The demand for automation and quality control is expanding the machine vision market revenue.
According to the most recent analysis by Emergent Research, the size of the worldwide machine vision market is anticipated to reach USD 20.3 billion in 2030 and see a revenue CAGR of 7.1 % over the forecast period. Growing demand for automation and quality control is propelling the worldwide machine vision market’s revenue expansion. The automation benefits of machine vision are many. Widely acknowledged as a crucial element of production line automation, machine vision inspection. Inline inspection reduces manufacturing costs, boosts client satisfaction, and gets rid of waste. It is crucial for preserving batch and product integrity and preventing batch mixing.
The market is projected to be driven by the rising need for quality inspection and automation in various industrial verticals. The demand for vision-guided robotic systems in the automotive, food and beverage, pharmaceutical and chemical, and packaging sectors is also anticipated to drive market expansion. The use of the technology is also expected to increase during the forecast period due to the growth in demand for application-oriented machine vision systems.
Systems for vision-guided robotics also frequently employ machine vision technologies. The efficiency of manufacturing has substantially risen thanks to the development of industrial robots. While people still have to adjust jigs or settings by plan, calibrate the machine, and carry out tests and modifications before production can begin, vision-guided robots are becoming more popular as a way to do away with this time-consuming chore.
The risk of cyberattacks on industrial machine robots and gadgets is predicted to increase, and this is a significant concern that will likely impede market revenue development. Numerous challenges arise when using robots with machine vision capabilities in vital infrastructure. The main worries are security, safety, accuracy, and trust. The level of defense these robots have against various cyberattacks is largely correlated with how secure they are. The illicit use of these robots through hacking, which can result in serious injury or even death, is one of the many security difficulties, challenges, vulnerabilities, and threats that continually surface.
The use of machine vision to enhance the capabilities of augmented reality (AR) and virtual reality (VR) is a current trend in the market. Beyond its potential use in video games and entertainment, AR and VR are being used for real-time instructions, staff training, and much more. Machine vision is advancing the possibilities of AR and VR by pursuing more precise virtual restorations of reality.
Some Significant Report Highlights
- A brand-new computer vision solution for mobile phishing was made available by PIXM on May 25, 2022. As soon as a user clicks on a fraudulent link, PIXM mobile employs computer vision technology to detect and halt phishing assaults on mobile devices.
- Due to the availability of brand-new and cutting-edge hardware on the market, the hardware category is anticipated to contribute a greater revenue share during the projection period. The most obvious part of a machine vision system is its hardware. External hardware and integrated hardware are the two types of hardware architecture. When choosing hardware, it’s vital to take the sort of examination and its speed into account. Hardware that is strong and versatile is currently available for machine vision edge computing. Edge computing can help vision systems speed up response times, manage multiple interfaces, and carry out complex processing.
- Due to their cost effectiveness and capacity to handle a high number of product variants as components, which are changed without halting production by simply altering the robot program and inspection software, robotics cells are anticipated to experience rapid expansion throughout the projection period. Additionally, the robot vision cell provides the greatest robotics and vision learning environment.
- Due to the industry’s increased emphasis on automation, the automotive category is anticipated to rise quickly during the projection period. Machine vision systems can read barcodes, 2D data matrix codes, and characters inscribed on parts, labels, and packaging in the automotive industry. With the aid of this cutting-edge technology, components and patterns may be found as well as data at the unit level can be provided for error-proofing, process control, and the monitoring of quality-control procedures.
- • Among all regional markets over the projection period, the North American machine vision market is anticipated to represent the greatest revenue share. This is explained by the region’s governments’ rising R&D expenditures and technical breakthroughs. The United States is a world leader in R&D when it comes to technological advancements and efficient engineering processes. Another aspect that is anticipated to contribute to the market’s revenue growth is the dominance of the semiconductor sector in the area. To be integrated into automation applications like driverless vehicles, AI-driven bin picking, better inspection technologies, and others, machine vision technologies are getting smaller and smarter. The market’s revenue growth in the region is probably influenced by all of these factors.
- Some major companies in the global market report include Cognex Corporation, Basler AG, Omron Corporation, Keyence Corporation, Teledyne Technologies Incorporated, TKH Group, National Instruments Corp., Sony Corporation, Texas Instruments Incorporated, and Intel Corporation.
The machine vision market has been divided into segments by geography, component, deployment, and end-use by Emergen Research:
- Component Outlook (Revenue, USD Million, 2022–2030)
- Deployment Outlook (Revenue, USD Million, 2022–2030)
- Robotics Cell
- End-Use Outlook (Revenue, USD Million, 2022–2030)
- Electronics & Semiconductor
- Consumer Electronics
- Wood & Paper
- Food & Packaging
- Rubber & Plastics
- Solar Panel Manufacturing
- Regional Outlook (Revenue, USD Million, 2022–2030)
- North America
- the U.S.
- the UK
- Rest of Europe
- the Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- North America