Machine Vision Companies - Cognex Corporation (US) and Teledyne Technologies Inc. (US) are the Key Players
With a CAGR of 8.3%, the global machine vision market is expected to increase from USD 15.83 billion in 2025 to USD 23.63 billion in 2030. A machine vision system is usually integrated with digital technologies, artificial intelligence, deep learning, etc. to accelerate image processing and provide industrial equipment with the ability to see and analyze tasks to ensure smart manufacturing, quality control, and worker safety. A machine vision system combines mechanical, optical, electronic, and software systems and helps improve quality and operational efficiency in manufacturing.
Machine vision technology is used in various industrial processes, such as material inspection, design, pattern, or sign recognition, electronic or machinery component analysis, defect detection, positioning and measuring parts, and identifying, sorting, and tracking products. Machine vision systems find applications in almost all manufacturing industries, such as automotive, electronics & semiconductors, consumer products, metals, logistics, and healthcare.
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Major Machine Vision Companies Include:
- Cognex Corporation (US)
- KEYENCE CORPORATION (Japan)
- Teledyne Technologies Inc. (US)
- Basler AG (Germany)
- Omron Corporation (Japan)
The major players operating in the machine vision market are Cognex Corporation (US), KEYENCE CORPORATION (Japan), Teledyne Technologies Inc. (US), Basler AG (Germany), and Omron Corporation (Japan).
Cognex Corporation (US): Cognex Corporation is a leading provider of machine vision systems, software, sensors, surface inspection systems, and industrial ID readers for automation processes. Cognex operates through one segment, namely, Machine Vision Technology. The segment has two subsegments: Standard Products and Services and Application-specific Customer Solutions. The company provides various products, ranging from low-cost vision sensors that conduct simple presence/absence inspections to deep learning solutions that solve complex applications with unpredictable defects and deviations.
The company provides vision systems that capture and analyze visual information to automate manufacturing and distribution tasks where vision is required. The company offers a variety of vision systems, such as 2D vision systems, 3D vision systems, and vision software. Cognex serves multiple industries, including logistics, automotive, consumer electronics, food & beverage, pharmaceuticals, and semiconductors.
Teledyne Technologies Inc. (US): Teledyne Technologies Inc. is a global conglomerate specializing in aerospace, digital imaging, instrumentation, and engineered systems. It provides advanced technology solutions, including sensors, communication systems, and instrumentation, serving various industries and government agencies. Its focus is on innovation, precision, and high-quality products. Teledyne Technologies operates through the Instrumentation, Aerospace and Defense Electronics, Digital Imaging, and Engineered Systems segments. Teledyne Technologies' imaging solutions include cameras, frame grabbers, image sensors, vision systems, X-ray detectors, and other software solutions. The company offers robotic vision systems through its Digital Imaging business segment. It offers both 2D and 3D vision systems. In May 2021, Teledyne Technologies' subsidiary Teledyne DALSA acquired FLIR, which is an industrial technology company focused on intelligent sensing solutions for defense and industrial applications. Now, FLIR is part of the Digital Imaging segment.
Market Ranking
The machine vision market is highly competitive, with the leading five companies controlling 20% to 30% of the market share. Cognex Corporation dominates the machine vision market because of its strong market share and advanced vision systems such as the In-Sight D900, which is integrated with deep learning for enhanced defect detection in areas like automotive, electronics & semiconductors, printing, consumer electronics, and food & packaging. Keyence Corporation caters to industries such as semiconductors and manufacturing with an extensive range of sophisticated sensors and cameras, including the IV3 series vision sensors. Teledyne Technologies Inc. acquired FLIR Systems, which allowed the firm to supplement its product offering with the necessary high-quality thermal imaging systems that are critical to deliver effective inspections in manufacturing solar panels and within the healthcare sector. Basler AG, known for its 3D cameras, enables precise measurement and analysis of objects in three dimensions, and it serves the automotive, food & beverages, and other industries. Omron Corporation is also one of the major players in the market. It is known for its FH Series vision systems.
Related Reports:
Machine Vision Market by Component (Camera, Frame Grabbers, Optics, LED Lighting, Processors, AI-based Machine Vision Software), Type (PC based, Smart Camera-based), Deployment (General, Robotic Cell), Vision Type (1D, 2D, 3D) - Global Forecast to 2030
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