Machine Vision Market Size - By Technology (PC-Based, Smart Camera-Based, Embedded), By Application (Inspection, Gauging & Measurement, Guidance & Navigation, Identification, Verification, Sorting & Packaging, Robotics), Component, End-Use & Forecast, 2023 – 2032
Published Date: April - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Media and IT | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMachine Vision Market Size
In the technology world, there is a gigantic market expanding fast for "machine vision." Companies are using it more and more to intelligent their factories. It is all about cameras and computers providing information and process control. Think of a factory so intelligent that it can observe everything that is going on. Cameras and sensors gather data, and computers interpret it to make decisions. Machine vision is akin to the brain and eyes of these intelligent factories. As we head towards Industry 4.0, with everything interconnected, this technology becomes more vital by the day. Organizations such as the Industrial Internet Consortium (IIC) are making it all possible. They're establishing standards and guidelines regarding how machine vision can be employed in manufacturing. So, if you wish to look at the future of manufacturing, pay attention to machine vision. It will be ubiquitous!
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Machine vision technologies provide innovative capabilities for consistent and accurate quality inspection, eliminating defects and building product reliability across industries. Increasing automation in the manufacturing and industrial sectors has generated the need for machine vision systems to provide high-quality and effective quality control, inspection, and production monitoring. This, as a result, will etch a healthy growth path for the machine vision market.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Machine Vision Market Size in 2022 | USD 3.9 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 18% |
| 2032 Value Projection | USD 20.6 Billion |
| Historical Data for | 2018 - 2022 |
| No. of Pages | 283 |
| Tables, Charts & Figures | 342 |
| Segments covered | Component, Technology, Application, End Use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Machine vision technologies provide sophisticated capabilities for accurate and repeatable quality inspection, minimizing defects and improving product reliability in a wide range of industries. Furthermore, the combination of AI and deep learning algorithms with machine vision systems has enhanced image recognition, object detection, and pattern analysis, broadening the applications and accuracy of machine vision. For example, in 2022, Google's DeepMind created a new AI system, Pathway, which can understand how to operate a robotic arm to carry out intricate tasks by observing a human do the tasks only once.
But challenges like high implementation and initial costs and the need for skilled manpower to run and maintain advanced machine vision technologies successfully might be difficult for the industry. In addition, regulatory difficulties and standards adherence in certain industries might also influence market growth.
COVID-19 Impact
The COVID-19 pandemic has been a major driver of the machine vision market. In their efforts to incorporate social distancing protocols, several manufacturing organizations have been forced to change their way of working to reduce physical contact between employees. Consequently, there has been a high demand for automation and machine vision technology to safeguard workers.
Moreover, the pandemic has also given a boost to the use of machine vision in the medical sector as it provides a contactless means to track the patients and measure the virus spread. In general, the COVID-19 pandemic has underscored the significance of machine vision technology for the purposes of safety and efficiency in different sectors.
Machine Vision Market Trends
Advancements in sensors and hardware elements like high-definition cameras and innovative illumination methods have enhanced the functionality and precision of machine vision systems. For instance, the 2022-launched Sony IMX990 sensor supports detection of shortwave infrared (SWIR) light, making it possible for machine vision systems to capture in low light. Apart from this, the growing scope of application of machine vision systems outside of conventional industrial applications, such as agriculture, security and surveillance, healthcare, transportation, and entertainment, will support the market dynamics until 2032.
Machine Vision Market Analysis
Learn more about the key segments shaping this market
The machine vision market in hardware segment will show a 17% CAGR during the forecast period because of ongoing advances in sensor technology. Suppliers are creating low-noise, high-resolution sensors with better sensitivity that allow machine vision systems to create clearer, more accurate images and improve the performance of overall systems. Also, as technology progresses, machine vision hardware becomes more compact, light, and energy-efficient, so it becomes less difficult to implement in various devices and applications.
Learn more about the key segments shaping this market
The machine vision market has been in overdrive, and embedded machine vision was the biggest in 2022, raking in an astonishing $980 million. Why is that? Plain and simplecompanies are thirsty for methods to streamline and automate their businesses. Use cars as an example. Embedded machine vision is a production-line game-changer. It's like having a super-accurate inspector working 24/7, inspecting every component and ensuring everything's ship-shape. In medicine, machine vision is leaving its mark as well. It assists in monitoring patients and identifies any suspicious material in medical scans. And since the COVID-19 pandemic, machine vision has become even more precious. It's a touch-free method to safeguard workers and monitor the virus spread.
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North America machine vision market held 30% revenue share in 2022 due to the requirement for accurate and efficient medical image analysis, diagnosis, and monitoring. For example, in U.S., the government is heavily investing in machine vision technology for early disease detection and treatment of diseases like cancer. Machine vision systems in Canada are employed for remote monitoring of patients as well as in detecting irregularities in X-rays and CT scans. The pandemic caused by the COVID-19 virus has also spurred on-demand adoption of machine vision technology across the country due to contactless medical imaging and diagnosis assuming paramount importance.
Machine Vision Market Share
Major companies operating in the machine vision market include
- Allied Vision Technologies GmbH
- Basler AG
- Baumer Group
- Cognex Corporation
- FLIR Systems, Inc.
- IDS Imaging Development Systems GmbH
- Intel Corporation
- ISRA VISION AG
- Keyence Corporation
- Matrox Electronic Systems Ltd.
- National Instruments Corporation
- Omron Corporation
- Sick AG
- Sony Corporation
- Teledyne Technologies Incorporated
Machine Vision Industry News
- In September 2022, Cognex acquired ViDi systems. This acquisition will help Cognex gain a leading position in the market for 3D imaging applications.
The machine vision market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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Market, By Component
- Hardware
- Cameras
- Frame grabbers
- Optics
- Lighting equipment
- Processors & FPGAs
- Others
- Software
- Image processing software
- Deep learning & AI software
- Application-specific software
- Service
- Installation & integration
- Maintenance & support
- Training & consulting
Market, By Technology
- PC-based machine vision
- Smart camera-based machine vision
- Embedded machine vision
Market, By Application
- Inspection
- Gauging & measurement
- Guidance & navigation
- Identification
- Verification
- Sorting & packaging
- Robotics
- Others
Market, By End Use
- Manufacturing
- Automotive
- Electronics & semiconductor
- Healthcare
- Transportation & logistics
- Retail & consumer electronics
- Banking & finance
- Others
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia
- Singapore
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- GCC
- South Africa
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