20th November 2019 – The global Machine
Vision Market size is expected to value at USD 19.22 billion by 2025.
The machine vision industry is subject to witness a substantial growth due to
the growing demand for quality inspection and automation across various
industrial segment. Furthermore, increasing demand for the vision-guided
robotic systems across automobile, electronic, packaging, food & beverage,
pharmaceutical, chemical industries is anticipated to boost the market growth
over the forecast period. Globally, the machine vision market is predicted to
grow at CAGR of 8.5% in the forecast period, providing numerous opportunities
for market players to invest in research and development in the machine vision
industry.
Rising popularity of
application-oriented machine vision systems in automotive sector is expected to
foster market demand for machine vision systems in upcoming years. Machine
vision system is capable of understanding, inspecting, and responding with the
help of multiple video cameras that are employed on the site. Machine vision
uses digital signal processing and analog to digital conversion to achieve
desired output. The captured data is sent to the main processing unit that
coverts raw information into the desired output. Resolution and sensitivity is
considered vital that is responsible for precise results. Higher resolution
helps in identifying two distinctive objects, while superior sensitivity allows
a machine to detect an object or a weak signal.
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Machine vision are extremely influential
in managing work environments. Machine vision contains features like process
control, automated guidance system, and automated inspection that are vital in
number of industrial applications. Increasing complexities involved with
production activities on day-to-day basis, leading to human errors and
fallibility to identify, monitor, and inspect faults during various
manufacturing activities.
The recent technological advancement and
development in the machine vision is estimated to amplify its demand in various
industrial operations in years to come. Machine vision systems are increasingly
substituting manual inspection and measurement techniques, thus providing a
required efficiency and reliability during inspection and measurement
processes. Machine vision systems constitutes intelligent cameras and image
processing to carry out automated inspection and implement process control.
Robust growth in automotive industry in
both developed and developing economies are enlarging the market demand for
machine vision systems in near future. Additionally, increasing focus towards
developments of advanced quality control techniques attributed to increasing
demand from consumers and manufacturers are driving the market growth, in
recent years. Rise in the laws and regulation by regional governments directed
towards prescribed standards are expected to boost the market growth.
Increasing application of machine vision
systems in food & beverages industry, packaging, and pharmaceutical sector
are some of the key factors positively affecting market growth over the
forecast period. Growing popularity of machine vision systems in food &
beverages industry and packaging sector is credited to enhanced detection of
objects, better analysis, monitoring tolerance, and precision during component
measurement.
Machine vision systems are capable of
performing both industrial and non-industrial applications with a mixture of
hardware and software techniques thus offering functional guidance to devices
for the execution of their functions such as the capture and processing of
digital data and images. Machine vision systems encompasses cost-effective
salutations with high-degree of precision, improved robustness, high
reliability, and high mechanical, and temperature stability.
The machine vision market is divided by
region such as North America, Europe, Asia-Pacific, Latin America and Africa.
North America has shown major growth in recent years owing to the rise in the
adoption of latest technologies and existence of global manufacturing hub.
Asia-Pacific region is predicted to hold major market share in the machine
vision industry with massive growth in forecast period.
Countries such as South Korea, India,
Taiwan, and Singapore are leading the Asia-Pacific market with increasing
research & development activities, number of initiatives undertaken by
local governments, and significant investment by leading industry players
considering potential growth opportunities in the region. The key players in
the machine vision market are Basler AG, Cognex Co., Keyence Co., Microscan
Systems Incorporations, National Instruments Co., and OMRON Co.
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