HOME Research Insight Cognex (US) and KEYENCE (Japan) are the Top Players in the Industrial Machine Vision Market

Cognex (US) and KEYENCE (Japan) are the Top Players in the Industrial Machine Vision Market

The overall industrial 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 market growth is attributed to growing demand for automation in industries, increasing adoption of AI and industrial 4.0 in manufacturing and growing investment by various government to boost the smart factory automation.

In 2016, the industrial machine vision market was mainly dominated by Cognex (US), KEYENCE (Japan), National Instruments (US), Basler (Germany), and OMRON (Japan), among others. These companies have been considered as the top 5 players in the industrial machine vision market in 2016. Some of the major strategies adopted by these players to compete in the industrial machine vision market were product launches and developments, mergers & acquisitions, and partnerships & agreements, among others.

Cognex was incorporated in 1981 and has its headquarters in Massachusetts, US. Cognex Corporation holds a leading position in the global industrial machine vision market due to its strong employee base and diversified geographical presence, with offices and distributors located throughout the Americas, Europe, and APAC. The company also focuses on developing solutions for various applications, such as automotive, consumer electronics, and logistics, to grow in the industrial machine vision market. It provides high-resolution smart cameras, DS1000 3D sensors, and VisionPro 3D, which deliver accurate, 3-dimensional, real-time information that could enhance vision performance for assembly, logistics, and robot applications.

Keyence held the second position in the industrial machine vision market in 2016. The company has an extensive portfolio of industrial machine vision solutions. It focuses on developing innovative products and strengthening its sales channels to ensure medium and long-term growth. Recently, it had developed new products, including a stationary 2D code reader, a high-speed microscope, and an ultra-high speed and high capacity multi-camera image processing system in the area of industrial machine vision. Keyence has increased its human resources and expanded its operation base by establishing its subsidiaries overseas. Product launches and developments were the major growth strategies adopted by the company between 2013 and 2016. For instance, in September 2017, Keyence launched a 3D vision system that features point-and-click tools for measuring 3D objects.

Related Reports:

Industrial 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 - Global Forecast to 2023

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