Machine Vision Market Projected to Show Considerable Growth by 2025

1. Machine Vision Market Size Worth $18.24 Billion By 2025 | CAGR: 7.7% | Grand View Research, Inc “The ability of machine vision systems to process massive amounts of information in a just a few seconds is a major factor driving the machine vision 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.” The global machine vision market size is expected to reach USD 18.24 billion by 2025 at a 7.7% CAGR during the forecast period, according to a new report by Grand View Research, Inc. The ability of machine vision systems to process massive amounts of information in a just a few 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, increasing adoption of robots across industrial sectors is leading to 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 demand for machine vision systems. 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, which provides operational control to devices to execute functions such as capturing and processing of images and measuring various characteristics required for decision making. Major components of the system include lighting, lens, image sensors, vision processing, and communication devices. Machine vision systems assist in resolving complicated industrial tasks with reliability. Follow Us:

2. 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 industrial sectors. In addition, robotic vision systems used across these industries are leading to 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 rising need for quality inspection and production. In addition, 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 inception of the technology and increasing need for quality products, are influencing market growth. Furthermore, machine vision systems are gaining traction in medical and healthcare applications in recent times. Analysis of medical images and robotic applications for carrying various medical activities are key roles of the technology in these sectors. The automotive industry held the largest share in the machine vision market in 2017. The inspection process, which includes error proofing and presence/absence checking, is responsible for adoption of machine vision in the automotive sector. The food and beverages industry is expected to exhibit the highest growth rate over the forecast years, owing to use of machine vision systems in packaging and bottling operations. Follow Us:

3. Asia Pacific accounted for the largest market share in 2017, which can be attributed to ample opportunities offered on account of large manufacturing practices carried out in the region. Countries such as China, Japan, South Korea, and India are considered to be potential markets for upcoming technologies, including machine vision. The region’s rapid industrial expansion has been significantly contributing to the prosperity and development of various innovations and adoption of different technologies. In addition, factors such as growing focus on developments, increased expenditure on vision-related research activities, and expanding manufacturing base in the region are expected to spur the market in Asia Pacific. The market is also anticipated to exhibit the fastest growth rate over the forecast period. The global industry is facing challenges due to lack of awareness among users about rapidly advancing machine vision technology. Moreover, the complexity of integrating machine vision systems are posing major difficulties for manufacturers. This is also restraining the growth of the market. To request a sample copy or view summary of this report, click the link below: www.grandviewresearch.com/industry-analysis/machine-vision-market Further key findings from the report suggest: • By way of product, the PC-based segment accounted for the largest market share in 2017 and is estimated to continue its dominance over the forecast period • On the basis of application, the identification segment is anticipated to exhibit the fastest growth rate over the forecast period, followed by the positioning and guidance segment • By end use, the food and beverages industry is expected to witness the highest CAGR over the forecast period • The Asia Pacific market is expected to witness substantial growth over the next decade. This growth is witnessed in the wake of ample opportunities offered due to presence of large manufacturing hubs across the food and packaging, automotive, pharmaceutical, industrial, and consumer electronic sectors • Prominent companies in the industry include Allied Vision Technologies GmbH (Germany), Basler AG (Germany), Cognex Corporation (U.S.), Keyence Corporation (Japan), National Instruments (U.S.), Omron Corporation (Japan), Machine Vision Technology (U.K.), and Microscan Systems (U.S.). Follow Us:

4. View more reports of this category by Grand View Research at www.grandviewresearch.com/industry/emerging-and-next-generation-technologies 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, 2014 - 2025) • Hardware • Software Machine Vision Product Outlook (Revenue, USD Million, 2014 - 2025) • PC-based • Smart Camera-based Machine Vision Application Outlook (Revenue, USD Million, 2014 - 2025) • Quality Assurance and Inspection • Positioning and Guidance • Measurement • Identification Machine Vision End-Use Industry Outlook (Revenue, USD Million, 2014 - 2025) • Automotive • Pharmaceuticals & Chemicals • Electronics & Semiconductor • Pulp & Paper • Printing & Labeling • Food & Beverage (Packaging and Bottling) Follow Us:

5. • Glass & Metal • Postal & Logistics • Others (Agriculture, Security & Surveillance, Rubber, Plastics, Solar Paneling, Machinery, and Others) Machine Vision Regional Outlook (Revenue, USD Million, 2014 - 2025) • North America oU.S. oCanada oMexico • Europe oU.K. oGermany oFrance oItaly oSpain • Asia Pacific oChina oJapan oIndia oSouth Korea oSingapore • South America oBrazil • Middle East & Africa Follow Us:

6. Browse Press Release of this Report: www.grandviewresearch.com/press-release/global-machine-vision-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. Contact: Sherry James Corporate Sales Specialist, USA Grand View Research, Inc Phone: 1-415- 349-0058 Toll Free: 1-888- 202-9519 Email:sales@grandviewresearch.com For More Information:http://www.grandviewresearch.com Follow Us: