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 News

  • 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.
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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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