The global Machine Vision Market size is expected to reach
USD 25.92 billion by 2030, according to a new report by Grand View Research,
Inc. It is expected to expand at a CAGR of 7.7% from 2022 to 2030. The ability
of machine vision systems to process a large amount of information in a
fraction of seconds is a major factor driving the market. The quick processing
ability of machine vision systems is paving the way for manufacturers to
achieve new milestones in manufacturing products with negligible defects.
Moreover, the increasing adoption of robots across the industrial sectors is leading
to the application of vision-guided robotic systems. Industrial verticals such
as automotive, pharmaceutical, packaging, and food and beverage are prominent
sectors where robotic systems are used, eventually fueling the demand for
machine vision systems.
The machine vision technology encompasses various
components in order to capture images of products to analyze them depending on
different parameters of quality and safety. The technology is a combination of
software and hardware that provides operational control to devices to execute
functions such as capturing and processing images and measuring various
characteristics required for decision making. Major components of the system
comprise lighting, lens, image sensors, vision processing, and communication
devices. Machine vision systems assist in resolving complicated industrial
tasks with reliability.
Industrial machine vision systems are usually more
robust and demand high reliability, stability, and accuracy as compared to
those used in institutional or educational applications. They cost lesser than
systems used in military, aerospace, defense, and government applications.
These factors are expected to lead to greater adaptability of the technology in
the industrial sectors. In addition, the robotic vision systems used across the
industries are also leading to the increasing adoption of the technology,
thereby strengthening the overall market.
The technology has proven to be of key importance in
the area of manufacturing and quality control owing to the increasing need for
quality inspection and production. In addition, the growing automation in
industrial segments is facilitating the growth of the market at a considerable
rate. The technology has been witnessing extensive developments and innovative
upgrades since its emergence. Several factors such as the growing inception of
the technology and the increasing need for quality products are influencing the
market growth. Furthermore, machine vision systems are gaining traction in
medical and healthcare applications at a considerable pace. The analysis of
medical images and robotic applications for carrying out various medical
activities are the key roles of the technology in these sectors.
The automotive end-use industry held the largest
revenue share in 2021. The inspection process which includes error-proofing and
presence/absence checking, among others is responsible for the adoption of
machine vision in the automotive industry. The food and beverage industry is
expected to witness the highest growth over the projected period owing to the
use of machine vision systems in packaging and bottling operations.
The Asia Pacific region grabbed the largest revenue
share in 2021, which can be attributed to ample opportunities offered on
account of large manufacturing practices carried out in the region. Countries
such as China, Japan, Australia, and Singapore are considered to be potential
markets for upcoming technologies, including machine vision. The region’s
significant industrial expansion has been contributing to the prosperity and
development of various innovations and the adoption of different technologies
significantly.
In addition, factors such as increasing focus on
developments, expenditures on vision-related research activities, and the
growing manufacturing base in the region are expected to spur the market growth
in Asia Pacific. The regional market is anticipated to exhibit the fastest
growth rate over the forecast period. The industry is facing challenges due to
the lack of awareness among users regarding the rapidly advancing machine
vision technology. Moreover, the complexity of integrating machine vision
systems is a major difficulty being faced by manufacturers, which is
restraining the smoother growth of the industry.
Related Press Release@ Machine Vision Market Report
Machine Vision Market Report
Highlights
- The PC-based product segment accounted for the largest revenue
share in 2021 and is estimated to dominate the market over the forecast
period
- The identification application segment is anticipated to exhibit
the fastest growth rate over the forecast period followed by the
positioning and guidance application segment
- By end-use industry, the food and beverage industry is expected to
register the highest CAGR over the forecast period
- The industry is expected to witness substantial growth in the Asia
Pacific region over the next decade. This growth is witnessed in the wake
of ample opportunities offered due to the presence of large manufacturing
hubs in prominent countries (across the food and packaging, automotive,
pharmaceutical, industrial, and consumer electronic sectors) such as China
and Japan
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment