Growing Automation and IIoT Integration Open Lucrative Opportunities in Machine Vision Market

Dublin, Aug. 01, 2023 (GLOBE NEWSWIRE) -- The "Global Machine Vision Market 2023-2030" report has been added to's offering.

According to the analysis, the machine vision market is expected to witness a remarkable Compound Annual Growth Rate (CAGR) of 5.90% during the forecast period from 2023 to 2030.

Market Drivers Fueling Growth:

The report highlights various factors contributing to the market's significant growth, including the expanding applications of machine vision (MV) systems and the escalating demand for precise defect detection. Moreover, the rising adoption of smart factories and the trend of miniaturized products have also propelled the machine vision market's global expansion.

Challenges and Opportunities:

While the market flourishes, certain challenges remain. The lack of awareness about MV system benefits and a shortage of experts to operate these systems effectively hinder the market's overall development. Additionally, the absence of standardization and complexities associated with implementation are obstacles to MV system adoption. Nevertheless, the report emphasizes the potential opportunities for growth, driven by the growing automation in industrial applications and the integration of machine vision with the Industrial Internet of Things (IIoT). The development of CMOS image sensors further opens new avenues for the studied market.

Region-Wise Outlook:

The report covers key regions, including Latin America, Europe, the Asia-Pacific, North America, and the Middle East and Africa. The Asia-Pacific is projected to emerge as the fastest-growing region in the global market. The region's growth is attributed to the increasing need to reduce ownership costs, enhance productivity, and achieve higher accuracy. Furthermore, industrial sectors are witnessing a surge in demand due to increased outsourcing of activities to major countries within the Asia-Pacific region.

Competitive Landscape:

The report profiles several prominent enterprises in the machine vision market, including Jai AS, Baumer Electric AG, Basler AG, Keyence Corporation, National Instruments Corporation (NI), Teledyne Technologies Incorporated, Optotune AG, FLIR Systems Inc, USS Vision, ISRA Vision AG, Datalogic SpA, Omron Corporation, Allied Vision Technologies GmbH, Cognex Corporation, and Perceptron Inc.

Key Topics Covered:

1. Global Machine Vision Market - Summary

2. Industry Outlook
2.1. Impact Analysis on the Global Machine Vision Market
2.2. Porter's Five Forces Analysis
2.3. Market Maturity Analysis
2.4. Key Impact Analysis
2.5. Key Market Strategies
2.6. Market Drivers
2.6.1. Increased Need for Smart Factories
2.6.2. Widening Applications of MV Systems
2.6.3. Rising Need for Proper Defect Detection
2.6.4. Trend of Miniaturized Products
2.7. Market Challenges
2.7.1. Lack of Expertise
2.7.2. Unawareness About the Benefits of Machine Vision Systems
2.7.3. Complications Associated With the Implementation of MV Systems
2.7.4. Lack of Standardization
2.8. Market Opportunities
2.8.1. Continuous Development of CMOs Image Sensors
2.8.2. Adoption of Industrial Internet of Things (IIot)
2.8.3. Integration of Machine Vision With Cloud Technology
2.8.4. Growing Automation in Industrial Applications

3. Global Machine Vision Market - by Type
3.1. 1D Machine Vision
3.2. 2D Machine Vision
3.3. 3D Machine Vision

4. Global Machine Vision Market - by Component
4.1. Hardware
4.1.1. ASMV
4.1.2. Cameras
4.1.3. Sensors
4.1.4. Illuminations
4.1.5. Processors
4.1.6. Other Hardware Components
4.2. Software

5. Global Machine Vision Market - by Application
5.1. Inspection
5.2. Gauging
5.3. Guidance
5.4. Identification
5.5. Other Applications

6. Global Machine Vision Market - by Vertical
6.1. Automotive
6.2. Electronics & Semiconductors
6.3. Healthcare
6.4. Food & Packaging
6.5. Other Verticals

7. Global Machine Vision Market - Regional Outlook

8. Company Profiles

  • Cognex Corporation
  • Allied Vision Technologies GmbH
  • Basler AG
  • Teledyne Technologies Incorporated
  • Baumer Electric AG
  • Datalogic Spa
  • USS Vision
  • Keyence Corporation
  • FLIR Systems Inc
  • Jai As
  • Perceptron Inc
  • Optotune AG
  • ISRA Vision AG
  • Omron Corporation
  • National Instruments Corporation (Ni)

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