Global MV Camera Market to Reach $6.5 Billion by 2031: Allied Market Research

Increase in demand for vision-enabled robotics systems, Industry 4.0 revolution witnessed across the manufacturing sector, increase in the use of machine vision cameras in non-industrial sectors, and rise in the adoption of vision systems in medical and life science research to drive global MV camera market growth. Closure of manufacturing facilities, reduction in skilled workforce, and delay of projects during pandemic adversely impacted the global MV camera market growth.

Pune, INDIA


Portland, OR, Oct. 20, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global MV camera market generated $2.6 billion in 2021 and is projected to reach $6.5 billion by 2031, growing at a CAGR of 9.9% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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Report Coverage & Details:

Report CoverageDetails
Forecast Period2022­–2031
Base Year2021
Market Size in 2021$2.6 billion
Market Size in 2031$6.5 billion
CAGR9.9%
No. of Pages in Report387
Segments CoveredVision type, sensor type, platform type, camera type, application, end-users, and region.
Drivers Increase in demand for vision-enabled robotics systems
Increase in the use of machine vision cameras in non-industrial sectors.
OpportunitiesRise in opportunities for Industry 4.0 across the manufacturing sector
Increase in the adoption of vision systems in medical and life science research
RestrainsExtortionate cost of maintenance
Lack of skilled professionals

COVID-19 Scenario:

  • The outbreak of the COVID-19 has had a negative impact on the growth of the global MV camera market, owing to the occurrence of lockdowns in various countries across the globe.
  • Lockdowns resulted in the closure of manufacturing facilities, including those of MV cameras and other electronic products, which impacted the growth of the market.
  •  In addition, delay or cancellation of projects and shortage of skilled workforce during the pandemic further aggravated the impact on the market.
  • Furthermore, shortage of essential raw materials due to the strict ban on import and export of items additionally impacted the growth of the market. These restrictions were imposed by the government so as to curb the spread of the virus during the pandemic.
  •  However, the rise in investment in medical and life science research globally acts as one of the major factors that propelled the market growth during the COVID-19 pandemic.

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The report offers detailed segmentation of the global MV camera market based on vision type, sensor type, platform type, camera type, application, end-users, and region.

Based on vision type, the 2D vision segment held the dominating market share in 2021, holding more than half of the global MV camera market share. The 3D vision segment, on the other hand, is expected to expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 11.4% during the forecast period.

Based on end-user, the manufacturing and packaging segment held the largest market share in 2021, holding nearly one-third of the global MV camera market share. The automotive segment, on the other hand, is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 12.4% during the forecast period.

Based on platform type, the PC-based camera segment held the dominating market share in 2021, holding more than half of the global MV camera market share, and is expected to maintain its leadership status during the forecast period. The smart camera segment, on the other hand, is expected to cite the fastest CAGR of 11.2% during the forecast period.

Based on region, the market across Asia-Pacific region held the dominating market share in 2021, holding nearly half of the global MV camera market share, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 10.9% during the forecast period. The report also analyses others regions such as North America, Europe, and LAMEA.

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The key players analyzed in the global MV camera market report include Cognex Corporation, Basler, Omron Corporation, Keyence Corporation, Teledyne Technologies, TKH Group, National Instruments, Sony Corporation, Texas Instruments, Intel Corporation, ISRA VISION AG, SICK AG, Microsoft Corporation, AMETEK Inc., Qualitas Technologies, viso.ai, and Zivid & Pick & Place.

The report analyzes these key players in the global MV camera market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market. 

Key Benefits for Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the MV Camera market analysis from 2021 to 2031 to identify the prevailing MV Camera market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the MV Camera market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global MV Camera market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

End Users

  • Automotive
  • Healthcare
  • Manufacturing and Packaging
    • Manufacturing and Packaging
      • Electronics and Semiconductor
      • Pharmaceutical
      • Food and Beverage
  • Industrial
  • Others

Vision type

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

Sensor Type

  • CCD Sensor-based Cameras
  • CMOS Sensor-based Cameras

Platform Type

  • Smart Camera
  • PC based Camera
  • Wireless Cameras
  • Wearable Cameras

Camera Type

  • Line scan
  • Area scan
  • 3D scan cameras

Application

  • Quality Assurance and Inspection
  • Position Guidance
  • Measurement
  • Identification
  • Others

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