Machine Vision Market

Machine Vision Market Size, Share & Industry by Component (Hardware, Software), Deployment (General, Robotic Cells), Product (PC-based Machine Vision System, Smart Camera-based Machine Vision System), Application, End-user Industry and Region - Global Forecast to 2028

Report Code: SE 5835 Nov, 2023, by marketsandmarkets.com

The global Machine vision market Size is expected to grow from USD 12.9 billion in 2023 to USD 18.4 billion by 2028, registering a CAGR of 7.3%. Machine vision flourishes across industries, driven by advancements in AI and automation, enhancing precision and efficiency in manufacturing, healthcare, automotive, and more. The market growth is remarkable.Top of Form

Machine Vision Market

Machine Vision Market

Machine Vision Market Forecast to 2028

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The global machine vision market is expanding rapidly, driven by the increasing demand for automated quality inspection and process control solutions across various industries. Industrial machine vision systems play a crucial role in ensuring product quality, optimizing production processes, and enhancing safety standards. These systems utilize advanced image processing and analysis techniques to extract meaningful information from captured images or videos, enabling real-time decision-making and automation.

Key applications of industrial machine vision include product inspection, object detection and tracking, defect detection, and robot guidance. In the manufacturing industry, machine vision systems are used to inspect components for defects, ensure product consistency, and verify assembly accuracy. In the automotive industry, machine vision is employed to detect cracks in welds, identify missing parts, and verify vehicle assembly. In the pharmaceutical industry, machine vision systems are used to inspect tablets for defects, ensure proper packaging, and verify labeling accuracy.”

Market Dynamics

Driver: Rising need for safety and enhancing product quality in industrial sector

In recent years, the industrial sector has witnessed a notable surge in the integration of cutting-edge technologies and operational practices, aiming to elevate safety standards and enhance product quality. Automation and robotics have taken center stage, streamlined operations, and reduced risks by handling repetitive and hazardous tasks. IoT and Industry 4.0 technologies enable real-time monitoring, predictive maintenance, and data-driven decision-making, enhancing safety and ensuring consistent product quality. Advanced sensors and AI-driven quality control mechanisms allow immediate anomaly detection and timely interventions, promoting a safer work environment and high product standards. Employee training and comprehensive safety programs have gained prominence to equip the workforce with essential skills, promoting safety and quality adherence. Additionally, supply chain transparency, collaborative robotics, sustainability initiatives, and stringent compliance with environmental standards further contribute to this dual objective. This concerted effort toward safety and quality fosters operational efficiency and bolsters consumer confidence and satisfaction in industrial products and processes.

Restraint: Lack of Skilled professionals in Manufacturing factories

Companies across various industries embrace emerging technologies to improve operational efficiency and performance, reduce waste and conserve natural resources, reach new markets and audiences quickly and conveniently, and support product and process innovation. Advancements in technology will significantly impact job availability and growth in the global economy—eliminating jobs, creating new jobs, and demanding new skills from workforces worldwide. Factories embracing machine vision technology would require more complex skill sets, making it difficult for lower-skilled, less-educated workers to access opportunities. Machine vision systems require a technically skilled workforce that can understand machine signals on a dashboard and work hand-in-hand with collaborative robots on which machine vision systems are mounted. The shortage of skilled professionals in machine vision systems within the manufacturing sector can have detrimental effects on operational efficiency. This includes inefficient setup and maintenance, increased downtime, inaccurate inspections, and escalated operational costs. These issues may lead to compromised product quality, inconsistency, and underutilization of machine vision's potential for process optimization and automation. It is imperative for businesses to bridge this skill gap to ensure the effective utilization of machine vision systems and maintain competitiveness.

Opportunity: Integration of Industry 4.0 technologies into manufacturing processes

Industry 4.0 technologies are being integrated into manufacturing processes to improve productivity by maximizing asset utilization, minimizing downtime, and improving labor efficiency. Industry 4.0 is expected to enhance operations at all value chain levels, from the R&D to the end-use stages. The use of Industry 4.0 will help enhance productivity through quality control (by detecting defects) and predictive maintenance of factory machinery, which is expected to drive the demand for machine vision systems as these systems can accurately detect defects in industrial manufacturing processes. Governments in countries such as the US, Germany, the UK, and China promote the use of Industry 4.0. America Makes, an initiative by the US government, aims to help bolster technology research, discovery, creation, and innovation in the US. This initiative is carried out in collaboration with major US-based manufacturers, industries, academia, and government and non-government agencies to bring innovations in competitive manufacturing. The German government is adopting Industry 4.0 to computerize the manufacturing sector to increase resource efficiency and industrial output. The UK government considers Industry 4.0 as one of the five sectors likely to receive government support to boost the development of struggling manufacturing firms.

Challenge: Complexities associated with integration of different components of machine vision systems and production lines at application sites 

Whether it is a camera, optics, software, lighting, or a frame grabber, versatile solutions can be quickly developed to tackle a wide range of tasks by using multipurpose components. The hour needs to simplify the integration process of different components of machine vision systems and the production lines at application sites. With increasing efforts being put into boosting the convenience of installing and handling all technical systems, players in the machine vision industry must look to address this need by coming up with plug-and-play solutions. Leading companies in the market are introducing open computing standards such as peripheral component interconnect (PCI) buses and emerging digital camera interfaces, including GigE and USB. The USB interfacing standard offers a transfer rate of about 480 Mbps. With the help of a driver, this USB interface can be used for plug-and-play applications.

Machine vision Market Size Ecosystem

Component suppliers and system integrators have witnessed a decline in production activities. Consequently, OEMs have needed more essential components. The figure below shows the Machine vision ecosystem.

Machine vision Market by Ecosystem

General Deployment of Machine vision holds largest market share in year 2022

The General Deployment of machine vision is rapidly expanding due to advancements in hardware and software, making it more accessible and cost-effective. This growth is driven by increased automation demands, diverse applications across industries like manufacturing, healthcare, and retail, as well as quality control, safety, and security needs. Machine vision's role in autonomous vehicles, healthcare, and agriculture further propels its market growth, promising continued technological innovation and widespread adoption.

Software components segment to grow at highest CAGR in the forecast period 2023-2028.

Software components in the machine vision market have seen remarkable growth. They've become increasingly sophisticated, offering advanced image processing, pattern recognition, and deep learning capabilities. This progress has enabled machine vision systems to handle complex tasks in industries like manufacturing, healthcare, and autonomous vehicles, driving market expansion.

Smart camera-based machine vision system segment to grow at highest CAGR in the forecast period 2023-2028.

The machine vision sector is witnessing robust growth in smart camera-based systems. These compact solutions, equipped with integrated processing power, are in high demand across various industries. As automation and quality control needs continue to rise, smart camera systems are becoming increasingly vital in enhancing efficiency and accuracy, propelling their rapid proliferation..

Food & Packaging is expected to register highest CAGR during the forecast period

Machine vision's adoption has seen a remarkable surge in the food and packaging industry. It has brought about a paradigm shift in quality control and operational efficiency. Automated inspection systems now play a pivotal role in identifying defects, maintaining precise labeling, and safeguarding product integrity. This transformation has led to more streamlined manufacturing processes, marked reductions in errors, and better adherence to stringent industry regulations, ultimately elevating product safety and enhancing customer satisfaction.

Machine Vision Market by Region

Machine Vision Market by Region

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Asia Pacific to grow at highest CAGR during the forecast period

In the business landscape of the Asia Pacific region, the Machine Vision System sector has undergone a remarkable evolution, characterized by a harmonious blend of technological innovation and the rich tapestry of cultural diversity. This thriving market spans across an array of sectors, including electronics and agriculture, showcasing the distinctive strengths of each nation. China's rapid technological progression, Japan's mastery of precision engineering, and South Korea's creative ingenuity collectively orchestrate a unique and dynamic expansion in the Machine Vision System industry within this dynamic region.

Key market players

The Machine vision companies players have implemented various organic and inorganic growth strategies, such as product launches, collaborations, partnerships, and acquisitions, to strengthen their offerings in the market. The major players in the market are Cognex Corporation (US), Basler AG (Germany), Omron Corporation (Japan), National Instrument Corporation (US), Keyence Corporation (Japan), Teledyne Technologies (US), Sick AG (Germany), TKH Group (Netherland), Sony Corporation (Japan), Texas Instruments Incorporated (US), Intel Corporation (US), Atlas Copco (Sweden), Microsoft (US) and Others

The study includes an in-depth competitive analysis of these key players in the Machine vision market with their company profiles, recent developments, and key market strategies.

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Scope of the Report

Report Metric

Details

Years Considered

2019–2028

Base Year Considered

2022

Forecast Period

2023–2028

Forecast Units

Value (USD Million/Billion)

Segments Covered

By Deployment, By Component, By Product, By Industry, and By Region

Regions Covered

North America, Asia Pacific, Europe, and the Rest of the World

Companies Covered

Cognex Corporation (US), Basler AG (Germany), Omron Corporation (Japan), National Instrument Corporation (US), Keyence Corporation (Japan), Teledyne Technologies (US), Sick AG (Germany), TKH Group (Netherland), Sony Corporation (Japan), Texas Instruments Incorporated (US), Intel Corporation (US), Atlas Copco (Sweden), Microsoft (US) and a total of 25 players covered

Machine Vision Market Highlights

This report has segmented the Machine Vision market based on Deployment, Component, Product, Application, Industry and Region.

Segment

Subsegment

By Deployment

  • General
  • Robotic cell

By Component

  • Hardware
    • Camera
    • Optics
    • Frame Grabber
    • Processors
    • LED Lighting
    • Others
  • Software
    • Traditional
    • Deep learning

By Product

  • PC Based
  • Smart Camera Based

By Industry

  • Automotive
  • Consumer Electronics
  • Electronics & Semiconductors
  • Printing
  • Metals
  • Wood & Paper
  • Food & Packaging
  • Rubber & Plastic
  • Pharmaceuticals
  • Glass
  • Machinery
  • Solar Panel Manufacturing
  • Textile

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Rest of the World
    • GCC
    • Africa & Rest of Middle East
    • South America

Recent Developments:

  • In May 2023, Cognex Corporation has unveiled the Advantage 182 vision system. This cutting-edge system is specifically engineered to streamline intricate tasks such as location identification, classification, and inspection. The all-in-one solution integrates state-of-the-art machine vision capabilities, barcode reading functionality, and advanced edge learning technology. With these advanced features, the Advantage 182 enables automation across a wide range of applications, ranging from basic presence/absence detection and track-and-trace functions to meticulous alignment tasks and comprehensive color inspections.
  • In May 2023, Teledyne DALSA, a subsidiary of Teledyne Technologies, announce the commencement of production for its Linea 2 4k Multispectral 5GigE line scan camera. This advanced camera elevates the capabilities of vision systems with its exceptional performance and value. It incorporates a 5GigE interface, providing five times the bandwidth of the Linea GigE camera, and represents a significant leap forward in terms of speed and data transfer capabilities.
  • In March 2023, Texas Instruments (TI) has launched a new series of six Arm Cortex-based vision processors, emphasizing advancements in edge intelligence. This family enables designers to enhance vision and artificial intelligence (AI) processing affordably and with improved energy efficiency in applications like video doorbells, machine vision, and autonomous mobile robots, fostering innovation at the edge.characteristics, combining functionalities of a colorimeter, spectrophotometer, and water testing methods within a single, portable unit, replacing the need for three separate instruments.
  • 14th Nov 2023, ASTM International is developing a proposed standard for robotic bin-picking systems used in industrial environments. The standard will provide guidance for choosing the right 3D machine vision system for a particular application. This will save potential users time and speed up new technologies' adoption.
  • 1st Nov 2023, Oxford Metrics has acquired Industrial Vision Systems Ltd. (IVS), a developer of machine vision software and systems, for $9.9 million. IVS's noncontact vision systems, powered by AI deep learning, are used for automated production processes for high-precision quality control, inspection, guidance, identification, measurement, tracking, and counting. This acquisition will expand Oxford Metrics' smart sensing capabilities into the manufacturing industry.
  • 30th Oct 2023, Smart Vision Lights has launched the JWL150-DO Lightgistics Series light with Hidden Strobe technology, which delivers strobe-like lighting without the disorientation caused by traditional LED strobe lights. This technology helps high-speed machine vision systems capture clear images without affecting workers. Additionally, Lightgistics lights feature Dual OverDriveTM technology for accurate barcode reading and OCR in challenging applications.
  • 3rd Oct 2023, Eigen Innovations' end-to-end machine vision solutions have been installed at The Smart Factory @ Montreal, Deloitte Canada's innovation facility. Eigen's solutions generate comprehensive digital records of parts in production, simplifying machine learning training and enabling production teams to prevent issues rather than just detect them. Eigen's approach to machine vision reduces customization and trial and error, providing manufacturers with a standardized solution for every part across machines, lines, and factories.
  • 14th Sept 2023, Beckhoff Vision offers a comprehensive product portfolio of EtherCAT-enabled industrial cameras, lighting, and lensing components paired with proven TwinCAT Vision software. This solution provides high scalability, long-term availability, and a sleek design.
  • 29th Aug 2023, Hitachi, Ericsson, and AWS have partnered to demonstrate the use of private 5G, cloud, and AI/ML technologies to enhance product quality in manufacturing. They developed a system that uses cameras and machine vision to inspect 24 assembly-line components simultaneously and detect defects down to sub-millimeter level. This system has the potential to revolutionize the way products are manufactured by improving operational efficiency, product quality, supply chain optimization, and environmental impact.
  • 1st Aug 2023, Cognex Corporation's new Advantage 182 vision system combines advanced machine vision, barcode reading, and edge learning technology to automate a wide range of tasks in various industries, including life sciences. It supports both edge learning and rule-based tools and features modular hardware for long-term adaptability.
  • 7th July 2023, Gloria Ferrer, a California vineyard, uses an AI-powered machine vision system to track its grapes during the growing season. The system uses cameras and AI models to count grape clusters, measure shoots, and identify the colors of grape clusters. This information is used to estimate crop yields, track the health of the vines, and make management decisions.
  • 21st June 2023, A new machine-vision system that uses ultrathin layers of semiconductor wafers has been developed by scientists at RMIT University. The system can reportedly “see” in the ultraviolet range and rapidly process the detected images, making it potentially useful for applications such as autonomous driving and inspections on the manufacturing floor. The system's key is using antimony-doped indium oxide sheets less than 3 nm thick. These sheets exhibit persistent photoconductivity, allowing the system to retain information for longer without frequent training cycles. The system also incorporates a convolutional neural network to finish the image processing. The researchers believe that their work could lead to a new generation of compact, fast, scalable, and energy-efficient machine-vision systems.

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 31)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
           1.3.4 CURRENCY CONSIDERED
    1.4 LIMITATIONS 
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
    1.7 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 35)
    2.1 INTRODUCTION 
           FIGURE 1 MACHINE VISION MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 List of major secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Breakdown of primaries
                    2.1.2.2 Key data from primary sources
           2.1.3 SECONDARY AND PRIMARY RESEARCH
                    2.1.3.1 Key industry insights
    2.2 MARKET SIZE ESTIMATION 
           FIGURE 2 MARKET SIZE ESTIMATION (SUPPLY SIDE): REVENUE GENERATED FROM SALES OF MACHINE VISION SYSTEMS
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach to derive market size using bottom-up analysis (demand side)
                               FIGURE 3 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach to derive market size using top-down analysis (supply side)
                               FIGURE 4 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH
    2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 
           FIGURE 5 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS 
           FIGURE 6 ASSUMPTIONS
    2.5 APPROACH TO ANALYZE IMPACT OF RECESSION ON MACHINE VISION MARKET 
    2.6 RISK ASSESSMENT 
 
3 EXECUTIVE SUMMARY (Page No. - 45)
    FIGURE 7 CAMERAS SEGMENT TO DOMINATE MACHINE VISION MARKET DURING FORECAST PERIOD
    FIGURE 8 GENERAL SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2023
    FIGURE 9 SMART CAMERA-BASED SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2028
    FIGURE 10 FOOD & PACKAGING SEGMENT TO HOLD LARGEST MARKET SHARE IN 2028
    FIGURE 11 ASIA PACIFIC MACHINE VISION MARKET TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 50)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MACHINE VISION MARKET 
           FIGURE 12 EXPANDING FOOD & PACKAGING INDUSTRY TO CREATE LUCRATIVE OPPORTUNITIES FOR MARKET PLAYERS
    4.2 MACHINE VISION MARKET, BY DEPLOYMENT 
           FIGURE 13 ROBOTIC CELL SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
    4.3 MACHINE VISION MARKET, BY COMPONENT 
           FIGURE 14 HARDWARE SEGMENT TO HOLD LARGER MARKET SHARE IN 2028
    4.4 MACHINE VISION MARKET, BY PRODUCT 
           FIGURE 15 SMART CAMERA-BASED SEGMENT TO HOLD LARGER MARKET SHARE IN 2028
    4.5 MACHINE VISION MARKET, BY INDUSTRY 
           FIGURE 16 FOOD & PACKAGING SEGMENT TO DOMINATE MACHINE VISION MARKET DURING FORECAST PERIOD
    4.6 MACHINE VISION MARKET, BY REGION 
           FIGURE 17 ASIA PACIFIC TO HOLD LARGEST MARKET SHARE IN 2028
    4.7 MACHINE VISION MARKET, BY COUNTRY 
           FIGURE 18 CHINA MACHINE VISION MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 54)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 19 MACHINE VISION MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Growing need for quality control and automated inspection in manufacturing sector
                    5.2.1.2 Increasing installation of vision-guided robotic systems in various sectors
                               FIGURE 20 ANNUAL INSTALLATION OF INDUSTRIAL ROBOTICS, 2017–2022
                    5.2.1.3 Rising need for safety and enhancing product quality in industrial sector
                               FIGURE 21 MACHINE VISION MARKET: IMPACT ANALYSIS OF DRIVERS
           5.2.2 RESTRAINTS
                    5.2.2.1 Vulnerability of industrial robotic systems to cyberattacks
                    5.2.2.2 Shortage of skilled professionals for operating machine vision systems in manufacturing sector
                               FIGURE 22 MACHINE VISION MARKET: IMPACT ANALYSIS OF RESTRAINTS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Adoption of machine vision systems in food & beverage industry
                    5.2.3.2 Government-led initiatives to support industrial automation
                    5.2.3.3 Increasing use of AI-based systems in manufacturing and non-manufacturing applications
                    5.2.3.4 Integration of Industry 4.0 technologies into manufacturing processes
                    5.2.3.5 Emergence of miniaturized smart cameras and processors
                    5.2.3.6 Increasing demand for hybrid and electric vehicles
                               FIGURE 23 GLOBAL ELECTRIC VEHICLE SALES, 2010–2022
                               FIGURE 24 MACHINE VISION MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
           5.2.4 CHALLENGES
                    5.2.4.1 Complexities associated with integration of different components of machine vision systems at application sites and production lines
                    5.2.4.2 Lack of awareness and high cost associated with AI-based machine vision systems
           FIGURE 25 MACHINE VISION MARKET: IMPACT ANALYSIS OF CHALLENGES
    5.3 SUPPLY CHAIN ANALYSIS 
           FIGURE 26 MACHINE VISION MARKET: SUPPLY CHAIN ANALYSIS
    5.4 ECOSYSTEM MAPPING 
           FIGURE 27 MACHINE VISION MARKET: ECOSYSTEM MAPPING
           TABLE 1 COMPANIES AND THEIR ROLE IN MACHINE VISION ECOSYSTEM
    5.5 PRICING ANALYSIS 
           5.5.1 AVERAGE SELLING PRICE (ASP) OF MACHINE VISION SYSTEMS OFFERED BY THREE KEY PLAYERS, BY COMPONENT
                    FIGURE 28 AVERAGE SELLING PRICE (ASP) OF MACHINE VISION SYSTEMS, 2022–2028 (USD)
                    FIGURE 29 AVERAGE SELLING PRICE (ASP) OF CAMERAS AND OPTICS OFFERED BY THREE KEY PLAYERS, BY COMPONENT
                    TABLE 2 AVERAGE SELLING PRICE (ASP) OF CAMERAS AND OPTICS OFFERED BY THREE KEY PLAYERS (USD)
                    TABLE 3 AVERAGE SELLING PRICE (ASP) OF OPTICS, BY REGION (USD)
    5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 
           FIGURE 30 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
    5.7 TECHNOLOGY ANALYSIS 
           5.7.1 1D MACHINE VISION
           5.7.2 2D MACHINE VISION
           5.7.3 3D MACHINE VISION
           5.7.4 CARTESIAN ROBOTS/INDUSTRIAL ROBOTICS
           5.7.5 INDUSTRIAL INTERNET OF THINGS (IIOT) AND AI
           5.7.6 LIQUID LENSES
           5.7.7 ROBOTIC VISION
           5.7.8 5G
    5.8 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 4 MACHINE VISION MARKET: PORTER’S FIVE FORCES ANALYSIS, 2022
           FIGURE 31 MACHINE VISION MARKET: PORTER’S FIVE FORCES ANALYSIS, 2022
           5.8.1 THREAT OF NEW ENTRANTS
           5.8.2 THREAT OF SUBSTITUTES
           5.8.3 BARGAINING POWER OF SUPPLIERS
           5.8.4 BARGAINING POWER OF BUYERS
           5.8.5 INTENSITY OF COMPETITIVE RIVALRY
    5.9 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.9.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 32 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE INDUSTRIES
                    TABLE 5 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE INDUSTRIES (%)
           5.9.2 BUYING CRITERIA
                    FIGURE 33 KEY BUYING CRITERIA FOR TOP THREE INDUSTRIES
                    TABLE 6 KEY BUYING CRITERIA FOR TOP THREE INDUSTRIES
    5.10 CASE STUDY ANALYSIS 
           5.10.1 BOX SORTING INNOVATIVE MACHINE VISION SOLUTION WAS DEVELOPED TO VERIFY KEY COMPONENTS ON EACH BOX
           5.10.2 BLUEWRIST DEVELOPED BLUEWRIST 3D VISION ROBOT GUIDANCE SOLUTION FOR AUTOMAKER
           5.10.3 RNA MK360 GLASS DISC VISION MACHINE WAS DEVELOPED FOR PHARMACEUTICAL INDUSTRY
    5.11 TRADE ANALYSIS 
           FIGURE 34 IMPORT DATA FOR PRODUCTS UNDER HS CODE 852580, BY KEY COUNTRY, 2018–2022 (USD MILLION)
           FIGURE 35 EXPORT DATA FOR PRODUCTS UNDER HS CODE 852580, BY KEY COUNTRY, 2018–2022 (USD MILLION)
    5.12 PATENT ANALYSIS 
           FIGURE 36 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
           FIGURE 37 PATENTS REGISTERED RELATED TO MACHINE VISION SYSTEMS, 2013–2022
           TABLE 7 TOP 20 PATENT OWNERS IN LAST 10 YEARS
           5.12.1 LIST OF MAJOR PATENTS RELATED TO MACHINE VISION SYSTEMS
                    TABLE 8 MACHINE VISION MARKET: PATENTS AND INNOVATIONS
    5.13 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 9 MACHINE VISION MARKET: LIST OF CONFERENCES AND EVENTS
    5.14 REGULATORY LANDSCAPE 
           5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 10 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 11 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 12 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.15 STANDARDS 
           5.15.1 INTERFACE/CONNECTIVITY
                    5.15.1.1 GigE Vision
                    5.15.1.2 USB3 Vision
                    5.15.1.3 CoaXPress (CXP)
           5.15.2 CAMERA
                    5.15.2.1 EMVA 1288
                    5.15.2.2 ASTM E57
           5.15.3 LENS
                    5.15.3.1 Japan Industrial Imaging Association (JIAA)
           5.15.4 PROGRAMMING INTERFACE
                    5.15.4.1 GenICam
                               TABLE 14 MACHINE VISION MARKET: STANDARDS
 
6 MACHINE VISION MARKET, BY APPLICATION (Page No. - 92)
    6.1 INTRODUCTION 
           FIGURE 38 MACHINE VISION MARKET, BY APPLICATION
    6.2 QUALITY ASSURANCE AND INSPECTION 
           6.2.1 GROWING USE OF MACHINE VISION SYSTEMS TO DETECT DEFECTS, CONTAMINANTS, AND FUNCTIONAL FAILURES IN VARIOUS INDUSTRIES
    6.3 POSITIONING AND GUIDANCE 
           6.3.1 INCREASING ADOPTION OF MACHINE VISION SYSTEMS TO ENSURE HIGH-SPEED PRODUCTION AND PRECISE OBJECT ORIENTATION AND PLACEMENT
    6.4 MEASUREMENT 
           6.4.1 RISING DEPLOYMENT OF MACHINE VISION SYSTEMS IN AUTOMOTIVE AND ELECTRONICS INDUSTRIES TO DETERMINE PRECISE OBJECT DIMENSIONS
    6.5 IDENTIFICATION 
           6.5.1 INCREASING ADOPTION OF MACHINE VISION SYSTEMS TO READ VARIOUS CODES AND ALPHANUMERIC CHARACTERS PRINTED ON PARTS
    6.6 PREDICTIVE MAINTENANCE 
           6.6.1 GROWING USE OF MACHINE VISION SYSTEMS IN PREDICTIVE MAINTENANCE TO AGGREGATE AND PROCESS DATA FASTER AND AVOID MACHINE DOWNTIME
 
7 MACHINE VISION MARKET, BY DEPLOYMENT (Page No. - 96)
    7.1 INTRODUCTION 
           FIGURE 39 MACHINE VISION MARKET, BY DEPLOYMENT
           FIGURE 40 GENERAL SEGMENT TO HOLD LARGER MARKET SHARE IN 2023
           TABLE 15 MACHINE VISION MARKET, BY DEPLOYMENT, 2019–2022 (USD MILLION)
           TABLE 16 MACHINE VISION MARKET, BY DEPLOYMENT, 2023–2028 (USD MILLION)
           7.1.1 GENERAL
                    7.1.1.1 Use of machine vision systems to automate inspections using cameras and software in various industries to drive market
           7.1.2 ROBOTIC CELL
                    7.1.2.1 Growing demand for automation and technological advancements in robotic cells to fuel market growth
 
8 MACHINE VISION MARKET, BY COMPONENT (Page No. - 99)
    8.1 INTRODUCTION 
           FIGURE 41 MACHINE VISION MARKET, BY COMPONENT
           FIGURE 42 SOFTWARE SEGMENT TO REGISTER HIGHER CAGR DURING FORECAST PERIOD
           TABLE 17 MACHINE VISION MARKET, BY COMPONENT, 2019–2022 (USD MILLION)
           TABLE 18 MACHINE VISION MARKET, BY COMPONENT, 2023–2028 (USD MILLION)
    8.2 HARDWARE 
           TABLE 19 MACHINE VISION MARKET, BY HARDWARE, 2019–2022 (USD MILLION)
           TABLE 20 MACHINE VISION MARKET, BY HARDWARE, 2023–2028 (USD MILLION)
           TABLE 21 CAMERAS: MACHINE VISION HARDWARE MARKET, 2022 (MILLION UNITS)
           8.2.1 CAMERAS
                    8.2.1.1 Emergence of 3D cameras with high-precision vision
                               TABLE 22 CAMERAS: MACHINE VISION MARKET FOR HARDWARE, BY PRODUCT, 2019–2022 (USD MILLION)
                               TABLE 23 CAMERAS: MACHINE VISION MARKET FOR HARDWARE, BY PRODUCT, 2023–2028 (USD MILLION)
                    8.2.1.2 Interface standards
                               8.2.1.2.1 USB 2.0
                               8.2.1.2.2 USB 3.0
                               8.2.1.2.3 Camera Link
                               8.2.1.2.4 Camera Link HS
                               8.2.1.2.5 GigE
                               8.2.1.2.6 10 GigE & 25 GigE bandwidth over GigE Vision
                               8.2.1.2.7 Others
                    8.2.1.3 Imaging spectrum
                               8.2.1.3.1 Visible light
                               8.2.1.3.2 Visible + IR/IR
                                            TABLE 24 CAMERAS: MACHINE VISION HARDWARE MARKET, BY IMAGING SPECTRUM, 2019–2022 (USD MILLION)
                                            TABLE 25 CAMERAS: MACHINE VISION HARDWARE MARKET, BY IMAGING SPECTRUM, 2023–2028 (USD MILLION)
                    8.2.1.4 Frame rate
                               8.2.1.4.1 Less than 25 frames per second
                               8.2.1.4.2 25–125 frames per second
                               8.2.1.4.3 More than 125 frames per second
                                            TABLE 26 CAMERAS: MACHINE VISION HARDWARE MARKET, BY FRAME RATE, 2019–2022 (USD MILLION)
                                            TABLE 27 CAMERAS: MACHINE VISION HARDWARE MARKET, BY FRAME RATE, 2023–2028 (USD MILLION)
                    8.2.1.5 Format
                               8.2.1.5.1 Line scan
                               8.2.1.5.2 Area scan
                                            TABLE 28 CAMERAS: MACHINE VISION HARDWARE MARKET, BY FORMAT, 2019–2022 (USD MILLION)
                                            TABLE 29 CAMERAS: MACHINE VISION HARDWARE MARKET, BY FORMAT, 2023–2028 (USD MILLION)
                    8.2.1.6 Sensor
                               8.2.1.6.1 Complementary metal oxide semiconductor (CMOS)
                    8.2.1.7 Charged-coupled device (CCD)
           8.2.2 FRAME GRABBERS
                    8.2.2.1 Growing use of frame grabbers in large and fast machine vision systems
           8.2.3 OPTICS
                    8.2.3.1 Rising use in conjunction with camera body to capture images of objects
           8.2.4 LED LIGHTING
                    8.2.4.1 Growing demand for structured lighting
           8.2.5 PROCESSORS
                    8.2.5.1 High frame rate, high resolution, real-time video analytics, and increased complexity in vision algorithms
                    8.2.5.2 Field-programmable gate array (FPGA)
                    8.2.5.3 Digital signal processor (DSP)
                    8.2.5.4 Microcontroller and microprocessor
                    8.2.5.5 Vision processing unit
    8.3 SOFTWARE 
           TABLE 30 MACHINE VISION MARKET, BY SOFTWARE, 2019–2022 (USD MILLION)
           TABLE 31 MACHINE VISION MARKET, BY SOFTWARE, 2023–2028 (USD MILLION)
           8.3.1 TRADITIONAL SOFTWARE
                    8.3.1.1 Increasing use to process, analyze, and measure various characteristics of objects or products for decision-making
           8.3.2 DEEP LEARNING SOFTWARE
                    8.3.2.1 High flexibility to design and train customized deep neural networks
                    8.3.2.2 Convolutional neural networks
                    8.3.2.3 Recurrent neural networks
 
9 MACHINE VISION MARKET, BY PRODUCT (Page No. - 115)
    9.1 INTRODUCTION 
           FIGURE 43 MACHINE VISION MARKET, BY PRODUCT
           FIGURE 44 SMART CAMERA-BASED SEGMENT TO REGISTER HIGHER CAGR FROM 2023 TO 2028
           TABLE 32 MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
           TABLE 33 MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
    9.2 PC-BASED MACHINE VISION SYSTEM 
           9.2.1 HIGH PROCESSING POWER AND VERSATILITY WITH DIVERSE APPLICATIONS AND CAMERAS TO DRIVE DEMAND
    9.3 SMART CAMERA-BASED MACHINE VISION SYSTEM 
           9.3.1 GROWING USE OF SMART CAMERA-BASED MACHINE VISION SYSTEMS IN IMAGING AND SECURITY APPLICATIONS TO DRIVE MARKET
 
10 MACHINE VISION MARKET, BY INDUSTRY (Page No. - 119)
     10.1 INTRODUCTION 
             FIGURE 45 MACHINE VISION MARKET, BY INDUSTRY
             FIGURE 46 FOOD & PACKAGING SEGMENT TO HOLD LARGEST SHARE OF MACHINE VISION MARKET IN 2028
             TABLE 34 MACHINE VISION MARKET, BY INDUSTRY, 2019–2022 (USD MILLION)
             TABLE 35 MACHINE VISION MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)
     10.2 AUTOMOTIVE 
             10.2.1 RISING ADOPTION OF MACHINE VISION SYSTEMS TO IMPROVE PRECISION AND EFFICIENCY IN AUTOMOBILE MANUFACTURING
                         TABLE 36 AUTOMOTIVE: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 37 AUTOMOTIVE: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 38 AUTOMOTIVE: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 39 AUTOMOTIVE: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.3 ELECTRONICS & SEMICONDUCTORS 
             10.3.1 RISING USE OF MACHINE VISION SYSTEMS TO OPTIMIZE ELECTRONIC PRODUCTION BY DETECTING DEFECTS AND ENHANCE SEMICONDUCTOR FABRICATION
                         TABLE 40 ELECTRONICS & SEMICONDUCTORS: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 41 ELECTRONICS & SEMICONDUCTORS: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 42 ELECTRONICS & SEMICONDUCTORS: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 43 ELECTRONICS & SEMICONDUCTORS: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.4 CONSUMER ELECTRONICS 
             10.4.1 INCREASING DEMAND FOR MACHINE VISION SYSTEMS TO ENHANCE ELECTRONIC ASSEMBLY BY AUTOMATING INSPECTION
                         TABLE 44 CONSUMER ELECTRONICS: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 45 CONSUMER ELECTRONICS: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 46 CONSUMER ELECTRONICS: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 47 CONSUMER ELECTRONICS: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.5 GLASS 
             10.5.1 GROWING USE OF MACHINE VISION SYSTEMS TO OPTIMIZE ELECTRONICS PRODUCTION VIA AUTOMATED PRECISION INSPECTIONS
                         TABLE 48 GLASS: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 49 GLASS: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 50 GLASS: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 51 GLASS: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.6 METALS 
             10.6.1 INCREASING DEPLOYMENT OF MACHINE VISION SYSTEMS TO ENHANCE PRODUCT QUALITY USING 3D INSPECTION
                         TABLE 52 METALS: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 53 METALS: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 54 METALS: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 55 METALS: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.7 WOOD & PAPER 
             10.7.1 GROWING ADOPTION OF MACHINE VISION SYSTEMS TO OPTIMIZE PRODUCTION AND QUALITY CONTROL
                         TABLE 56 WOOD & PAPER: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 57 WOOD & PAPER: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 58 WOOD & PAPER: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 59 WOOD & PAPER: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.8 PHARMACEUTICALS 
             10.8.1 INCREASING DEMAND FOR MACHINE VISION SYSTEMS TO ENHANCE PRODUCT QUALITY AND ENSURE COMPLIANCE WITH INDUSTRY STANDARDS
                         TABLE 60 PHARMACEUTICALS: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 61 PHARMACEUTICALS: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 62 PHARMACEUTICALS: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 63 PHARMACEUTICALS: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.9 FOOD & PACKAGING 
             10.9.1 FOOD
                        10.9.1.1 Growing use of machine vision systems to enhance food processing and reduce labor cost
             10.9.2 PACKAGING
                        10.9.2.1 Rising adoption of machine vision systems to streamline packaging quality and efficiency
                                     TABLE 64 FOOD & PACKAGING: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                                     TABLE 65 FOOD & PACKAGING: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                                     TABLE 66 FOOD & PACKAGING: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                                     TABLE 67 FOOD & PACKAGING: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.1 RUBBER & PLASTICS 
             10.10.1 INCREASING USE OF MACHINE VISION SYSTEMS TO AUTOMATE INSPECTION AND ENHANCE EFFICIENCY OF VARIOUS PROCESSES
                         TABLE 68 RUBBER & PLASTICS: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 69 RUBBER & PLASTICS: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 70 RUBBER & PLASTICS: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 71 RUBBER & PLASTICS: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.11 PRINTING 
             10.11.1 RISING ADOPTION OF MACHINE VISION SYSTEMS TO ENSURE QUALITY IN PRINTING PROCESSES
                         TABLE 72 PRINTING: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 73 PRINTING: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 74 PRINTING: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 75 PRINTING: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.12 MACHINERY 
             10.12.1 INCREASING USE OF MACHINE VISION SYSTEMS TO COMPLETE PROCESSES RAPIDLY, DETECT DEFECTS, AND VALIDATE PRODUCT QUALITY
                         TABLE 76 MACHINERY: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 77 MACHINERY: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 78 MACHINERY: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 79 MACHINERY: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
     10.13 SOLAR PANEL MANUFACTURING 
             10.13.1 GROWING USE OF INDUSTRIAL MACHINE VISION-BASED INSPECTION TOOLS TO EXAMINE QUALITY OF SOLAR PANELS
                         TABLE 80 SOLAR PANEL MANUFACTURING: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 81 SOLAR PANEL MANUFACTURING: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 82 SOLAR PANEL MANUFACTURING: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 83 SOLAR PANEL MANUFACTURING: MACHINE VISION, BY PRODUCT, 2023–2028 (USD MILLION)
     10.14 TEXTILES 
             10.14.1 INCREASING DEPLOYMENT OF MACHINE VISION SYSTEMS TO LOWER OPERATIONAL COSTS, REDUCE WASTE, AND MAINTAIN SUSTAINABILITY
                         TABLE 84 TEXTILES: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 85 TEXTILES: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 86 TEXTILES: MACHINE VISION MARKET, BY PRODUCT, 2019–2022 (USD MILLION)
                         TABLE 87 TEXTILES: MACHINE VISION MARKET, BY PRODUCT, 2023–2028 (USD MILLION)
 
11 MACHINE VISION MARKET, BY REGION (Page No. - 144)
     11.1 INTRODUCTION 
             FIGURE 47 MACHINE VISION MARKET, BY REGION
             FIGURE 48 ASIA PACIFIC MACHINE VISION MARKET TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
             TABLE 88 MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
             TABLE 89 MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
     11.2 NORTH AMERICA 
             11.2.1 NORTH AMERICA: RECESSION IMPACT
                         FIGURE 49 NORTH AMERICA: MACHINE VISION MARKET SNAPSHOT
                         TABLE 90 NORTH AMERICA: MACHINE VISION MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                         TABLE 91 NORTH AMERICA: MACHINE VISION MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                         TABLE 92 NORTH AMERICA: MACHINE VISION MARKET, BY INDUSTRY, 2019–2022 (USD MILLION)
                         TABLE 93 NORTH AMERICA: MACHINE VISION MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)
             11.2.2 US
                        11.2.2.1 Rising demand in pharmaceuticals and automotive industries
             11.2.3 CANADA
                        11.2.3.1 Rising use in automotive, electronics, and healthcare industries to enhance efficiency, quality, and increase productivity
             11.2.4 MEXICO
                        11.2.4.1 Rising focus on maintaining high-quality standards and operational efficiency
     11.3 EUROPE 
             11.3.1 EUROPE: RECESSION IMPACT
                         FIGURE 50 EUROPE: MACHINE VISION MARKET SNAPSHOT
                         TABLE 94 EUROPE: MACHINE VISION MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                         TABLE 95 EUROPE: MACHINE VISION MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                         TABLE 96 EUROPE: MACHINE VISION MARKET, BY INDUSTRY, 2019–2022 (USD MILLION)
                         TABLE 97 EUROPE: MACHINE VISION MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)
             11.3.2 GERMANY
                        11.3.2.1 Growing use of machine vision systems to optimize operational efficiency and precision in industrial settings
             11.3.3 UK
                        11.3.3.1 Increasing adoption of machine vision technology in automotive and aerospace industries
             11.3.4 FRANCE
                        11.3.4.1 Expanding electric vehicle market and increasing demand for portable electronic products
                        11.3.4.2 Government-led initiatives for booting adoption of advanced manufacturing technologies
             11.3.5 SPAIN
                        11.3.5.1 Booming consumer electronics and pharmaceuticals industries
             11.3.6 REST OF EUROPE
     11.4 ASIA PACIFIC 
             11.4.1 ASIA PACIFIC: RECESSION IMPACT
                        FIGURE 51 ASIA PACIFIC: MACHINE VISION MARKET SNAPSHOT
                         TABLE 98 ASIA PACIFIC: MACHINE VISION MARKET, BY COUNTRY, 2019–2022 (USD MILLION)
                         TABLE 99 ASIA PACIFIC: MACHINE VISION MARKET, BY COUNTRY, 2023–2028 (USD MILLION)
                         TABLE 100 ASIA PACIFIC: MACHINE VISION MARKET, BY INDUSTRY, 2019–2022 (USD MILLION)
                         TABLE 101 ASIA PACIFIC: MACHINE VISION MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)
             11.4.2 CHINA
                        11.4.2.1 Growing adoption of machine vision systems to increase productivity and enhance product quality
             11.4.3 JAPAN
                        11.4.3.1 Rising adoption of machine vision systems by consumer electronics manufacturers
             11.4.4 SOUTH KOREA
                        11.4.4.1 Growing adoption of machine vision systems in various industries to meet stringent quality requirements
             11.4.5 INDIA
                        11.4.5.1 Government-led initiatives for boosting factory automation
             11.4.6 REST OF ASIA PACIFIC
     11.5 ROW 
             11.5.1 ROW: RECESSION IMPACT
                         FIGURE 52 MIDDLE EAST & AFRICA TO DOMINATE ROW MARKET DURING FORECAST PERIOD
                         TABLE 102 ROW: MACHINE VISION MARKET, BY REGION, 2019–2022 (USD MILLION)
                         TABLE 103 ROW: MACHINE VISION MARKET, BY REGION, 2023–2028 (USD MILLION)
                         TABLE 104 ROW: MACHINE VISION MARKET, BY INDUSTRY, 2019–2022 (USD MILLION)
                         TABLE 105 ROW: MACHINE VISION MARKET, BY INDUSTRY, 2023–2028 (USD MILLION)
             11.5.2 SOUTH AMERICA
                        11.5.2.1 Increasing demand for automated quality inspection
             11.5.3 GCC
                        11.5.3.1 Rising use of machine vision systems for automation, quality control, and process optimization in various industries
             11.5.4 AFRICA & REST OF MIDDLE EAST
                        11.5.4.1 Growing demand for machine vision systems to boost productivity and optimize operations
 
12 COMPETITIVE LANDSCAPE (Page No. - 167)
     12.1 OVERVIEW 
     12.2 KEY STRATEGIES ADOPTED BY MAJOR PLAYERS 
             TABLE 106 MACHINE VISION MARKET: OVERVIEW OF KEY STRATEGIES ADOPTED BY MAJOR PLAYERS
     12.3 REVENUE ANALYSIS, 2019–2022 
             FIGURE 53 MACHINE VISION MARKET: REVENUE ANALYSIS, 2019–2022
     12.4 MARKET SHARE ANALYSIS OF TOP FIVE PLAYERS, 2022 
             TABLE 107 MACHINE VISION MARKET: DEGREE OF COMPETITION
             FIGURE 54 MACHINE VISION MARKET SHARE ANALYSIS, 2022
     12.5 COMPANY EVALUATION MATRIX, 2022 
             12.5.1 STARS
             12.5.2 EMERGING LEADERS
             12.5.3 PERVASIVE PLAYERS
             12.5.4 PARTICIPANTS
                        FIGURE 55 MACHINE VISION MARKET: COMPANY EVALUATION MATRIX, 2022
     12.6 COMPANY FOOTPRINT 
             TABLE 108 PRODUCT: COMPANY FOOTPRINT
             TABLE 109 INDUSTRY: COMPANY FOOTPRINT
             TABLE 110 REGION: COMPANY FOOTPRINT
             TABLE 111 OVERALL COMPANY FOOTPRINT
     12.7 STARTUPS/SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX, 2022 
             12.7.1 PROGRESSIVE COMPANIES
             12.7.2 RESPONSIVE COMPANIES
             12.7.3 DYNAMIC COMPANIES
             12.7.4 STARTING BLOCKS
                        FIGURE 56 MACHINE VISION MARKET: STARTUPS/SMES EVALUATION MATRIX, 2022
     12.8 LIST OF KEY STARTUPS/SMES 
             TABLE 112 MACHINE VISION MARKET: LIST OF KEY STARTUPS/SMES
     12.9 COMPETITIVE BENCHMARKING 
             TABLE 113 MACHINE VISION MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     12.1 COMPETITIVE SCENARIOS AND TRENDS 
             12.10.1 PRODUCT LAUNCHES
                         TABLE 114 MACHINE VISION MARKET: PRODUCT LAUNCHES, 2021–2023
             12.10.2 DEALS
                         TABLE 115 MACHINE VISION MARKET: DEALS, 2021–2023
             12.10.3 OTHERS
                         TABLE 116 MACHINE VISION MARKET: OTHERS, 2021–2023
 
13 COMPANY PROFILES (Page No. - 192)
     13.1 KEY PLAYERS 
(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*  
             13.1.1 COGNEX CORPORATION
                        TABLE 117 COGNEX CORPORATION: COMPANY OVERVIEW
                        FIGURE 57 COGNEX CORPORATION: COMPANY SNAPSHOT
                        TABLE 118 COGNEX CORPORATION: PRODUCT OFFERINGS
                        TABLE 119 COGNEX CORPORATION: PRODUCT LAUNCHES
             13.1.2 BASLER AG
                        TABLE 120 BASLER AG: COMPANY OVERVIEW
                        FIGURE 58 BASLER AG: COMPANY SNAPSHOT
                        TABLE 121 BASLER AG: PRODUCT OFFERINGS
                        TABLE 122 BASLER AG: PRODUCT LAUNCHES
                        TABLE 123 BASLER AG: DEALS
             13.1.3 KEYENCE CORPORATION
                        TABLE 124 KEYENCE CORPORATION: COMPANY OVERVIEW
                        FIGURE 59 KEYENCE CORPORATION: COMPANY SNAPSHOT
                        TABLE 125 KEYENCE CORPORATION: PRODUCT OFFERINGS
                        TABLE 126 KEYENCE CORPORATION: PRODUCT LAUNCHES
             13.1.4 TELEDYNE TECHNOLOGIES
                        TABLE 127 TELEDYNE TECHNOLOGIES: COMPANY OVERVIEW
                        FIGURE 60 TELEDYNE TECHNOLOGIES: COMPANY SNAPSHOT
                        TABLE 128 TELEDYNE TECHNOLOGIES: PRODUCT OFFERINGS
                        TABLE 129 TELEDYNE TECHNOLOGIES: PRODUCT LAUNCHES
             13.1.5 TKH GROUP
                        TABLE 130 TKH GROUP: COMPANY OVERVIEW
                        FIGURE 61 TKH GROUP: COMPANY SNAPSHOT
                        TABLE 131 TKH GROUP: PRODUCT OFFERINGS
                        TABLE 132 TKH GROUP: PRODUCT LAUNCHES
                        TABLE 133 TKH GROUP: DEALS
             13.1.6 OMRON CORPORATION
                        TABLE 134 OMRON CORPORATION: COMPANY OVERVIEW
                        FIGURE 62 OMRON CORPORATION: COMPANY SNAPSHOT
                        TABLE 135 OMRON CORPORATION: PRODUCT OFFERINGS
                        TABLE 136 OMRON CORPORATION: PRODUCT LAUNCHES
                        TABLE 137 OMRON CORPORATION: DEALS
                        TABLE 138 OMRON CORPORATION: OTHERS
             13.1.7 NATIONAL INSTRUMENTS CORPORATION
                        TABLE 139 NATIONAL INSTRUMENTS CORPORATION: COMPANY OVERVIEW
                        FIGURE 63 NATIONAL INSTRUMENTS CORPORATION: COMPANY SNAPSHOT
                        TABLE 140 NATIONAL INSTRUMENTS CORPORATION: PRODUCT OFFERINGS
                        TABLE 141 NATIONAL INSTRUMENTS CORPORATION: PRODUCT LAUNCHES
                        TABLE 142 NATIONAL INSTRUMENTS CORPORATION: DEALS
                        TABLE 143 NATIONAL INSTRUMENTS CORPORATION: OTHERS
             13.1.8 SICK AG
                        TABLE 144 SICK AG: COMPANY OVERVIEW
                        FIGURE 64 SICK AG: COMPANY SNAPSHOT
                        TABLE 145 SICK AG: PRODUCT OFFERINGS
                        TABLE 146 SICK AG: PRODUCT LAUNCHES
                        TABLE 147 SICK AG: DEALS
             13.1.9 SONY CORPORATION
                        TABLE 148 SONY CORPORATION: COMPANY OVERVIEW
                        FIGURE 65 SONY CORPORATION: COMPANY SNAPSHOT
                        TABLE 149 SONY CORPORATION: PRODUCT OFFERINGS
                        TABLE 150 SONY CORPORATION: DEALS
             13.1.10 TEXAS INSTRUMENTS INCORPORATED
                        TABLE 151 TEXAS INSTRUMENTS INCORPORATED: COMPANY OVERVIEW
                        FIGURE 66 TEXAS INSTRUMENTS INCORPORATED: COMPANY SNAPSHOT
                        TABLE 152 TEXAS INSTRUMENTS INCORPORATED: PRODUCT OFFERINGS
                        TABLE 153 TEXAS INSTRUMENTS INCORPORATED: PRODUCT LAUNCHES
             13.1.11 INTEL CORPORATION
                        TABLE 154 INTEL CORPORATION: COMPANY OVERVIEW
                        FIGURE 67 INTEL CORPORATION: COMPANY SNAPSHOT
                        TABLE 155 INTEL CORPORATION: PRODUCT OFFERINGS
                        TABLE 156 INTEL CORPORATION: PRODUCT LAUNCHES
                        TABLE 157 INTEL CORPORATION: DEALS
             13.1.12 ATLAS COPCO
                        TABLE 158 ATLAS COPCO: COMPANY OVERVIEW
                        FIGURE 68 ATLAS COPCO AB: COMPANY SNAPSHOT
                        TABLE 159 ATLAS COPCO: PRODUCT OFFERINGS
                        TABLE 160 ATLAS COPCO: PRODUCT LAUNCHES
                        TABLE 161 ATLAS COPCO: DEALS
                        TABLE 162 ATLAS COPCO: OTHERS
             13.1.13 MICROSOFT
                        TABLE 163 MICROSOFT: COMPANY OVERVIEW
                        FIGURE 69 MICROSOFT: COMPANY SNAPSHOT
                        TABLE 164 MICROSOFT: PRODUCT OFFERINGS
                        TABLE 165 MICROSOFT: DEALS
     13.2 OTHER PLAYERS 
             13.2.1 AMETEK, INC.
             13.2.2 QUALITAS TECHNOLOGIES
             13.2.3 BAUMER
             13.2.4 ALGOLUX (TORC ROBOTICS)
             13.2.5 TORDIVEL AS
             13.2.6 INUITIVE
             13.2.7 MVTEC SOFTWARE GMBH
             13.2.8 JAI A/S
             13.2.9 INDUSTRIAL VISION SYSTEMS
             13.2.10 IVISYS
             13.2.11 USS VISION LLC
             13.2.12 OPTOTUNE
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.  
 
14 ADJACENT AND RELATED MARKETS (Page No. - 251)
     14.1 INTRODUCTION 
     14.2 LIMITATIONS 
     14.3 COLLABORATIVE ROBOT MARKET, BY COMPONENT 
             TABLE 166 COLLABORATIVE ROBOT (COBOT) MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
             TABLE 167 COLLABORATIVE ROBOT (COBOT) MARKET, BY COMPONENT, 2022–2028 (USD MILLION)
     14.4 HARDWARE 
             TABLE 168 HARDWARE: COLLABORATIVE ROBOT (COBOT) MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
             TABLE 169 HARDWARE: COLLABORATIVE ROBOT (COBOT) MARKET, BY COMPONENT, 2022–2028 (USD MILLION)
             14.4.1 ROBOTIC ARM
             14.4.2 END EFFECTOR OR END OF ARM TOOL (EOAT)
                        14.4.2.1 Welding guns
                                     TABLE 170 PLAYERS MANUFACTURING ROBOTIC WELDING GUNS
                        14.4.2.2 Grippers
                                     14.4.2.2.1 Pneumatic
                                     14.4.2.2.2 Electric
                                                    TABLE 171 PLAYERS MANUFACTURING ELECTRIC GRIPPERS
                                     14.4.2.2.3 Dexterous robotic hand
                                     14.4.2.2.4 Vacuum
                                     14.4.2.2.5 Magnetic
                                                    TABLE 172 PLAYERS MANUFACTURING MAGNETIC GRIPPERS
                        14.4.2.3 Robotic screwdrivers
                        14.4.2.4 Sanding and deburring tools
                        14.4.2.5 Others
             14.4.3 DRIVES
             14.4.4 CONTROLLERS
             14.4.5 SENSORS
             14.4.6 POWER SUPPLY
             14.4.7 MOTORS
             14.4.8 OTHERS
     14.5 SOFTWARE 
 
15 APPENDIX (Page No. - 264)
     15.1 INSIGHTS FROM INDUSTRY EXPERTS 
     15.2 DISCUSSION GUIDE 
     15.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     15.4 CUSTOMIZATION OPTIONS 
     15.5 RELATED REPORTS 
     15.6 AUTHOR DETAILS 
 

The study involves four significant activities for estimating the size of the Machine Vision market. Exhaustive secondary research has been conducted to collect information related to the market. The next step is to validate these findings and assumptions related to the market size with industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the overall size of the Machine Vision market. After that, market breakdown and data triangulation procedures were used to determine the extent of different segments and subsegments of the market.

Secondary Research

Secondary sources for this research study included corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers; certified publications, articles by recognized authors; directories; and databases. The secondary data has been collected and analyzed to determine the overall market size, further validated through primary research.

Primary Research

Extensive primary research has been conducted after gaining knowledge about the current scenario of the Machine Vision market through secondary research. Several primary interviews have been conducted with experts from the demand and supply sides across four major regions—North America, Europe, Asia Pacific, and RoW. This primary data has been collected through questionnaires, emails, and telephonic interviews.

Machine Vision Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

In the complete market engineering process, top-down and bottom-up approaches and several data triangulation methods have been implemented to estimate and validate the size of the Machine Vision market and other dependent submarkets listed in this report.

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The supply chain of the industry and the market size, in terms of value, have been determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Machine Vision Market: Top-Down Approach

  • In the top-down approach, the overall market size has been used to estimate the size of the individual markets (mentioned in the market segmentation) through percentage splits obtained from secondary and primary research.
  •  For calculating the Machine Vision market segments, the market size obtained by implementing the bottom-up approach has been used to implement the top-down approach, which was later confirmed with the primary respondents across different regions.
  • The bottom-up approach has also been implemented for the data extracted from secondary research to validate the market size of various segments.
  • Each company’s market share has been estimated to verify the revenue shares used earlier in the bottom-up approach. With the help of data triangulation and validation of data through primaries, the size of the overall Machine Vision and each market have been determined and confirmed in this study.

Machine Vision Market Size, and Top-Down Approach

Data Triangulation

After arriving at the overall market size, the total market has been split into several segments. The market breakdown and data triangulation procedures have been employed wherever applicable to complete the overall market engineering process and arrive at exact statistics for all segments. The data was then triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

Market Definition

Machine vision systems use a combination of hardware and software to provide operational guidance to devices in executing their functions. It uses sensors (cameras), processing hardware, and software algorithms to automate complex or mundane visual inspection tasks and precisely guide handling equipment during product assembly. The system relies on digital sensors installed in cameras with specialized optics to acquire images. These images are then processed, analyzed, and measured by artificial intelligence (AI) technology embedded in the computer hardware for decision-making. AI allows machines to learn from experience, intercept new inputs, and perform human-like tasks. Technologies such as machine learning and natural language processing (NLP), which are used to train computers, are also being used in machine vision to perform specific tasks by processing a large volume of data captured by cameras. Machine vision systems offer fast response, a tailored approach, accurate information, and fewer redundancies—all of which are essential to achieving higher efficiency in an organization. Machine vision systems encompass all industrial and nonindustrial applications; nevertheless, currently, it is highly used in industrial processes. The major players of Machine vision market includes Cognex Corporation (US), Basler AG (Germany), Omron Corporation (Japan), National Instrument Corporation (US), Keyence Corporation (Japan), Teledyne Technologies (US), Sick AG (Germany), TKH Group (Netherland), Sony Corporation (Japan), Texas Instruments Incorporated (US), Intel Corporation (US), Atlas Copco (Sweden), Microsoft (US).

Key Stakeholders

  • Original equipment manufacturers (OEMs)
  • Providers of technology solutions
  • Research institutes
  • Market research and consulting firms
  • Forums, alliances, and associations related to Machine Vision
  • Technology investors
  • Governments and financial institutions
  • Analysts and strategic business planners
  • Existing end users and prospective ones

Report Objectives:

  • To describe and forecast the Machine Vision market in terms of value based on Deployment, Component, Product, and Industry
  • To describe and forecast the Machine Vision market size in terms of value for four main regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the Machine Vision market
  • To provide a detailed overview of the supply chain of the ecosystem
  • To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market
  • To analyze the probable impact of the recession on the market in the future
  • To benchmark the market players using the proprietary company evaluation matrix framework, which analyzes the market players on various parameters within the broad categories of market ranking/share and product portfolio.
  • To analyze competitive developments such as acquisitions, product launches, partnerships, expansions, and collaborations undertaken in the Machine Vision market

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  • Detailed analysis and profiling of additional five market players
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