Machine Vision Technology Market Scope
The machine vision technology has rapidly evolved from stand-alone proprietary box modules to modular vision components and 3D displacement sensors. It consists of several features such as algorithms & software that can widely applicable in performing optical sensing to analyze and interpret parts of models. It has been observed that increasing Machine Vision technology by the key players in manufacturing market is expected to flourish the global Machine Vision technology market in future due to higher productivity & flexibility in the production process, tighter process control and reduce machine downtime. The manufacturers of vision technology products are expanding their businesses in Asia-Pacific countries as these countries are more prone to robotics, dimensional gaging operations and code reading.
The market study is being classified by Type (PC Based Machine Vision Technology, Embedded Machine Vision Technology, Smart Cameras Based Machine Vision Technology, Frame Grabber, Lighting and Lenses), by Application (Positioning, Identification, Verification, Measurement and Flaw Detection) and major geographies with country level break-up. According to AMA, the Global Machine Vision Technology market is expected to see growth rate of 7.9% and may see market size of USD16976.3 Million by 2024.
The machine vision technology market offers competitive advantages by using improved qualitative and qualitative interpretation that prevents part damages and eliminates the maintenance time and costs associated with wear and tear on mechanical components .The product are most prefer due to its prevention against harsh environmental conditions. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Machine Vision Technology market throughout the predicted period.
Cognex Corporation (United States), Teledyne Technologies, Inc. (United States), Keyence Corporation (Japan), National Instruments Corporation (United States), Texas Instruments, Inc. (United States), Basler AG (Germany), Baumer Optronic GmbH (Switzerland), Sick AG (Germany), Omron Corporation (Japan) and Allied Vision Technologies GmbH (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Intel Corporation (United States), Jai A/S (Denmark), Canon Inc. (Japan), Datalogic S.p.A. (Italy) and Adept Technology (United States).
AdvanceMarketAnalytics has segmented the market of Global Machine Vision Technology market by Type, Application and Region. On the basis of Type, Product Type are dominating the market in the year 2018 where as PC Based Machine Vision Technology stood as second largest market share.
On the basis of application, Application segment is dominating the market in the year 2018 where as Positioning segment stood as second largest market.
On the basis of geography, the market of Machine Vision Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Measurement Type, the sub-segment i.e. 1D Measurement will boost the Machine Vision Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Vertical, the sub-segment i.e. Industrial will boost the Machine Vision Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Hardware will boost the Machine Vision Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In October 17, 2018, TKH Group acquired Lakesight Technologies. This acquisition is beneficial in providing core technology solution such as vision & security, mission critical communication, connectivity, and smart manufacturing in the domain of Telecom, Building, and Industry.
In November 2018, Inspekto launched a S70 Autonomous Machine Vision system which is beneficial in providing simple, intuitive user interface that designed to offer full archiving & traceability Meta data across the production tiers.
- Collaboration and Tie Up Of Leading Players.
- Increase demand of assembly verification, flaw detection and paint job verification.
- Increase in Demand of Automation in Industrial Applications.
- Rapid Evolution of CMOS Image Sensors.
- Rise in Demand of Miniaturization of Machine Vision System.
- Adoption of Technology Boost the Demand of Machine Vision Technology.
- Lack of Professional Engineers Associated With Machine Vision Technology Operations.
- The Price of The Machine Vision Technology is Quite High.
- The Sensitivity of the Machine is Low as Compared To 80%.
Key Target AudienceMachine Vision Technology Manufacturers, Machine Vision Technology Traders, End-Use Market Participants of Different Segments of Machine Vision Technology, Government and Research Organizations, Associations and Industrial Bodies, Research and Consulting Firms, R&D Institutions and Others
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