vision system which consists of different cameras. This camera is fixed in the assembly line for detecting and scanning products. These cameras are also used to capture data.
End-Use Analysis
The Automotive Segment is the Dominant
By end-use, this market is classified into semiconductor, healthcare, automotive, manufacturing, and others. The automotive segment is the leading end-use segment of the machine vision market globally. This segment is anticipated to experience strong growth during the forecast period.
MV systems installed in the automotive sector are often used for presence inspection, error inspection, existence inspection, testing purposes, final inspection, etc. In addition, these MV systems are also installed in the automotive sector for robot guidance, test automation, and dimensional measurements.
Machine vision systems look for cracks and defects and inspect the edges of PV cells for cracks and chips in semiconductor industries. Machine Vision is also used to arrange PV cells into aluminum frames to form modules and assemble them into panels.
The food and beverage industry is poised to show the highest CAGR during the forecast period. MV systems in manufacturing are primarily used in packaging and bottling plants. Healthcare and other sectors such as retail, banking, food and beverage, agriculture, solar panels, security and surveillance, rubber, and plastic processing are also expected to grow at a significant CAGR in the coming years.
Machine Vision Market Key Segments:
Based on Type
- 1D Vision
- 2D Vision
- 3D Vision
Based on System
- PC Based
- Smart Camera Based
- Others
Based on End-Use
- Semiconductor
- Healthcare
- Automotive
- Manufacturing
- Others
COVID-19 Impact Analysis
Closure of Manufacturing Industries Halted Market Growth.
The economic impact of the COVID-19 pandemic is largely disruptive around the world. Companies in the semiconductor industry face temporary closures of manufacturing plants, leading to lower revenues for the 2020-2021 fiscal year. COVID-19 has adversely impacted the entire global vision systems market due to the closure of manufacturing and production units around the world.
In addition, the production and adoption of these systems have also been halted. Additionally, due to disruptions in the raw material supply chain, especially in Asia-Pacific, the machine vision systems market has seen revenue decline, mainly due to less adoption. in different industries. The manufacturing industry which is one of the main users of machine vision systems has also affected, hence machine vision systems market revenue was decreased during COVID-19.
Regional Analysis
Asia Pacific Region is Dominant in the Machine Vision Market
Asia Pacific Region holds the largest share of the market 41.6% in 2022. This region is likely to grow at a robust rate in the forecast period. In the Asia Pacific region, there is a large number of manufacturing industries.
This creates lucrative growth opportunities in the automotive, pharmaceutical, and semiconductor industries. In North America, the technological advancements facilities and the technological adoption rate are greater. Therefore, the market for machine vision is anticipated to grow.
On the other hand, Europe will experience significant growth in the coming years. Market vision systems are built on cutting-edge advancements in technology and automation. In addition, the need for quality inspection and automation inside production facilities is expected to be the key aspect driving the growth of this market in the region.
The Middle East and African market is growing at a slower rate due to the economic slowdown. The sector is gradually shifting from the oil and gas sector to other service and manufacturing sectors. Therefore, there is an opportunity to increase investment in the manufacturing and processing industries in the region, thereby increasing the demand for machine vision systems.
Key Regions and Countries Covered in this Report:
- North America
- The US
- Canada
- Mexico
- Western Europe
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Analysis:
Emerging key players are focused on a variety of strategic policies to develop their respective businesses in foreign markets. Several bio-based surface disinfectant market companies are concentrating on expanding their existing operations and R&D facilities.
Furthermore, businesses in this market are developing new products and portfolio expansion strategies through investments mergers, and acquisitions. In addition, several key players are now focusing on different marketing strategies such as spreading awareness about natural ingredients, which is boosting the target products’ growth.
Market Key Players:
Listed below are some of the most prominent Machine Vision industry players.
- 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
- ISRA Vision
- Sick AG
- FLIR Systems
- Optotune AG
- USS Vision
- ViDi Systems SA
- Bosch Rexroth
- Euclid Labs
- Intel Corporation
- Sony Corporation
- Other Key Players
Recent Developments:
- In August 2021, OMRON Corporation launched the new “VT-S10 Series” PCB examination system, which uses artificial intelligence to automate the high-precision inspection process.
- In May 2022, PIXM launched a new computer vision solution. PIXM uses computer vision yech to identify phishing attacks on mobiles.
- On 23 September 2021, TKh Group launched the TKH vision umbrella which contains vision technology Companies like Allied Vision, and LMI Technologies.
Report Scope:
Report Features Description Market Value (2022) US$ 14.4 Bn Forecast Revenue (2032) US$ 29.4 Bn CAGR (2023-2032) 7.6% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Type- 1D Vision, 2D Vision, and 3D Vision; By System- PC Based, Smart Camera Based, and Others; By End-Use- Semiconductor, Healthcare, Automotive, Manufacturing, and Others. Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; the Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA Competitive Landscape 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, ISRA Vision Sick AG, FLIR Systems, Optotune AG
USS Vision, ViDi Systems SA, Bosch Rexroth, Euclid Labs, and Other Key Players
Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the Machine Vision Market size in 2022?The Machine Vision Market size is USD 14.4 billion for 2022.
What is the CAGR for the Machine Vision Market?The Machine Vision Market expected to grow at a CAGR of 7.6% during 2023-2032.
What are the segments covered in the Machine Vision Market report?Market.US has segmented the Global Machine Vision Market Value (US$ Bn) Analysis by Region, 2022 market by geographic (North America, Europe, APAC, South America, and Middle East and Africa).Based on Type, market is segmented into 1D Vision, 2D Vision, 3D Vision. Based on System market is segmented into, PC Based, Smart Camera Based, Others. Based on End-Use market is segmented into Semiconductor, Healthcare, Automotive, Manufacturing, Others.
Who are the key players in the Machine Vision Market?Allied Vision Technologies GmbH, Basler AG, Cognex Corporation, Keyence Corporation, LMI Technologies Inc., Microscan Systems, Inc., National Instruments Corporation, OMRON Corporation, Sick AG, Other Key Players Other key players are the key vendors in the Machine Vision Market.
- 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
- ISRA Vision
- FLIR Systems
- Optotune AG
- USS Vision
- ViDi Systems SA
- Bosch Rexroth
- Euclid Labs
- Intel Corporation
- Sony Corporation
- Other Key Players
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