GLOBAL MACHINE VISION MARKET FORECAST 2019-2027

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GLOBAL MACHINE VISION MARKET FORECAST 2019-2027

The machine vision technology captures an image; transfers it to the processor; reports it to the processor system for inspection; and then provides the processed results to take action accordingly. Global machine vision market is expected to grow at 7.92% CAGR during the forecast period to generate a revenue of $21.35 billion by 2027. The base year considered for the market study is 2018, and the estimated period is between 2019-2027.

GLOBAL MACHINE VISION MARKET FORECAST 2019-2027

Global Machine Vision Market by Type (1d Machine Vision, 2d Machine Vision, 3d Machine Vision) by Application (Inspection, Gauging, Guidance, Identification, Other Applications) by End-users (Automotive, Electronics & Semiconductor, Healthcare, Food & Packaging, Other End-users) by Geography.

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The machine vision technology analyzes and inspects images through various machine vision software, hardware, and accessories. This technology includes four processes – identification, guidance, measurement, and inspection. The machine vision technology captures an image; transfers it to the processor; reports it to the processor system for inspection; and then provides the processed results to take action accordingly. Global machine vision market is expected to grow at 7.92% CAGR during the forecast period to generate a revenue of $21.35 billion by 2027. The base year considered for the market study is 2018, and the estimated period is between 2019-2027. Several factors that are responsible for the market advancement are:

  • Growing factory or industrial automation
  • Augmented demand from numerous end-user industries
  • The ongoing trend of product miniaturization
  • Rising need for quality inspection
  • Potential role of machine vision in Industrial Internet of Things (IIoT)

The increased need for industrial automation or smart factories is the key driver of the global machine vision market. Additionally, the ongoing trend of product miniaturization has made machine vision systems an essential tool for inspection and measurements of the miniaturized products. Thus, machine vision systems are widely adopted in manufacturing industries to avoid mistakes, and to have a proper defect detection along with tolerance monitoring.

In terms of end-user industries, the automotive industry is the primary end-user sector for machine vision. The market is dominated by the automotive sector, which accounted for a market share of around 30% in the year 2018. Globally, one of the largest sectors of manufacturing has been the automotive industry, and machine vision technology plays a key role in optimizing the processes in production, quality, and logistics. Increased complexity in today’s automobiles brings the potential for greater production errors; Machine vision helps the robots in the guiding and inspection. The growing use of automation in the automotive industry is the major driver behind the high adoption of machine vision in this industry. In future, it is expected that as the demand for commercial vehicles and electric vehicles increases, the market for machine vision will also see a considerable rise.

Though the market is advancing at a promising pace, there are still several factors that are profoundly restraining market growth. Standardization has always been an issue in the global machine vision market. Since most of the vision systems and components are application-specific and require close interaction with customers, most of the vision systems that are developed are intended for a particular use and are not suitable for wide-scale deployment. Integration issues with the existing customer infrastructure during the setting up of machine vision are another major issue faced by the machine vision market. Lack of skilled personnel and unawareness about the advantages of machine vision systems are also factors that are negatively affecting the market growth.

Global machine vision market is segmented on the basis of its components, type, applications and end-user industries. Their sub-segmentation is as follows:

Market by Components:

  • Hardware
    • Application-specific Machine Vision (ASMV)
    • Camera
    • Sensors
    • Illuminations
    • Processors
    • Other Hardware components
  • Software

Market by Type:

  • 1D Machine Vision
  • 2D Machine Vision
  • 3D Machine Vision

Market by Applications:

  • Inspection
  • Gauging
  • Guidance
  • Identification
  • Other Applications

Market by End-users:

  • Automotive
  • Electronic & Semiconductor
  • Healthcare
  • Food & Packaging
  • Other End-Users

On the basis of geography, global Machine Vision market has been segmented into four major regions:

By accounting for around 37% share of the overall market in 2018, the Asia Pacific dominates the market for machine vision at the global scale. It is also the fastest evolving market for the forecast period. The main factor which is driving growth in this region has been identified to be the growing manufacturing industry in China, Japan, South Korea and Taiwan. Also, most of the countries of this region are in the developing phase, creating heavy demand for automation. The Asia Pacific is also estimated to be one of the largest suppliers of the components used in the machine vision systems. For example, cameras, sensors and other hardware equipment; and as the manufacturing sector along with semiconductor, foods, and beverages, security & surveillance expands over the years, the demand for the machine vision systems is also expected to rise simultaneously.

The overall machine vision market is segmented on the basis of the machine vision system’s two distinct components, namely, Hardware and Software. The hardware segment has been sub-segmented into ASMV (Application Specific Machine Vision Systems), Camera’s, Sensors, Illuminations, Processors, and other hardware components. The market is also segmented on the basis of its applications, which include inspection, gauging, guidance, identification, and others. End-user for this market includes industries like automotive, electronics & semiconductor, healthcare, food & packaging, and other end-users.

The key companies operating in the global machine vision market are:

  • Basler AG
  • Cognex Corporation
  • Teledyne Technologies, Inc.
  • Keyence Corporation
  • Omran Corporation
  • And other companies

Company profiles of prominent market players are discussed in detail. Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, and new product launch to gain a competitive edge over each other. For instance, in December 2018, OMRON Corporation introduced the automation industry’s first “VT-M121: 2D dimension and visual inspection machine” that performs simultaneously dimension and visual inspection to detect scratches and cracks on products. In the same month, Datalogic, introduced the new Matrix 220™ imager, a compact image-based barcode reader. In November 2018, Baumer introduced the new optical miniature sensors O200. These O200 sensors feature high-power mode to detect ultra-black, light-absorbing objects even at long distance reliably. Similarly, Cognex Corporation announced the release of the In-Sight 9000, a series of ultra-high-resolution vision systems. The In-Sight 9000 series consists of two models, the 9902L (2K line scan) and the 9912 (12MP area scan), both IP67-rated for use in harsh factory environments.

Key findings of the global machine vision market:

  • The Asia Pacific accounted for the largest market share of the overall global machine vision market in 2018. Additionally, it is the fastest evolving region too.
  • Automotive and Electronic & semiconductor – these two are the key end-user industries that are dominating the machine vision market.
  • 2D Machine vision rules the machine vision market by accounting for a major chunk of the overall market, while 3D Machine vision is expected to be the fastest growing technology type.
  • The machine vision market is witnessing a major makeover in terms of investments for both R&D activities and product development.
  • As cloud technology can be used to upload and retrieve critical data anytime and anywhere with 24*7 access, the machine vision users and vendors are also turning to the cloud as the next innovation in the machine vision market.
  • Machine vision is one of the most important basic technologies to supply the Industrial Internet of Things (IIoT) with information and has the potential to play a much bigger role in the IIoT.
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • ASIA PACIFIC IS LARGEST REGIONAL MARKET
      • 3D MACHINE VISION IS EXPECTED TO BE THE FASTEST EVOLVING TECHNOLOGY
      • AUTOMOTIVE INDUSTRY HOLDS THE LARGEST REVENUE SHARE
      • ELECTRONICS & SEMICONDUCTOR- PROMINENT END-USER INDUSTRY
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • GROWING FACTORY AUTOMATION
      • AUGMENTED DEMAND FROM NUMEROUS END-USER INDUSTRIES
      • ONGOING TREND OF PRODUCT MINIATURIZATION
      • RISING NEED OF QUALITY INSPECTION
    • MARKET RESTRAINTS
      • PRICE SENSITIVITY IN ASIA PACIFIC
      • LACK OF AWARENESS
      • ABSENCE OF STANDARDIZATION
    • MARKET OPPORTUNITIES
      • POTENTIAL ROLE IN THE INDUSTRIAL INTERNET OF THINGS (IIOT)
      • INTEGRATING MACHINE VISION WITH CLOUD TECHNOLOGY
    • MARKET CHALLENGES
      • DIFFICULTY IN IMPLEMENTATION OF MACHINE VISION SYSTEMS
      • LACK OF SKILLED PERSONNEL
  1. MARKET BY COMPONENTS
    • HARDWARE
      • APPLICATION SPECIFIC MACHINE VISION (ASMV)
      • CAMERA
      • SENSORS
      • ILLUMINATIONS
      • PROCESSORS
      • OTHER HARDWARE COMPONENTS
    • SOFTWARE
  2. MARKET BY TYPE
    • 1D MACHINE VISION
    • 2D MACHINE VISION
    • 3D MACHINE VISION
  3. MARKET BY APPLICATION
    • INSPECTION
    • GAUGING
    • GUIDANCE
    • IDENTIFICATION
    • OTHER APPLICATIONS
  4. MARKET BY END-USERS
    • AUTOMOTIVE
    • ELECTRONICS & SEMICONDUCTOR
    • HEALTHCARE
    • FOOD & PACKAGING
    • OTHER END-USERS
  5. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTES
      • BARGAINING POWER OF BUYERS
      • BARGAINING POWER OF SUPPLIERS
      • INTENSITY OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • VALUE CHAIN ANALYSIS
    • KEY BUYING CRITERIA
      • PRECISION
      • COST EFFECTIVENESS
      • FLEXIBILITY
  1. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • GERMANY
      • UNITED KINGDOM
      • FRANCE
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • ALLIED VISION TECHNOLOGIES GMBH
    • BASLER AG
    • BAUMER OPTRONIC GMBH
    • COGNEX CORPORATION
    • DATALOGIC SPA
    • FLIR SYSTEM
    • JAI A/S
    • KEYENCE CORPORATION
    • MICROSCAN SYSTEMS INC.
    • NATIONAL INSTRUMENTS CORPORATION
    • OMRON CORPORATION
    • OPTOTUNE AG
    • PERCEPTRON INC.
    • TELEDYNE TECHNOLOGIES INC.
    • USS VISION INC.

TABLE LIST

TABLE 1: GLOBAL MACHINE VISION MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2: GLOBAL MACHINE VISION MARKET, BY COMPONENTS, 2019-2027 (IN $ MILLION)

TABLE 3: GLOBAL HARDWARE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 4: GLOBAL MACHINE VISION MARKET, BY HARDWARE COMPONENTS 2019-2027 (IN $ MILLION)

TABLE 5: GLOBAL APPLICATION SPECIFIC MACHINE VISION (ASMV) MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 6: GLOBAL CAMERAS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7: GLOBAL SENSORS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8: GLOBAL ILLUMINATIONS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL PROCESSORS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10: GLOBAL OTHER HARDWARE COMPONENTS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11: GLOBAL SOFTWARE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 12: GLOBAL MACHINE VISION MARKET, BY TYPE, 2019-2027 (IN $ MILLION)

TABLE 13: GLOBAL 1D MACHINE VISION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14: GLOBAL 2D MACHINE VISION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 15: GLOBAL 3D MACHINE VISION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 16: GLOBAL MACHINE VISION MARKET, BY APPLICATION, 2019-2027 (IN $ MILLION)

TABLE 17: GLOBAL INSPECTION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 18: GLOBAL GAUGING MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 19: GLOBAL GUIDANCE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 20: GLOBAL IDENTIFICATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 21: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 22: GLOBAL MACHINE VISION MARKET, BY END-USERS, 2019-2027 (IN $ MILLION)

TABLE 23: GLOBAL AUTOMOTIVE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 24: GLOBAL ELECTRONICS & SEMICONDUCTOR MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 25: GLOBAL HEALTHCARE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 26: GLOBAL FOOD & PACKAGING MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 27: GLOBAL OTHER END-USERS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 28: OPPORTUNITY MATRIX

TABLE 29: GLOBAL MACHINE VISION MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 30: NORTH AMERICA MACHINE VISION MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 31: EUROPE MACHINE VISION MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 32: ASIA PACIFIC MACHINE VISION MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 33: REST OF WORLD MACHINE VISION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

FIGURES LIST

FIGURE 1: GLOBAL MACHINE VISION MARKET, BY END-USERS, 2018 & 2027 (IN %)

FIGURE 2: GLOBAL MACHINE VISION MARKET, BY HARDWARE, 2019-2027 (IN $ MILLION)

FIGURE 3: GLOBAL MACHINE VISION MARKET, BY APPLICATION SPECIFIC MACHINE VISION (ASMV), 2019-2027 (IN $ MILLION)

FIGURE 4: GLOBAL MACHINE VISION MARKET, BY CAMERAS, 2019-2027 (IN $ MILLION)

FIGURE 5: GLOBAL MACHINE VISION MARKET, BY SENSORS, 2019-2027 (IN $ MILLION)

FIGURE 6: GLOBAL MACHINE VISION MARKET, BY ILLUMINATIONS, 2019-2027 (IN $ MILLION)

FIGURE 7: GLOBAL MACHINE VISION MARKET, BY PROCESSORS, 2019-2027 (IN $ MILLION)

FIGURE 8: GLOBAL MACHINE VISION MARKET, BY OTHER HARDWARE COMPONENTS, 2019-2027 (IN $ MILLION)

FIGURE 9: GLOBAL MACHINE VISION MARKET, BY SOFTWARE, 2019-2027 (IN $ MILLION)

FIGURE 10: GLOBAL MACHINE VISION MARKET, BY 1D MACHINE VISION, 2019-2027 (IN $ MILLION)

FIGURE 11: GLOBAL MACHINE VISION MARKET, BY 2D MACHINE VISION, 2019-2027 (IN $ MILLION)

FIGURE 12: GLOBAL MACHINE VISION MARKET, BY 3D MACHINE VISION, 2019-2027 (IN $ MILLION)

FIGURE 13: GLOBAL MACHINE VISION MARKET, BY INSPECTION, 2019-2027 (IN $ MILLION)

FIGURE 14: GLOBAL MACHINE VISION MARKET, BY GAUGING, 2019-2027 (IN $ MILLION)

FIGURE 15: GLOBAL MACHINE VISION MARKET, BY GUIDANCE, 2019-2027 (IN $ MILLION)

FIGURE 16: GLOBAL MACHINE VISION MARKET, BY IDENTIFICATION, 2019-2027 (IN $ MILLION)

FIGURE 17: GLOBAL MACHINE VISION MARKET, BY OTHER APPLICATIONS, 2019-2027 (IN $ MILLION)

FIGURE 18: GLOBAL MACHINE VISION MARKET, BY AUTOMOTIVE, 2019-2027 (IN $ MILLION)

FIGURE 19: GLOBAL MACHINE VISION MARKET, BY ELECTRONICS & SEMICONDUCTOR, 2019-2027 (IN $ MILLION)

FIGURE 20: GLOBAL MACHINE VISION MARKET, BY HEALTHCARE, 2019-2027 (IN $ MILLION)

FIGURE 21: GLOBAL MACHINE VISION MARKET, BY FOOD & PACKAGING, 2019-2027 (IN $ MILLION)

FIGURE 22: GLOBAL MACHINE VISION MARKET, BY OTHER END-USERS, 2019-2027 (IN $ MILLION)

FIGURE 23: PORTER’S FIVE FORCE ANALYSIS

FIGURE 24: VALUE CHAIN ANALYSIS

FIGURE 25: KEY BUYING IMPACT ANALYSIS

FIGURE 26: GLOBAL MACHINE VISION MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 27: UNITED STATES MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28: CANADA MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29: UNITED KINGDOM MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30: GERMANY MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31: FRANCE MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32: SPAIN MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33: ITALY MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34: REST OF EUROPE MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35: CHINA MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36: JAPAN MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 37: INDIA MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 38: SOUTH KOREA MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 39: AUSTRALIA MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 40: REST OF ASIA PACIFIC MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 41: LATIN AMERICA MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

FIGURE 42: MIDDLE EAST & AFRICA MACHINE VISION MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY COMPONENTS
    • HARDWARE
      • APPLICATION SPECIFIC MACHINE VISION (ASMV)
      • CAMERA
      • SENSORS
      • ILLUMINATIONS
      • PROCESSORS
      • OTHER HARDWARE COMPONENTS
    • SOFTWARE
  2. MARKET BY TYPE
    • 1D MACHINE VISION
    • 2D MACHINE VISION
    • 3D MACHINE VISION
  3. MARKET BY APPLICATION
    • INSPECTION
    • GAUGING
    • GUIDANCE
    • IDENTIFICATION
    • OTHER APPLICATIONS
  4. MARKET BY END-USERS
    • AUTOMOTIVE
    • ELECTRONICS & SEMICONDUCTOR
    • HEALTHCARE
    • FOOD & PACKAGING
    • OTHER END-USERS
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • GERMANY
      • UNITED KINGDOM
      • FRANCE
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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