Machine Vision Market 2020-2024
Technavio has been monitoring the machine vision market and it is poised to grow by $ 4.42 billion during 2020-2024 progressing at a CAGR of 8% during the forecast period. Our reports on machine vision market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the significant cost savings in operation due to process control, rise in demand for machine vision systems from APAC, and increasing demand for machine vision systems from automotive industry. In addition, significant cost savings in operation due to process control is anticipated to boost the growth of the market as well.
The machine vision market analysis includes end-user segment and geographic landscapes
Technavio's machine vision market is segmented as below:
By Geographic landscapes
- North America
- South America
This study identifies the incorporation of thermal inspection in machine vision systems as one of the prime reasons driving the machine vision market growth during the next few years. Also, requirement from vision guided robots in manufacturing activities, and rise in demand for industrial internet of things will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our machine vision market covers the following areas:
- Machine vision market sizing
- Machine vision market forecast
- Machine vision market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading machine vision market vendors that include Basler AG, Cognex Corp., Datalogic Spa, FLIR Systems Inc., JAI AS, Keyence Corp., OMRON Corp., Sony Corp., Teledyne DALSA Inc., and Toshiba Teli Corp.. Also, the machine vision market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.