"Machine
vision system is estimated to foster high growth during the forecast period
owing to its heavy utilization in applications such as positioning,
identification, verification, measurement, and flaw detection. Furthermore,
there is a trend of incorporating artificial intelligence (AI) technology in
commercial machine vision systems. AI-based analysis in machine vision offers
exceptional flexibility of automation in industries"
Komal
Sharma
Research Analyst, Semiconductor and Electronics
Research Analyst, Semiconductor and Electronics
Machine Vision System Market,
published by Allied Market Research, forecasts that the global market was
valued at $10.6 billion in 2015 and is projected to reach $18.7 billion by
2022, growing at a CAGR of 8.7% during the forecast period 2016-2022
.Industrial segment held the highest share of the total market in 2015.
Machine
vision systems have penetration in a wide range of industries, such as
industrial, healthcare, electronics, automotive, aerospace & defense,
and many more. In 2015, industrial and electronics segments had more
than 50% market share in the overall machine vision system market. The
manufacturers of automated guided robots and vehicles incorporate advanced
machine vision systems for applications such as positioning and identification
to maintain a competitive advantage. From a growth perspective, Healthcare
sector is expected to witness the highest growth, with a CAGR of
around 12%, due to the increased investments by the market players for
developing machine vision systems for applications, such as clinical
diagnostics, in vitro diagnostics, and surgical lab automation, thus, enabling
complex workflows.
Embedded
system accounted for the highest share, i.e., 33.4%, of the overall machine
vision system market size in 2015, owing to the constantly evolving machine
vision software for image processing. Smart camera is expected to be
the fastest growing component segment of the machine vision system
industry, growing with a CAGR of 10.3%, owing to its incorporation in
most of the upcoming machine vision systems.
In
the system type segment, 1D measurement consumed the largest share followed by
2D measurement, while 3D measurement is expected to exhibit
significant growth, with a CAGR of 13.2% during the forecast period. The growth
of 3D measurement would be driven by the increase in demand of precision
in production line monitoring and guidance.
Asia-Pacific
held the highest machine vision system market share in 2015, generating more
than half of the global market revenue. The region is anticipated to be the
most potential investment area of machine vision system, with a high growth
rate, exhibiting an increased demand due to rapid rise in sales of
industrial robots and monitoring systems.
Key Findings of the Machine Vision System Market
- Smart camera is expected to be the fastest
growing component segment of the machine vision system industry,
growing with a CAGR of 10.3% from 2016 - 2022
- 3D measurement is expected to exhibit the highest CAGR of 13.2%
during the forecast period
- Flaw detection and verification applications are two of the
fastest growing application segments in machine vision system market,
together constituting more than half of the overall market revenue in 2015
- Industrial segment contributed over 29.0% of the overall market
in 2015, and is expected to grow with a CAGR of 6.9%
during the forecast period
- Europe is expected to be the fastest growing machine vision
system market, and projected to grow at a CAGR of 11.8% during
the forecast period
Several
prominent players operating in the machine vision system market adopted
partnership as one of their key growth strategies. Companies such as Cognex
Corporation, Teledyne Technologies, Inc., Keyence Corporation, and National
Instruments Corporation have introduced innovative and technologically advanced
products to capture greater market share. Prominent companies profiled in the
report include Texas Instruments, Inc., Basler AG, Baumer Optronic GmbH, Sick
AG, Omron Corporation, Allied Vision Technologies GmbH, and others.
About
Us
Allied
Market Research (AMR) is a full-service market research and business-consulting
wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research
provides global enterprises as well as medium and small businesses with
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and consulting to assist its clients to make strategic business decisions and
achieve sustainable growth in their respective market domain.
We
are in professional corporate relations with various companies and this helps
us in digging out market data that helps us generate accurate research data
tables and confirms utmost accuracy in our market forecasting. Each and every
data presented in the reports published by us is extracted through primary
interviews with top officials from leading companies of domain concerned. Our
secondary data procurement methodology includes deep online and offline
research and discussion with knowledgeable professionals and analysts in the
industry.
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