USD 18.97 Billion
Machine Vision Market Size, Share, Growth Analysis, By Offering (Hardware, Processor, Software, and Services), By Product (PC Based and Smart Camera Based), By Application (Quality Assurance & Inspection, Positioning and Guidance, Measurement, and Identification), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45I2233 |
Region:
Global |
Published Date: January, 2025
Pages:
168
|Tables:
118
|Figures:
67
Machine Vision Market Insights
Global Machine Vision Market size was valued at USD 18.97 Billion in 2023 and is poised to grow from USD 21.30 Billion in 2025 to USD 47.98 Billion by 2032, growing at a CAGR of 12.30 % in the forecast period (2025-2032).
The increasing demands for quality inspection and automation across different industrial sectors is poised to propel the machine vision market forward. Additionally, the necessity for vision-guided robotic frameworks throughout automotive manufacturing, food and beverage processing, pharmaceutical and chemical development, and packaging assembly is anticipated to fuel machine vision market growth. The surge in requirements for application-specific machine vision systems is likewise stimulating adoption of the technologies over the projected period. Machine vision platforms involve the capacity of a computer to observe, examine, and scrutinize work performance employing one or more digital cameras, signal refining, and analog-to-digital transformation. The captured data is then relayed to the computer to analyze and provide the necessary output. Resolution and sensitivity are two pivotal attributes of any machine vision framework. Resolution is accountable for distinguishing between objects, whereas sensitivity is the machine's ability to detect objects or weak signals despite dim lighting or invisible wavelengths.
The machine vision systems, incorporating advanced machine vision cameras alongside sophisticated image processing capabilities, play a pivotal role in automating measurements and inspections. This integration enhances precision, speed, and accuracy, thereby fulfilling the pressing needs for heightened quality control and operational efficiency across diverse industrial applications. Meanwhile, the bolstering of process automation efforts as well as amplified emphasis on minimizing human intervention underpin the burgeoning deployment. However, further optimization of systems remains crucial to fully leverage the benefits of rapid, consistent, detailed examinations while ensuring seamless integration within production workflows.
Market snapshot - (2025-2032)
Global Market Size
Largest Segment
PC-Based
Fastest Growth
Smart-Camera Based
Growth Rate
12.30% CAGR
Global Machine Vision Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Machine Vision Market Segments Analysis
The global machine vision market is segmented into offering, product, application, end-use industry, and region. Based on offering, the market is segmented into hardware, processor, software, and services. Based on product, the market is segmented into PC based and smart camera based. Based on application, the market is segmented into quality assurance & inspection, positioning and guidance, measurement, and identification. Based on end-use industry, the market is segmented into automotive, pharmaceuticals & chemicals, electronics & semiconductor, and pulp & paper. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Analysis by Offering
In 2023, the hardware segment accounted for the largest revenue machine vision market share while dominating the market. Hardware comprises several key components including cameras, sensors, processors, frame grabbers, and optics. Cameras generated significant demand in 2023 owing to increased usage of CMOS imaging sensors across various industries. Based upon the hardware components within machine vision systems, the hardware segment can be further categorized into specific sub-segments consisting of cameras, frame grabbers, optics, LED lighting solutions, and processors. The camera sub-segment proved particularly vital as higher-resolution cameras incorporating more advanced sensors enter widespread use. Processors also grew in importance due to the need for machine vision systems to efficiently analyze increasing amounts of visual data in real-time using cutting-edge artificial intelligence algorithms.
The software segment is witnessing the fastest growth with increasing machine vision market size. The software offerings are diversified into barcode scanning, deep learning techniques, and standard algorithms. Barcode scanning is the process of assessing the quality of an image containing a barcode prior to and following printing. Machine vision platforms establish benchmarks and specifications relating to International Organization for Standardization protocols that back barcode quality standards. Deep learning techniques within the segment are anticipated to experience the most dramatic growth over the forecast period owing to rising needs for intelligent machine vision systems equipped with capabilities to respond appropriately based on operational needs across diverse industrial verticals.
Analysis by Product
In terms of product, the machine vision market is segmented into PC based products and smart camera-based products. As per machine vision market analysis of 2023, PC systems dominated the market in terms of products and accounted for more than half of the demand share. Cutting edge smart camera technologies for PC based segment is forecasted to exhibit explosive growth during the coming years. This astonishing surge for such solutions can largely be tied to the booming implementation of cameras in applications of 3D imaging as organizations embrace novel approaches for visualizing ideas. These factors are increasing the demand for the segment, leading to the machine vision market growth.
Smart camera-based segment is expected to witness the fastest demand growth during the machine vision market forecast period. Machine vision setups, also referred to as optical systems, usually incorporate various cameras. Occasionally, subject to the desired outcome, these cameras are fixed above assembly lines to observe and examine merchandise and gather intelligence. This is resulting in heightened acceptance of smart cameras in such frameworks. Cameras are equally able of decoding symbols and forwarding items independently devoid of any person participation. Reduced human intercession has brought about cut down mistakes and enhanced correctness when inspecting insignias and tags. These properties of smart cameras are influencing the reception of the engineering across diverse commercial areas, thus fueling the whole sector increase.
Global Machine Vision Market Analysis by Product
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Machine Vision Market Regional Insights
Asia Pacific has dominated the market with the highest machine vision market share in 2023 due to extensive applications in automotive, packaging, pharmaceutical, and various industrial applications as the region establishes itself as a global manufacturing hub. The region is also poised to grow robustly during the forecast period. China and Japan are prominent countries that have the potential to provide extensive opportunities for both emerging and established technologies like machine vision to take hold. Additionally, the local cost and operational benefits coupled with initiatives by governments of emerging nations such as South Korea, India, Taiwan, and Singapore have propelled investments and encouraged numerous industry players to situate production facilities within the Asia Pacific region.
North America is the second largest region witnessing fastest growth in the market with an increasing machine vision market size. The region is home to early adopters of manufacturing automation and many domestic vision equipment developers, is expected to see significant growth over the projected period. Semiconductors, a core industry for machine vision systems, are strongly centered in North America, resulting in dominance here. Meanwhile, vision technologies progress towards increased sophistication and compactness for integration into diverse applications such as self-driving vehicles and AI-aided materials handling. The United States in particular contains numerous global giants and also drives cutting-edge research and development activities crucial for technological breakthroughs. Streamlined engineering also affords the nation competitive advantages. All such factors underpin the thriving market for machine vision solutions across the United States.
Global Machine Vision Market By Geography
- Largest
- Fastest
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Machine Vision Market Dynamics
Drivers
- Growing Preference for Safety in Industrial Sector
While industry has increasingly embraced innovative technologies to boost protection and outputs, prioritizing human capital remains key. Targeted skills development and thorough protection protocols ready the labor force with vital abilities, underpinning safety and quality commitment. This focused investment in safety and quality cultivates workstream leanness while strengthening buyer faith and contentment with industrial offerings and undertakings. This is expected to boost the investment in machine vision products.
- Growing Need for Automation
The rise in automation demand within industrial applications considerably propels the machine vision market. For industries striving to boost efficiency, precision, and productivity, automation proves progressively indispensable. Machine vision systems significantly partake in this automation upheaval through furnishing live visual examination, quality regulation, and treatment optimization.
Restraints
- Limited Number of Skilled Workforce in Manufacturing Sector
While automation streamlines operations and quality, lower-skilled workers face barriers accessing these opportunities. Shortages in machine vision expertise endanger efficiency within manufacturing. Inadequate workforce prolongs downtimes, while unreliable inspections and soaring costs jeopardize both consistency and optimization. To maintain competitiveness amid changes, businesses must bridge divisions between new technologies' potential and workforces' preparation.
- Integration of Machine Vision Systems is Complicated
While the streamlining of machine vision systems integration and production line components is surely needed, a more pressing demand centers around the simplification of installation and handling for all technical applications. Leading firms in this industry must address such requirements by devising solutions allowing for convenient plug-and-play functionality.
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Machine Vision Market Competitive Landscape
The machine vision industry is characterized by a fragmentation landscape featuring diverse companies. The diversified product offerings from new entrants and specialized technological developments addressing precise industrial needs. Intense competition prevails, compelling businesses to consistently pioneer innovations and distinguish offerings to carve niches in the market. To navigate and thrive in this competitive landscape, strategic maneuvers including collaborations, mergers, and acquisitions are imperative. These initiatives not only consolidate technical know-how but also operate as strategic instruments for broadening market presence and enhancing overall competitiveness. Furthermore, the major players in the market are emphasizing waste reduction by recycling discarded products and decreasing the usage of raw materials.
Top Player’s Company Profile
- 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
Recent Developments
- In October 2023, Emerson completed the acquisition of NI. This will make Emerson's second largest industry segment, and NI adds to Emerson's end market exposure in discrete markets. The acquisition of NI further enhances Emerson's leadership position in global automation market.
- In August 2023, Cognex Corporation made the acquisition of Moritex Corporation for USD 275 million from Trustar Capital. Moritex is a global leader and top manufacture of optics components in Japan.
- In November 2023, Basler AG and MVTec Software GmbH collaborated with Siemens to deliver machine vision solutions right into customer machines and systems. Basler AG and Siemens have partnered to allow customers to seamlessly annotate machine vision apps into their automation tech.
Machine Vision Key Market Trends
- Integration of Industry 4.0 in Manufacturing: Industry 4.0 technologies are revolutionizing manufacturing processes to boost productivity through maximizing asset use, reducing downtime, and improving labor efficiency. Industry 4.0 is poised to enhance operations across the entire supply chain, from research and development to the end use. The adoption of Industry 4.0 will aid productivity through quality monitoring and predictive servicing of factory machines, driving demand for computer vision systems as they can accurately spot defects in industrial production lines.
- Development in Advanced Camera Technology: With the dawn of intelligent camera technologies, manufacturers can now easily craft and deploy customized machine vision models meeting their customer's precise needs, empowering customers to glean thorough and impactful understandings from important insights. Poised for substantial expansion, the market owes much to the growing prevalence of smart cameras—compact powerhouses capable of sophisticated on-board processing.
Machine Vision Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the growing emphasis on stringent quality standards across industries has propelled the machine vision industry significantly. As industries across diverse sectors such as automotive, electronics, pharmaceutical and food & beverage strive to satisfy stringent standards of quality and preserve competitive advantage, the demand for sophisticated machine vision systems is expected to surged significantly during the forecast period. These systems are fundamental in automating the inspection process, ensuring consistency, precision, and efficiency in quality control—factors which ultimately propel market growth. Furthermore, quality assurance and inspection are foundational elements of manufacturing approaches, confirming that products meet predefined criteria before entering the marketplace. In sectors such as automotive, electronics, pharmaceuticals, and food & beverage, even minor defects can result in sizable financial losses, recalls, and harm to brand reputation. Therefore, enterprises are increasingly investing in machine vision systems to identify and remedy defects in real time, thereby enhancing product quality while reducing waste.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 18.97 Billion |
| Market size value in 2032 | USD 47.98 Billion |
| Growth Rate | 12.30% |
| Base year | 2024 |
| Forecast period | (2025-2032) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Machine Vision Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Machine Vision Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Machine Vision Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Machine Vision Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Machine Vision Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Machine Vision Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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