Teledyne Technologies, Inc. (U.S.), Texas Instruments, Inc. (U.S.), Allied Vision Technologies GmbH (Germany), Intel Corporation (U.S.), Baumer Optronic GmbH (Germany), and JAI A/S (Denmark), among others. in the Machine Vision Market
The overall machine vision market was valued at USD 8.12 Billion in 2015 and is expected to reach USD 14.43 Billion by 2022, growing at a CAGR of 8.15% between 2016 and 2022. The growth of this market is driven by the increasing need for quality inspection and automation across industry verticals, surge in demand for vision-guided robotic systems in automotive, pharmaceutical, food and packaging, and industrial sectors, and growing demand for application-specific machine vision systems
The competition in the machine vision market is high because of the presence of a large number of players. Some of the key players in the machine vision market are Cognex Corporation (U.S.), Basler AG (Germany), Omron Corporation (Japan), National Instruments Corporation (U.S.), Keyence Corporation (Japan), Sony Corporation (Japan), Teledyne Technologies, Inc. (U.S.), Texas Instruments, Inc. (U.S.), Allied Vision Technologies GmbH (Germany), Intel Corporation (U.S.), Baumer Optronic GmbH (Germany), and JAI A/S (Denmark), among others.
Cognex Corporation was incorporated in 1981 and has its headquarters in Massachusetts, U.S. As of December 31, 2015, the company had 1,305 employees. In the same year, Cognex generated ~44% of its revenue from Europe and ~27% from the U.S. All the products offered by the company are utilized in a variety of sectors including logistics, medical, solar PV cells, food and beverages, semiconductor and electronics, vision-guided robotics, and consumer packaging. New product development was the major strategy adopted by Cognex between 2014 and 2016. For instance, in January 2016, Cognex launched In-Sight Micro 8000 series smart cameras, a new family of ultracompact, standalone vision systems that deliver industry-leading vision tool performance at PC speeds.
orp. is engaged in the development, manufacturing, and sale of factory automation and control equipment, measurement instruments, information devices, and other electronic application equipment and systems. The company is a leading supplier of sensors, measuring systems, laser markers, and machine vision systems worldwide. As of December 2015, the company had 5,000 employees. The strong position of the company in various markets provides it a competitive advantage. The company operates in all the geographic regions. New product development was the major strategy adopted by Keyence between 2013 and 2016. For instance, in September 2016, Keyence launched CV-X series of intuitive vision systems which are loaded with powerful features that support global standards in machine vision inspection.
Related Reports:
Machine Vision Market by Component (Hardware (Camera, Frame Grabber, Optics, Processor) and Software (Deep Learning and Application Specific)), Product (PC Systems and Smart Camera Systems), Application, Vertical, and Geography - Global Forecast to 2022
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