Machine Vision Market
Machine Vision Market Size, Share & Trends Analysis Report by Type (One Dimension (1D), Two Dimension (2D), Three Dimension (3D), and Area or Line Scan), by Application (Identification, Guidance and Positioning, Measurement, and Quality Assurance and Inspection), by Component (Camera, Lenses, Lighting Source, Processor, and Software) and by Industry Vertical (Automotive, Machinery, Food & Packaging, Non-Industrial, Healthcare, and Security & Surveillance) Forecast Period (2024-2031)
Machine vision market is anticipated to grow at a CAGR of 7.3% during the forecast period (2024-2031). Machine vision systems play a pivotal role in various industries, including automotive, electronics, pharmaceuticals, and food processing by enabling efficient monitoring, quality control, and process optimization. These systems leverage advancements in AI, deep learning, and sensor technologies to ensure high-quality standards and cost-effectiveness. Additionally, the adoption of machine vision systems is driven by regulatory compliance, while emerging economies are fueling the global market expansion. Overall, machine vision technology serves as a crucial component of modern manufacturing strategies worldwide.
Market Dynamics
Government Initiatives and Industry 4.0
The government is promoting Industry 4.0 technologies to establish the country as a global hub for future industries, increasing GDP and manufacturing expansion through machine vision systems. The adoption of digital technologies in the wider Middle East and North Africa (MENA) region is significant, with 80.0% of companies embracing these innovations. Furthermore, there is a projected increase in investment in digital transformation, with estimates reaching $298.2 billion by 2032, compared to $38.4 billion in 2022. The Emirati government aims to promote Industry 4.0 technologies and establish the country as a global hub for future industries, to increase the industrial sector's contribution to GDP from $36.0 billion to $82.0 billion by 2031. Additionally, Saudi Arabia plans to expand its number of factories from approximately 10,000 to 36,000 by 2035, including 4,000 fully automated facilities.
Technological Advancements in Image Sensors
Image sensors have become increasingly popular in precision-demanding applications such as robotics and industrial automation owing to the ability to provide high visual quality, minimal noise, and efficient quantum usage that propels market growth. The advancements have made image sensors an ideal choice for industries that require accurate and reliable imaging capabilities. For instance, in July 2024, OmniVision launched three new image sensors for machine vision applications, including two CMOS global shutter (GS) sensors and the first large-format GS sensor, the OG09A10 CMOS GS sensor. The GS sensors are designed for industrial automation, robotics, logistics barcode scanners, and intelligent transportation systems. It offers exceptional visual quality, low readout noise, and high quantum efficiency, making it ideal for high-speed moving objects.
Market Segmentation
- Based on type, the market is segmented into one-dimension (1D), two-dimension (2D), three-dimension (3D), and area or line scan.
- Based on the application, the market is segmented into identification, guidance and positioning, measurement, and quality assurance and inspection.
- Based on the components, the market is segmented into cameras, lenses, lighting sources, processors, and software.
- Based on industry vertical, the market is segmented into automotive, machinery, food & packaging, non-industrial, healthcare, and security & surveillance.
Camera Sub-Segment to Hold a Considerable Market Share
The adoption of machine vision systems is driven by increasing regulatory requirements across industries for product safety and quality. The camera plays a significant role in creating clear machine vision for machines to work automatically. Hence, a camera is a major component in the machine vision market. Thus, the launch of advanced cameras for machines has made a significant contribution to the growth of this market segment. For instance, in January 2024, Teledyne FLIR launched the Dragonfly S USB3 machine vision camera series, designed for factory automation and inspections. The camera features 5 MPixel, 2592 x 1944 resolution, 2.2 µm pixel size, rolling shutter, onsemi AR0521 CMOS sensor, onboard image buffering, CS-mount lens mount, continuous, single, and multi-frame acquisition modes, and USB 3.0 interface.
Regional Outlook
The global machine vision market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Growing Emphasis on Quality Assurance and Inspection in the North American Region
The increasing focus on quality assurance and inspection in industries in the US such as automotive, electronics, and pharmaceuticals is boosting the use of machine vision systems for defect detection and compliance. For instance, In April 2024, Cognex introduced the In-Sight L38 3D Vision System, a revolutionary combination of AI, 2D, and 3D vision technologies. The system simplifies inspection and measurement applications by creating unique projection images, detecting variable features, and providing reliable 3D measurements. It additionally uses example-based training for application development.
Machine Vision Market Growth by Region 2024-2031
Asia-Pacific Holds Major Market Share
India's automotive industry is enhancing efficiency, quality assurance, and customization through the implementation of machine vision systems to meet consumer demands and regulatory requirements that propel market growth. According to the India Brand Equity Foundation (IBEF), in July 2024, the Indian passenger car market, valued at $32.70 billion in 2021, is expected to reach $54.84 billion by 2027, a 9% increase from 2022-27. The global electric vehicle market is projected to grow by 5 times to $1,318 billion by 2028. India produced 23,58,041 units in FY24, and the EV market is expected to reach $7.09 billion by 2025, with a potential $206 billion opportunity by 2030.?
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the machine vision market include Basler AG, Cognex Corp., KEYENCE CORP., OMRON Corp., and Sony Group Co. among others. The market players are focusing on capitalizing on growth by adopting strategies such as collaboration, partnerships, and market expansion among others. For instance, in March 2024, STEMMER IMAGING AG acquired Phase 1 Technology, a New York-based machine vision technology supplier, expanding its North American presence, including locations in Mexico and Latin America.
Further, in May 2024, ITIS Holding acquired VITRONIC Group, it designs and sells automation solutions in industries such as traffic management, logistics, automotive, medical devices, and solar cells. The solutions automate tasks in warehousing, distribution, medical device inspection, and traffic management.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global machine vision market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Industry Trends
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Basler AG
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Cognex Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. KEYENCE CORP.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Machine Vision Market by Type
4.1.1. One Dimension (1D)
4.1.2. Two Dimension (2D)
4.1.3. Three Dimension (3D)
4.1.4. Area or Line Scan
4.2. Global Machine Vision Market by Application
4.2.1. Identification
4.2.2. Guidance and Positioning
4.2.3. Measurement
4.2.4. Quality Assurance and Inspection
4.3. Global Machine Vision Market by Component
4.3.1. On-Premises
4.3.2. Cloud
4.4. Global Machine Vision Market by Authentication Type
4.4.1. Camera
4.4.2. Lenses
4.4.3. Lighting Source
4.4.4. Processor
4.4.5. Software
4.5. Global Machine Vision Market by Industry Vertical
4.5.1. Automotive
4.5.2. Machinery
4.5.3. Food & Packaging
4.5.4. Non-Industrial
4.5.5. Healthcare
4.5.6. Security & Surveillance
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East and Africa
6. Company Profiles
6.1. Allied Vision Technologies GmbH
6.2. AMETEK, Inc.
6.3. Baldwin Technology Company Inc.
6.4. Baumer Holding AG
6.5. Canon Inc.
6.6. Datalogic SpA
6.7. FRAMOS GmbH
6.8. Intel Corp.
6.9. ISRA VISION
6.10. MVTec Software GmbH
6.11. National Instruments Corp.
6.12. OMRON Corp.
6.13. SICK AG
6.14. Sony Group Co.
6.15. STEMMER IMAGING
6.16. Teledyne FLIR LLC
6.17. Teledyne Technologies Inc.
6.18. Texas Instruments Inc.
6.19. U.S. Vision, Inc.
1. Global Machine Vision Market Research and Analysis by Type, 2023-2031 ($ Million)
2. Global One Dimension (1D) Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
3. Global Two-dimension (2D) Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
4. Global Three Dimension (3D) Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
5. Global Area or Line Scan Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
6. Global Machine Vision Market Research and Analysis by Application, 2023-2031 ($ Million)
7. Global Machine Vision for Identification Market Research and Analysis by Region, 2023-2031 ($ Million)
8. Global Machine Vision for Guidance and Positioning Market Research and Analysis by Region, 2023-2031 ($ Million)
9. Global Machine Vision for Measurement Market Research and Analysis by Region, 2023-2031 ($ Million)
10. Global Machine Vision for Quality Assurance and Inspection Market Research and Analysis by Region, 2023-2031 ($ Million)
11. Global Machine Vision Market Research and Analysis by Component, 2023-2031 ($ Million)
12. Global Camera for Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
13. Global Lenses for Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
14. Global Lighting Source for Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
15. Global Processor for Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
16. Global Software for Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
17. Global Machine Vision Market Research and Analysis by Industry Vertical, 2023-2031 ($ Million)
18. Global Machine Vision in Automotive Market Research and Analysis by Region, 2023-2031 ($ Million)
19. Global Machine Vision in Machinery Market Research and Analysis by Region, 2023-2031 ($ Million)
20. Global Machine Vision in Food & Packaging Market Research and Analysis by Region, 2023-2031 ($ Million)
21. Global Machine Vision in Non-Industrial Market Research and Analysis by Region, 2023-2031 ($ Million)
22. Global Machine Vision in Healthcare Market Research and Analysis by Region, 2023-2031 ($ Million)
23. Global Machine Vision in Security & Surveillance Market Research and Analysis by Region, 2023-2031 ($ Million)
24. Global Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
25. North American Machine Vision Market Research and Analysis by Country, 2023-2031 ($ Million)
26. North American Machine Vision Market Research and Analysis by Type, 2023-2031 ($ Million)
27. North American Machine Vision Market Research and Analysis by Application, 2023-2031 ($ Million)
28. North American Machine Vision Market Research and Analysis by Component, 2023-2031 ($ Million)
29. North American Machine Vision Market Research and Analysis by Industry Vertical, 2023-2031 ($ Million)
30. European Machine Vision Market Research and Analysis by Country, 2023-2031 ($ Million)
31. European Machine Vision Market Research and Analysis by Type, 2023-2031 ($ Million)
32. European Machine Vision Market Research and Analysis by Application, 2023-2031 ($ Million)
33. European Machine Vision Market Research and Analysis by Component, 2023-2031 ($ Million)
34. European Machine Vision Market Research and Analysis by Industry Vertical, 2023-2031 ($ Million)
35. Asia-Pacific Machine Vision Market Research and Analysis by Country, 2023-2031 ($ Million)
36. Asia-Pacific Machine Vision Market Research and Analysis by Type, 2023-2031 ($ Million)
37. Asia-Pacific Machine Vision Market Research and Analysis by Application, 2023-2031 ($ Million)
38. Asia-Pacific Machine Vision Market Research and Analysis by Component, 2023-2031 ($ Million)
39. Asia-Pacific Machine Vision Market Research and Analysis by Industry Vertical, 2023-2031 ($ Million)
40. Rest of the World Machine Vision Market Research and Analysis by Region, 2023-2031 ($ Million)
41. Rest of the World Machine Vision Market Research and Analysis by Type, 2023-2031 ($ Million)
42. Rest of the World Machine Vision Market Research and Analysis by Application, 2023-2031 ($ Million)
43. Rest of the World Machine Vision Market Research and Analysis by Component, 2023-2031 ($ Million)
44. Rest of the World Machine Vision Market Research and Analysis by Industry Vertical, 2023-2031 ($ Million)
1. Global Machine Vision Market Share by Type, 2023 Vs 2031 (%)
2. Global One Dimension (1D) Machine Vision Market Share by Region, 2023 Vs 2031 (%)
3. Global Two Dimension (2D) Machine Vision Market Share by Region, 2023 Vs 2031 (%)
4. Global Three Dimension (3D) Machine Vision Market Share by Region, 2023 Vs 2031 (%)
5. Global Area or Line Scan Machine Vision Market Share by Region, 2023 Vs 2031 (%)
6. Global Machine Vision Market Share by Application, 2023 Vs 2031 (%)
7. Global Machine Vision for Identification Market Share by Region, 2023 Vs 2031 (%)
8. Global Machine Vision for Guidance and Positioning Market Share by Region, 2023 Vs 2031 (%)
9. Global Machine Vision for Measurement Market Share by Region, 2023 Vs 2031 (%)
10. Global Machine Vision for Quality Assurance and Inspection Market Share by Region, 2023 Vs 2031 (%)
11. Global Machine Vision Market Share by Component, 2023 Vs 2031 (%)
12. Global Camera for Machine Vision Market Share by Region, 2023 Vs 2031 (%)
13. Global Lenses for Machine Vision Market Share by Region, 2023 Vs 2031 (%)
14. Global Lighting Source for Machine Vision Market Share by Region, 2023 Vs 2031 (%)
15. Global Processor for Machine Vision Market Share by Region, 2023 Vs 2031 (%)
16. Global Software for Machine Vision Market Share by Region, 2023 Vs 2031 (%)
17. Global Machine Vision Market Share by Industry Vertical, 2023 Vs 2031 (%)
18. Global Machine Vision in Automotive Market Share by Region, 2023 Vs 2031 (%)
19. Global Machine Vision in Machinery Market Share by Region, 2023 Vs 2031 (%)
20. Global Machine Vision in Food & Packaging Market Share by Region, 2023 Vs 2031 (%)
21. Global Machine Vision in Non-Industrial Market Share by Region, 2023 Vs 2031 (%)
22. Global Machine Vision in Healthcare Market Share by Region, 2023 Vs 2031 (%)
23. Global Machine Vision in Security & Surveillance Market Share by Region, 2023 Vs 2031 (%)
24. Global Machine Vision Market Share by Region, 2023 Vs 2031 (%)
25. US Machine Vision Market Size, 2023-2031 ($ Million)
26. Canada Machine Vision Market Size, 2023-2031 ($ Million)
27. UK Machine Vision Market Size, 2023-2031 ($ Million)
28. France Machine Vision Market Size, 2023-2031 ($ Million)
29. Germany Machine Vision Market Size, 2023-2031 ($ Million)
30. Italy Machine Vision Market Size, 2023-2031 ($ Million)
31. Spain Machine Vision Market Size, 2023-2031 ($ Million)
32. Rest of Europe Machine Vision Market Size, 2023-2031 ($ Million)
33. India Machine Vision Market Size, 2023-2031 ($ Million)
34. China Machine Vision Market Size, 2023-2031 ($ Million)
35. Japan Machine Vision Market Size, 2023-2031 ($ Million)
36. South Korea Machine Vision Market Size, 2023-2031 ($ Million)
37. Rest of Asia-Pacific Machine Vision Market Size, 2023-2031 ($ Million)
38. Latin America Machine Vision Market Size, 2023-2031 ($ Million)
39. Middle East and Africa Machine Vision Market Size, 2023-2031 ($ Million)
