Report Id: SNS/SEMI/2204 | July 2022 | Region: Global | 145 Pages
Report Scope & Overview:
The Machine Vision Market Size was valued at USD 14.31 billion in 2022, and expected to reach USD 25.71 billion by 2030, and grow at a CAGR of 7.6% over the forecast period 2023-2030.
Miniaturization may be viewed as a development in the production of more compact optical and electronic products and gadgets. A reduction in size but an improvement in ability is referred to as miniaturization. We can observe that the tendency toward compact gadgets is steadily expanding when we look at the current situation. Machine miniaturization is progressing quickly. The structure of these miniaturize goods is extremely complex. These miniaturize items need to be examined. However, the examination of these miniaturize goods goes beyond what the human eye can see. The visual inspection and decision-making abilities of humans are successfully replaced by the machine vision system. For inspection and measurement, machine vision systems employ cameras with a range of characteristics, sensors, and image processing. Machine vision systems are effectively used to check and measure miniaturized objects, machinery, and gadgets.
Increased demand for ASICs.
Rising need for robotic systems with vision guidance.
Increasing demand for automation and quality control.
Insufficiently qualified workers in manufacturing facilities.
Increasing threat of cyberattacks on machines and robots used in industry.
Insufficient adaptable machine vision solutions.
The deployment of vision-guided industrial robots and other automation technologies, particularly in China, is being driven by rising salaries.
Government programmes to advance technology connected to AI.
Increasing the production of electric and hybrid cars.
Lack of user knowledge of machine vision technology's quick change.
Integration of machine vision systems' inherent complexity.
IMPACT OF COVID-19:
With the COVID-19 disaster, the world is witnessing a health crisis, as well as an economic epidemic. This has led many businesses to close down their manufacturing industries and stop most of their operations. At this critical juncture, the main purpose of companies is to stabilize their businesses by finding secure ways to continue their productive work or to explore other sustainable ways to make their money flow. The market concept of the machine vision in the pre- and post-COVID-19 scenario has been extensively analyzed in this study.
Based on Product, the machine vision market is segmented into Smart Cameras and PC- based. Machine vision systems, also called detection systems, have multiple cameras. Sometimes, depending on needs, these cameras are mounted on assembly lines to monitor and evaluate products and capture data. This leads to greater adoption of smart cameras in these systems. Cameras can also read labels and direct products automatically without human involvement. Reduced human intervention has led to reduced errors and increased accuracy in testing labels and tags. These smart camera features contribute to the adoption of technology in various industrial sectors, thereby accelerating market growth as a whole.
Based on Application, the machine vision market is segmented into Quality Assurance & Inspection, Measurement, Predictive maintenance, Positioning & Guidance and Identification. On the basis of the application, the market is divided into quality assurance and testing, standing and direction, measurement, and identification. Systems are widely used to scan and identify labels, barcodes, and documents, especially in the packaging sector. This performs automatic packing operations, thus saving time, avoiding human errors, and increasing efficiency.
Based on End Use Industry, the machine vision market is segmented into Automotive, Food & Packaging, Consumer Electronics, Metals, Pharmaceuticals, Printing, Solar Panel Manufacturing, Electronics and Semiconductor, Glass, Wood and Paper, Rubber & Plastics, Machinery/Equipment and Textile. Due to a shortage of skilled workers, automotive companies are increasingly focusing on changing themselves in their production processes. Machine detection enables the measurement of the size of precision machine components, such as connectors, transmitters, and other sub-assemblies such as IVS-ASAI. In machine vision systems, dimensional gauging measuring lines, angles, diameters, and tolerances. Diagnostic systems are easily configured to follow all of these guidelines and measurement instructions. In doing so, machine vision ensures that only parts with accurate tolerance levels are included in the vehicle assembly line. The growing production of integrated and electric vehicles is expected to provide growth opportunities in the automotive machine vision market in the automotive industry.
The key players in the machine vision market are Allied Vision Technologies, Cognex Corporation, LMI Technologies, National Instruments Corporation, Sick, Basler, Keyence Corporation, Microscan Systems, OMRON Corporation and Tordivel.
General machine vision system
Quality Assurance & Inspection
Positioning & Guidance
BY END-USE INDUSTRY
Food & Packaging
Solar Panel Manufacturing
Electronics and Semiconductor
Wood and Paper
Rubber & Plastics
APAC is expected to grow at the highest CAGR in the machine vision market. Countries such as China, Japan, and South Korea are expected to make a significant contribution to the APAC market. The increase in manufacturing activity contributes mainly to China's economic development, and the growing need to integrate Industry 4.0 and improved production methods to increase automation across all Indian applications contributes to the growing AI growth in the APAC computer vision.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 14.31 Billion|
|Market Size by 2030||US$ 25.71 Billion|
|CAGR||CAGR of 7.6% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Component (Hardware, Software, Service)
• By Product (Smart Cameras, PC- Based)
• By Deployment (Robotic Cell, General Machine Vision System)
• By Application (Quality Assurance & Inspection, Measurement, Predictive Maintenance, Positioning & Guidance, Identification)
• By End Use Industry (Automotive, Food & Packaging, Consumer Electronics, Metals, Pharmaceuticals, Printing, Solar Panel Manufacturing, Electronics And Semiconductor, Glass, Wood And Paper, Rubber & Plastics, Machinery/Equipment, Textile)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Allied Vision Technologies, Cognex Corporation, LMI Technologies, National Instruments Corporation, Sick, Basler, Keyence Corporation, Microscan Systems, OMRON Corporation and Tordivel.|
|Key Drivers||• Increased demand for ASICs.
• Rising need for robotic systems with vision guidance
• Increasing demand for automation and quality control.
|Restraints||• Insufficiently qualified workers in manufacturing facilities.
• Increasing threat of cyberattacks on machines and robots used in industry.
• Insufficient adaptable machine vision solutions.
Frequently Asked Questions (FAQ) :
The Industrial Refrigeration Market size was valued at 13.3 billion in 2021 at a CAGR of 7.6%.
The market value is expected to reach USD 22.2 billion by 2028.
The market has been segmented with respect to component, product, deployment, end-use industry and application.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
22.214.171.124 United Kingdom
126.96.36.199 South Korea
188.8.131.52 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Machine Vision Market Segmentation, by component
9. Machine Vision Market Segmentation, by product
9.2 Smart Cameras
9.3 PC- based
10. Machine Vision Market Segmentation, by deployment
10.2 Robotic cell
10.3 General machine vision system
11. Machine Vision Market Segmentation, by application
11.2 Quality Assurance & Inspection
11.4 Predictive maintenance
11.5 Positioning & Guidance
12. Machine Vision Market Segmentation, by end use industry
12.3 Food & Packaging
12.4 Consumer Electronics
12.8 Solar Panel Manufacturing
12.9 Electronics and Semiconductor
12.11 Wood and Paper
12.12 Rubber & Plastics
13. Regional Analysis
13.2 North America
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4.2 South Korea
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.3 South Africa
13.6 Latin America
13.6.3 Rest of Latin America
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Allied Vision Technologies
14.3 Cognex Corporation
14.4 LMI Technologies
14.5 National Instruments Corporation
14.8 Keyence Corporation
14.9 Microscan Systems
14.10 OMRON Corporation
15.1 Competitive Benchmark
15.2 Market Share analysis
15.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.