Global Machine Vision Market Research and Forecast 2018-2023

Posted by Orion Market Research on July 4th, 2018

Machine vision market is the technology in which a computer is given an ability to see real world object and extract information from it. The extracted information is processed further as per the demand of the user. Keeping track on the quality of product and regular inspection of product line is the key concern for manufacturing firm these days. Rise in automotive demand, regulation for quality inspection in industry, adoption of Industry 4.0 and growing demand for Artificial Intelligence (AI) is the major driving factors.

Less flexibility in working of machine is another restraining factor in this market. Slow adoption of this technology due to lack of awareness hinders the growth of this market. Beside these restraints, there is enormous opportunity for growth of this market which includes rapid industrialization in emerging economies, adoption of 3D machine vision technology in various sectors.

Browse full report at: Global Machine Vision Market Research

Geographically market is divided into North America, Asia Pacific, Europe and Rest of the world. Asia pacific region is expected to dominate the market, countries such as China and India is rapidly growing in electronics, healthcare, industrial and other sector where machine vision technology is widely implemented. The growth of APAC market will continue due to immense growth of automotive market in the region. North America and Europe has already implemented such technology in various sector therefore, expected to grow at stagnant growth rate. Rest of the world is also adopting such technology to make their industry more efficient.

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The presence of large number of companies in the segment makes it highly competitive. The key players incorporate continuous research and development to improve their product portfolio to gain competitive advantage. The rise in automation in various vertical of industry has propelled the competition among existing and emerging players. Major players in the segment are Keyence Corp., Cognex Corp., Sony Corp., Omron Microscan System, Inc., National Instruments, Sensory Inc., Pro photonix, Perceptron, Inc., Teledyne Dalsa, Inc., USS Vision Inc., Adept technology, Inc., Framos. These players capture the major segment of the market. The report includes detailed analysis of companies, market overview, analyst insights and market segmentation.