The global machine vision market was worth USD 29.9 Billion in 2019 and is projected to reach USD 74.78 Billion by 2027. This represents an 11.5% CAGR from 2020-2027.
According to Machine Vision, Market trends automatically analyze an image to provide desired information to control machines and processes. It automatically extracts data from digital images to improve controlling processes or quality. Manufacturers prefer machine vision over human inspectors because it can perform repetitive inspection tasks more effectively. It works continuously, is more objective, faster, and is easier to use. Machine vision can quickly check hundreds or even thousands of components. Results of inspections are now more dependable and consistent as a consequence.
The system analyses and inspects production lines based on images in process control, verification, measurement, and other functions. The machine vision solution includes everything from the acquisition of an image to interaction with a management information system. These systems can replace human inspectors who cannot recognize errors for long periods.
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Machine Vision Market: Drivers
There is a growing need for automation and quality inspection
Manufacturing companies worldwide have pledged to invest more in automation following COVID-19. As companies have realized the importance of quality assurance in production processes and automation, the demand for it has increased. This need has been exacerbated by the COVID-19 epidemic, which has reduced human interference in many functions. Machine vision has become an integral part of long-term automation project design. Machine vision can help uncover defects in automated manufacturing operations in a very short time.
This reduces prices and improves reaction times. It helps to detect defective items and lowers the risk of the product return. This increases consumer satisfaction. This technology allows all products to be checked on the production lines equally and with the exact same concentration. This has increased the demand for machine vision services in quality assurance. The products can be reworked in the event of defects. This is the costliest factor. According to Forbes, machine learning can increase the rate of problem identification by up to 90%.
Growing demand for vision-guided robotic systems
Vision-guided robotics has made significant improvements in machine vision. The use of industrial robotics to automate has increased in both the automotive and consumer electronics sectors. Machine Visions that can be integrated with vision-guided robotic controllers are in high demand. Machine Visions increase efficiency by allowing robots to view and adapt to their environment.
Vision-guided robotics systems can recognize multiple models and ensure the correct vehicle assembly. When a robot sprays adhesive beading, a Machine Vision can confirm that there are no gaps. Vision-guided robots can be used in shared spaces without safety barriers and avoid collisions.
Machine Vision Market: Restraints
Restraints: Insufficient Skilled Professionals, Daily Required Maintenance
Machine Visions enable precise, fast, and precise control. They also allow for better manufacturing and delivery reliability. These systems are dependent on their upkeep. They require regular maintenance and close monitoring to ensure their reliability. This equipment is sophisticated and has automation, so the maintenance investment is significant. These expenses include installation and purchase charges.
This sector is also facing a shortage of qualified workers. The industry lacks qualified professionals, so operators and employees are trained. Inspecting multiple products with the same smart camera can also be difficult. Skilled people are therefore required. A Machine Vision requires specialized equipment knowledge. This limitation will be reduced due to the increased penetration of various industries.
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Machine Vision Market Key Trends:
Automotive Sector to Hold a Significant Part Machine vision in the automotive industry aims to improve product quality and productivity. This sector has two main applications for these systems: quality inspections and machine direction. These systems can inspect the quality of parts and subassemblies for defects or non-defectives. Based on this feedback, it then directs the motion control equipment to accept or reject the particular component. Machine vision is used in machine guidance systems to improve the speed and accuracy of assembly robots. It also plays a vital role in engine chassis marriage operations.
Autonomous vehicles are a new trend in the automotive industry. This is to keep up with the demands of a connected, fast-paced society. Most of the major automotive OEMs are investing heavily in developing autonomous vehicles. Autonomous cars will have machine vision cameras and the associated technology to recognize and avoid potential hazards.
Recent development:
November 2018 – Inspekto introduces the S70 Autonomous Machine Vision. The S70 system can be installed in as little as 30-60 minutes and is much faster than traditional machine vision systems. Manufacturing plants can easily install the S70 system anywhere on their production lines, and then move it around in minutes.
August 2021 OMRON Corporation’s new “VT-10 Series” PCB inspection system automates quality checks on electronic circuits.
March 2021 Cognex has released the DataMan 8700 Series handheld scanners. This is the latest generation, built on a completely different platform. The device is extremely efficient and easy to use.
May 2019, Stemmer Imaging expanded its international reach by acquiring Infaimon S.L.
Scope of the Report
| Attribute | Details |
| Market Size in 2027 | USD 74.78 Billion |
| Growth Rate | CAGR of 11.5% |
| Historical Years | 2016-2020 |
| Base Year | 2021 |
| Quantitative Units | USD In Bn |
| No. of Pages in Report | 200+ Pages |
| No. of Tables & Figures | 150+ |
| Format | PDF/Excel |
| Direct Order This Report | Available- To Purchase This Premium Report Click Here |
Key Market Players:
- Cognex
- Basler
- Omron
- National Instruments
- Keyence
- Sony
- Teledyne Technologies
- Texas Instruments
- Allied Vision Technologies
- Intel
- Baumer Optronic
Type
- Hardware (Camera, Frame Grabber, Optics, Processor)
- Software (Deep Learning and Application Specific)
Application
- Semiconductor Industry
- Food Industry
- Logistics
- Agricultural
- Other
Industry, By Region
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- Middle East & Africa [GCC, North Africa, South Africa]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
Key questions:
- What was the global machine vision market’s market value in 2020?
- Which application is growing the fastest in the global machine-vision market?
- What are the major regional markets for the global machine vision market?
- What are the most important end-use industries for global machine vision?
- What CAGR will the market grow in the next years?
- What are the leading companies in the global market?
- What are the top growth strategies for Machine Vision Market players?
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