The global machine vision market size is expected to reach USD 20.3 billion in 2030 and register a revenue CAGR of 7.1% over the forecast period, according to the latest report by Emergen. Increasing requirement for automation and quality inspection is driving global machine vision market revenue growth. Machine vision has several advantages in automation. Machine vision inspection is widely recognized as a critical component of production line automation. The use of inline inspection lowers manufacturing costs, improves customer satisfaction, and eliminates waste. It is essential for maintaining product and batch integrity, as well as avoiding batch mix.
Machine vision systems are also widely used in vision-guided robotics systems The advancement of industrial robots has significantly increased the efficiency of manufacturing. While individuals still change jigs or settings according to a plan, calibrate the system, and run tests and revisions before commencing production, vision-guided robots are gaining traction as a method to eliminate this time-consuming task.
The latest market intelligence report broadly assesses this ever-evolving business sphere and simultaneously elaborates on the production and consumption aspects. The study analyzes numerous indispensable factors, including market growth drivers, opportunities, restraints, and challenges, which are presumed to impact the global market growth in the next few years. The SWOT and Porter’s Five Forces analyses performed in this report assist the reader in understanding the competitive hierarchy of the Machine Vision market.
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Key Highlights From the Report
On 25 May 2022, PIXM released a new computer vision solution for mobile phishing. PIXM mobile uses computer vision tech to identify and stop phishing attacks on mobile devices in real-time, as a user clicks on a malicious link.
The hardware segment is expected to account for a larger revenue share during the forecast period owing to the availability of new and advanced hardware in the market. The hardware of a machine vision system is the most apparent component. The two forms of hardware architecture are external and integrated hardware.
The type of examination and the speed with which it is carried out are important considerations when selecting hardware. Machine vision edge computing currently has powerful and diverse hardware on the market. Vision systems can benefit from edge computing to improve reaction time, handle many interfaces, and execute complex processing.
The robotics cell segment is expected to register a rapid growth rate during the forecast period owing to their cost effectiveness and ability to handle a large number of product variants as components, which are changed without stopping production by simply changing the robot program and inspection software. In addition, the robot vision cell offers the best learning environment for robotics and vision.
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The report further studies the key companies operating in the industry and their company profiles, product portfolio, expansion strategies, and strategic alliances such as mergers and acquisitions, collaborations, and joint ventures, among others. It also offers insights into their market reach and global position, along with highlights about their achievements and financial standings.
Key Market Players:
Cognex Corporation, Basler AG, Omron Corporation, Keyence Corporation, Teledyne Technologies Incorporated, TKH Group, National Instruments Corp., Sony Corporation, Texas Instruments Incorporated, and Intel Corporation.
The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the Machine Vision industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
Type Outlook (Revenue, USD Billion; 2017-2027)
Biodegradable
Polybutylene Adipate Terephthalate (PBAT)
Polybutylene Succinate (PBS)
Polylactic Acid (PLA)
Polyhydroxyalkanoate (PHA)
Starch Blends
Others
Non-Biodegradable
Polyethylene (PE)
Polyamide (PA)
Polyethylene Terephthalate (PET)
Polytrimethylene Terephthalate (PTT)
Polypropylene (PP)
Others
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
Online
Offline
Application Outlook (Revenue, USD Billion; 2017-2027)
Packaging
Textile
Automotive & Transportation
Consumer Goods
Agriculture
Building & Construction
Others
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Regional Analysis:
The report further examines the market in the key regions of the world with regard to production and consumption patterns, import/export, supply and demand ratio, revenue generation, market share and size, and presence of prominent players in the regions. The report also covers the expansion plans undertaken by companies in the regions under the regional analysis section.
Major Geographies Enumerated in the Report:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Major Highlights:
The report scrutinizes the various manufacturing processes of this industry’s products and services, besides determining the consumption volume and patterns of the product varieties.
It ascertains the respective market shares and revenue contribution of each regional segment of the Machine Vision market.
The report endows the reader with vital insights into the production capacity, estimated growth, and revenues shares amassed by the significant market regions during the forecast timeframe.
The report expands on the competitive spectrum of the global Machine Vision market, specifically focusing on the company profiles of the top market competitors.
The study, therefore, gathers crucial market information, such as total revenue generated, product pricing patterns, and the anticipated CAGR.
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