Global Machine Vision Market Forecast 2019-2027
The Global Machine Vision market is forecasted to rise at a CAGR of 7.92% between the years 2019-2027. Growing factory or industrial automation, augmented demand from numerous end-user industries, the ongoing trend of product miniaturization, rising need for quality inspection, and the potential role of machine vision in Industrial Internet of Things (IIOT) are some of the factors that are propelling the market ahead.
The Global Machine Vision market is segmented based on its type, components, end-user industries, and applications. The market by type can be further classified as 1D, 2D and 3D machines. The market components are further classified into hardware and software. The hardware components include application-specific machine vision (ASMV), sensors, camera, processors, illuminations, and other components. The end-user industries for the market include automotive, electronic & semiconductor, healthcare, food & packaging, etc. The market finds its application in areas like inspection, guidance, gauging, identification, and others.
The global machine vision market encompasses regions like North America, Europe, Asia Pacific, and Rest of world. The Asia-Pacific market dominates the global scene with its xx% market share in 2018. 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.
Cognex Corporation, Microscan Systems Inc., National Instruments Corporation, Keyence Corporation, Optotune AG, Datalogic SPA, Teledyne Technologies Inc., Allied Vision Technologies GmbH, Baumer Optronic GmbH, Jai A/S, Perceptron Inc., Omron Corporation, Basler AG, USS Vision Inc., and FLIR System are the major companies operating in the market that are mentioned in the report. Most of these companies plan out the strategies such as merger & acquisition, partnership, contracts, agreements, and new product launch to gain a competitive edge over each other.
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