Machine Vision Market Size – By Component (Hardware, Software and Services), By Product (PC Based and Smart Camera Based), By Application (Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification, and Predictive Maintenance), By End-use Industry (Automotive, Pharmaceuticals & Chemicals, Electronics & Semiconductor, Pulp & Paper, Printing & Labeling, Food & Beverage, Glass & Metal, Postal & Logistics and Others) & Region – Global Forecasts 2024 - 2034.
- PUBLISHED ON
- 2024-09-25
- NO OF PAGES
- 285
- CATEGORY
- Information Communication & Technology
Market Overview
The Machine Vision market is predicted to develop at a compound annual growth rate (CAGR) of 12.6% from 2024 to 2034, when it is projected to reach USD 44,976.43 Million in 2034, based on an average growth pattern. The market is estimated to reach a value of USD 18,875.85 Million in 2024.
SOURCE: We Market Research
The Global
Machine Vision Market refers to the market for technologies that enable
machines to capture and analyze visual information, simulating the human vision
process. Machine vision systems are primarily used for inspection, quality
control, automation, and guidance in industrial processes, particularly in
manufacturing, robotics, and the growing field of artificial intelligence
(AI)-driven applications. The global machine vision market is growing rapidly,
driven by increasing automation in industries like manufacturing, automotive,
electronics, and healthcare. Integration with AI and deep learning has further
accelerated the adoption of machine vision systems. The market is projected to
grow at a strong compound annual growth rate (CAGR) over the next few years,
driven by industrial digitization and Industry 4.0 initiatives. The market is
highly competitive with major players continuously investing in R&D to
enhance their product portfolios and expand their global reach. Leading players
include Cognex Corporation, Keyence Corporation, Basler AG, Teledyne
Technologies, and Omron Corporation among others. The global machine vision
market is expected to see increased integration with artificial intelligence,
robotics, and automation systems, alongside growing demand for high-speed and
precision-based industrial processes. This will continue to drive innovations
and market expansion across various industries.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 18,875.85 Million |
|
Market
Forecast in 2034 |
USD 44,976.43
Million |
|
CAGR % 2024-2034 |
12.6% |
|
Base
Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast
Period |
2024-2034 |
|
Report USP
|
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
|
Segments
Covered |
By Component,
By Product, By Application, By End-use Industry and By Region |
|
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
|
Country
Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Machine Vision Industry: Dynamics & Restrains
Market opportunity:
We Market
Research: Machine Vision Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Machine Vision Segmentation
Market- By Component Analysis
By Component,
the Machine Vision market is categories into Hardware, Software and Services. Hardware
dominate the market with the largest share, accounting for over 60% of the
market in 2023. This dominant share reflects the essential role of physical
components in machine vision systems. Hardware encompasses the physical
components required for machine vision systems, including cameras, sensors,
lenses, lighting, and frame grabbers. This segment typically holds the largest
share of the machine vision market due to the essential nature of these physical
components.
The
following segments are part of an in-depth analysis of the global Machine
Vision market:
|
Market Segments |
|
|
By Component |
·
Hardware ·
Software ·
Services |
|
By Product |
·
PC Based ·
Smart Camera Based |
|
By Application |
·
Quality Assurance and Inspection ·
Positioning and Guidance ·
Measurement ·
Identification ·
Predictive Maintenance |
|
By
End-use Industry |
·
Automotive ·
Pharmaceuticals & Chemicals ·
Electronics & Semiconductor ·
Pulp & Paper ·
Printing & Labeling ·
Food & Beverage ·
Glass & Metal ·
Postal & Logistics ·
Others |
Machine Vision Industry: Regional Analysis
North America Market Forecast
North America dominates the global Machine Vision market, accounting for around 37% of the market share in 2023. North America is one of the largest markets for machine vision technology, driven by advanced manufacturing capabilities, high levels of automation, and significant investments in research and development. The U.S. is the largest contributor within this region due to its advanced industrial base, early adoption of automation technologies, and significant presence of major machine vision vendors.
Europe Market Statistics
Europe is a
significant market for machine vision, with substantial growth driven by
manufacturing sectors and a focus on Industry 4.0 initiatives. The region's
strong emphasis on quality control, precision engineering, and automation in
industries like automotive, aerospace, and consumer goods fuels its market
growth. European countries are at the forefront of Industry 4.0 and smart
factory initiatives, increasing the demand for advanced machine vision systems.
The automotive and aerospace industries, which are prominent in Europe, heavily
utilize machine vision for quality control and process optimization.
Asia
Pacific Market Forecasts
Asia Pacific is
the fastest-growing region for machine vision, driven by rapid
industrialization, increasing automation, and significant investments in
manufacturing infrastructure. The region’s growth is primarily driven by
emerging economies like China and India, which are expanding their industrial
and manufacturing sectors.
Middle East & Africa Market Statistics
MEA represents a
smaller portion of the global machine vision market compared to other regions
but is experiencing growth due to increasing industrial activities and
infrastructure development. The growth is driven by sectors such as oil and
gas, mining, and infrastructure projects. Growing infrastructure and industrial
projects, especially in countries like Saudi Arabia and the UAE, are driving
demand for machine vision systems.
Key Market Players
The Machine Vision Market
is dominated by a few large companies, such as
·
Cognex Corporation
·
Keyence Corporation
·
Basler AG
·
Omron Corporation
·
Teledyne Technologies
·
National Instruments Corporation
·
Intel Corporation
·
Sony Corporation
·
Allied Vision Technologies GmbH
·
IDS Imaging Development Systems
GmbH
·
FLIR Systems, Inc.
·
Baumer Group
·
Datalogic S.p.A.
·
SICK AG
·
Microscan Systems, Inc. (Omron)
·
Tordivel AS
·
JAI A/S
·
Ximea GmbH
·
Photonfocus AG
·
MVTec Software GmbH
·
Other
1.
Global
Machine Vision Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Machine Vision Market
Scope and Market Estimation
1.2.1. Global Machine Vision Overall
Market Size (US$ Bn), Market CAGR (%), Market forecast (2024 - 2034)
1.2.2. Global Machine Vision Market
Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1. Component of Global Machine
Vision Market
1.3.2. Product of Global Machine Vision
Market
1.3.3. Application of Global Machine
Vision Market
1.3.4. End-use Industry of Global Machine
Vision Market
1.3.5. Region of Global Machine Vision
Market
2.
Executive Summary
2.1. Demand Side Trends
2.2. Key Market Trends
2.3. Market Demand (US$ Bn) Analysis
2019 – 2023 and Forecast, 2024 – 2034
2.4. Demand and Opportunity
Assessment
2.5. Demand Supply Scenario
2.6. Market Dynamics
2.6.1. Drivers
2.6.2. Limitations
2.6.3. Opportunities
2.6.4. Impact Analysis of Drivers and
Restraints
2.7. Pricing Trends Analysis
2.8. Overview of Technology Developments
2.9. Porter’s Five Forces Analysis
2.9.1. Bargaining Power of Suppliers
2.9.2. Bargaining Power of Buyers
2.9.3. Threat of Substitutes
2.9.4. Threat of New Entrants
2.9.5. Competitive Rivalry
2.10. PEST Analysis
2.10.1. Political Factors
2.10.2. Economic Factors
2.10.3. Social Factors
2.10.4. Technology Factors
2.11. Value Chain / Ecosystem Analysis
2.12. Key Regulation
3.
Global Machine Vision Market Estimates & Historical Trend Analysis (2019 - 2023)
4.
Global Machine Vision Market Estimates & Forecast Trend Analysis, by
Component
4.1. Global Machine Vision Market
Revenue (US$ Bn) Estimates and Forecasts, by Component, 2019 - 2034
4.1.1. Hardware
4.1.2. Software
4.1.3. Services
5.
Global Machine Vision Market Estimates & Forecast Trend Analysis, by
Product
5.1. Global Machine Vision Market
Revenue (US$ Bn) Estimates and Forecasts, by Product, 2019 - 2034
5.1.1. PC Based
5.1.2. Smart Camera Based
6.
Global Machine Vision Market Estimates & Forecast Trend Analysis, by
Application
6.1. Global Machine Vision Market
Revenue (US$ Bn) Estimates and Forecasts, by Application, 2019 - 2034
6.1.1.Quality
Assurance and Inspection
6.1.2.Positioning
and Guidance
6.1.3.Measurement
6.1.4.Identification
6.1.5. Predictive Maintenance
7.
Global Machine Vision Market Estimates & Forecast Trend Analysis, by
End-use Industry
7.1. Global Machine Vision Market
Revenue (US$ Bn) Estimates and Forecasts, by End-use Industry, 2019 - 2034
7.1.1.Automotive
7.1.2.Pharmaceuticals
& Chemicals
7.1.3.Electronics
& Semiconductor
7.1.4.Pulp
& Paper
7.1.5.Printing
& Labeling
7.1.6.Food
& Beverage
7.1.7.Glass
& Metal
7.1.8.Postal
& Logistics
7.1.9. Others
8.
Global Machine Vision Market Estimates & Forecast Trend Analysis,
by Region
8.1. Global Machine Vision Market
Revenue (US$ Bn) Estimates and Forecasts, by Region, 2019 - 2034
8.1.1. North America
8.1.2. Eastern Europe
8.1.3. Western Europe
8.1.4. Asia Pacific
8.1.5. Middle East & Africa
8.1.6. Latin America
9.
North
America Machine Vision Market: Estimates & Forecast Trend Analysis
9.1.
North
America Machine Vision Market Assessments & Key Findings
9.1.1. North America Machine Vision
Market Introduction
9.1.2. North America Machine Vision
Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
9.1.2.1. By Component
9.1.2.2. By Product
9.1.2.3. By Application
9.1.2.4. By End-use Industry
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10. Western Europe Machine
Vision Market: Estimates & Forecast
Trend Analysis
10.1. Western Europe Machine Vision
Market Assessments & Key Findings
10.1.1. Western Europe Machine Vision
Market Introduction
10.1.2. Western Europe Machine Vision
Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
10.1.2.1. By Component
10.1.2.2. By Product
10.1.2.3. By Application
10.1.2.4. By End-use Industry
10.1.2.5. By Country
10.1.2.5.1.
Germany
10.1.2.5.2.
Italy
10.1.2.5.3.
U.K.
10.1.2.5.4.
France
10.1.2.5.5.
Spain
10.1.2.5.6.
Benelux
10.1.2.5.7.
Nordics
10.1.2.5.8. Rest
of W. Europe
11. Eastern Europe Machine
Vision Market: Estimates & Forecast
Trend Analysis
11.1. Eastern Europe Machine Vision
Market Assessments & Key Findings
11.1.1. Eastern Europe Machine Vision
Market Introduction
11.1.2. Eastern Europe Machine Vision
Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
11.1.2.1. By Component
11.1.2.2. By Product
11.1.2.3. By Application
11.1.2.4. By End-use Industry
11.1.2.5. By Country
11.1.2.5.1.
Russia
11.1.2.5.2.
Hungary
11.1.2.5.3.
Poland
11.1.2.5.4.
Balkan & Baltics
11.1.2.5.5. Rest of E. Europe
12. Asia Pacific Machine
Vision Market: Estimates & Forecast
Trend Analysis
12.1. Asia Pacific Market Assessments
& Key Findings
12.1.1. Asia Pacific Machine Vision
Market Introduction
12.1.2. Asia Pacific Machine Vision
Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
12.1.2.1. By Component
12.1.2.2. By Product
12.1.2.3. By Application
12.1.2.4. By End-use Industry
12.1.2.5. By Country
12.1.2.5.1. China
12.1.2.5.2. Japan
12.1.2.5.3. India
12.1.2.5.4. Australia & New Zealand
12.1.2.5.5. South Korea
12.1.2.5.6. ASEAN
12.1.2.5.7. Rest of Asia Pacific
13. Middle East & Africa Machine
Vision Market: Estimates & Forecast
Trend Analysis
13.1. Middle East & Africa Market
Assessments & Key Findings
13.1.1. Middle
East & Africa Machine
Vision Market Introduction
13.1.2. Middle
East & Africa Machine
Vision Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
13.1.2.1. By Component
13.1.2.2. By Product
13.1.2.3. By Application
13.1.2.4. By End-use Industry
13.1.2.5. By Country
13.1.2.5.1. UAE
13.1.2.5.2. Saudi
Arabia
13.1.2.5.3. Turkey
13.1.2.5.4. South
Africa
13.1.2.5.5. Rest of
MEA
14. Latin America
Machine Vision Market: Estimates &
Forecast Trend Analysis
14.1. Latin America Market Assessments
& Key Findings
14.1.1. Latin America Machine Vision
Market Introduction
14.1.2. Latin America Machine Vision
Market Size Estimates and Forecast (US$ Billion) (2019 - 2034)
14.1.2.1. By Component
14.1.2.2. By Product
14.1.2.3. By Application
14.1.2.4. By End-use Industry
14.1.2.5. By Country
14.1.2.5.1. Brazil
14.1.2.5.2. Argentina
14.1.2.5.3. Colombia
14.1.2.5.4. Rest of
LATAM
15. Country Wise Market:
Introduction
16. Competition Landscape
16.1. Global Machine Vision Market Product
Mapping
16.2. Global Machine Vision Market
Concentration Analysis, by Leading Players / Innovators / Emerging Players /
New Entrants
16.3. Global Machine Vision Market Tier
Structure Analysis
16.4. Global Machine Vision Market
Concentration & Company Market Shares (%) Analysis, 2023
17. Company Profiles
17.1.
Cognex Corporation
17.1.1. Company Overview & Key Stats
17.1.2. Financial Performance & KPIs
17.1.3. Product Portfolio
17.1.4. SWOT Analysis
17.1.5. Business Strategy & Recent
Developments
* Similar details would be provided
for all the players mentioned below
17.2. Keyence Corporation
17.3. Basler AG
17.4. Omron Corporation
17.5. Teledyne
Technologies
17.6. National
Instruments Corporation
17.7. Intel Corporation
17.8. Sony Corporation
17.9. Allied Vision
Technologies GmbH
17.10. IDS Imaging
Development Systems GmbH
17.11. FLIR Systems, Inc.
17.12. Baumer Group
17.13. Datalogic S.p.A.
17.14. SICK AG
17.15. Microscan Systems,
Inc. (Omron)
17.16. Tordivel AS
17.17. JAI A/S
17.18. Ximea GmbH
17.19. Photonfocus AG
17.20. MVTec Software GmbH
17.21. Others
18. Research
Methodology
18.1. External Transportations /
Databases
18.2. Internal Proprietary Database
18.3. Primary Research
18.4. Secondary Research
18.5. Assumptions
18.6. Limitations
18.7. Report FAQs
19. Research
Findings & Conclusion
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Frequently Asked Questions
What is the market size of Machine Vision Market in 2024?
Machine Vision Market was valued at USD 18,875.85 Million in 2024.
What is the growth rate for the Machine Vision Market?
Machine Vision Market size will increase at approximate CAGR of 12.6% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the market are Cognex Corporation, Keyence Corporation, Basler AG, Omron Corporation, Teledyne Technologies, National Instruments Corporation, Intel Corporation, Sony Corporation, Allied Vision Technologies GmbH, IDS Imaging Development Systems GmbH, FLIR Systems, Inc., Baumer Group, Datalogic S.p.A., SICK AG and others.
Which region dominates the Machine Vision Market?
North America dominates the market with an active share of 37%.
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