Global Machine Vision Market

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 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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FAQs

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 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. '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 '

Growing Preference for Safety in Industrial Sector

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.

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.

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Global Machine Vision Market

Report ID: SQMIG45I2233

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