Market Highlights:
The global industrial vision market is anticipated to reach approximately USD 11 billion at phenomenal CAGR of 14% during the forecast period (2017-2023), confirms Market Research Future (MRFR) in its detailed report. Machine vision technology has made its presence felt in various industries and has grown into a sizable global market. The primary factor responsible for this growth is the ability of machine vision systems to process a vast amount of information in a fraction of seconds.
The future vision of different industries is discussed and the upcoming computer technology vision is shared. Industrial applications of computer vision is the automated detection and classification of surface defects. Some types of surface, such as those that are highly reflective or transparent, require the execution of custom-made systems for automated assessments.
Global machine vision market has numerous advantages, it includes, high-end machine systems that are capable of performing numerous number of robust preprocessing and segmentation algorithms. These systems perform multiple preprocessing and segmentation algorithms at real-time rates using as the basis of their designs, application-specific integrated circuits. These systems are distinct from those referred to as smart cameras, embedded vision computers/processors or host-based processing systems that employ simple digital cameras that deliver image data to the host directly.
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Major Key Players:
- LMI Technologies (U.S),
- Adept Technologies Inc. (U.S),
- Teledyne Dalsa (U.S),
- Cognex Corporation (U.S),
- Basler AG (Germany),
- Pixelink (U.S).
Basler AG has signed a joint venture agreement with its distributor, Beijing Sanbao Xingye (MVLZ) Image Tech. Co. Limited. Beijing. Sanbao Xingye (MVLZ) Image Tech. Co. distributes image processing components and also consults its customers in machine vision and scientific imaging. Both companies have decided to transfer the machine vision division to the newly established Beijing-based Basler China.
According to MRFR, the global Industrial Vision Market is growing rapidly over 14% of CAGR and is expected to reach at USD 11 billion by the end of forecast period.
Regional Analysis:
The industrial vision market is geographically segmented on the basis of Asia Pacific, North America, Europe and Rest of the World (RoW).
MRFR notes that North America has the largest market share in global industrial vision market, due to advanced technology being implemented in industries. The market in North America is fuelled by an augmented need for quality inspection and growing demand from multiple end-user industries for vision machine technology. Moreover, presence of well-established companies and continuous mergers and other business strategies adopted by them buoys the market trajectory in the region.
On the other hand, Asia-Pacific is surging with a high growth rate in the market on account of major revenue generating countries such as China, Japan, India and South Korea in the region. Also, the Asia-Pacific region is a major supplier of components such as sensors, cameras, and other hardware generally used in machine vision. Demand for machine vision will increase in coming years in sectors like foods and beverages, semiconductor, security, and surveillance. These factors prove fruitful for the market growth in this region.
Europe is also one of the top players in the global market due to the presence of major automotive manufacturers in the region. The Europe market is flourishing owing to growing need for quality inspection and the prevalent trend of product miniaturization in the region. Increasing investment for both research and product innovation by manufacturers has been noted in the region due to which the market is poised for long-term growth. Moreover, strong economic state and high disposable income of the large population in the region also affect long-term market expansion.
Segmentation:
The global industrial vision market can be segmented on the basis of product, it comprises of PC based and embedded. Embedded system continuously performs the same basic tasks, it rarely needs any hardware changes such as adding extra memory or storage space. Embedded system usually performs a simple role that does not change, the requirements for the operating system. Often an embedded system can run on older or less sophisticated operating system and won’t require updating. For example, devices such as ATMs and airplane seat-back entertainment displays.
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Intended Audience
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- IT Solution Providers
- Automotive Manufacturers
- Original Equipment Manufacturers
LIST OF TABLES
Table 1 Global Industrial Vision Market, By Product
Table 2 Global Industrial Vision Market, By Component
Table 3 Global Industrial Vision Market, By Technology
Table 4 Global Industrial Vision Market, By Vertical
Table 5 Global Industrial Vision Market, By Region
Table 6 North America Industrial Vision Market, By Product
Table 7 North America Industrial Vision Market, By Component
Table 8 North America Industrial Vision Market, By Technology
Table 9 North America Industrial Vision Market, By Vertical
Continued……
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