Machine Vision Market Analysis APAC, North America, Europe, Middle East and Africa, South America - US, Canada, China, Japan, Germany - Size and Forecast 2023-2027

Machine Vision Market Forecast 2023-2027

The Machine Vision market size is projected to reach a value of USD 7.23 billion in 2027, at a CAGR of 9.78% between 2022 and 2027. Substantial operational cost reductions through process control can lead to improved efficiency and profitability for businesses, making such systems highly attractive. The escalating demand in the Asia-Pacific (APAC) region, driven by industrialization and infrastructure development, presents a substantial growth opportunity for companies offering these systems. Additionally, the growing need for these systems within the automotive sector, for tasks such as quality control and process optimization, further contributes to market expansion.

The market is rapidly evolving, addressing various aspects such as error-proofing and enhancing efficiency for system operators. It caters to diverse customers' needs, spanning industries like chemical manufacturing. Times have changed, and machine vision now plays a pivotal role in inspecting products, categorizing items, and ensuring error-free processes. The market integrates artificial intelligence, automation, and robotics, utilizing learning algorithms for enhanced object recognition and quality assessment. This synergy empowers industries with efficient, intelligent systems, marking a transformative era where it plays a pivotal role in advancing automation and robotics through sophisticated learning and recognition algorithms.

Market Size and Growth

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Market Segmentation

The market is segmented 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).

By End-User 

The industrial segment is estimated to witness significant growth during the forecast period. Some of the main industries which have contributed to the growth of this segment include automotive and electronics as well as the metal and food and beverages industries. There is increasing adoption of systems across the pharmaceutical industry which extensively use components in its process lines and in logistics applications.

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The industrial segment was the largest segment and was valued at USD 6.96 billion in 2017. Furthermore, there is an increasing use of systems in the manufacturing industry in order to sustain the competition and gain a competitive advantage. Several manufacturers are extensively using solutions to improve the rate of production and reduce the defects in their products. Other manufacturing industries that are significantly contributing to the growth of this segment are the electronics and semiconductors industries. hence, such factors are fuelling the growth of this segment which, in turn, will drive the market growth during the forecast period.

By Type 

Based on type, the segment is classified into vision systems, cameras, and others.  A vision system includes an integrated system, vision sensors, processors, and software and hardware segments. There is a higher adoption of vision systems across the industrial segment and it has fuelled the demand for these vision systems. The application of vision systems can be customized as per industrial needs. Furthermore, the error detection of vision systems will determine the demand for industrial machine market. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.

By Region

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The Asia-Pacific region is expected to dominate the market with a growth rate of 45% during the forecast period. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.  The Asia-Pacific region is expected to dominate the market with an accelerated growth rate during the forecast period. Some of the main factors that are significantly contributing to the growth of the market in APAC are the provision of innovative and low-cost cameras in the region by the machine vision camera market players. Additionally, factors such as development and increased adoption of systems in countries such as China, Japan, and Indonesia are also fuelling the growth of the market in the region during the forecast period.

Furthermore, there is a strong presence of semiconductor industries in several countries such as China and Japan which has a positive impact on market growth. Some of the major countries that are emerging as dominant countries for the market in APAC include China, Japan, India, Indonesia, Malaysia, and South Korea. Hence, such factors are expected to drive market growth in the region during the forecast period.

Market Dynamics

The market is driven by its wide application in various industries such as automotive, agriculture, and food & packaging. It leverages AI and deep learning capabilities for analysis techniques and defect detection. Automation and autonomous vehicles benefit from its assembly accuracy and asset utilization. It enhances efficiency and labeling precision while reducing downtime and labor inefficiency. Cost-effective and compact solutions are achieved through the integration of different components, including cameras and frame grabbers, leading to general deployment of machine vision systems across industries, ensuring defect identification and maintaining high labeling accuracy. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key market growth and trends including the major challenges. 

Key Market Driver

One of the key factors driving growth in the market is the significant cost savings in operation due to process control.  Vision systems are utilized in the initial stage of production to detect defective components, which are then removed from the process to prevent them from being finished. This technology has become essential in bustling manufacturing hubs across Asia and nations like Australia, ensuring product quality and error-proofing in inspection tasks. It offers cost-effective solutions with deep learning capabilities for defect detection and identification, reducing downtime and improving efficiency, particularly in industries such as the food & packaging industry. The increasing adoption of vision systems is evidenced by robust revenue growth and increased expenditure on advanced systems.

The versatility of vision systems is evident in their application across diverse industries, from plastics to lenses, serving a broad spectrum of product categories. The market's growth is further fueled by the adoption of frame grabbers, paneling, and various purchase options, providing flexibility in pricing models to suit the specific needs of different businesses.

Major Market Trends

Increasing the incorporation of thermal inspection in systems is a key trend. There has been a significant improvement in thermal inspection due to the improvement in the 2D and 3D Machine Vision Systems Market. Several market players who are offering machine vision are launching thermal imaging, although thermal imaging is costly and heavy for the industry and is hard to adopt. Furthermore, there have been significant enhancements in the thermal inspections as it offers  Ethernet, camera links, and standard applications that support conventions. Thus the integration of thermal inspection in systems positively impacts the market. Hence, such factors are expected to drive the market during the forecast period.

Significant Market Challenge

The market faces several challenges, including the importance of operator training and the varying usage across manufacturing companies. Competitors such as Vidi Systems SA in Switzerland, Panasonic, and ISRA Vision AG globally contribute to a dynamic ecosystem. The introduction of advanced systems like the Dataman 8700 and barcode scanners by different participants adds complexity to the market. Object detection, a crucial aspect, poses challenges for most clients and requires tailored solutions. Defining the market and its participants, particularly in terms of findings and restraints, becomes a complex task. The global nature of the market further complicates standardization, making it essential for companies to navigate challenges and find innovative ways to address the diverse needs and demands across the world.

Machine Vision Market Competitive Landscape

The competitive landscape of the market is characterized by a dynamic interplay of key players and evolving market trends. For instance, companies like Intel Corporation, Sick AG, and National Instruments shape the market with their innovative features and market presence. In Latin America, particularly Mexico, the outbreak of technological transformation is witnessed, as businesses and government sectors increasingly recognize the opportunities.

Across industries such as agriculture and manufacturing, the emphasis is on enhancing productivity and accuracy. Robotic capabilities, learning algorithms, and optics specifications play a vital role in achieving this. Notably, manufacturing facilities, contribute to the maintenance of safety standards by efficiently handling tasks that would otherwise be strenuous for workers.

Key Market Players in Machine Vision Market Companies

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. Key players in the market include companies like Cognex Corporation, Basler AG, and Omron Corporation.

Adimec Advanced Image Systems: The company offers the QUARTZ series, SAPPHIRE series, DIAMOND Gentific camera series, and NORITE N 5A100 camera.

We also have detailed analyses of the  market's competitive landscape and offer information on 20 market companies, including:

ADLINK Technology Inc., Advantech Co. Ltd., AFRY AB, Basler AG, Baumer Holding AG, Cognex Corp., Datalogic SpA, DATASENSOR India PVT. LTD., Industrial Vision Systems Ltd., Intel Corp., iX Cameras Ltd, JAI AS, Keyence Corp., OMRON Corp., Optronis GmbH, Sony Group Corp., Teledyne Technologies Inc., TKH Group NV, Toshiba Corp.

This market growth and forecasting report provides 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.  

Market Analysis

Smart cameras with advanced features are revolutionizing industries globally. In the manufacturing sector, developments like those by Keyence Corporation in Italy, Spain, and the Asia Pacific region are enhancing guidance for vehicles and factory operations. The technologies in Taiwan and China machine ensure precise inspection, error-proofing, and alterations. The applications of Machine Vision extend to the healthcare industry, where smart cameras improve installations and contribute to overall prosperity. 

Segment Overview

The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• End-user Outlook 
  • Industrial
  • Non-industrial
• Type Outlook 
  • Vision system
  • Cameras
  • Others
• Geography Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market is driven by the rising need for safety and quality inspection in various industries. Automated inspection systems play a crucial role in ensuring product integrity and operational efficiency. Cutting-edge technologies such as smart camera-based machine vision systems and IoT integration are revolutionizing industrial machine vision systems, enhancing predictive maintenance and process control solutions. Image processing and pattern recognition capabilities enable real-time decision-making and robot guidance, improving product consistency and customer satisfaction. The market benefits from industry support and regulations, promoting the integration of components for complex applications like crack detection in welds. Skilled professionals drive innovation in manufacturing processes and quality inspection, ensuring compliance with industry standards and enhancing operational practices.

Market Scope
Report Coverage	Details
Page number	165
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 9.78%
Market growth 2023-2027	USD 7.23 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	8.9
Regional analysis	APAC, North America, Europe, Middle East and Africa, and South America
Performing market contribution	APAC at 45%
Key countries	US, Canada, China, Japan, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	Adimec Advanced Image Systems bv, ADLINK Technology Inc., Advantech Co. Ltd., AFRY AB, Basler AG, Baumer Holding AG, Cognex Corp., Datalogic SpA, DATASENSOR India PVT. LTD., Industrial Vision Systems Ltd., Intel Corp., iX Cameras Ltd, JAI AS, Keyence Corp., OMRON Corp., Optronis GmbH, Sony Group Corp., Teledyne Technologies Inc., TKH Group NV, and Toshiba Corp.
Market dynamics	Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our market analysis and report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research And Growth Report?

• CAGR of the market report during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Are there any regulatory factors influencing the market?
• What are some recent advancements in technology?
• How is being used in different industries?
• How does technology work in the market?
• Precise estimation of the  market growth analysis and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming  market trends and analysis and changes in consumer behavior
• Growth of the market forecast across APAC, North America, Europe, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of  market companies

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