The machine vision systems market was valued at USD 11.14 billion in 2020 and is expected to reach USD 23.50 billion by 2026, at a CAGR of 13.32% over the forecast period 2021 - 2026. Ever since their inception, Machine Vision systems have evolved immensely from stand-alone proprietary box modules to modular vision components and 3D displacement sensors. These systems are used for performing non-contact optical sensing for analyzing and interpret parts of real-world models.
- Manufacturing firms across the world are realizing the benefits of machine vision systems, particularly in areas where redundant tasks, like inspection, must be performed with precision. They are playing a crucial role in high-speed production lines and hazardous environments. Some of the major benefits offered by these systems include increased productivity, reduced machine downtime, and tighter process control.
- Industry 4.0, the newest industrial revolution, has fueled the development of new technologies like robots playing a crucial role in industrial automation, with many core operations in industries being managed by robots. Vision-guided robots (machine vision) employing vision systems and image processing technologies have been gathering attention to perform tasks efficiently and to achieve high productivity. For instance, an automated robot device in an automotive assembly line utilizes Cognex Machine vision software to align and assemble engine block components.
- 3D machine vision is a rising trend that delivers precise and real-time information to improve performance in applications. It detects objects irrespective of position. 3D vision allows robots to know what is in front of them and react appropriately. Companies such as Robotic Vision technologies, 2017, launched its collaborative 3D vision guidance software, cVF. cVF is particularly applicable to collaborative assembly, handling, and packaging. The company expects that this software will be mainly adopted in the electronics, automotive, metal and machining sectors.
For sample report please visit:
https://www.statzyreports.com/report/sr496614/machine-vision-systems-market
Key Market Trends
Automotive Sector is Expected to Hold a Significant Share
- The primary goal of machine vision systems in the automotive sector is to improve the productivity and quality of the products. Major applications of these systems in this sector are quality inspections and machine guidance. In quality control inspections, these systems determine whether the parts or subassemblies are defective or non-defective. Based on the feedback, it directs the motion control equipment to accept or reject that particular component. On the other hand, in machine guidance systems, machine vision improves the speed and accuracy of assembly robots and automated material handling equipment, which plays a critical role in the engine chassis marriage operations.
- The automotive sector is on the edge of a revolution, to move towards autonomous vehicles to meet the demands of an increasingly connected and fast-paced world. Majority of the automotive OEM’s are investing heavily in developing autonomous vehicles. Machine vision cameras and associated technology will play a critical role in the safety of autonomous cars, by assisting the car in identifying and recognizing potential hazards, as well as how to avoid them.
Asia-Pacific is Expected to Experience Rapid Growth
- Asia-Pacific is one of the significant revenue-generating regions in the machine vision market. Asia-Pacific countries such as China and South Korea, among others, have some of the most extensive manufacturing facilities wherein automation has been increasingly implemented.
- The region is embracing robot adoption at a rapid rate, which is expected to impact the machine vision market in the region. Automation in the region is also expected to be augmented by favorable government initiatives. For instance, the Chinese government’s programs, such as the Made in China 2025 plan, are promoting the use of R&D in factory automation and technologies and its investments.
- Moreover, the labor cost in China is increasing year on year. Therefore, companies in the country are focusing on using automation systems to reduce production costs. These factors are also driving the growth of the machine vision market in the region. According to the China Machine Vision Union, sales in the Chinese machine vision market reached CNY 8.39 billion in 2018, growing 21.6%, as compared to 2017.
Competitive Landscape
The machine vision systems market is competitive and consists of several major players. Many companies are increasing their market presence by introducing new products, expanding their operations, or by entering into strategic mergers and acquisitions.
- November 2018 - Inspekto launched an autonomous machine vision system, S70. The S70 system can be installed quickly (30 to 60 minutes) than a traditional machine vision solution and at a reduced cost. Its high affordability and ease of deployment enable manufacturing plants to install it at any point on a production line and move it from one line to another, within minutes.
- August 2018 - Atlas Copco acquired German QUISS Qualitäts-Inspektionssysteme und Service AG, a provider of machine vision solutions for quality inspection and robot guidance mainly used in the automotive sector. This acquisition provides the company with increased competence in vision systems for robot guidance and quality inspections and to provide more customer value in the world of automation.
For sample report please visit:
https://www.statzyreports.com/report/sr496614/machine-vision-systems-market
Contact Us:
Statzy Market Research
(IN) - +918484035727
(US) - +1415-871-0483
Email : info@statzyreports.com
Email : sales@statzyreports.com