Rapidly expanding manufacturing industry worldwide will raise Machine Vision Systems Market by 2025 with a CAGR of 7.0%. Latest market study on “Machine Vision Systems to 2025 by Type (Smart Machine Vision Systems, PC-Based Machine Vision Systems and 3D Machine Vision Systems), Components (Cameras, Frame Grabbers, Processors, Illuminations & Optics, Vision Software and Others) and End-users (Automotive, Consumer Electronics, Food & Beverage, Pharmaceuticals, Logistics and Others) – Global Analysis and Forecast”, the machine vision systems market is estimated to reach US$ 14.48 billion by 2025 from US$ 7.50 billion in 2015. The report includes key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
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Machine vision systems include components such as image sensors, processors, PLC, frame grabbers and more, which are driven by a software package to execute user defined applications. Machine vision systems are also employed in non-inspection applications such as guiding robots, pick and place the parts, dispensing liquids and many more.
Some of the remarkable partnership and collaboration in this industry are MStar partners with OmniVision Technologies on new imaging applications with infrared processing. Also Strategic collaboration of OmniVision and SMI, where OmniVision’s global shutter CameraCubeChipTM was anticipated to be integrated into SMI’s Virtual Reality (VR) and Augmented Reality (AR) eye tracking platform as part of an alliance that aspires to shape the future of the sector.
The global machine vision systems market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to account for the largest share of the global machine vision systems market in 2016, followed by Europe. Germany and UK being two key countries in Europe region which will lead machine vision systems market in this region and is also expected to continue its dominance throughout the forecast period from 2016 to 2025. The report profiles key players such Basler AG, Cognex Corporation, Keyence Corporation, Omron Corporation and National Instruments. OmniVision, DataLogic, and Microscan Systems among others.
Government initiatives worldwide to support the growth of manufacturing sector
For a sustainable economic development, countries are increasingly focusing on boosting industrialization, especially in the manufacturing and process industries. Governments of various countries, especially India and China, are taking initiatives through regulations, innovation promotion, and knowledge brokerage to achieve inclusive and sustainable industrialization. The rapidly changing technology landscape in the manufacturing and process industries worldwide has also been encouraging the manufacturing companies to invest in advanced systems and processes, which can help achieve high operational efficiencies and also enable companies to meet challenging demands of today’s customers. The present century is characterized by tough competition in all major industry verticals. The manufacturers of various systems are facing tough competition on parameters such as costs, quality, technology, service, and time-to-market. Thus, to maintain market position and to achieve sustainable development, manufacturers are increasingly investing in advanced systems.
Machine vision systems has set the highest growth record in North America in 2018. Whereas, Europe is the major manufacturer and exporter of these systems worldwide. Manufacturing industry is the largest end-user of these systems however, the growth of machine vision systems in non- industrial niche applications such as logistics, intelligent traffic systems, IP video surveillance, and others is also rising owing to ongoing improvements in the technology resulting in decreasing the costs of these systems.
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