Dublin, Nov. 23, 2022 (GLOBE NEWSWIRE) -- The "Automotive Machine Vision Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Component, By Vehicle Type, By Vehicle Autonomy, By Region" report has been added to ResearchAndMarkets.com's offering.
The global automotive machine vision market is projected to grow at a significant rate during the forecast period, 2023-2027
The market growth can be attributed to the growing automation processes in the automotive industry and rise in demand for quality inspection and automation.
Besides, high production and sales of automobiles and advancements in manufacturing technologies are anticipated to fuel the growth of the automotive machine vision market. Moreover, a surge in demand for application-oriented machine vision systems and the rising adoption of technology in automobiles are propelling the global automotive machine vision market growth.
Machine vision is a computer's ability to see; it makes use of one or more video cameras, analog-to-digital conversion (ADC), and digital signal processing (DSP). The resulting information is sent to a computer or robot controller. The complexity of machine vision is comparable to that of voice recognition.
It is a technology and methods used in industry to provide imaging-based automatic inspection and analysis for applications such as automatic inspection, process control, and robot guidance. The use of this technology in automobiles is known as automotive machine vision.
Automotive machine vision technology has been adopted by manufacturing players all over the world due to the benefits of machine vision systems, particularly in areas where redundant tasks, such as inspection, must be performed with precision. Automotive machine vision plays a critical role in high-speed production lines and hazardous environments. Increased productivity, reduced machine downtime, and tight process control are also some advantages of automotive machine vision technology.
In the next five years, the global automotive machine vision market will grow due to increased research and development of self-driving cars. Extensive research is being conducted based on vehicle autonomy for the development of level 4/5 vehicle autonomy for further advancement in self-driving cars. Higher investments in these advancements bolster the global automotive machine's growth.
The global automotive machine vision market can be segmented on the basis of component, vehicle type, vehicle autonomy, regional distribution, and competitive landscape. Based on component, the market is differentiated between hardware and software. The hardware segment is anticipated to hold the largest share in the global automotive machine vision market, owing to the development and adoption of AI-based cameras as they offer safety to the drivers.
Key players operating in the global automotive machine market are CXV Global Ltd., Stemmer Imaging AG, Keyence Corporation, Mech-Mind Robotics Technologies Ltd., AlwaysAI, Inc., among others.
Objective of the Study:
- To analyze the historical growth in the market size of the global automotive machine vision from 2017 to 2021.
- To estimate and forecast the market size of global automotive machine vision market from 2023 to 2027 and growth rate until 2027.
- To classify and forecast the global automotive machine vision market based on component, vehicle type, vehicle automony, region, and company.
- To identify the dominant region or segment in the global automotive machine vision market.
- To identify drivers and challenges for the global automotive machine vision market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global automotive machine vision market.
- To identify and analyze the profiles of leading players operating in the global automotive machine vision market.
- To identify key sustainable strategies adopted by market players in global automotive machine vision market.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global automotive machine vision market.
- CXV Global Ltd.
- Stemmer Imaging AG
- Keyence Corporation
- Mech-Mind Robotics Technologies Ltd.
- AlwaysAI, Inc.
Report Scope:
Years considered for this report:
- Historical Years: 2017-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Period: 2023-2027
Automotive Machine Vision Market, By Component:
- Hardware
- Software
Automotive Machine Vision Market, By Vehicle Type:
- Passenger Car
- Commercial Vehicle
Automotive Machine Vision Market, By Vehicle Autonomy:
- Level 1
- Level 2
- Level 3
- Level4/5
Automotive Machine Vision Market, By Region:
- North America
- United States
- Mexico
- Canada
- Asia-Pacific
- China
- India
- Japan
- Malaysia
- Thailand
- Indonesia
- Vietnam
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- Belgium
- Russia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Turkey
- Iran
- Egypt
For more information about this report visit https://www.researchandmarkets.com/r/spndfv
