Global Machine Vision Camera Market 2017-2021
About Machine Vision Camera
Machine vision cameras are used to capture multiple images in a process line or a system to aid coordination between multiple processes. The cameras are the main components used in the machine vision camera market for identifying, measuring, and inspecting objects or products to find errors or defects and take corrective actions. Machine vision products are used in the industrial and non-industrial sectors. Machine vision technologies capture images, process them for inspection, and report the inspected results for appropriate actions. However, applications of 2D and 3D imaging, smart cameras, and vision-guided robots have enhanced the market potential in various conventional and non-conventional industries.
Technavio’s analysts forecast the global machine vision camera market to grow at a CAGR of 8.54% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global machine vision camera market for 2017-2021. To calculate the market size, the report considers the new installations and retrofits of machine vision cameras as a part of machine vision system or individual component.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Machine Vision Camera Market 2017-2021
Technavio recognizes the following companies as the key players in the global machine vision camera market: Basler, Cognex Corporation, KEYENCE, OMRON, and Teledyne Technologies.
Other Prominent Vendors in the market are: Banner, Casio Computer, DENSO ADC, Honeywell, ifm electronic, IPG Photonics, Leuze Electronic, and Zebra Technologies.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is scope for metamaterial lenses in machine vision equipment. The miniaturization of camera lenses is difficult. Machine vision cameras, used in the identification of items during the manufacturing processes, require a small camera that can be used in the process of identification. Machine vision cameras can be made smaller by using metamaterial lenses. These lenses help the cameras work in severe conditions and adjust in any manufacturing environment. There is a growing demand for machine vision cameras in the automobile and electronics industry. The use of metamaterial lenses can help reduce the size of cameras and provide flexibility for data capturing and identification solutions, resulting in growth of the market.”
According to the report, one of the major drivers for this market is growing need for automation in inspection and quality control. Earlier, the different industrial and non-industrial sectors used mechanical equipment for inspection and quality control. The equipment was prone to mistakes, which in many cases led to heavy losses. For example, if a defect rate of 1% occurs while manufacturing 1,000 units and the total yield comes to an average of 91.23%, then the production of 1,000 accurate units (1000/0.912) requires manufacturing 1,096 units.
Further, the report states that one of the major factors hindering the growth of this market is intense competition. During the past few years, the machine vision market has experienced immense growth, leading to the entry of new vendors. This has resulted in intense competition in the global machine vision camera market, despite the market being highly consolidated. The key vendors are trying to provide the buyers with a complete range of tailored products and personal assistance for serving and maintenance purposes. The major players are investing huge amounts in R&D to tackle intense competition from the low-cost machine vision camera manufacturers.
Basler, Cognex Corporation, KEYENCE, OMRON, Teledyne Technologies, Banner, Casio Computer, DENSO ADC, Honeywell, ifm electronic, IPG Photonics, Leuze Electronic, and Zebra Technologies.