Semiconductor and Electronics Machine Vision Market is projected to grow up to 6.8% CAGR during the forecasting period 2...

Machine Vision Market is projected to grow up to 6.8% CAGR during the forecasting period 2021-2027.

Machine Vision systems use one or more video cameras, digital signal processing, and analogue to digital conversion to allow a computer to observe, inspect, and evaluate work performance. The data is subsequently sent to a computer, which analyses it and generates the desired output. Any MV system must have both high resolution and sensitivity. Resolution is responsible for distinguishing between things, whereas sensitivity refers to the machine's ability to detect objects or weak signals in dim light or at wavelengths that are imperceptible to the naked eye. The expansion of the machine vision system market is fueled by an increase in demand for industrial applications and a rise in demand for vision guided robotics systems. However, a scarcity of experienced professionals in manufacturing units is a major impediment to its adoption, limiting the market's growth. On the other hand, the machine vision system market is expected to benefit from the rise in acceptance of internet of things (IoT) and AI (Artificial Intelligence) as well as the adoption of industry 4.0 over the forecast period. To examine the market's effect forces and prospective prospects, the research includes an in-depth examination of the competitive landscape, product market size, product benchmarking, market trends, product innovations, financial analysis, strategic analysis, and so on. Aside from that, the report examines important market trends such as product launches, agreements, acquisitions, collaborations, mergers, and so on in order to comprehend the current market dynamics and their influence over the forecast period of 2021-2027

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Key Driving Factors: Demand for Automation in Industrial Applications Is Growing

Machine vision effectively replaces human specialists for visual inspection and quality control since it is the ideal answer in the case of time-consuming inspections where precise data can be collected rapidly. Advances in machine vision technology and related software tools have enabled manufacturers to deploy visual inspections that demand high-speed, high-magnification, 24-hour operation, and repeatability of measurements, according to a machine vision system market analysis. As a result, the machine vision system market is growing due to an increase in demand for automation in industrial applications.

Driving Factor: The demand for quality inspection and automation is growing.

Following COVID-19, manufacturing organisations throughout the world are ready to spend more in automation, and the demand for automated quality assurance has grown as businesses acknowledge its importance in production processes. However, because there is less human engagement in the process, this need has grown even more after the breakout of COVID-19. As a result, machine vision is now widely recognised as an important component of long-term automation development processes.

This report offers the major market player’s profiles, such as Cognex Corporation (US), Basler AG (Germany), Omron Corporation (Japan), Keyence (Japan), National Instruments (US), Sony Corporation (Japan), Teledyne Technologies (US), Texas Instruments (US), Intel Corporation (US), ISRA Vision (Germany), Sick AG (Germany) and FLIR Systems (US).

Based on Application:  The market has been divided into quality assurance and inspection, positioning and guidance, measurement, and identification categories based on application. Particularly in the packaging industry, the systems are widely utilised for scanning and detecting labels, barcodes, and texts. This saves time, eliminates human errors, and increases efficiency by automating packaging tasks. Consumer goods, pharmaceuticals, and packaging are all industries that use the technique. Technology use in various industries has resulted in a significant reduction in counterfeit items, hence driving the entire industry. 

The Machine Vision Market report has been categorized as below

By deployment

  • General machine vision system

  • Robotic cell

By offering

  • Hardware

    • Camera

      • Interface Standards

        • Camera Link

        • GigE

        • USB 3.0

        • Coaxpress

        • Others

      • Imaging Spectrum

        • Visible

        • Visible +IR/IR

      • By Frame Rate

        • <25 FPS

        • 25–125 FPS

        • >125 FPS

      • By Format

        • Line Scan

        • Area Scan

      • By Sensor Type

        • CMOS

        • CCD

    • Frame Grabber

    • Optics

    • LED Lighting

    • Processor

      • FPGA

      • DSP

      • Microcontroller and Microprocessor

      • Vision processing Unit

  • Software

    • Application-Specific

    • Deep Learning Software

By Product

  • PC- based vision system

  • Smart Cameras- based vision system

By Application

  • Quality Assurance & Inspection

  • Positioning & Guidance

  • Measurement

  • Identification

  • Predictive maintenance

By End-user Industry

  • Automotive

  • Electronics and Semiconductor

  • Consumer Electronics

  • Glass

  • Metals

  • Wood and Paper

  • Pharmaceuticals

  • Food & Packaging

  • Rubber & Plastics

  • Printing

  • Machinery/Equipment

  • Solar Panel Manufacturing

  • Textile

By Region

  • North America

  •  Europe

  • Asia Pacific

  • Rest of World

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Published Date : August-2021