Machine Vision Market Size, Share, And Growth Report 2032

Machine Vision Market: Size

The global Machine Vision Market size was worth around USD 13.00 billion in 2023 and is predicted to grow to around USD 38.43 billion by 2032 with a compound annual growth rate (CAGR) of roughly 12.8% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD billion). The report covers a forecast and an analysis of the Machine Vision Market on a global and regional level.

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Machine Vision Market: Overview

Machine vision is the technology that delivers automatic scrutiny and review based on imageries for numerous applications, such as automatic inspection, process control, and robot guidance. There is an extensive opportunity for the machine vision market development in the upcoming years.

The machine vision market is likely to show notable growth over the forecast time period, owing to the growing demand from various industries for machine vision devices. In addition, the use of cutting-edge technology in the advancement of machine vision devices is also enhancing the machine vision market growth. Furthermore, the reasonable price of labor-related to the machine vision industry and augmented job openings are other key factors for the machine vision market growth. However, the high price for upkeep costs of machine vision gadgets along with huge price of conveyance and fluctuation in raw material prices may hinder the machine vision market growth.

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Machine Vision Market: Segmentation

The study provides a decisive view of the machine vision market by segmenting it based on component, product, application, camera, industrial vertical, non-industrial vertical, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

Based on component, the machine vision market includes microprocessor, FPGA, microcontroller, LED lighting, deep learning, DSP, optics, processor, application specific, frame grabber, and others.

By product, the market includes PC-based and smart camera-based machine vision systems. Smart cameras are also proficient in the interpretation of labels and guiding products spontaneously without any human participation. Reduced human interference leads to fewer errors and amplified accurateness while checking labels and tags.

By application, the market is classified into recognition, quality control and inspection, identification, measurement, positioning and guidance, and others. The technology is widely used for scanning and recognizing barcodes, labels, and texts, particularly in the packaging industry.

By camera, the market comprises frame rate, sensor type, format, interface standards, and others. Based on industrial vertical, the global market includes consumer electronics, pharmaceutical, glass, printing, wood and paper, solar panel manufacturing, machinery, electronics and semiconductor, automotive, rubber and plastics, metals, food and packaging, and others. The food and beverage industry is anticipated to display the notable growth over the forecast years.

The non-industrial vertical segment consists of the intelligent transportation system, security and surveillance, autonomous cars, healthcare and medical imaging, agriculture, postal and logistics, and others. The healthcare and medical imaging segment is gaining traction in the machine vision market.

Machine Vision Market: Report Scope

Machine Vision Market: Regional Analysis

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia Pacific is projected to attain significant growth rate between 2024 and 2032 in the global machine vision market. Countries like China and India are the major markets for machine vision, due to their rapid rate of economic growth.

Machine Vision Market: Competitive Players

Some key players operating in the machine vision market across the globe are:

• National Instruments
• Basler
• Teledyne Technologies
• JAI
• BaumerOptronic
• Omron
• Cognex
• Sony
• Texas Instruments
• Keyence
• Intel
• Allied Vision Technologies

The Global Machine Vision Market is segmented as follows:

Global Machine Vision Market: Component Analysis

• FPGA
• Processor
• Microcontroller
• DSP
• Optics
• Microprocessor
• LED Lighting
• Frame Grabber
• Application Specific
• Deep Learning
• Others

Global Machine Vision Market: Product Analysis

• Smart Camera-Based
• PC-Based

Global Machine Vision Market: Application Analysis

• Positioning and Guidance
• Quality Control and Inspection
• Identification
• Measurement
• Recognition
• Others

Global Machine Vision Market: Camera Analysis

• Interface Standards
• Sensor Type
• Format
• Frame Rate
• Others

Global Machine Vision Market: Industrial Vertical Analysis

• Consumer Electronics
• Automotive
• Printing
• Electronics and Semiconductor
• Wood and Paper
• Metals
• Rubber and Plastics
• Food and Packaging
• Glass
• Pharmaceutical
• Solar Panel Manufacturing
• Machinery
• Others

Global Machine Vision Market: Non-Industrial Vertical Analysis

• Postal and Logistics
• Healthcare and Medical Imaging
• Security and Surveillance
• Intelligent Transportation System (ITS)
• Agriculture
• Autonomous Cars
• Others

Global Machine Vision Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa