The machine vision market size is estimated to grow at an estimated CAGR of 9.1% from 2015 to 2020 to reach $12.49 billion by 2020, driven by increasing demand for application-specific machine vision systems.
PC-Based systems are to gain maximum traction during the forecast period, according to the latest research by ReportsnReports.com.
The Worldwide machine vision market is driven by the factors such as increasing need for quality inspection and automation, Growing demand for vision-guided robotics systems, rise in labor costs would create investment opportunities for vision-guided industrial robots and other automation technologies in china, and growing number of regulatory mandates for food, pharma, and automotive industry.
PC-Based machine vision systems are estimated to contribute the largest market share during the forecast period. Smart camera-based systems market is expected to gain traction and grow at the highest CAGR in the next five years. These are the most sustainable product segment for the machine vision market. The major reasons are the low cost and ease of use. Compared to PC-based systems, the smart camera-based machine vision systems can accomplish the task of decoding algorithms, traceability applications such as ID code reading, text verification, mark quality assessment, and label inspection now be accomplished more economically. They are generally easier to configure, validate, and maintain. Being configurable rather than programmable, the smart camera-based machine vision systems make it easier for the manufacturers to implement changes in regulations and standards in future.
Due to rise in the demand for machine vision in the non-industrial verticals such as healthcare and security & surveillance, the machine vision market finds huge opportunity to proliferate in the next five years.
The various key machine vision vendors profiled in the report such as Cognex Corporation (U.S.), Keyence Corporation (Japan), National Instruments (U.S.), Basler AG (Germany), Omron Corporation (Japan), Adept Technology (U.S.), Allied Vision Technologies GmbH (Germany), IDS Imaging Development Systems GmbH (Germany), Machine Vision Technology (U.K.), Microscan Systems (U.S.), Perceptron, Inc. (U.S.), Sony Corporation, Teledyne Technologies, Inc. and Vitronic GmbH (Germany). Copies of the Machine Vision Market report are available by Component (Hardware and Software), Product (PC-Based Systems and Smart Camera-Based Systems), Application, Vertical (Automotive, Electronics and Semiconductor, Healthcare, ITS) and Geography – Global Forecast to 2020.
This report segments the machine vision market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across the different verticals and regions. The report also helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities. This report will help stakeholders to better understand the competitor and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers and acquisitions.
Continuing with the related market, another research report on 3D Machine Vision Market Global Forecast to 2020 says, the market is expected to grow at a CAGR of 10.53% during the forecast period between 2015 and 2020.The major reason for the growth in 3D machine vision technology is due to its growing applications in the automotive and electronics industries. This report includes the market statistics pertaining to component, product, application, vertical, and geography, along with their respective revenue. Keyence Corporation, Cognex Corporation, ISRA Vision AG, Sick AG,Stemmer Imaging, National Instruments, Hermary Opto Electronics Inc., MVTec Software GmbH, Tordivel AS, Canon U.S.A. Inc. and Texas Instruments have been profiled in this 150 pages research available at http://www.reportsnreports.com/