Global Machine Vision market is expected to show rapid growth in the coming years especially from the automotive industry. The global market has been segmented on the basis of type that is 1D, 2D and 3D machine vision. 2D Machine vision is dominating the market and holds the largest market share.
The global machine Vision market is a very dynamic market and is expected to witness stable growth over the forecast period. The factor driving the market growth are increasing miniaturization of products, need for quality inspection, increasing standardization and others. Growing industrialization and high investment on the quality and inspection of in the industry is leading to high demand for the machine vision systems
The global machine vision market is estimated to grow from USD 9,454.5 million in 2016 to USD 15,460 million by 2022, growing at a CAGR of 8.18 % from 2016 to 2022.
Objective Study of Machine Vision Market:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Machine Vision market.
- To provide insights about factors affecting the market growth.
- To analyze the global Machine Vision market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW).
- To provide country level analysis of the market with respect to the current market size and future prospective.
- To provide country level analysis of the market for segment by type, end-users and region.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Machine Vision market.
For the purpose of this study, market research future has segmented the market of machine vision into type, application, component, end-users and region.
- Electronics & Semiconductor
- Food & Packaging
The key players in the global Machine Vision market include- 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) among others.
North America is the leading economy in machine Vision market followed by Europe. However, Asia-Pacific is the fastest growing economy in the market majorly due to growing pharmaceutical Industry. Also, rest of the world has a slow economic growth.
In 2016, North America is estimated to generate the largest revenue of USD 1,161,72 million followed by Europe with USD 951.62 million generated in 2016. This trend is projected to change by 2022, where Asia-pacific would raise its revenue to USD 569.58 million from USD 424.94 million in year 2016. Asia-Pacific is predicted to show a high revenue growth at a CAGR of 5.00% from 2016 to 2022. Rest of the world is expected to grow with slow growth rate of 3.74% during forecast period 2016 to 2022.
- Global Machine Vision market has reached USD 9,454.5 million in 2016 and is projected to exhibit USD 15,460.0 million by the end of 2022 with a growing CAGR of 8.18%.
- By type segment, the 3D machine vision segment among all is growing with a highest revenue value of USD 2956.3 million in 2016 and it is estimated to reach USD 5,733.9 million by the end of 2022 and the segment is estimated to grow with CAGR of 11.23%.
- By application segment, the inspection segment among all is growing with a highest revenue value of USD 3,821.2 million in 2016 and it is estimated to reach USD 6,614.6 million by the end of 2022 and the segment is estimated to grow with CAGR of 9.21%.
- By component segment, the software segment among all is growing with a highest revenue value of USD 1,169.6 million in 2016 and it is estimated to reach USD 2,326.4 million by the end of 2022 and the segment is estimated to grow with CAGR of 11.69%.
- By end- users segment, the electronics & semiconductor segment among all is growing with a highest revenue value of USD 2,355.8 million in 2016 and it is estimated to reach USD 4,214.6 million by the end of 2022 and the segment is estimated to grow with CAGR of 9.83%.
- By region, in 2016, Asia Pacific is estimated to generate the largest revenue of USD 3,454.8 million and expected to reach USD 6,154.3 million by 2022, with 9.73% CAGR followed by North America. Europe is growing with a CAGR of 7.26% thereby would increase its revenue from USD 2,885.4 million to USD 4,482.4 million by 2022