Machine Vision Market by Component (Hardware (Camera, Frame Grabber, Optics, Processor) and Software (Deep Learning and Application Specific)), Product (PC Based and Smart Camera Based), Application, End-User Industry - Global Forecasts to 2023

[168 Pages Report] The overall machine vision market was valued at USD 7.18 Billion in 2016 and is expected to reach USD 12.29 Billion by 2023, at a CAGR of 7.61% during the forecast period.

The years considered for the study are as follows:

• Base Year: 2016
• Estimated Year: 2017
• Projected Year: 2023
• Forecast Period: 2017 to 2023

The major objectives of the study are as follows:

• To define, describe, and forecast the machine vision market, in terms of value, segmented on the basis of component, product, application, end-user industry, and geography
• To define, describe, and forecast the machine vision market, in terms of volume, on the basis of camera component
• To forecast the market size, in terms of value, for various segments with regard to 4 main regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• To provide detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the machine vision market
• To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market
• To provide a detailed overview of the value chain pertaining to the machine vision market
• To analyze the opportunities in the market for various stakeholders by identifying the high-growth segments of the machine vision market
• To profile the key players and comprehensively analyze their market position in terms of the ranking and core competencies, and detail the competitive landscape for market leaders
• To analyze competitive developments such as partnerships, agreements & acquisitions, product launches and developments, and expansions, in the machine vision market

The research methodology used to estimate and forecast the machine vision market begins with capturing data on the revenue of key vendors through secondary research. The vendors’ offerings have also been taken into consideration to determine market segments. The bottom-up procedure has been employed to arrive at the overall size of the machine vision market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments that have been verified through primary research by conducting extensive interviews with key experts such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments. The breakdown of the profiles of primaries has been depicted in the following figure.

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

The machine vision ecosystem comprises machine vision manufacturers, along with R&D, component manufacturers, technology providers, integrators, and end users. The major companies operating in the machine vision market include Cognex (US), Basler (Germany), OMRON (Japan), KEYENCE Corporation (Japan), National Instruments (US), Sony (Japan), Teledyne Technologies (US), Texas Instruments (US), Intel (US), Baumer Optronic (Germany), Tordivel (Norway), ISRA VISION (Germany), MVTec Software (Germany), SICK (Germany), and JAI A/S (Denmark), among others.

Key Target Audience

• Semiconductor product designers and fabricators
• Developers of machine vision-related applications
• Providers of machine vision-related components and solutions
• Technology standard organizations, forums, alliances, and associations
• Technology investors
• Universities and research organizations
• Government bodies

The study answers several questions for the target audiences, primarily which market segments to focus on in the next 2 to 5 years for prioritizing efforts and investments.

Scope of the Report

In the research report, the machine vision market has been segmented on the basis of:

• Hardware
  • Camera
    • Sensor Type (CMOS and CCD)
    • Interface Standards (Camera Link, GigE Vision, USB 3.0, CoaXPress, and Others)
    • Frame Rate (Area Scan and Line Scan)
    • Format (25-125 fps, >125 fps, <25 fps)
  • Processor (FPGA, DSP, and Microcontroller and Microprocessor)
  • Optics
  • Frame Grabber
  • LED Lighting
  • Others
• Software
  • Deep Learning
  • Application Specific

By Product:

• PC-Based Vision System
• Smart Camera-Based Vision System

By Application:

• Quality Assurance and Inspection
• Positioning and Guidance
• Measurement
• Identification

By Vertical:

• Automotive
• Consumer Electronics
• Electronics & Semiconductor
• Printing
• Metals
• Wood & Paper
• Food & Packaging
• Rubber & Plastics
• Pharmaceuticals
• Glass
• Machinery
• Solar Panel Manufacturing

By Geography:

• North America
• Europe
• Asia Pacific (APAC)
• Rest of the World (RoW)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

• Product Matrix, which gives a detailed comparison of product portfolio of each company
• Company information: Detailed analysis and profiling of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Major Secondary Sources
                    2.1.1.2 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Primary Interviews With Experts
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Data From Primary Sources
           2.1.3 Secondary and Primary Research
                    2.1.3.1 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Share By Bottom-Up Analysis (Demand Side)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Global Machine Vision Market
    4.2 Machine Vision Market, By Application (2016–2023)
    4.3 Machine Vision Market in APAC, By Country and End User Industry
    4.4 Machine Vision Market, By Geography
    4.5 Market for Machine Vision Products, By Application

5 Market Overview (Page No. - 38)
    5.1 Introduction
    5.2 Market Evolution
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Need for Quality Inspection and Automation
                    5.3.1.2 Growing Demand for Vision-Guided Robotic Systems
                    5.3.1.3 Growing Demand for Application-Specific Machine Vision Systems
                    5.3.1.4 Increasing Adoption of 3D Machine Vision Systems
           5.3.2 Restraints
                    5.3.2.1 Varying End-User Requirements
                    5.3.2.2 Lack of Flexible Machine Vision Solutions
           5.3.3 Opportunities
                    5.3.3.1 Increasing Demand for Artificial Intelligence (AI) in Machine Vision
                    5.3.3.2 Advancements in Vision Technology and Industrial Expansion
                    5.3.3.3 Government Initiatives to Support Industrial Automation
                    5.3.3.4 Growing Adoption of Industrial 4.0
    5.4 Challenges
                    5.4.1.1 Complexity in Integrating Machine Vision Systems
                    5.4.1.2 Lack of User Awareness About Rapidly Changing Machine Vision Technology

6 Industry Trends (Page No. - 47)
    6.1 Industry and Technology Trends
    6.2 Value Chain Analysis
           6.2.1 R&D
           6.2.2 Machine Vision Component Manufacturers
           6.2.3 Original Equipment Manufacturers (OEMs)
           6.2.4 System Integrators
           6.2.5 Resellers and Distributors
           6.2.6 End Users

7 Machine Vision Market, By Component (Page No. - 50)
    7.1 Introduction
    7.2 Hardware
           7.2.1 Camera
                    7.2.1.1 Interface Standards
                               7.2.1.1.1 USB 2.0
                               7.2.1.1.2 USB 3.0
                               7.2.1.1.3 Camera Link
                               7.2.1.1.4 Camera Link HS
                               7.2.1.1.5 Gige
                               7.2.1.1.6 Others (Coaxpress, EMVA-1288, Genicam)
                    7.2.1.2 By Frame Rate
                               7.2.1.2.1 <25 FPS
                               7.2.1.2.2 25–125 FPS
                               7.2.1.2.3 More Than 125 FPS
                    7.2.1.3 By Format
                               7.2.1.3.1 Line Scan
                               7.2.1.3.2 Area Scan
                    7.2.1.4 By Sensor Type
                               7.2.1.4.1 CMOS
                               7.2.1.4.2 CCD
           7.2.2 Frame Grabber
           7.2.3 Optics
           7.2.4 LED Lighting
           7.2.5 Processor
                    7.2.5.1 FPGA
                    7.2.5.2 DSP
                    7.2.5.3 Microcontroller and Microprocessor
    7.3 Software
           7.3.1 Application Specific
           7.3.2 Deep Learning Software

8 Machine Vision Market, By Product (Page No. - 62)
    8.1 Introduction
    8.2 PC-Based Vision System
    8.3 Smart Cameras-Based Vision System

9 Machine Vision Market, By Application (Page No. - 82)
    9.1 Introduction
    9.2 Quality Assurance & Inspection
    9.3 Positioning & Guidance
    9.4 Measurement
    9.5 Identification

10 Machine Vision Market, By End-User Industry (Page No. - 87)
     10.1 Introduction
             10.1.1 Automotive
             10.1.2 Electronics and Semiconductor
             10.1.3 Consumer Electronics
             10.1.4 Glass
             10.1.5 Metals
             10.1.6 Wood and Paper
             10.1.7 Pharmaceutical
             10.1.8 Food and Packaging
                        10.1.8.1 Food
                        10.1.8.2 Packaging
             10.1.9 Rubber and Plastics
             10.1.10 Printing
             10.1.11 Machinery
             10.1.12 Solar Panel Manufacturing

11 Geographic Analysis (Page No. - 99)
     11.1 Introduction
     11.2 North America
             11.2.1 US
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Europe
             11.3.1 Germany
             11.3.2 UK
             11.3.3 France
             11.3.4 Italy
             11.3.5 Spain
             11.3.6 Rest of Europe (RoE)
     11.4 Asia Pacific (APAC)
             11.4.1 China
             11.4.2 Japan
             11.4.3 South Korea
             11.4.4 India
             11.4.5 Rest of APAC (RoAPAC)
     11.5 Rest of the World (RoW)
             11.5.1 South America
             11.5.2 Middle East
             11.5.3 Africa

12 Competitive Landscape (Page No. - 110)
     12.1 Overview
     12.2 Key Players in the Machine Vision Market
     12.3 Competitive Situations and Trends
             12.3.1 Product Launches and Developments
             12.3.2 Partnerships, Collaborations, and Agreements
             12.3.3 Mergers & Acquisitions
             12.3.4 Expansions

13 Company Profile (Page No. - 115)
     13.1 Cognex
             13.1.1 Business Overview
             13.1.2 Products Offered
             13.1.3 Recent Developments
             13.1.4 MnM View
             13.1.5 SWOT Analysis
     13.2 Basler
             13.2.1 Business Overview
             13.2.2 Products Offered
             13.2.3 Recent Developments
             13.2.4 MnM View
             13.2.5 SWOT Analysis
     13.3 Omron
             13.3.1 Business Overview
             13.3.2 Products Offered
             13.3.3 Recent Developments
             13.3.4 MnM View
             13.3.5 SWOT Analysis
     13.4 Keyence
             13.4.1 Business Overview
             13.4.2 Products Offered
             13.4.3 Recent Developments
             13.4.4 MnM View
             13.4.5 SWOT Analysis
     13.5 National Instruments
             13.5.1 Business Overview
             13.5.2 Products Offered
             13.5.3 Recent Developments
             13.5.4 MnM View
             13.5.5 SWOT Analysis
     13.6 Sony
             13.6.1 Business Overview
             13.6.2 Products Offered
             13.6.3 Recent Developments
             13.6.4 MnM View
     13.7 Teledyne Technologies
             13.7.1 Business Overview
             13.7.2 Products Offered
             13.7.3 Recent Developments
             13.7.4 MnM View
     13.8 Texas Instruments
             13.8.1 Business Overview
             13.8.2 Products Offered
             13.8.3 Recent Developments
             13.8.4 MnM View
     13.9 Intel
             13.9.1 Business Overview
             13.9.2 Products Offered
             13.9.3 Recent Developments
             13.9.4 MnM View
     13.1 Baumer Optronic
             13.10.1 Business Overview
             13.10.2 Products Offered
             13.10.3 Recent Developments
             13.10.4 MnM View
     13.11 Jai A/S
             13.11.1 Business Overview
             13.11.2 Products Offered
             13.11.3 Recent Developments
             13.11.4 MnM View
     13.12 Mvtec Software
             13.12.1 Business Overview
             13.12.2 Products Offered
             13.12.3 Recent Developments
             13.12.4 MnM View
     13.13 Isra Vision
             13.13.1 Business Overview
             13.13.2 Products Offered
             13.13.3 Recent Developments
             13.13.4 MnM View
     13.14 Sick
             13.14.1 Business Overview
             13.14.2 Products Offered
             13.14.3 Recent Developments
             13.14.4 MnM View
     13.15 Tordivel as
             13.15.1 Business Overview
             13.15.2 Products Offered
             13.15.3 Recent Developments
             13.15.4 MnM View
     13.16 Startup-Ecosystem
             13.16.1 Ametek
             13.16.2 Qualitas Technologies
             13.16.3 Sualab
             13.16.4 Algolux
             13.16.5 Clarifai

14 Appendix (Page No. - 156)
     14.1 Insights of Industry Experts
     14.2 Discussion Guide
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports
     14.7 Author Details

List of Tables (66 Tables)

Table 1 Machine Vision Market, By Component, 2014–2023 (USD Billion)
Table 2 Machine Vision Market, By Hardware, 2014–2023 (USD Million)
Table 3 Machine Vision Market for Cameras in Terms of Value and Volume, 2014–2023
Table 4 Machine Vision Market for Cameras, By Interface Standard, 2014–2023 (USD Million)
Table 5 Machine Vision Market for Cameras, By Frame Rate, 2014–2023 (USD Million)
Table 6 Machine Vision Market for Cameras, By Format, 2014–2023 (USD Million)
Table 7 Machine Vision Market for Cameras, By Sensor Type, 2014–2023 (USD Million)
Table 8 Machine Vision Market, By Processor, 2014–2023 (USD Million)
Table 9 Machine Vision Market, By Software, 2014–2023 (USD Million)
Table 10 Machine Vision Market, By Product, 2014–2023 (USD Billion)
Table 11 Market for PC-Based Machine Vision Systems , By Region, 2014–2023 (USD Million)
Table 12 Market for PC-Based Machine Vision Systems, By End-User Industry, 2014–2023 (USD Million)
Table 13 Market for PC-Based Machine Vision Systems for Automotive Industry, By Region, 2014–2023 (USD Million)
Table 14 Market for PC-Based Machine Vision Systems for Consumer Electronics Industry, By Region, 2014–2023 (USD Million)
Table 15 Market for PC-Based Machine Vision Systems for Electronics and Semiconductor Industry, By Region, 2014–2023 (USD Million)
Table 16 Market for PC-Based Machine Vision Systems for Printing Industry, By Region, 2014–2023 (USD Million)
Table 17 PC-Based Machine Vision Systems for Metals Industry, By Region, 2014–2023 (USD Million)
Table 18 Market for PC-Based Machine Vision Systems for Wood and Paper Industry, By Region, 2014–2023 (USD Million)
Table 19 Market for PC-Based Machine Vision Systems for Food and Packaging Industry, By Region, 2014–2023 (USD Million)
Table 20 Market for PC-Based Machine Vision Systems for Rubber and Plastics Industry, By Region, 2014–2023 (USD Million)
Table 21 Market for PC-Based Machine Vision Systems for Pharmaceuticals Industry, By Region, 2014–2023 (USD Million)
Table 22 Market for PC-Based Machine Vision Systems for Glass Industry, By Region, 2014–2023 (USD Million)
Table 23 Market for PC-Based Machine Vision Systems for Machinery Industry, By Region, 2014–2023 (USD Million)
Table 24 Market for PC-Based Machine Vision Systems for Solar Panel Manufacturing Industry, By Region, 2014–2023 (USD Million)
Table 25 Market for Smart Camera-Based Machine Vision Systems, By Region, 2014–2023 (USD Million)
Table 26 Market for Smart Camera-Based Machine Vision Systems, By End-User Industry, 2014–2023 (USD Million)
Table 27 Market for Smart Camera-Based Machine Vision Systems for Automotive Industry, By Region, 2014–2023 (USD Million)
Table 28 Market for Smart Camera-Based Machine Vision Systems for Consumer Electronics Industry, By Region, 2014–2023 (USD Million)
Table 29 Market for Smart Camera-Based Machine Vision Systems for Electronics and Semiconductor Industry, By Region, 2014–2023 (USD Million)
Table 30 Market for Smart Camera-Based Machine Vision Systems for Printing Industry, By Region, 2014–2023 (USD Million)
Table 31 Market for Smart Camera-Based Machine Vision Systems for Metals Industry, By Region, 2014–2023 (USD Million)
Table 32 Market Smart Camera-Based Machine Vision Systems for Wood and Paper Industry, By Region, 2014–2023 (USD Million)
Table 33 Market for Smart Camera-Based Machine Vision Systems for Food and Packaging Industry, By Region, 2014–2023 (USD Million)
Table 34 Market for Camera-Based Machine Vision Systems for Rubber and Plastics Industry, By Region, 2014–2023 (USD Million)
Table 35 Market for Smart Camera-Based Machine Vision Systems for Pharmaceuticals Industry, By Region, 2014–2023 (USD Million)
Table 36 Market for Smart Camera-Based Machine Vision Systems for Glass Industry, By Region, 2014–2023 (USD Million)
Table 37 Market for Smart Camera-Based Machine Vision Systems for Machinery Industry, By Region, 2014–2023 (USD Million)
Table 38 Market for Smart Camera-Based Machine Vision Systems for Solar Panel Manufacturing Industry, By Region, 2014–2023 (USD Million)
Table 39 Machine Vision Market, By Application, 2014–2023 (USD Billion)
Table 40 Machine Vision Market for Quality Assurance and Inspection Applications, By Product, 2014–2023 (USD Million)
Table 41 Machine Vision Market for Positioning and Guidance Applications, By Product, 2014–2023 (USD Million)
Table 42 Machine Vision Market for Measurement Applications, By Product, 2014–2023 (USD Million)
Table 43 Machine Vision Market for Identification Applications, By Product, 2014–2023 (USD Million)
Table 44 Machine Vision Market, By End-User Industry, 2014–2023 (USD Million)
Table 45 Machine Vision Market for Automotive Industry, By Region, 2014–2023 (USD Million)
Table 46 Machine Vision Market for Electronics and Semiconductor Industry, By Region, 2014–2023 (USD Million)
Table 47 Machine Vision Market for Consumer Electronics Industry, By Region, 2014–2023 (USD Million)
Table 48 Machine Vision Market for Glass Industry, By Region, 2014–2023 (USD Million)
Table 49 Machine Vision Market for Metal Industry, By Region, 2014–2023 (USD Million)
Table 50 Machine Vision Market for Wood and Paper Industry, By Region, 2014–2023 (USD Million)
Table 51 Machine Vision Market for Pharmaceuticals Industry, By Region, 2014–2023 (USD Million)
Table 52 Machine Vision Market for Food and Packaging Industry, By Region, 2014–2023 (USD Million)
Table 53 Machine Vision Market for Rubber and Plastics Industry, By Region, 2014–2023 (USD Million)
Table 54 Machine Vision Market for Printing Industry, By Region, 2014–2023 (USD Million)
Table 55 Machine Vision Market for Machinery Industry, By Region, 2014–2023 (USD Million)
Table 56 Machine Vision Market for Solar Panel Manufacturing Industry, By Region, 2014–2023 (USD Million)
Table 57 Machine Vision Market, By Region, 2014–2023 (USD Billion)
Table 58 Machine Vision Market in North America, By Country, 2014–2023 (USD Million)
Table 59 Machine Vision Market in Europe, By Country/Region, 2014–2023 (USD Million)
Table 60 Machine Vision Market in APAC, By Country/Region, 2014–2023 (USD Million)
Table 61 Machine Vision Market in RoW, By Region, 2014–2023 (USD Million)
Table 62 Top 5 Players in the Machine Vision Market, 2016
Table 63 Product Launches and Developments (2015–2017)
Table 64 Partnerships, Collaborations, and Agreements (2014–2016)
Table 65 Mergers & Acquisitions (2016–2017)
Table 66 Expansions (2014–2016)

List of Figures (52 Figures)

Figure 1 Market Segmentation
Figure 2 Machine Vision Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Assumptions for Research Study
Figure 7 Machine Vision Market (2016–2023)
Figure 8 Cameras Expected to Hold the Largest Market Size in 2023 of the Global Machine Vision Market
Figure 9 Machine Vision Market for Identification Applications to Grow at the Highest Rate Between 2017 and 2023
Figure 10 Machine Vision Market for Food and Packaging Industry to Grow at the Highest Rate Between 2017 and 2023
Figure 11 APAC to Hold the Largest Share of the Machine Vision Market in 2017
Figure 12 Machine Vision Market to Grow at A Significant Rate Between 2017 and 2023 Owing to the Increasing Adoption of Industrial 4.0 and AI-Integrated Machine Vision Systems
Figure 13 Machine Vision Market for Identification Applications to Grow at the Highest Rate Between 2017 and 2023
Figure 14 Automotive Industry Held the Largest Share of the Machine Vision Market in APAC in 2016
Figure 15 Machine Vision Market in APAC to Grow at the Highest Rate During the Forecast Period
Figure 16 PC-Based Machine Vision Systems Held A Larger Share of the Market for Quality Assurance and Inspection Applications in 2016
Figure 17 Evolution of Machine Vision Technology
Figure 18 Increasing Adoption of 3D Machine Vision Systems to Drive the Growth of the Machine Vision Market
Figure 19 Growth of Industrial Robotics, in Terms of Shipment, Between 2012 and 2016
Figure 20 Global Industrial Artificial Intelligence Market (2016–2023)
Figure 21 Industry 4.0 Market, By Region, 2016-2022 (USD Billion)
Figure 22 Machine Vision Market Trends
Figure 23 Value Chain Analysis: Maximum Value Added During the Component and Equipment Manufacturing and System Integration Stages
Figure 24 Machine Vision Market for Software Component Expected to Grow at A Higher Rate During the Forecast Period
Figure 25 Machine Vision Market for Cameras Based on Area Scan Format to Grow at A Higher CAGR During the Forecast Period
Figure 26 Smart Camera Based Machine Vision Solutions Expected to Grow at A Higher Rate During 2017-2023
Figure 27 APAC Expected to Hold the Largest Share of the Market for Industrial PC-Based Machine Vision Products for Automotive Industry During the Forecast Period
Figure 28 Market for PC-Based Machine Vision Systems for Food and Packaging Industry in APAC to Grow at the Highest CAGR During the Forecast Period
Figure 29 Market for Smart Camera-Based Machine Vision Systems in APAC Expected to Grow at the Highest CAGR During the Forecast Period
Figure 30 Market for Smart Camera-Based Machine Vision Systems in APAC for Printing Industry Expected to Grow at the Highest CAGR During the Forecast Period
Figure 31 Automotive End-User Industry Held the Largest Size of the Machine Vision Market in 2016
Figure 32 Machine Vision Market Pharmaceuticals Industry in APAC to Grow at the Highest CAGR During the Forecasted Period
Figure 33 Geographic Snapshot of the Global Machine Vision Market (2017–2023)
Figure 34 Snapshot of the Machine Vision Market in North America
Figure 35 Snapshot of the Machine Vision Market in APAC
Figure 36 Product Launches and Developments Emerged as the Key Growth Strategies Adopted By the Companies Between 2014 and 2017
Figure 37 Cognex: Company Snapshot
Figure 38 Cognex: SWOT Analysis
Figure 39 Basler: Company Snapshot
Figure 40 Basler: SWOT Analysis
Figure 41 Omron: Company Snapshot
Figure 42 Omron: SWOT Analysis
Figure 43 Keyence: Company Snapshot
Figure 44 Keyence: SWOT Analysis
Figure 45 National Instruments: Company Snapshot
Figure 46 National Instruments: SWOT Analysis
Figure 47 Sony: Company Snapshot
Figure 48 Teledyne Technologies: Company Snapshot
Figure 49 Texas Instruments: Company Snapshot
Figure 50 Intel: Company Snapshot
Figure 51 Isra Vision: Company Snapshot
Figure 52 Sick: Company Snapshot

The overall machine vision market was valued at USD 7.91 Billion in 2017 and is expected to reach USD 12.29 Billion by 2023, at a CAGR of 7.61% between 2017 and 2023. The growth of this market can be attributed to the increasing need for quality inspection and automation, growing demand for AI and IoT integrated machine vision systems, increasing adoption of Industrial 4.0, development of new connected technologies, and government initiatives to support smart factories, among others. Governments of different countries worldwide are encouraging investments in manufacturing, which is necessitating the use of various automation products for structural development.

The machine vision market for software components is expected to grow at a high rate between 2017 and 2023. The integration of AI in machine vision software is expected to fuel the growth of the machine vision market for software during the forecast period as deep learning enables machines to recognize objects. Also, deep learning-based machine vision software helps in minimizing human intervention and provides a real-time solution by distinguishing the acceptable variations in products and the defects in manufacturing industries.

PC-based machine vision systems are expected to hold a major share of the machine vision market during the forecast period. This is because PC-based machine vision systems are the oldest form of machine vision systems, and these systems are simple to handle and have faster processing power units compared with smart camera-based machine vision systems. However, these systems are suitable for use in applications wherein space is not an issue. Though smart camera-based systems have several advantages over PC-based systems, PC-based machine vision systems hold a major share of the market. However, this trend is expected to change with the advancements in smart camera technology and IoT, which can be easily be integrated with smart cameras, and the penetration of the smart camera-based machine vision systems is likely to increase in the next few years.

Among all the end-user industries, the market for the food and packaging industry is expected to grow at the highest rate between 2017 and 2023. The food industry provides several opportunities for the machine vision market, and several companies have responded by developing application-specific solutions in the areas of grading, sorting, portioning, processing, and quality checking during processing and packaging.

APAC held the largest share of the machine vision market in 2016. The market in APAC is expected to grow at a high rate between 2017 and 2023. The increase in demand for automotive, electronics and semiconductor, pharmaceutical, and consumer electronic products in China is driving the growth of the machine vision market in this region. The ongoing large-scale developments in emerging economies in this region owing to the use of advanced technologies for manufacturing is also contributing toward the growth of the machine vision market in APAC. Countries such as Japan, India, South Korea, and China are mainly driving the growth of the market for machine vision systems in APAC.

Factors that are restraining the growth of the machine vision market include the changing requirements of end users with respect to machine vision applications and lack of flexible machine vision solutions.

The key players operating in the studied market include Cognex (US), Basler (Germany), OMRON (Japan), KEYENCE Corporation (Japan), National Instruments (US), Sony (Japan), Teledyne Technologies (US), Texas Instruments (US), Intel (US), Baumer Optronic (Germany), Tordivel (Norway), ISRA VISION (Germany), MVTec Software (Germany), SICK (Germany), and JAI A/S (Denmark).

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