Dublin, Jan. 29, 2021 (GLOBE NEWSWIRE) -- The "Machine Vision Laser Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type, Application, and End User" report has been added to ResearchAndMarkets.com's offering.
According to this report the global machine vision laser market was valued at US$ 3,711.3 million in 2019 and is projected to reach US$ 7,144.4 million by 2027; it is expected to grow at a CAGR of 8.5% from 2020 to 2027.
In 2019, APAC led the global machine vision laser market with 11.3% revenue share, followed by Europe and North America. The market in APAC is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC. APAC is well known for technological innovations happening in these countries. Stable economies and technological advancements support the growth of various markets in the region. China, Japan, India, and South Korea have a few of the largest manufacturing facilities, wherein automation of manufacturing processes has been the highest priority. Also, strong competition among manufacturers boosts the adoption of machine vision lasers in the region. Industrialization in countries such as China and India are growing at a significant pace. China is the world's largest manufacturing powerhouse, and it produces ~50% of its major industrial goods. APAC consists of the world's most esteemed vehicle manufacturers, and the automotive industry generates a huge number of automobile sales with high production levels.
In 2019, Europe stood second in the machine vision laser market with a decent market share, and it is anticipated to witness a steady CAGR from 2020 to 2027. The capital invested in technology in the region is expected to grow at a CAGR of 8.3% from 2019 to 2027, to reach US$ 1410.9 billion of capital investment in 2019. The auto industry in Europe generates US$ 87 billion for the EU economy. In the automotive sector, machine vision lasers provide improved accuracy in picking and positioning parts of automobiles. Manufacturers are focusing on automating their production processes due to the shortage of skilled labor and lowering the manufacturing prices of automobiles. Machine vision laser has the potential to transform production for increased throughput, quality, and productivity. The food industry is also one of the major industries in Europe.
In this industry, automation helps reduce the contamination risks and benefits both customer and manufacturer. Automotive and electronics are among the industries driving the European market. The automotive industry requires a warehouse for storage and assembling purposes. These warehouses are equipped with robots with machine vision lasers that can perform various tasks such as inspection, verification, reading of character blocks on the engine.
Companies adopt inorganic strategies to expand their footprints across the world and meet the growing demand from end users. The well-established firms adopt the strategy of acquisition and collaboration with various companies to enhance their capabilities and expand its footprint in different geographies. For instance, in 2019, Cognex Corporation announced the acquisition of SUALAB, a Korean-based developer of vision software using deep learning for industrial applications.
Impact of COVID-19 Pandemic on Machine Vision Laser Market
The COVID-19 epidemic is disrupting supply chain and logistics across the world. Countries across the globe are continuing to combat the outbreak and control community spread. Companies are focusing on automating their business operations with a major goal to reduce their production costs. Due to the lockdown and social distancing norms across countries, companies are facing economic issues. These are delaying the new projects that need the implementation of machine vision laser systems in their factories. Several manufacturing companies are halting their production, which is hindering the machine vision laser market. Manufacturing companies across the countries are planning to invest more in automation post-COVID-19 pandemic. Moroever, to ensure less human intervention, the need for automated quality assurance has increased among industries amid the COVID-19 outbreak.
Reasons to Buy:
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the machine vision laser market, thereby allowing players to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect technology and solution type.
Key Topics Covered:
1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Global Machine Vision Laser Market - By Type
1.3.2 Global Machine Vision Laser Market - By Application
1.3.3 Global Machine Vision Laser Market - By End User
1.3.4 Global Machine Vision Laser Market - By Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Machine Vision Laser Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe - PEST Analysis
4.2.3 Asia-Pacific - PEST Analysis
4.2.4 Middle East & Africa - PEST Analysis
4.2.5 South America - PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. Machine Vision Laser Market - Key Industry Dynamics
5.1 Key Drivers
5.1.1 Growing Demand for Laser-Based Machine Vision Technologies
5.1.2 Increasing Demand for Smart Machine Vision Systems
5.2 Key Market Restraints
5.2.1 Varying End-User Requirements
5.3 Key Market Opportunities:
5.3.1 Growing Automation in Industrial Sector
5.4 Key Trends:
5.4.1 Growing Use of Robotics in Automation
5.5 Impact Analysis of Drivers and Restraints
6. Machine Vision Laser - Global Market Analysis
6.1 Overview
6.2 Global Machine Vision Laser Market Revenue and Forecasts To 2027 (US$ Mn)
6.3 Market Positioning - Five Key Players
7. Machine Vision Laser Market Analysis - By Type
7.1 Overview
7.2 Machine Vision Laser Market Breakdown, By Type, 2018 & 2027
7.3 Smart Machine Vision Laser
7.3.1 Overview
7.3.2 Smart Machine Vision Laser Market Revenue and Forecasts to 2027 (US$ Mn)
7.4 3D Machine Vision Laser Market
7.4.1 Overview
7.4.2 3D Machine Vision Laser Market Revenue and Forecasts to 2027 (US$ Mn)
7.5 PC-Based Machine Vision Laser
7.5.1 Overview
7.5.2 PC-Based Machine Vision Laser Market Revenue and Forecasts to 2027 (US$ Mn)
8. Machine Vision Laser Market Analysis - By Application
8.1 Overview
8.2 Global Machine Vision Laser Market Breakdown, By Application, 2018 & 2027
8.3 Process Control
8.3.1 Overview
8.3.2 Process Control Market Revenue and Forecasts to 2027 (US$ Mn)
8.4 Automatic Inspection
8.4.1 Overview
8.4.2 Automatic Inspection Market Revenue and Forecasts to 2027 (US$ Mn)
8.5 Industrial Inspection
8.5.1 Overview
8.5.2 Industrial Inspection Market Revenue and Forecasts to 2027 (US$ Mn)
8.6 Others
8.6.1 Overview
8.6.2 Others Market Revenue and Forecasts to 2027 (US$ Mn)
9. Machine Vision Laser Market Analysis - By End User
9.1 Overview
9.2 Global Machine Vision Laser Market Breakdown, By End User, 2018 & 2027
9.3 Automotive
9.3.1 Overview
9.3.2 Automotive Market Revenue and Forecasts to 2027 (US$ Mn)
9.4 Electronics & Semiconductor
9.4.1 Overview
9.4.2 Electronics & Semiconductor Market Revenue and Forecasts to 2027 (US$ Mn)
9.5 Food and Beverages
9.5.1 Overview
9.5.2 Food and Beverages Market Revenue and Forecasts to 2027 (US$ Mn)
9.6 Pharmaceuticals
9.6.1 Overview
9.6.2 Pharmaceuticals Market Revenue and Forecasts to 2027 (US$ Mn)
9.7 Logistics
9.7.1 Overview
9.7.2 Logistics Market Revenue and Forecasts to 2027 (US$ Mn)
9.8 Others
9.8.1 Overview
9.8.2 Others Market Revenue and Forecasts to 2027 (US$ Mn)
10. Machine Vision Laser Market - Geographic Analysis
10.1 Overview
10.2 North America: Machine Vision Laser Market
10.3 Europe: Machine Vision Laser Market
10.4 APAC: Machine Vision Laser Market
10.5 MEA: Machine Vision Laser Market
10.6 SAM: Machine Vision Laser Market
11. Machine Vision Laser Market - COVID-19 Impact Analysis
11.1 Overview
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 Middle East and Africa
11.6 South America
12. Industry Landscape
12.1 Market Initiative
12.2 Merger and Acquisition
12.3 New Development
13. Company Profiles
13.1 Cavitar Ltd
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Cognex Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Laserex
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 ProPhotonix
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 RAYLASE GMBH
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 RPMC Lasers
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 STEMMER IMAGING AG
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Z-LASER GmbH
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 LASER COMPONENTS
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Keyence Corporation
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Publisher
14.2 Glossary
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