Machine Vision Market – Insight
Machine Vision (MV) refers to the electronic imaging used for process control, inspection getting the automatic guidance. The term MV encompasses several technologies, software and hardware solutions, integrated systems, methods, expertise and actions. Alike conventional Industrial Applications, MV capabilities are extended to Augmented Reality & Virtual Reality as well. Similarly, MV enables ADAS (Advanced Driver Assist Systems), & Smart Security Systems to perceive extensive digital-imaging capabilities to efficiently deliver in low or no light conditions, consuming low battery power without interfering human activity all at once.
Diversified applications are allowing Machine Vision to garner huge traction enabling its Market to grow rapidly. Also, the latest trend of miniaturization of optical and electronic devices is augmenting demand for image processing eventually fostering the MV market growth. Space Robots dictating need for Machine Vision Cameras to see like humans are increasingly becoming reality. Evidently, leading players mentioned above account for the driving force behind the innovations MV witnesses today.
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Acknowledging the seminal work of these players, Market Research Future has recently published a Study report signifying market insights till 2022. In its analysis MRFR asserts that the ever flourishing global market of Machine Vision will garner accruals of USD 15.46 Billion registering a CAGR of 8.18% during 2017-2022.
Machine Vision experiences applications in diversified areas like Hyper spectral cameras allowing combination of spectroscopy and digital imaging explains the market growth. Hyper spectral imaging is extensively used by the military surveillance sector. Similarly adoption of Hyper spectral in various sectors like Mining & Mineralogy, healthcare and Environment Testing fosters the market growth.
Conversely, expensive hyperspectral cameras along with the associated complexities of processing and analyzing imaging data might pose challenges to the market growth. Nevertheless, Smart City Projects where Machine Vision systems are increasingly deployed in the solutions ensuring security and safety including advanced vision technologies will provide immense impetus to the MV market growth.
Key Players
The prominent players in the market of Machine Vision Market are – Cognex Corporation (U.S.), Vitronic GmbH (Germany), Perceptron, Inc. (U.S.), Microscan Systems (U.S.), Basler AG (Germany.), National Instruments (U.S.), Optotune AG (Switzerland), USS Vision (U.S.), ViDi Systems SA (Switzerland), Keyence (Japan), Omron Corporation (Japan) among others.
Machine Vision Global Market – Segmentation
- Segmentation by Type: 1D machine vision, 2D machine vision, 3D machine vision.
- Segmentation by Application: Inspection, gauging, guidance, identification.
- Segmentation by Component: hardware (ASMV, Cameras, Sensors, illuminations, processors), software.
- Segmentation by End User: Automotive, electronics & semiconductor, healthcare, food & packaging.
Machine Vision Global Market – Regional Analysis
The market of the machine vision is dominated by the Asia Pacific region. This region comprises of countries like China, Japan, which are far advanced in machine vision technologies as there is a large presence of electronic manufacturing companies which are investing a huge amount in research & development. Also, the Asia Pacific possesses to be a hub of robotics and machine learning technology. Europe is the second largest market after Asia pacific. The region comprise of many of the key players in this market like Vitronic, Basler AG, ViDi Systems SA, and Optotune AG. Another factor that drive the growth of the market in Europe is the collaboration of ABB group with Vion and Samsung to uses Vion’s technology in machine vision for people counting and development of smart cities. However, North America is the third largest dominating region and is expected to grow at a fast rate during the period of forecast.
Industry/ Innovation/ Related News
January 23, 2018 – Industrial Sensor Vision International Corporation (ISVI – US) designer and manufacturer of high-resolution, high-speed camera technology announced Framos (a well positioned machine vision industry leader) as its global distributor of its products. Together with Framos’ knowledge to enable machines to see and think, ISVI is looking forward to provide broad scale imaging innovation.
January 29, 2018 – Himax Technologies, Inc. (US) a leading supplier and manufacturer of display drivers and other semiconductor products, also offering digital camera solutions, including 3D sensing and machine vision, used in variety of applications such as IoT & etc. announced the acquisition of a technology company – Nano 3D (US) mastering assets, related to intellectual property & business
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