The global machine vision market size is expected to reach USD 41.60 billion by 2030, according to a new report by Grand View Research, Inc. The ability of machine vision systems to process a large amount of information in a fraction of seconds is a major factor driving the market. The quick processing ability of machine vision systems is paving the way for manufacturers to achieve new milestones in manufacturing products with negligible defects. Moreover, the increasing adoption of robots across the industrial sectors is leading to the application of vision-guided robotic systems. Industrial verticals such as automotive, pharmaceutical, packaging, and food and beverage are prominent sectors where robotic systems are used, eventually fueling the demand for machine vision systems.
The machine vision technology encompasses various components in order to capture images of products to analyze them depending on different parameters of quality and safety. The technology is a combination of software and hardware that provides operational control to devices to execute functions such as capturing and processing images and measuring various characteristics required for decision making. Major components of the system comprise lighting, lens, image sensors, vision processing, and communication devices. Machine vision systems assist in resolving complicated industrial tasks with reliability.
Gather more insights about the market drivers, restrains and growth of the Global Machine Vision Market
Industrial machine vision systems are usually more robust and demand high reliability, stability, and accuracy as compared to those used in institutional or educational applications. They cost lesser than systems used in military, aerospace, defense, and government applications. These factors are expected to lead to greater adaptability of the technology in the industrial sectors. In addition, the robotic vision systems used across the industries are also leading to the increasing adoption of the technology, thereby strengthening the overall market.
The technology has proven to be of key importance in the area of manufacturing and quality control owing to the increasing need for quality inspection and production. In addition, the growing automation in industrial segments is facilitating the growth of the market at a considerable rate. The technology has been witnessing extensive developments and innovative upgrades since its emergence. Several factors such as the growing inception of the technology and the increasing need for quality products are influencing the market growth. Furthermore, machine vision systems are gaining traction in medical and healthcare applications at a considerable pace. The analysis of medical images and robotic applications for carrying out various medical activities are the key roles of the technology in these sectors.
Machine Vision Market Report Highlights
The PC-based product segment accounted for the largest revenue share in 2022 and is estimated to dominate the market over the forecast period
The identification application segment is anticipated to exhibit the fastest growth rate over the forecast period followed by the positioning and guidance application segment
By end-use industry, the food and beverage industry is expected to register the highest CAGR over the forecast period
The industry is expected to witness substantial growth in the Asia Pacific region over the next decade. This growth is witnessed in the wake of ample opportunities offered due to the presence of large manufacturing hubs in prominent countries (across the food and packaging, automotive, pharmaceutical, industrial, and consumer electronic sectors) such as China and Japan
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Machine Vision Market Segmentation
Grand View Research has segmented the global machine vision market based on offering, product, application, end-use industry, and region:
Machine Vision Offering Outlook (Revenue, USD Million, 2017 - 2030)
Hardware
Software
Services
Machine Vision Product Outlook (Revenue, USD Million, 2017 - 2030)
PC Based
Smart Camera Based
Machine Vision Application Outlook (Revenue, USD Million, 2017 - 2030)
Quality Assurance and Inspection
Positioning and Guidance
Measurement
Identification
Machine Vision End-use Industry Outlook (Revenue, USD Million, 2017 - 2030)
Automotive
Pharmaceuticals & Chemicals
Electronics & Semiconductor
Pulp & Paper
Printing & Labelling
Food & Beverage (Packaging and Bottling)
Glass & Metal
Postal & Logistics
Others (Agriculture, Security & Surveillance, Rubber, Plastics, Solar Paneling, Machinery, and Others)
Machine Vision Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
Europe
Asia Pacific
South America
Middle East & Africa
Order a free sample PDF of the Machine Vision Market Intelligence Study, published by Grand View Research.
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