Machine Vision Market

Machine Vision Market by Component (Hardware (Camera, Frame Grabber, Optics, Processor), Software (Deep Learning and Traditional software)), Product (PC Based and Smart Camera Based), Application, End-User Industry - Global Forecasts to 2024

Report Code: SE 5835 Dec, 2019, by marketsandmarkets.com
Updated date -

MarketsandMarkets forecasts the global machine vision market size is expected to reach USD 14,000 million by 2024 from USD 9,931 million in 2019—at a CAGR of 7.1% during 2019–2024. The recent advancements in imaging technology such as deep learning software, liquid lens, vision processing unit, 360-degree camera, hyperspectral imaging, and hybrid image sensor and the growing demand for artificial intelligence play a significant role in the growth of the market. The objective of the report is to define, describe, and forecast the market size based on component, product, application, end-use industry and region.

Industrial Machine Vision Market

machine vision market, Smart Camera based machine vision system to grow at a highest CAGR during forecast period

The penetration of smart camera-based machine vision systems is likely to increase in the forecasted period. Smart cameras are designed with open embedded processing technology which eliminates certain peripheral devices. They are cost-effective, compact, and flexible. Currently, PC-based machine vision systems dominate the market, but this trend is expected to change with the advancements in smart camera technology and IoT, which can be easily integrated with smart cameras.

Automotive and Food and packaging vertical expected to grow with highest growth rate from 2019 to 2024

Automotive and Food and Packaging is expected to grow at the highest rate during the forecast period. Machine vision systems ensure error-free assembly by inspecting closure panels such as doors, hoods, lift gates, and tailgates, among other components. These systems help gauge the presence as well as diameters of the bearings to ensure that all systems are in place and there is no damage. The customized point & click interface of machine vision technology makes it easy for system operators to carry out quality inspection and requires minimal labor training. 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.

Industrial Machine Vision Market

Machine Vision Market in APAC to grow at the highest CAGR during the forecast period

The machine vision market in APAC is expected to grow at the highest CAGR during the forecast period. APAC is expected to provide ample growth opportunities for the market since it is considered a manufacturing hub for most industries. China is an ideal destination for production units of various industries, including electronics and automotive. The market in China is expected to witness a higher growth than in other APAC countries owing to the increasing demand for automation in the country. In addition, the labor cost in China is increasing year on year. Therefore, companies based in China are focusing on using automation systems to reduce production costs. These factors are driving the growth of the machine vision market in China.

Market Dynamics : Machine Vision Market

Driver: Growing demand for vision-guided robotic system

In the recent past, the adoption of vision-guided robotic systems has seen a significant increase in the machine vision market. There has been a rapid growth in the use of industrial robots for automation in the automotive and consumer electronics sectors. This has led to an increased need for the integration of machine vision systems with vision-guided robot controllers. A machine vision system enhances a robot’s efficiency in terms of viewing and responding to its environment. For instance, when different car models are being assembled on a single production line, the vision-guided robotic systems identify the given situation and help in proper assembling of vehicles. If a robot is applying adhesive beading, a machine vision system ensures that there are no gaps in it. The vision-guided robot is capable of working along with humans in a shared workspace, even without a protective fence as it safely avoids any collision.

Machine Vision Market Restraint : Lack of flexible machine vision solutions

In the modern manufacturing environment, the economy of scope is becoming as important as the economy of scale. This implies that companies are striving to produce a variety of products using a flexible manufacturing system while maintaining high-level quality. Owing to this, there is a need to extend the role of machine vision beyond inspection to a key controlling element in closed-loop industrial processes. Such integration allows flexible control of the production line, using defect information to locate fault sources and enabling automatic feedback for adjustment and correction, as well as monitoring overall efficiency.

As automation is prevalent in every aspect of the industrial application, there is a need to develop new products to match the varying demands. The machine vision industry has to be modernized to achieve higher efficiency and quality. For this, many companies producing machine vision systems are focused on products which offer higher precision and speed image acquisition. The majority of machine vision systems at present combines two to three applications on a single assembly line. However, with the integration of AI into machine vision, the effortless use of AI-based machine vision system can be expected for the inspection of different products that are being assembled on the same assembly line.

Machine Vision Market Opportunity : Increasing demand for AI in machine vision

The manufacturing industry is witnessing a new wave of technological revolution, which is boosting the adoption of AI in manufacturing and non-manufacturing applications. AI-based solutions are adopted in manufacturing facilities to improve productivity by maximizing asset utilization, minimizing downtime, and improving machine efficiency. AI is also expected to enhance productivity through quality control by detecting defects and helping in the predictive maintenance of factory machinery. AI-based systems are capable of observing and learning from the past, acting in the present, and anticipating the future. This has led to numerous advancements on the software side of AI through the development of new and highly effective algorithms, which are capable of learning and reacting to human reactions to increase the productivity of an entire production system. Traditional machine vision systems cannot evaluate complex objects or products with high variations as easily as human operators. However, an AI-based machine vision system is capable of finding and comparing defects with high variability effortlessly. AI-based quality control applications rely on three-dimensional (3D) and two-dimensional (2D) data from machine vision systems; the data is then processed using deep learning software.

Machine Vision Market Challenge : Complexity in integrating machine vision systems

There is a need to simplify the integration process of multiple tasks using multipurpose components, not only in machine vision but also in production lines at application sites. With increasing efforts being made for the convenience of installing and handling systems in industries, machine vision industry players should focus on addressing this need for convenience by coming up with plug-and-play solutions.

Leading companies in the market are introducing open computing standards, such as Peripheral Component Interconnect (PCI) bus 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.

Industrial Machine Vision Market

Scope of the Report:

Report Metric

Details

Market size available for years

2016–2024

Base year

2018

Forecast period

2019–2024

Units

Value, USD

Segments covered

Component, product, application, end-use industry, and geography

Geographic regions covered

North America, APAC, Europe, and RoW

Companies covered

Cognex Corporation (US), Basler AG (Germany), Omron Corporation (Japan), Keyence Corporation (Japan), National Instruments (US), Sony Corporation (Japan), Teledyne Technologies, Inc. (US); Total 23 ecosystem players have been covered.

This report categorizes the market based on component, product, application, end-use industry, and geography.

On the basis of component, the market has been segmented as follows:

  • Hardware
    • Cameras
      • Frame Rates
      • Formats
      • Standards
      • Sensors
    • Frame Grabbers
    • Optics
    • LED Lighting
    • Processors
      • FPGA
      • DSP
      • Microcontrollers & Microprocessors
      • VPU
    • Others (Interfaces, Cables, and Communication Accessories)
  • Software
    • Traditional Software
    • Deep Learning Software

On the basis of product, the machine vision market has been segmented as follows:

  • PC-based
  • Smart Camera-based

On the basis of application, the market has been segmented as follows:

  • Quality Assurance & Inspection
  • Positioning & Guidance
  • Measurement
  • Identification
  • Predictive Maintenance

On the basis of end-use industry, the machine vision market has been segmented as follows:

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

On the basis of region, the market has been segmented as follows:

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

Key Market Players

The key players in the machine vision  market are Cognex Corporation (US), Basler AG (Germany), Omron Corporation (Japan), Keyence Corporation (Japan), National Instruments (US), Sony Corporation (Japan), Teledyne Technologies, Inc. (US), Allied Vision Technologies GmbH (Germany), Texas Instruments, Inc. (US), Intel Corporation(US).

Cognex is a leading provider of machine vision systems, software, sensors, surface inspection systems, and industrial ID readers for automation processes. The company serves the logistics, medical, solar PV cells, food & beverages, semiconductor, electronics, vision-guided robotics, and consumer packaging sectors. The company has a presence in the US, Europe, and Greater China, among others.

Recent Developments

  • In July 2018, Basler strengthened its position in the Chinese market by joining forces with Beijing Sanbao Xingye (MVLZ) Image Tech. Co., Ltd., a leading Chinese distributor of image processing components.
  • In April 2018, OMRON and Cisco Systems G.K. collaborated wherein Cisco's leading networking and security technology is integrated into OMRON’s Programmable Logic Controllers (PLCs).
  • In November 2018, OMRON and Cisco Systems G.K. collaborated wherein Cisco's leading networking and security technology is integrated into OMRON’s Programmable Logic Controllers (PLCs).

Critical Questions the Report Answers:

  • Where will all these developments take the industry in the mid-to-long term?
  • What are the upcoming industrial trends in the market?
  • What are the opportunities for various players that exist at present and are planning to enter at various stages of the value chain?
  • How inorganic growth strategies implemented by key players will impact the growth rate of the market, and who will have the undue advantage?
  • What is the current investment trends in the market?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 23)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
                    Figure 1 Machine Vision Market Segmentation
           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. - 27)
    2.1 Introduction
            Figure 2 Market: Research Design
           2.1.1 Secondary and Primary Research
                    2.1.1.1 Key Industry Insights
           2.1.2 Secondary Data
                    2.1.2.1 Major Secondary Sources
                    2.1.2.2 Key Data From Secondary Sources
           2.1.3 Primary Data
                    2.1.3.1 Primary Interviews With Experts
                    2.1.3.2 Breakdown of Primaries
                    2.1.3.3 Key Data From Primary Sources
    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)
                                Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply Side)
                                Figure 4 Market Size Estimation Methodology: Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
            Figure 5 Data Triangulation
    2.4 Research Assumptions
            Table 1 Assumptions for Research Study

3 Executive Summary (Page No. - 37)
       Figure 6 Cameras Expected to be the Largest Machine Vision Hardware Component Market Throughout the Forecast Period
       Figure 7 Market for Predictive Maintenance Expected to Grow at the Highest Rate Between 2019 and 2024
       Figure 8 Market in Food & Packaging Industry Expected to Grow at the Highest Rate During the Forecast Period
       Figure 9 APAC Accounted for the Largest Share of the Market in 2018

4 Premium Insights (Page No. - 42)
    4.1 Market, 2015–2024 (USD Million)
            Figure 10 Increasing Demand for Machine Vision in Food & Packaging is Driving the Market Growth
    4.2 Market, By Product
            Figure 11 Smart Camera-Based Machine Vision System to Grow at a Higher CAGR Than PC-Based Systems During the Forecast Period
    4.3 Market in APAC, By End-Use Industry and Country
            Figure 12 China Estimated to Account for the Largest Share of the Market in APAC in 2019
    4.4 Market, By Region
            Figure 13 APAC Estimated to Account for the Largest Share of the Market in 2019
    4.5 Market, By Application
            Figure 14 Market for Predictive Maintenance Expected to Grow at the Highest CAGR During the Forecast Period

5 Market Overview (Page No. - 45)
    5.1 Introduction
    5.2 Market Dynamics
            Figure 15 Increasing Manufacturing of Hybrid and Electric Cars to Drive the Growth of the Market
           5.2.1 Drivers
                    5.2.1.1 Increasing Need for Quality Inspection and Automation
                    5.2.1.2 Growing Demand for Vision-Guided Robotic Systems
                                Figure 16 Shipment of Industrial Robots, 2012 to 2018
                    5.2.1.3 Increasing Adoption of 3D Machine Vision Systems
                    5.2.1.4 Increase in Manufacturing of Hybrid and Electric Cars
                                Figure 17 Increasing Demand for Hybrid and Electric Vehicles Between 2020 and 2040
           5.2.2 Restraints
                    5.2.2.1 Varying End-User Requirements
                    5.2.2.2 Lack of Flexible Machine Vision Solutions
           5.2.3 Opportunities
                    5.2.3.1 Government Initiatives to Support Industrial Automation
                    5.2.3.2 Increasing Demand for AI in Machine Vision
                               5.2.3.2.1 Government Initiatives to Boost AI-Related Technologies
                    5.2.3.3 Growing Adoption of Industry 4.0
                    5.2.3.4 Need for Miniaturization of Cameras and Processors
                    5.2.3.5 Rising Need for Asics
           5.2.4 Challenges
                    5.2.4.1 Complexity in Integrating Machine Vision Systems
                    5.2.4.2 Lack of User Awareness About Rapidly Changing Machine Vision Technology
    5.3 Value Chain Analysis
            Figure 18 Value Chain Analysis: Maximum Value Added During the Component and Equipment Manufacturing and System Integration Stages
           5.3.1 R&D
           5.3.2 Machine Vision Component Manufacturers
           5.3.3 Original Equipment Manufacturers (OEMs)
           5.3.4 System Integrators
           5.3.5 Resellers and Distributors
           5.3.6 End Users

6 Machine Vision Market, By Component (Page No. - 55)
    6.1 Introduction
            Figure 19 Software Component Expected to Grow at a Higher Rate During the Forecast Period
            Table 2 Market, By Component, 2015–2024 (USD Billion)
    6.2 Hardware
            Table 3 Market, By Hardware, 2015–2024 (USD Million)
           6.2.1 Cameras
                     Table 4 Market for Cameras in Terms of Value and Volume, 2015–2024
                     Table 5 Market, By Type, 2015–2024 (USD Million)
                     Table 6 Market for Cameras, By Type, 2015–2024 (Million Units)
                    6.2.1.1 Interface Standards
                               6.2.1.1.1 USB 2.0/USB 3.0
                               6.2.1.1.2 Camera Link
                               6.2.1.1.3 Gige
                               6.2.1.1.4 Coaxpress
                               6.2.1.1.5 Others (EMVA-1288, Firewire, Genicam)
                     Table 7 Market for Cameras, By Interface Standard, 2015–2024 (USD Million)
                    6.2.1.2 By Frame Rate
                               6.2.1.2.1 <25 FPS
                               6.2.1.2.2 25–125 FPS
                               6.2.1.2.3 More Than 125 FPS
                     Table 8 Market for Cameras, By Frame Rate, 2015–2024 (USD Million)
                    6.2.1.3 By Format
                               6.2.1.3.1 Line Scan
                               6.2.1.3.2 Area Scan
                     Table 9 Market for Cameras, By Format, 2015–2024 (USD Million)
                    6.2.1.4 By Sensor Type
                               6.2.1.4.1 CMOS
                               6.2.1.4.2 CCD
                                             Table 10 Market for Cameras, By Sensor Type, 2015–2024 (USD Million)
           6.2.2 Frame Grabbers
                    6.2.2.1 Frame Grabbers are Mainly Used for Capturing High-Resolution Images
           6.2.3 Optics
                    6.2.3.1 There is Growing Popularity of 360-Degree Optics and Liquid Lens in Machine Vision
           6.2.4 LED Lighting
                    6.2.4.1 LED Lighting Conditions Enhanced the Image Quality in Such a Way That Some Features Can Get Negated, While Others Get Enriched.
           6.2.5 Processors
                    6.2.5.1 FPGA
                               6.2.5.1.1 an FPGA Consists of an Array of Programmable Logic Blocks, Which Can be Configured to Design Desired Logic.
                    6.2.5.2 DSP
                               6.2.5.2.1 DSPs Have a Specially Designed Architecture, Which Helps in Fetching Multiple Data and Instructions at the Same Time
                    6.2.5.3 Microcontrollers and Microprocessors
                               6.2.5.3.1 Microcontrollers and Microprocessors are Specifically Designed for Real-Time Applications.
                    6.2.5.4 VPU
                               6.2.5.4.1 VPU is a Type of AI Accelerator to Fulfill the Growing Need for Faster Processing in Vision-Related Applications.
                                             Table 11 Market, By Processor, 2015–2024 (USD Million)
    6.3 Software
             Table 12 Market, By Software, 2015–2024 (USD Million)
           6.3.1 Traditional Software
                    6.3.1.1 Traditional Software Provides a Framework to Develop and Deploy Machine Vision Applications
           6.3.2 Deep Learning Software
                    6.3.2.1 Deep Learning Frameworks Offer Great Flexibility to Program Developers Owing to Their Ability to Design and Train Customized Deep Neural Networks

7 Machine Vision Market, By Product (Page No. - 68)
    7.1 Introduction
            Figure 20 Smart Camera-Based Machine Vision Systems Expected to Grow at a Higher Rate Than PC-Based Between 2019 and 2024
            Table 13 Market, By Product, 2015–2024 (USD Billion)
    7.2 PC-Based Machine Vision Systems
           7.2.1 PC-Based Machine Vision Systems Have the Ability to Compensate for Unexpected Variations in Certain Tasks.
                      Table 14 PC-Based Machine Vision Systems Market, By Region, 2015–2024 (USD Million)
                      Table 15 PC-Based Machine Vision Systems Market, By End-Use Industry, 2015–2024 (USD Million)
                      Table 16 PC-Based Machine Vision Systems Market in Automotive Industry, By Region, 2015–2024 (USD Million)
                      Table 17 PC-Based Machine Vision Systems Market in Consumer Electronics Industry, By Region, 2015–2024 (USD Million)
                      Table 18 PC-Based Machine Vision Systems Market in Electronics & Semiconductor Industry, By Region, 2015–2024 (USD Million)
                      Table 19 PC-Based Machine Vision Systems Market in Printing Industry, By Region, 2015–2024 (USD Million)
                      Table 20 PC-Based Machine Vision Systems Market in Metals Industry, By Region, 2015–2024 (USD Million)
                      Table 21 PC-Based Machine Vision Systems Market in Wood & Paper Industry, By Region, 2015–2024 (USD Million)
                      Table 22 PC-Based Machine Vision Systems Market in Food & Packaging Industry, By Region, 2015–2024 (USD Million)
                      Table 23 PC-Based Machine Vision Systems Market in Rubber & Plastics Industry, By Region, 2015–2024 (USD Million)
                      Table 24 PC-Based Machine Vision Systems Market in Pharmaceuticals Industry, By Region, 2015–2024 (USD Million)
                      Table 25 PC-Based Machine Vision Systems Market in Glass Industry, By Region, 2015–2024 (USD Million)
                      Table 26 PC-Based Machine Vision Systems Market in Machinery Industry, By Region, 2015–2024 (USD Million)
                      Table 27 PC-Based Machine Vision Systems Market in Solar Panel Manufacturing Industry, By Region, 2015–2024 (USD Million)
                      Table 28 PC-Based Machine Vision Systems Market in Textile Manufacturing Industry, By Region, 2015–2024 (USD Million)
    7.3 Smart Camera-Based Vision Systems
           7.3.1 Smart Camera Performs Multiple Functions Without Manual Assistance By Utilizing a Processor and Computational Intelligence.
                      Table 29 Smart Camera-Based Machine Vision Systems Market, By Region, 2015–2024 (USD Million)
                      Table 30 Smart Camera-Based Machine Vision Systems Market, By End-Use Industry, 2015–2024 (USD Million)
                      Table 31 Smart Camera-Based Machine Vision Systems Market in Automotive Industry, By Region, 2015–2024 (USD Million)
                      Table 32 Smart Camera-Based Machine Vision Systems Market in Consumer Electronics Industry, By Region, 2015–2024 (USD Million)
                      Table 33 Smart Camera-Based Machine Vision Systems Market in Electronics & Semiconductor Industry, By Region, 2015–2024 (USD Million)
                      Table 34 Smart Camera-Based Machine Vision Systems Market in Printing Industry, By Region, 2015–2024 (USD Million)
                      Table 35 Smart Camera-Based Machine Vision Systems Market in Metals Industry, By Region, 2015–2024 (USD Million)
                      Table 36 Smart Camera-Based Machine Vision Systems Market in Wood & Paper Industry, By Region, 2015–2024 (USD Million)
                      Table 37 Smart Camera-Based Machine Vision Systems Market in Food & Packaging Industry, By Region, 2015–2024 (USD Million)
                      Table 38 Camera-Based Machine Vision Systems Market in Rubber & Plastics Industry, By Region, 2015–2024 (USD Million)
                      Table 39 Smart Camera-Based Machine Vision Systems Market in Pharmaceuticals Industry, By Region, 2015–2024 (USD Million)
                      Table 40 Smart Camera-Based Machine Vision Systems Market in Glass Industry, By Region, 2015–2024 (USD Million)
                      Table 41 Smart Camera-Based Machine Vision Systems Market in Machinery Industry, By Region, 2015–2024 (USD Million)
                      Table 42 Smart Camera-Based Machine Vision Systems Market in Solar Panel Manufacturing Industry, By Region, 2015–2024 (USD Million)
                      Table 43 Smart Camera-Based Machine Vision Systems Market in Textiles Industry, By Region, 2015–2024 (USD Million)

8 Machine Vision Market, By Application (Page No. - 86)
    8.1 Introduction
            Figure 21 Market for Predictive Maintenance to Grow at the Highest CAGR During the Forecast Period
            Table 44 Market, By Application, 2015–2024 (USD Billion)
    8.2 Quality Assurance & Inspection
           8.2.1 Quality Assurance Application Dominates the Market
                     Table 45 Market in Quality Assurance & Inspection, By Product, 2015–2024 (USD Million)
    8.3 Positioning & Guidance
           8.3.1 Robots Plays an Important Role in Positioning and Guidance System in Machine Vision.
                     Table 46 Market in Positioning & Guidance, By Product, 2015–2024 (USD Million)
    8.4 Measurement
           8.4.1 Machine Vision Measurement Tools Combined With the Right Optics and Stable Lighting Provide Precision Repeatability to Ensure Manufacturing Accuracy.
                     Table 47 Market in Measurement, By Product, 2015–2024 (USD Million)
    8.5 Identification
           8.5.1 in Identification, Vision Systems are Used to Read Various Codes and Alphanumeric Characters, Such as Text and Numbers.
                     Table 48 Market in Identification, By Product, 2015–2024 (USD Million)
    8.6 Predictive Maintenance
           8.6.1 Predictive Maintenance Can be Very Useful When There is Machine Downtime.
                     Table 49 Market in Predictive Maintenance, By Product, 2015–2024 (USD Million)

9 Machine Vision Market, By End-Use Industry (Page No. - 92)
    9.1 Introduction
            Figure 22 Automotive End-Use Industry Estimated to Hold the Largest Size of the Market in 2019
            Table 50 Market, By End-Use Industry, 2015–2024 (USD Million)
    9.2 Automotive
           9.2.1 Machine Vision Systems Offer High Accuracy in Critical Activities Such as Bin Picking and Positioning of Parts for Assembly.
                     Table 51 Market in Automotive Industry, By Region, 2015–2024 (USD Million)
    9.3 Electronics & Semiconductor
           9.3.1 Demand for Machine Vision Systems in the Electronics & Semiconductor Industry is Increasing Because of the Declining Prices of Electronic Chips and the High Production
                     Table 52 Market in Electronics & Semiconductor Industry, By Region, 2015–2024 (USD Million)
    9.4 Consumer Electronics
           9.4.1 3D Machine Vision Systems are Emerging as Powerful Technologies for Electronics Assembly Applications.
                     Table 53 Market in Consumer Electronics Industry, By Region, 2015–2024 (USD Million)
    9.5 Glass
           9.5.1 Machine Vision Improves Operational Efficiency, Traces Defects, Reduces Wastage, and Provides Detailed Statistical Information.
                     Table 54 Market in Glass Industry, By Region, 2015–2024 (USD Million)
    9.6 Metals
           9.6.1 Shortage of Skilled Labour in the Market are the Two Major Factors Responsible for the Increasing Adoption of Machine Vision in the Metals Industry.
                     Table 55 Market in Metals Industry, By Region, 2015–2024 (USD Million)
    9.7 Wood & Paper
           9.7.1 Machine Vision Systems Can Work Efficiently in Different Environmental Conditions, Such as Wood Dust, Heat, Smoke, Water, and Chemicals.
                     Table 56 Market in Wood & Paper Industry, By Region, 2015–2024 (USD Million)
    9.8 Pharmaceuticals
           9.8.1 Stringent Government Regulations and the Increasing Need to Combat Counterfeit Products are Driving the Growth of the Market in This Industry
                     Table 57 Market in Pharmaceuticals Industry, By Region, 2015–2024 (USD Million)
    9.9 Food & Packaging
           9.9.1 Food
                    9.9.1.1 The Machine Vision Systems are Pre-Trained With the Required Algorithms, Which Help Them Understand Characteristics Such as Size, Stage of Growth, and Variety.
           9.9.2 Packaging
                    9.9.2.1 Machine Vision Helps in the Inspection of Packaging Processes and Reduction of Errors By Carrying Out Multiple Inspections at a Single Time.
                                 Table 58 Market in Food & Packaging Industry, By Region, 2015–2024 (USD Million)
    9.10 Rubber & Plastics
           9.10.1 The Machine Vision in Rubber and Plastic Industry Helps in Examine and Evaluate Parts and Determine If the Parts are Good, Bad, or Undefined.
                      Table 59 Market in Rubber & Plastics Industry, By Region, 2015–2024 (USD Million)
    9.11 Printing
           9.11.1 Machine Vision Ensure That the Right Pages are Used in the Right Envelopes
                      Table 60 Market in Printing Industry, By Region, 2015–2024 (USD Million)
    9.12 Machinery
           9.12.1 Machine Vision Systems Help in Completing Processes Much Faster and Also Help in Detecting Defects and Validating Quality.
                      Table 61 Market in Machinery Industry, By Region, 2015–2024 (USD Million)
    9.13 Solar Panel Manufacturing
           9.13.1 Industrial Machine Vision-Based Inspection is an Important Tool for Inspecting the Quality of Solar Panels.
                      Table 62 Market in Solar Panel Manufacturing Industry, By Region, 2015–2024 (USD Million)
    9.14 Textiles
           9.14.1 Machine Vision Systems Help Manufacturers Produce High-Quality Textiles While Minimizing the Costs and Maximizing the Profits.
                      Table 63 Market in Textiles Industry, By Region, 2015–2024 (USD Million)

10 Geographic Analysis (Page No. - 105)
     10.1 Introduction
            Figure 23 Geographic Snapshot of the Market (2019–2024)
                       Table 64 Market, By Region, 2015–2024 (USD Billion)
     10.2 North America
              Figure 24 Snapshot of the Market in North America
              Table 65 Market in North America, By Country, 2015–2024 (USD Million)
             10.2.1 US
                       10.2.1.1 The US Offers an Ideal Environment for Innovation, Which has Facilitated Massive Advancements in Machine Vision Technologies and Standards.
             10.2.2 Canada
                       10.2.2.1 Canada is One of the Leading Contributors to the Development of Machine Vision Technologies.
             10.2.3 Mexico
                       10.2.3.1 Mexico is Evolving as a Major Industrial Hub in North America.
     10.3 Europe
              Figure 25 Snapshot of the Market in Europe
                       Table 66 Market in Europe, By Country, 2015–2024 (USD Million)
             10.3.1 Germany
                       10.3.1.1 Increasing Demand for Robots in the Automotive and Electronics Industries is Driving the Growth of the Market for Camera-Based Machine Vision Systems in Germany
             10.3.2 UK
                       10.3.2.1 Manufacturers Based in the UK are Progressively Considering Machine Vision Systems to Improve Their Product Quality and Minimize Waste.
             10.3.3 France
                       10.3.3.1 Government Support Towards Smart Factory Automation is Expected to Boost Market
             10.3.4 Italy
                       10.3.4.1 The Market for Electric Vehicles in Italy is Expected to Boost the Market.
             10.3.5 Spain
                       10.3.5.1 The Growth of the Market in Spain is Driven By Consumer Electronics and Pharmaceuticals Industries.
             10.3.6 Rest of Europe
                       10.3.6.1 The use of Smart Camera-Based Machine Vision Systems is Expected to Increase in the Region During the Forecasted Period
     10.4 Asia Pacific (APAC)
              Figure 26 Snapshot of the Market in APAC
                       Table 67 Market in APAC, By Country, 2015–2024 (USD Million)
             10.4.1 China
                       10.4.1.1 China is One Off the Fastest Growing Market for Machine Vision
             10.4.2 Japan
                       10.4.2.1 Manufacturers in Japan Have Been Early Adopters of Machine Vision Systems
             10.4.3 South Korea
                       10.4.3.1 South Korea is Among the Leading Manufacturers of Robots in the World.
             10.4.4 India
                       10.4.4.1 The Manufacturing Sector in India is Expected to Grow Further in the Near Future, Which Will Require Automated Quality Check Mechanisms.
             10.4.5 Rest of APAC
                       10.4.5.1 The use of Machine Vision Systems is Growing Owing to the Continuously Increasing Number of Applications in Various Industries
     10.5 Rest of the World (RoW)
              Table 68 Market in RoW, By Region, 2015–2024 (USD Million)
             10.5.1 South America
                       10.5.1.1 South America has Significant Potential to use Machine Vision Systems.
             10.5.2 Middle East
                       10.5.2.1 The Increase in Manufacturing Activities in Israel, the Middle East is a Key Growth Driver for This Market.
             10.5.3 Africa
                       10.5.3.1 Increasing in Food & Beverage, Automotive and Pharmaceutical Industries is Key Driver of Growth of Market.

11 Competitive Landscape (Page No. - 119)
     11.1 Overview
              Figure 27 Product Launches and Developments Emerged as the Key Growth Strategies Adopted Companies Between 2016 and 2018
     11.2 Key Players in the Market
              Figure 28 Top 5 Players in the Market, 2018
     11.3 Competitive Leadership Mapping
             11.3.1 Visionary Leaders
             11.3.2 Dynamic Differentiators
             11.3.3 Innovators
             11.3.4 Emerging Companies
                        Figure 29 Market (Global) Competitive Leadership Mapping, 2018
     11.4 Strength of Product Portfolio (25 Companies)
     11.5 Business Strategy Excellence (25 Companies)
     11.6 Competitive Scenario
              Figure 30 Market Evaluation Framework: New Product Development, New Product Launch, and Product Line Expansion Have Fueled Growth and Innovation Between 2016 and 2018
             11.6.1 Product Launches and Developments
                        Table 69 Product Launches and Developments (2016–2018)
             11.6.2 Partnerships, Collaborations, and Agreements
                        Table 70 Partnerships, Collaborations, and Agreements (2016–2018)
             11.6.3 Mergers & Acquisitions
                        Table 71 Mergers & Acquisitions (2016–2017)

12 Company Profile (Page No. - 130)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 Key Players
             12.1.1 Cognex
                        Figure 31 Cognex: Company Snapshot
             12.1.2 Basler
                        Figure 32 Basler: Company Snapshot
             12.1.3 Omron
                        Figure 33 Omron: Company Snapshot
             12.1.4 Keyence
                        Figure 34 Keyence: Company Snapshot
             12.1.5 National Instruments
                        Figure 35 National Instruments: Company Snapshot
             12.1.6 Sony
                        Figure 36 Sony: Company Snapshot
             12.1.7 Teledyne Technologies
                        Figure 37 Teledyne Technologies: Company Snapshot
             12.1.8 Texas Instruments
                        Figure 38 Texas Instruments: Company Snapshot
             12.1.9 Intel
                        Figure 39 Intel: Company Snapshot
               12.1.10 Baumer Optronic
               12.1.11 JAI A/S
               12.1.12 MVTec Software
               12.1.13 Tordivel AS
               12.1.14 ISRA VISION
                        Figure 40 ISRA VISION: Company Snapshot
               12.1.15 Sick
                        Figure 41 Sick: Company Snapshot
               12.1.16 FLIR Systems
                        Figure 42 FLIR Systems: Company Snapshot
     12.2 Startup-Ecosystem
             12.2.1 AMETEK
             12.2.2 Qualitas Technologies
             12.2.3 SUALAB
             12.2.4 Algolux
             12.2.5 Clarifai
             12.2.6 Cadence Design Systems
             12.2.7 Inuitive

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 173)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Available Customizations
     13.4 Related Reports
     13.5 Author Details

The study involved 4 major activities in estimating the current size of the machine vision market. Exhaustive secondary research was done to collect information about the market being studied, along with its peer and parent markets. The next step was to validate these findings, assumptions, and sizing, with industry experts across the value chain through primary research. Both, top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources—such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet—were referred for identifying and collecting information for this study. The other secondary sources used during the study included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard and silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

Stakeholders in the market include raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the automotive, food & packaging, consumer electronics, electronics & semiconductor, and pharmaceuticals, among other end-use industries. The supply side highlights the advancements in technology and diverse use cases. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents has been provided below.

Industrial Machine Vision Market

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

Market Size Estimation

Both, top-down and bottom-up approaches were implemented to estimate and validate the total size of the market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size has been mentioned in brief below:

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

Data Triangulation

After arriving at the overall market size—using the estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data were triangulated by studying various factors and trends from both the demand and supply sides in the automotive, food & packaging, consumer electronics, and pharmaceuticals, among other end-use industries.

Report Objective

  • To define, describe, and forecast the market, in terms of value, segmented on the basis of component, product, application, end-use industry, and geography
  • To define, describe, and forecast the market size, in terms of volume, for cameras components
  • 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 challenges) influencing the growth of the market
  • To analyze 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 market
  • To analyze opportunities in the market for various stakeholders by identifying high-growth segments of the market
  • To profile the key players and comprehensively analyze their market position in terms of ranking and core competencies, and detail the competitive landscape for market leaders
  • To analyze competitive developments such as partnerships, mergers & acquisitions, product launches & developments, and expansions in the market

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:

Company Information

  • Detailed analysis and profiling of additional market players on the basis of various blocks of the value chain
  • Product matrix:
  • Provides detailed analysis and profiling of additional market players (up to 5)
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