The machine vision market is expected to reach a value of US$18.4 billion by 2027, growing at a CAGR of 9.7% during the period 2022-2027.
SHERIDAN, WYOMING, USA, May 12, 2022 /EINPresswire.com/ — According to the latest report of the IMARC group, entitled “Machine vision market analysis: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global machine vision market reached a value of US$11.1 billion in 2021. Machine vision refers to a technology generally used for evaluating, inspecting and identifying defects. It involves the use of video cameras, digital signal processing (DSP) and analog-to-digital conversion (ADC) which help to observe several machine processes. It is widely used in a wide range of applications, such as signature identification, electronic component analysis, material inspection, optical character recognition, medical image and pattern detection, handwriting, and object recognition. . As a result, it offers many advantages, including increased productivity and production flexibility and reduced floor space while minimizing production costs. the aforementioned factors, the market is expected to reach a value of US$18.4 billion by 2027, expanding at a CAGR of 9.7% during the period 2022-2027.
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Major companies in the machine vision industry:
• Cognex Corporation
• Basel AG
• Omron Corporation
• National Instruments Corporation
• Keyence Corporation
• Sony Corporation
• Teledyne Technologies, Inc.
• Texas Instruments, Inc.
• Allied Vision Technologies GmbH
• Intel Company
• Baumer Optronic GmbH
• Jai A/S
Global machine vision market trends:
The global market is mainly driven by continuous technological advancements in the industrial sector. Coupled with the integration and implementation of the deep learning method with computer vision to provide assistance in the subjective decision-making process, this creates a positive market outlook. Additionally, the widespread use of computer vision to correct defects in the production line and reduce manual involvement in production processes across the manufacturing industry is further propelling the growth of the market. With this in mind, the increasing adoption of machine vision methods for inventory control management, product tracking and tracing, and measurement and calibration in industrial plants is another major growth driver. Additionally, increasing investments in infrastructure development projects are driving the demand for machine vision techniques to improve safety on construction sites. Other factors, including rapid industrialization, growing concerns about workforce safety, and extensive research and development (R&D) activities by key players, are also positively influencing product demand.
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Key Market Segmentation:
Breakdown by product:
• Vision systems
Breakdown by component:
Breakdown by application:
• The measure
• Fault detection
Breakdown by industry:
• Electronics and semiconductor
• Medical and pharmaceutical
• Food, packaging and printing
• Security and monitoring
• Intelligent traffic system
Breakdown by region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia-Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, others)
Table of Contents of Machine Vision Market Research Report:
• Scope and methodology
• Global machine vision market
• SWOT analysis
• Value chain analysis
• Price analysis
• Competitive landscape
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