Machine Vision Market Report Scope & Overview:

The Machine Vision Market Size was valued at USD 9.76 billion in 2023 and is expected to reach USD 18.62 billion by 2031 and grow at a CAGR of 8.4% over the forecast period 2024-2031.

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 Vision Market Revenue Analysis

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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




  • 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.


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.



  • Hardware

  • Software

  • Service


  • Smart Cameras

  • PC- based


  • Robotic cell

  • General machine vision system


  • Quality Assurance & Inspection

  • Measurement

  • Predictive maintenance

  • Positioning & Guidance

  • Identification


  • Automotive

  • Food & Packaging

  • Consumer Electronics

  • Metals

  • Pharmaceuticals

  • Printing

  • Solar Panel Manufacturing

  • Electronics and Semiconductor

  • Glass

  • Wood and Paper

  • Rubber & Plastics

  • Machinery/Equipment

  • Textile 


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.


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  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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


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, Tordivel & Other Players.

Cognex Corporation-Company Financial Analysis

Company Landscape Analysis

Machine Vision Market Report Scope:

Report Attributes Details
Market Size in 2023 US$ 9.76 Billion
Market Size by 2031 US$ 18.62 Billion
CAGR CAGR of 8.4% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
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

Ans: The Machine Vision Market size was valued at US$ 14.31 billion in 2022.

The market value is expected to reach USD 25.71 billion by 2030.

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.

Ans: The Machine Vision Market is to grow at a CAGR of 8.4% during the forecast period 2024-2031.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology


3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea Rest of the World

5. Value Chain Analysis


6. Porter’s 5 forces model


7.  PEST Analysis


8. Machine Vision Market Segmentation, by component


8.2 Hardware

8.3 Software

8.4 Service

9. Machine Vision Market Segmentation, by Product


9.2 Smart Cameras

9.3 PC- based

10. Machine Vision Market Segmentation, by Deployment

10.1 Introduction

10.2 Robotic cell

10.3 General machine vision system

11. Machine Vision Market Segmentation, by Application

11.1 Introduction

11.2 Quality Assurance & Inspection

11.3 Measurement

11.4 Predictive maintenance

11.5 Positioning & Guidance

11.6 Identification

12. Machine Vision Market Segmentation, by End-use Industry

12.1 Introduction

12.2 Automotive

12.3 Food & Packaging

12.4 Consumer Electronics

12.5 Metals

12.6 Pharmaceuticals

12.7 Printing

12.8 Solar Panel Manufacturing

12.9 Electronics and Semiconductor

12.10 Glass

12.11 Wood and Paper

12.12 Rubber & Plastics

12.13 Machinery/Equipment

12.14 Textile  

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America

14. Company Profiles

14.1 Tordivel

14.1.1 Financial

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

14.6 Sick

14.7 Basler

14.8 Keyence Corporation

14.9 Microscan Systems

14.10 OMRON Corporation

15. Competitive Landscape

15.1 Competitive Benchmark

15.2 Market Share Analysis

15.3 Recent Developments

16. Conclusion

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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.

Secondary Research

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.

Primary Research

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.

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Data Bank Validation

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