The global machine vision market was valued at 13.23 Billion in 2021. It is projected to grow at a compound annual rate of 7.7% between 2022 and 2030. This market will be driven by the increasing demand for quality control and automation in various industrial verticals. The call will also be caused by the growing demand for vision-guided robot systems in the automotive, food, beverage, and chemical segments. Over the forecast period, the market growth will be fueled by the increased demand for application-oriented machine vision systems.
MV systems allow a computer to monitor, inspect and analyze work performance using one or more cameras, digital signal processing, and analog-to-digit conversion. The data captured is then sent to the computer for analysis and output. Two critical aspects of any MV system are resolution and sensitivity. The machines’ ability to distinguish between objects is called resolution. Sensitivity is the machines’ ability to detect weak impulses or dim lights and detect objects.
These systems are advantageous in monitoring work environments. It provides features like process control, robotic guidance, and automatic inspection for industrial applications. The complexity of industrial production and manufacturing activities is increasing day-to-day, making it more difficult and less reliable for the human eye.
This technology is rapidly becoming more popular in industrial operations. It is replacing manual inspections and measurements and increasing the need for reliable and efficient checks and measures. Machine vision systems use intelligent cameras and image processing for inspections and measurements.
Machine vision technology is being adopted because of the increasing need for better inspection and increased automation. Government regulations and increased quality control will accelerate machine vision technology adoption.
This technology is rapidly gaining traction in food and pharmaceutical, automotive, and other industrial verticals due to its improved detection of objects and analysis, tolerance monitoring, component measurement, and monitoring tolerance.
These factors will all be a significant drivers of market growth in the future. Inefficient system operators and inadequate training likely impede the market’s slow growth.
Due to government measures like lockdowns and border closures, the outbreak of COVID-19 has negatively impacted the economy, causing manufacturing, procurement, and delivery delays. China, one of the first Asian countries to begin its economic activity, has experienced a rise in its economic growth. However, Europe and the U.S. were experiencing a positive turnaround, but the economic trend was still slow.
Machine Vision Market Report Scope and Segmentation
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
The hardware segment was the most profitable in 2021, with a revenue share greater than 60.0%. It is expected to continue dominating the market for the forecast period. The market is divided into three segments: hardware, software, and services.
Hardware components include many objects, such as sensors, processors, and frame grabbers. They also include LED lighting and optics. The largest revenue share for cameras in 2021 was increased demand for CMOS image sensors. The hardware segment is further divided based on the hardware components used in machine vision systems. These include the camera, frame grabber optics, LED lighting, and processor sub-segments.
Software offerings can be divided into two sub-categories: application-specific and deep learning MV. The software market is segmented by application and based on the necessity of the application. Because of the contribution of deep learning and training to the technology’s growth, the software segment will see a steady increase in the forecast period.
Deep learning software is expected to grow fastest during the forecast period. This is due to the increasing demand for intelligent vision systems that can react intelligently to different industries.
In the services segment, machine-vision providers provide mainly two types of services: integration and management. Machine vision system integrators can be used to inspect, test, assemble, gauge, and assist customers in meeting their product specifications. Solution management can be used to perform single-step debug operations and inspection control (start/stop) as well as open and save solutions.
Due to the high market share of hardware components, the offering segment will experience steady growth over the forecast period. Over the forecast period, the hardware offering segment will continue to grow. The software segment will also contribute to overall industry growth and strengthen the market.
Report Coverage & Deliverables
PDF report & online dashboard will help you understand:
- Competitive benchmarking
- Historical data and forecasts
- Shares of revenue from companies
- Opportunities in the region
- Latest trends & dynamics
The PC-based segment had the highest revenue share, with 55.0%. This segment is expected to grow and continue leading the market in terms of revenue for the estimated time. This product segment can be sub-categorized into smart camera-based and PC-based systems.
The fastest growth rate for intelligent camera-based systems is 8.0% between 2022 and 2030. The growing use of 3D imaging cameras is responsible for the significant growth in this segment.
Many cameras are used in machine vision systems (also called vision systems). These cameras can be mounted on assembly lines depending on the needs. They are used to inspect and record data and observe products. These innovative cameras are now more popular.
Cameras can read labels and direct products without human intervention. The reduction of human intervention has resulted in fewer errors and better accuracy when inspecting labels and tags. These features of intelligent cameras have influenced the adoption of the technology in various industries, which has fueled the overall market growth.
The automotive end-use sector held the largest revenue share, at over 15.0%, in 2021. The market can be divided into segments based on its end-use industry: automotive, pharmaceuticals, chemicals, electronics, semiconductors, pulp, paper, printing, labeling, food, beverage (packaging, bottling), glass, metal, logistics, and other. The automotive industry is currently the largest user of machine vision systems in the world and will continue to grow steadily over the forecast period.
Machine vision is used extensively in the automotive inspection. This includes inspections such as assembly verification, error proofing, and presence-absence checking. The MV system can also be used for dimensional gauging and robotic guidance. These are all part of the measure, gauge, and guide applications. The demand for mechanized imagery is high in the automotive sector, and it is expected to grow steadily.
The food and beverage industries are expected to experience the fastest growth rates over the forecast period. The packaging and bottling of food and beverages are where the most prominent use of MV systems is. The machine vision systems will be closely followed by the end-user segment of the food and beverages industry. They are expected to see significant growth in pharmaceuticals, chemicals, printing, labeling, and other verticals. These include agriculture, rubber processing, plastic processing, security and surveillance, machinery and equipment, and solar paneling.
The quality assurance and inspection segment accounted for over 50% of the total revenue in 2021. The market can be divided into three parts based on its application: quality assurance and inspection, positioning and guidance, measurement, and identification. These systems are used extensively in packaging to scan and identify labels, barcodes, and texts. This system automates packaging activities and saves time. It also eliminates human errors and increases efficiency.
This technology is used frequently in the packaging, pharmaceutical, and consumer goods sectors. These sectors have seen a significant reduction in counterfeit products, which eventually helped the overall market gain acceptance and gained more adoption.
Machine imaging can also be used for surveillance cameras, traffic monitoring, and identification of number plates for security. Due to many advantages and opportunities available to the technology, the identification segment will grow at an 8.7% CAGR from 2022 through 2030.
The Asia Pacific was the dominant market, with a share of more than 40.0% in 2021. It is expected to grow at an impressive rate between 2022 and 2030. This region’s large market share and growth can be attributed to lucrative opportunities in automotive, pharmaceutical, and other industrial uses in the Asia Pacific region.
The technology is expected to gain substantial traction as the region establishes itself to be a global manufacturing center. China and Japan are two countries that have the potential to provide ample opportunities for both matured and emerging technologies like machine vision. Numerous manufacturing industries contribute to regional economic growth.
In the Asia Pacific, different industry players are encouraged to set up production units and increase their spending.
Moreover, significant players are taking strategic initiatives like mergers and acquisitions, distribution alliances, and partnerships to enhance machine vision technology. These factors will drive the Asia Pacific market’s growth.
Key Companies & Market share Insights
The opportunities offered by developing and developed countries such as Brazil, Germany, China, Japan, and Australia are more significant than ever. This is why the major players in the global machine vision market are constantly seeking new product development and venture capital investments to increase their market presence. The following are some of the most prominent players in global machine vision markets:
- Allied Vision Technologies GmbH
- Basler AG
- Cognex Corporation
- Keyence Corporation
- LMI Technologies, Inc.
- Microscan Systems, Inc.
- National Instruments Corporation
- OMRON Corporation
- Sick AG
- Tordivel AS
The Report Covers Certain Segments
This report predicts revenue growth at both the country and global levels. It also analyzes industry trends and potential opportunities for each sub-segment from 2017 to 2030. MarkWide Research divided the global machine vision market report based on Offering, product, app, end-use industry, and region.
- Frame Grabber
- LED Lighting
- Barcode Reading
- Standard Algorithm
- Deep Learning Software
- Solution Management
- Product Outlook
- Smart Camera-Based
- Application Outlook
- Quality Assurance and Inspection
- Guidance and Positioning
- End-use Industry Outlook
- Pharmaceuticals & Chemicals
- Electronics & Semiconductor
- Pulp & Paper
- Printing and Labeling
- Food & Beverage (Packaging, Bottling)
- Glass & Metal
- Postal & Logistics
- Other (Agriculture, Security & Surveillance, Rubber, Plastics, Solar Paneling, Machinery, etc.
- Regional Outlook
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
- North America