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Machine Vision Market

Global Machine Vision Market Share, Size, Trends, Forecast: By Offering: Hardware, Software, Services; By Product: PC Based, Smart Camera Based; By Application: Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification; By End-Use Industry; Regional Analysis; Competitive Landscape; 2024-2032

Global Machine Vision Market Outlook

The global machine vision market size reached a value of around USD 10.88 billion in 2023. The market is projected to grow at a CAGR of 7.90% between 2024 and 2032, reaching a value of nearly USD 21.51 billion by 2032.

 

machine vision market

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Global Machine Vision Market Trends

Machine vision is a technology that enables industrial equipment and computers to see and make rapid decisions based on the data. This technology is used for various applications, including visual inspection, positioning and measuring parts, and defect detection. It is also capable of identifying, sorting, and tracking products.

 

  • Optical technology, software, and CPU, among other hardware-related technological advancements, are driving the market growth of machine vision. Such advancements are making machine vision simpler for end users while enhancing the performance of the technology and providing it the capability to carry out more complicated tasks.
  • The increasing demand for accurate and reliable inspection and measurement methods is propelling the adoption of machine vision technology in industrial operations. The technology is also gradually replacing manual inspection and measurement methods.
  • Various sectors are increasingly focusing on integrating process automation  and machine vision systems in manufacturing processes to improve productivity while maintaining product quality and meet the increasing demand for products with superior properties.

 

Opportunities and Challenges in the Market

One of the major trends fuelling the machine vision market growth includes the adoption and implementation of advanced technologies following innovations like Industry 4.0 and the Industrial Internet of things (IIoT). The digital transformation of various industrial sectors, coupled with the growing integration of advanced technologies such as analytics, the internet of things (IoT), machine learning, cloud computing, and AI, is also driving the adoption of machine vision.

 

The increasing focus on the development of smart factories equipped with computer vision-enabled equipment, embedded software, advanced sensors, and robotics, to drive real-time decision-making, productivity, and automation is bolstering the market for machine vision.

 

However, this advanced equipment comes with a high initial cost and requires investment in frequent maintenance activities, which can hamper the market growth.

 

Global Machine Vision Market Analysis

 

machine vision market by segments

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Based on the offering, the market can be segmented into hardware, software, and services. Based on the product, it can be bifurcated into PC based and smart camera based. By application, the market can be divided into quality assurance and inspection, positioning and guidance, measurement, and identification. 

 

Based on the end-use industry, the market segmentations include automotive, pharmaceuticals and chemicals, electronics and semiconductors, pulp and paper, printing and labelling, food and beverage, glass and metals, and postal and logistics, among others. The regional markets for machine vision can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. 

 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global machine vision market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • National Instruments Corporation
  • Allied Vision Technologies GmbH
  • Keyence Corporation
  • Cognex Corporation
  • Omron Corporation
  • Teledyne DALSA
  • Atlas Copco
  • Tordivel AS
  • Basler AG  
  • Sick AG
  • Others

 

PC Based Products are the Significant Products in the Market

PC-based machine vision systems account for a significant machine vision market share as they offer enhanced flexibility, enable the use of third-party software packages, and provide high speed and power. Such systems also can efficiently handle complex applications at a high speed while providing a framework for real-time calling of modular software elements.

 

Meanwhile, smart camera-based machine vision systems are expected to register a high growth rate during the forecast period due to the growing implementation of cameras for 3D sensing and imaging. Smart camera-based systems are also applied for the identification of tags and labels while reducing human intervention and the possibility of errors.

 

Market Share by End-Use Industry

The automotive sector holds one of the largest market shares in the global machine vision market. The growth of the market can be attributed to the extensive deployment of machine vision for inspection purposes, assembly verification, error proofing, and final inspection. Additionally, machine vision equipment are deployed in the automobile sector for robotic steering, testing automation, and dimensional measuring, which is further propelling the growth of the market segment.

 

Global Machine Vision Market Share by Region

The Asia Pacific accounts for a major portion of the market for machine vision owing to the rapidly developing industrial sectors such as automotive, packaging, pharmaceutical, and other industrial applications.

 

As the region is undergoing rapid industrialisation, the increasing investment in various industrial sectors for the implementation of advanced technologies is anticipated to provide expansion opportunities to the machine vision market. The robustly growing electronics, semiconductors, and automotive sectors in China, India, South Korea, and Japan is also providing lucrative growth opportunities to the market for machine vision.

 

machine vision market by region

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Competitive Landscape

Allied Vision Technologies GmbH is an appliance, electrical, and electronics manufacturing company based in Germany. Since 1989, the company has pursued the development of state-of-the-art camera technology and image-capturing solutions. Its technologies are applied in various fields such as medical and scientific imaging, traffic monitoring, and industrial inspection, among other applications. It specialises in various fields including machine vision, image processing, medical imaging, industrial inspection, and embedded vision, among others.

 

Omron Corporation is a Japan-based electronics company and a global leader in the field of industrial automation. The company was established in 1933 and has since developed its business expertise in various fields, including control equipment, social systems, electronic components, and healthcare. The company’s product portfolio is comprised of a wide spectrum of products, including switches, safety components, relays, motion drivers, and sensors such as machine vision sensors.

 

Basler AG, founded in 1988, is based in Ahrensburg, Germany. It is one of the leading manufacturers of advanced imaging components for computer vision. It has developed multiple products such as computer vision software, cameras, frame grabbers, PC Cards, and embedded vision portfolios, among other products. Its products are utilised in a wide array of end-use sectors such as factory automation, traffic management, medical, robotics, logistics, and retail, among others.

 

Other market players include Cognex Corporation, Keyence Corporation, National Instruments Corporation, Sick AG, Atlas Copco, Tordivel AS, and Teledyne DALSA, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Offering
  • Product
  • Application
  • End-Use Industry
  • Region
Breakup by Offering
  • Hardware
  • Software
  • Services
Breakup by Product
  • PC Based
  • Smart Camera Based
Breakup by Application
  • Quality Assurance and Inspection
  • Positioning and Guidance
  • Measurement
  • Identification
Breakup by End-Use Industry
  • Automotive
  • Pharmaceuticals and Chemicals
  • Electronics and Semiconductor
  • Pulp and Paper
  • Printing and Labeling
  • Food and Beverage
  • Glass and Metals
  • Postal and Logistics
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis 
  • Porter's Five Forces Analysis 
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • National Instruments Corporation
  • Allied Vision Technologies GmbH
  • Keyence Corporation
  • Cognex Corporation
  • Omron Corporation
  • Teledyne DALSA
  • Atlas Copco
  • Tordivel AS
  • Basler AG  
  • Sick AG
  • Others

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Machine Vision Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Machine Vision Historical Market (2018-2023) 
    8.3    Global Machine Vision Market Forecast (2024-2032)
    8.4    Global Machine Vision Market by Offering
        8.4.1    Hardware
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Software
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Services
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Machine Vision Market by Product
        8.5.1    PC Based
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Smart Camera Based
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Machine Vision Market by Application
        8.6.1    Quality Assurance and Inspection
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Positioning and Guidance
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Measurement
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Identification
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
    8.7    Global Machine Vision Market by End-Use Industry
        8.7.1    Automotive
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Pharmaceuticals and Chemicals
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Electronics and Semiconductor
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Pulp and Paper
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Printing and Labeling
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Food and Beverage
            8.7.6.1    Historical Trend (2018-2023)
            8.7.6.2    Forecast Trend (2024-2032)
        8.7.7    Glass and Metals
            8.7.7.1    Historical Trend (2018-2023)
            8.7.7.2    Forecast Trend (2024-2032)
        8.7.8    Postal and Logistics
            8.7.8.1    Historical Trend (2018-2023)
            8.7.8.2    Forecast Trend (2024-2032)
        8.7.9    Others
    8.8    Global Machine Vision Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023) 
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023) 
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023) 
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023) 
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023) 
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Machine Vision Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Machine Vision Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Machine Vision Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Machine Vision Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Machine Vision Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis  
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Allied Vision Technologies GmbH
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Omron Corporation
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Basler AG  
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Cognex Corporation
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Keyence Corporation
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    National Instruments Corporation
            15.2.6.1    Company Overview
            15.2.6.2    Product Portfolio
            15.2.6.3    Demographic Reach and Achievements
            15.2.6.4    Certifications
        15.2.7    Sick AG
            15.2.7.1    Company Overview
            15.2.7.2    Product Portfolio
            15.2.7.3    Demographic Reach and Achievements
            15.2.7.4    Certifications
        15.2.8    Atlas Copco
            15.2.8.1    Company Overview
            15.2.8.2    Product Portfolio
            15.2.8.3    Demographic Reach and Achievements
            15.2.8.4    Certifications
        15.2.9    Tordivel AS
            15.2.9.1    Company Overview
            15.2.9.2    Product Portfolio
            15.2.9.3    Demographic Reach and Achievements
            15.2.9.4    Certifications
        15.2.10    Teledyne DALSA
            15.2.10.1    Company Overview
            15.2.10.2    Product Portfolio
            15.2.10.3    Demographic Reach and Achievements
            15.2.10.4    Certifications
        15.2.11    Others  
16    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Machine Vision Market: Key Industry Highlights, 2018 and 2032
2.    Global Machine Vision Historical Market: Breakup by Offering (USD Billion), 2018-2023
3.    Global Machine Vision Market Forecast: Breakup by Offering (USD Billion), 2024-2032
4.    Global Machine Vision Historical Market: Breakup by Product (USD Billion), 2018-2023
5.    Global Machine Vision Market Forecast: Breakup by Product (USD Billion), 2024-2032
6.    Global Machine Vision Historical Market: Breakup by Application (USD Billion), 2018-2023
7.    Global Machine Vision Market Forecast: Breakup by Application (USD Billion), 2024-2032
8.    Global Machine Vision Historical Market: Breakup by End-Use Industry (USD Billion), 2018-2023
9.    Global Machine Vision Market Forecast: Breakup by End-Use Industry (USD Billion), 2024-2032
10.    Global Machine Vision Historical Market: Breakup by Region (USD Billion), 2018-2023
11.    Global Machine Vision Market Forecast: Breakup by Region (USD Billion), 2024-2032
12.    North America Machine Vision Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    North America Machine Vision Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Europe Machine Vision Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Europe Machine Vision Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Asia Pacific Machine Vision Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Asia Pacific Machine Vision Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Latin America Machine Vision Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Latin America Machine Vision Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Middle East and Africa Machine Vision Historical Market: Breakup by Country (USD Billion), 2018-2023
21.    Middle East and Africa Machine Vision Market Forecast: Breakup by Country (USD Billion), 2024-2032
22.    Global Machine Vision Market Structure

Key Questions Answered in the Report

In 2023, the global market for machine vision reached a size of nearly USD 10.88 billion.

The market is assessed to grow at a CAGR of 7.90% during the period 2024-2032.

The market is projected to reach a value of around USD 21.51 billion in 2032.

The growing implementation of smart cameras and sensors in different industrial sectors, increasing automation and technological advancements, and the increasing proficiency of machine vision technology are the major drivers of the market.

The increasing adoption and implementation of industry 4.0, the robustly growing automotive sector, and the rising development of smart factories are the key trends driving the market growth.

The major regions in the machine vision market include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The various offerings of machine vision considered in the market report include hardware, software, and services.

The major products considered in the market report include PC based and smart camera based.

The different applications of machine vision include assurance and inspection, positioning and guidance, measurement, and identification.

The significant end-use industries of machine vision include automotive, pharmaceuticals and chemicals, electronics and semiconductors, pulp and paper, printing and labelling, food and beverage, glass and metals, and postal and logistics, among others.

The key players in the market include National Instruments Corporation, Allied Vision Technologies GmbH, Keyence Corporation, Cognex Corporation, Omron Corporation, Teledyne DALSA, Atlas Copco, Tordivel AS, Basler AG, Sick AG, Others.

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