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Machine Vision Market by End-user, Geography, and Type - Forecast and Analysis 2022-2026

  • Published: Feb 2022
  • Pages: 120
  • SKU: IRTNTR43479
Technavio

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The machine vision market share is expected to increase by USD 10.19 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 13.76%.

This machine vision market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers machine vision market segmentation by end-user (industrial and non-industrial), type (vision system, cameras, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The machine vision market report also offers information on several market vendors, including Adimec Advanced Image Systems BV, ADLINK Technology Inc., Advantech Co. Ltd., Allied Vision Technologies GmbH, AOS Technologies AG, Basler AG, Baumer Holding AG, Cognex Corp., Datalogic Spa, Edmund Optics Inc., ifm electronic GmbH, iX Cameras ltd., JAI AS, Keyence India Pvt. Ltd., OMRON Corporation, Optronis GmbH, Sony Group Corp., Teledyne FLIR LLC, Toshiba Corp., and Nippon Electro-Sensory Devices Corp. among others.

What will the Machine Vision Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Machine Vision Market Size for the Forecast Period and Other Important Statistics

 

Machine Vision Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The significant cost savings in operation due to process control is notably driving the machine vision market growth, although factors such as non-conformity can lead to heavy loss may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the machine vision industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Machine Vision Market Driver

One of the key factors driving growth in the machine vision market is the significant cost savings in operation due to process control. Machine vision systems are employed in the initial stage of production. Defective components are immediately removed from the process and are not finished. The integration of machine vision systems in manufacturing units helps manufacturers in reducing the labor cost as well as helps in avoiding the corrective action cost. With the rise in the labor cost in the US and China, it is becoming difficult for manufacturers to control the cost that may later affect the competitive strategy of a company. With automation, there is a minimal requirement for human intervention. This, in turn, reduces the labor cost. In addition, machine vision systems work with precision to capture defects. This prevents the defective product from being moved to the next process step. This reduces the cost of taking any corrective actions.

Key Machine Vision Market Trend

The incorporation of thermal inspection in machine vision systems is another factor supporting the machine vision market share growth. After the improvement in the 2D and 3D imaging for machine visions, there is a vast improvement seen in the thermal inspection. The broadened product portfolio of manufacturers bears more risk as this brings in innovation and cost. The machine vision vendors are also introducing thermal imaging. Although thermal imaging is costly for the industry, it is difficult to adopt. The thermal inspections have improved and provide Ethernet, camera links, and standard applications that support machine vision conventions.

Key Machine Vision Market Challenge

The heavy loss due to non-conformity will be a major challenge for the machine vision market during the forecast period. A single customer, on average, generates about 15% to 18% of the total revenue for the vendors. This indicates that a loss of a single customer can impact vendors heavily. Although the market has high growth potential, the increasing number of services and systems make it necessary to comply with end-user needs. A simple failure will have a greater impact on revenue, increasing the cost of the firm. The changing production line is a serious problem owing to the shortened product life cycle and continuous innovation. A significant decline in the inspection of products for the electronics and semiconductor industries due to rapid changes in product lines has been observed. In the semiconductor industry, each day, an item sits in the warehouse without being attended to. This can increase cost and lower profit by up to 4% to 5%. Therefore, conformance becomes key for vendors.

This machine vision market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global machine vision market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the machine vision market during the forecast period.

Who are the Major Machine Vision Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Adimec Advanced Image Systems BV
  • ADLINK Technology Inc.
  • Advantech Co. Ltd.
  • Allied Vision Technologies GmbH
  • AOS Technologies AG
  • Basler AG
  • Baumer Holding AG
  • Cognex Corp.
  • Datalogic Spa
  • Edmund Optics Inc.
  • ifm electronic GmbH
  • iX Cameras ltd.
  • JAI AS
  • Keyence India Pvt. Ltd.
  • OMRON Corporation
  • Optronis GmbH
  • Sony Group Corp.
  • Teledyne FLIR LLC
  • Toshiba Corp.
  • Nippon Electro-Sensory Devices Corp.

 

This statistical study of the machine vision market encompasses successful business strategies deployed by the key vendors. The machine vision market is fragmented and the vendors are deploying growth strategies such as pricing and marketing strategies to retain their existing market shares and seize new market opportunities to compete in the market.

Product Insights and News

  • adimec.com - The company offers hemostasis diagnostics machines under the brand name of Alinity.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The machine vision market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Machine Vision Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the machine vision market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Machine Vision Market?

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50% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for machine vision in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The development and increased adoption of machine vision systems in countries such as China, Japan, and Indonesia will facilitate the machine vision market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Owing to the COVID-19 pandemic, industrial production and the operations of end-user industries, such as automotive, consumer goods, and packaging, witnessed a decline in most countries across APAC in 2020. However, with the initiation of mass COVID-19 vaccination drives and the resumption of end-user activities, the regional market steadily recovered in 2021. Therefore, the market in focus is expected to grow in the region during the forecast period.

What are the Revenue-generating End-user Segments in the Machine Vision Market?

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The machine vision market share growth by the industrial segment will be significant during the forecast period. In 2021, the industrial sector accounted for the highest market share primarily contributed by the automotive and electronics industries, followed by the metal and food and beverages industries. The pharmaceutical industry is also increasingly using machine vision components in its process lines and in logistics applications. Industrial end-users are adopting machine vision products to gain a competitive advantage over other players. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the machine vision market size and actionable market insights on post COVID-19 impact on each segment.

 

Machine Vision Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 13.76%

Market growth 2022-2026

$ 10.19 billion

Market structure

Fragmented

YoY growth (%)

10.71

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 50%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Adimec Advanced Image Systems BV, ADLINK Technology Inc., Advantech Co. Ltd., Allied Vision Technologies GmbH, AOS Technologies AG, Basler AG, Baumer Holding AG, Cognex Corp., Datalogic Spa, Edmund Optics Inc., ifm electronic GmbH, iX Cameras ltd., JAI AS, Keyence India Pvt. Ltd., OMRON Corporation, Optronis GmbH, Sony Group Corp., Teledyne FLIR LLC, Toshiba Corp., and Nippon Electro-Sensory Devices Corp.

Market dynamics

Parent market 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 the forecast period

Customization purview

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What are the Key Data Covered in this Machine Vision Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive machine vision market growth during the next five years
  • Precise estimation of the machine vision market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the machine vision industry across APAC, North America, Europe, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of machine vision market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 18: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 19: Bargaining power of buyers – Impact of key factors in 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 25: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 26: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 27: Chart on Comparison by End-user
      • Exhibit 28: Data Table on Comparison by End-user
    • 5.3 Industrial - Market size and forecast 2021-2026
      • Exhibit 29: Chart on Industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Data Table on Industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Chart on Industrial - Year-over-year growth 2021-2026 (%)
      • Exhibit 32: Data Table on Industrial - Year-over-year growth 2021-2026 (%)
    • 5.4 Non-industrial - Market size and forecast 2021-2026
      • Exhibit 33: Chart on Non-industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Data Table on Non-industrial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 35: Chart on Non-industrial - Year-over-year growth 2021-2026 (%)
      • Exhibit 36: Data Table on Non-industrial - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by End-user
      • Exhibit 37: Market opportunity by End-user ($ million)

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 38: Chart on Type - Market share 2021-2026 (%)
      • Exhibit 39: Data Table on Type - Market share 2021-2026 (%)
    • 6.2 Comparison by Type
      • Exhibit 40: Chart on Comparison by Type
      • Exhibit 41: Data Table on Comparison by Type
    • 6.3 Vision system - Market size and forecast 2021-2026
      • Exhibit 42: Chart on Vision system - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on Vision system - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on Vision system - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on Vision system - Year-over-year growth 2021-2026 (%)
    • 6.4 Cameras - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Cameras - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Cameras - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Cameras - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Cameras - Year-over-year growth 2021-2026 (%)
    • 6.5 Others - Market size and forecast 2021-2026
      • Exhibit 50: Chart on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on Others - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on Others - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on Others - Year-over-year growth 2021-2026 (%)
    • 6.6 Market opportunity by Type
      • Exhibit 54: Market opportunity by Type ($ million)

    7 Customer Landscape

    • 7.1 Customer landscape overview
      • Exhibit 55: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 56: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 57: Data Table on Market share by geography 2021-2026 (%)
    • 8.2 Geographic comparison
      • Exhibit 58: Chart on Geographic comparison
      • Exhibit 59: Data Table on Geographic comparison
    • 8.3 APAC - Market size and forecast 2021-2026
      • Exhibit 60: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 61: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 62: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 63: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 8.4 North America - Market size and forecast 2021-2026
      • Exhibit 64: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 65: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 66: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 67: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 8.5 Europe - Market size and forecast 2021-2026
      • Exhibit 68: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 69: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 70: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 71: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 8.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 72: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 73: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 74: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 75: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 8.7 South America - Market size and forecast 2021-2026
      • Exhibit 76: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 77: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 78: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 79: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 8.8 China - Market size and forecast 2021-2026
      • Exhibit 80: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 81: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 82: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 83: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 8.9 US - Market size and forecast 2021-2026
      • Exhibit 84: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 85: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 86: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 87: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 8.10 Japan - Market size and forecast 2021-2026
      • Exhibit 88: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 89: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 90: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 91: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 8.11 Germany - Market size and forecast 2021-2026
      • Exhibit 92: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 93: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 94: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 95: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 8.12 UK - Market size and forecast 2021-2026
      • Exhibit 96: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 97: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 98: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 99: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 8.13 Market opportunity by geography
      • Exhibit 100: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Impact of drivers and challenges
          • Exhibit 101: Impact of drivers and challenges in 2021 and 2026
        • 9.4 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 102: Overview on Criticality of inputs and Factors of differentiation
            • 10.3 Landscape disruption
              • Exhibit 103: Overview on factors of disruption
            • 10.4 Industry risks
              • Exhibit 104: Impact of key risks on business

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 105: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 106: Matrix on vendor position and classification
            • 11.3 Adimec Advanced Image Systems BV
              • Exhibit 107: Adimec Advanced Image Systems BV - Overview
              • Exhibit 108: Adimec Advanced Image Systems BV - Product / Service
              • Exhibit 109: Adimec Advanced Image Systems BV - Key offerings
            • 11.4 Basler AG
              • Exhibit 110: Basler AG - Overview
              • Exhibit 111: Basler AG - Product / Service
              • Exhibit 112: Basler AG - Key offerings
            • 11.5 Cognex Corp.
              • Exhibit 113: Cognex Corp. - Overview
              • Exhibit 114: Cognex Corp. - Product / Service
              • Exhibit 115: Cognex Corp. - Key offerings
            • 11.6 Datalogic Spa
              • Exhibit 116: Datalogic Spa - Overview
              • Exhibit 117: Datalogic Spa - Business segments
              • Exhibit 118: Datalogic Spa - Key news
              • Exhibit 119: Datalogic Spa - Key offerings
              • Exhibit 120: Datalogic Spa - Segment focus
            • 11.7 JAI AS
              • Exhibit 121: JAI AS - Overview
              • Exhibit 122: JAI AS - Product / Service
              • Exhibit 123: JAI AS - Key offerings
            • 11.8 Keyence India Pvt. Ltd.
              • Exhibit 124: Keyence India Pvt. Ltd. - Overview
              • Exhibit 125: Keyence India Pvt. Ltd. - Product / Service
              • Exhibit 126: Keyence India Pvt. Ltd. - Key offerings
            • 11.9 OMRON Corporation
              • Exhibit 127: OMRON Corporation - Overview
              • Exhibit 128: OMRON Corporation - Business segments
              • Exhibit 129: OMRON Corporation - Key news
              • Exhibit 130: OMRON Corporation - Key offerings
              • Exhibit 131: OMRON Corporation - Segment focus
            • 11.10 Sony Group Corp.
              • Exhibit 132: Sony Group Corp. - Overview
              • Exhibit 133: Sony Group Corp. - Business segments
              • Exhibit 134: Sony Group Corp. - Key news
              • Exhibit 135: Sony Group Corp. - Key offerings
              • Exhibit 136: Sony Group Corp. - Segment focus
            • 11.11 Teledyne FLIR LLC
              • Exhibit 137: Teledyne FLIR LLC - Overview
              • Exhibit 138: Teledyne FLIR LLC - Business segments
              • Exhibit 139: Teledyne FLIR LLC - Key offerings
              • Exhibit 140: Teledyne FLIR LLC - Segment focus
            • 11.12 Toshiba Corp.
              • Exhibit 141: Toshiba Corp. - Overview
              • Exhibit 142: Toshiba Corp. - Business segments
              • Exhibit 143: Toshiba Corp. - Key offerings
              • Exhibit 144: Toshiba Corp. - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Inclusions and exclusions checklist
                • Exhibit 145: Inclusions checklist
                • Exhibit 146: Exclusions checklist
              • 12.3 Currency conversion rates for US$
                • Exhibit 147: Currency conversion rates for US$
              • 12.4 Research methodology
                • Exhibit 148: Research methodology
                • Exhibit 149: Validation techniques employed for market sizing
                • Exhibit 150: Information sources
              • 12.5 List of abbreviations
                • Exhibit 151: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The machine vision market growth will increase by $10196.62 million during 2021-2026.
              The machine vision market is expected to grow at a CAGR of 13.76% during 2021-2026.
              Technavio has segmented the machine vision market by end-user (Industrial and Non-industrial) ,type (Vision system, Cameras, Others, South America, and MEA) , and geographic (APAC, North America, Europe, Middle East and Africa, and South America).
              Adimec Advanced Image Systems BV, ADLINK Technology Inc., Advantech Co. Ltd., Allied Vision Technologies GmbH, AOS Technologies AG, Basler AG, Baumer Holding AG, Cognex Corp., Datalogic Spa, Edmund Optics Inc., ifm electronic GmbH, iX Cameras ltd., JAI AS, Keyence India Pvt. Ltd., OMRON Corporation, Optronis GmbH, Sony Group Corp., Teledyne FLIR LLC, Toshiba Corp., Nippon Electro-Sensory Devices Corp. are a few of the key vendors in the machine vision market.
              APAC will register the highest growth rate of 49.92% among the other regions. Therefore, the machine vision market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the machine vision market growth are:
              • Significant cost savings in operation due to process control
              • Incorporation of thermal inspection in machine vision systems
              The machine vision market vendors should focus on grabbing business opportunities from the industrial segment as it accounted for the largest market share in the base year.
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