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Report Overview

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

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.

Global Machine Vision Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 10.88
Market Size 2032 USD Billion 21.51
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 7.90%
CAGR 2024-2032 - Market by Region Asia Pacific 8.8%
CAGR 2024-2032 - Market by Country China 8.7%
CAGR 2024-2032 - Market by Country USA 8.5%
CAGR 2024-2032 - Market by Offering Software 8.6%
CAGR 2024-2032 - Market by Product Smart Camera Based 8.3%
Market Share by Country 2023 Germany 4.4%

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. 

CAGR 2024-2032 - Market by Country
China 8.7%
USA 8.5%
UK 8.0%
Australia 7.6%
Mexico 7.4%
Canada XX%
Germany 7.4%
France XX%
Italy XX%
Japan XX%
India XX%
Brazil XX%
Saudi Arabia 7.3%

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.*

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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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63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63 287899028, +63 967 048 3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124