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The Global Machine Vision (MV) Camera Market size is estimated to grow by USD 1.74 billion between 2023 and 2028, accelerating at a CAGR of 9.31%. The market's growth is driven by several key factors, including the rising demand for machine vision (MV) systems in non-industrial sectors and their increasing adoption in medical and life science research. Additionally, there is a significant surge in demand for vision-guided industrial robots, particularly in the APAC region. These systems are becoming integral to enhancing precision and efficiency in various applications, from medical diagnostics to automated manufacturing processes. As industries continue to recognize the benefits of advanced MV systems, such as improved accuracy and reduced operational costs, the market is expected to experience robust growth. Overall, the convergence of these trends highlights the expanding role of machine vision technology across diverse sectors and regions.
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The market is propelled by the increasing adoption of advanced technologies like Meraki cameras, including the Meraki MV2 series, facilitating position guidance, measurement, and identification tasks. Enhanced capabilities in pattern recognition further augment its utility across various industries. The market witnesses a surge in demand for diverse camera types, from PC based, CMS cameras, SVS cameras, wearable cameras and wireless cameras to wearable and parking camera, catering to varied application needs. Challenges lie in maximizing production capacity to meet escalating demands and ensuring seamless integration with existing systems. Additionally, strategic partnerships play a crucial role in expanding the market's presence internationally while advancements in 3D imaging cameras and barcode scanner technologies drive innovation. However, addressing issues related to security and privacy remains essential amid growing concerns over data protection and surveillance. The market is driven by the demand for versatile solutions like mobile systems, desktop systems, and handheld systems, with diverse lens types such as wide-angle and normal lenses meeting various industry needs while addressing technological challenges. Our researchers studied the market research and growth data for years, with 2023 as the base year along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Researchers around the world are realizing the benefits of cell imaging tools for life science and medical research. Cellular imaging is a technique that creates a visual representation inside the body for clinical analysis and medical intervention and aids in preliminary analysis and detection of diseased tissue. This procedure is non-invasive and valuable for analyzing cells in real-time. Integrated cell imaging systems create high-resolution 3D cell culture models in the drug discovery process.
They are commonly used in medical, microscopy, and life science applications. These camera enhance the sensitivity of interference microscopy necessary to analyze biophysical properties at the single-cell level, enabling researchers to analyze these properties under different pathophysiological conditions and in response to different treatments. These are also used to detect metastases in ovarian tissue during cancer diagnosis and treatment. These factors will drive the growth of the market during the forecast period.
Smart cameras often support MCV by digitizing and transmitting still images for computer analysis. A smart camera has a single embedded image sensor. They are typically designed specifically for specialized applications where space constraints require a small footprint. As a complement to a multipart MCV or as a standalone image processing unit, smart cameras are used for various automation functions.
Further, easy-to-use smart cameras are a good choice for streamlining automation methods and integrating vision systems into manufacturing workflows. Smart cameras are in high demand in industrial production, often used for inspection and quality assurance. Hence, increasing demand drives the market in various industrial applications.
The high cost of implementing machine vision cameras can majorly impede the growth of the market. The systems use, software, and advanced technology. The overall price of these systems is rather high and requires a high initial cost. This poses a major obstacle for end-users, especially small and medium enterprises (SMEs) in both developed and developing countries. Costs also increase due to customization and other operational requirements based on the intended use of multiple cameras in industrial applications. To deploy a vision system, the end user customizes the vision system to the application being deployed. Aside from the maintenance costs associated with tuning these systems, the base price of smart cameras is also higher. That's because smart cameras are equipped with advanced technology to deliver sharp, accurate images and automatically adjust lights and sensors to precisely focus images. Smart cameras are used to take advantage of experience to get clear and accurate images. While demand for smart cameras is high, companies find it difficult to produce smart cameras at a low cost.
Moreover, many companies offer smart cameras, but few companies offer sensors in the market. Two cameras with the same number of pixels can have different sharpness, making it difficult for camera sellers to produce a sensitive and sharp camera at a low cost. Increased competition also makes it harder for companies to sell their cameras at higher prices. This is because the market is not concentrated enough for companies to use their brand image to sell cameras at high prices. Therefore, high implementation costs negatively impact production costs, thereby reducing vendor profit margins and hampering the market growth during the forecast period.
The PC-based camera segment will contribute majorly to the market, as it easily interfaces with image acquisition boards. PC-based systems easily interface with direct-attached cameras and image capture cards and are fully supported by configurable vision application software. PC-based vision cameras have efficient processing power and can handle complex operations at high speed. This wide range of performances also allows the PC system to compensate for unexpected variables in specific tasks.
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The PC-based camera segment showed a gradual increase in market share with USD 1.33 billion in 2018. In addition, suppliers introduce new products to the market. For example, Omron Automation Americas announced a complete solution package that can be easily installed on any PC-based system. The new FJ2 camera features a state-of-the-art Complementary Metal Oxide Semiconductor (CMOS) sensor, frame rates of up to 282 frames per second (FPS), and resolutions from 0.4 MP up to 5 MP in monochrome and color versions. This is expected to accelerate market growth during the forecast period.
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APAC is estimated to contribute 47% to the growth during the forecast year. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The market in the APAC region shows strong growth potential as companies bring innovative and cost-effective cameras to the region. The main driver of market growth in this region is the increasing development and adoption of machine vision systems in countries such as China, Japan, and Indonesia. The booming automotive and semiconductor industries in China and Japan will also support market growth in APAC. China, Japan, India, Indonesia, Malaysia, and South Korea have emerged as the dominant countries in the APAC region market, with the majority of sales coming from the automotive, electronics, and semiconductor sectors. Expansion projects announced in these countries are also contributing to the market growth in these countries.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adimec Advanced Image Systems BV: The company offers cameras for MV applications, healthcare, security, and other solutions. It also offers different types of machine vision cameras such as the Quartz and Sapphire series.
We also have detailed analyses of the market’s competitive landscape and offer information on key companies, including: Adimec Advanced Image Systems bv, Alpha MOS, AMETEK Inc., Banner Engineering Corp., Basler AG, Baumer Holding AG, Cognex Corp., Datalogic SpA, Decision Technology LLC, Hangzhou Hikvision Digital Technology Co. Ltd., Hitachi Ltd., Intel Corp., JAI AS, Keyence Corp., National Instruments Corp., OMRON Corp., SICK AG, Sony Group Corp., Teledyne Technologies Inc., and TKH Group NV
Technavio market forecast the an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market is experiencing rapid growth driven by advancements in technology such as PC-based cameras and USB3 camera, which are revolutionizing industries like smart manufacturing and agriculture drones. Image recognition algorithms are enhancing 3D modeling capabilities, benefiting manufacturing industries and transportation sectors alike. The integration of AI enables preventive intervention in production processes, reducing the reliance on skilled labor. Line scan cameras and smart camera-based solutions are optimizing manufacturing operations, ensuring quality tests and identifying irregularities. The market caters to diverse needs, from UAV-based inspections in aerospace to power line and facility inspections. With a focus on automation technology and connected vehicles, MV cameras offer compact footprint solutions with automated functions, guiding machines and identifying components for efficient manufacturing plants and smart factories.
Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.31% |
Market growth 2024-2028 |
USD 1.73 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
8.31 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, Japan, Germany, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Adimec Advanced Image Systems bv, Alpha MOS, AMETEK Inc., Banner Engineering Corp., Basler AG, Baumer Holding AG, Cognex Corp., Datalogic SpA, Decision Technology LLC, Hangzhou Hikvision Digital Technology Co. Ltd., Hitachi Ltd., Intel Corp., JAI AS, Keyence Corp., National Instruments Corp., OMRON Corp., SICK AG, Sony Group Corp., Teledyne Technologies Inc., and TKH Group NV |
Market dynamics |
Parent market growth analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Platform
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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