Global
Industrial Vision Market Synopsis
The data experts at
Market Research Future Reports (MRFR) have conducted a thorough analysis of the
global Industrial
Vision Market. As per the
analysis, the market is projected to hold a value of USD 11 billion, expanding
at a CAGR of 14% during the forecast period from 2017 to 2023. The ability to
be able to perform various preprocessing and segmentation algorithms is
anticipated to be a pivotal factor driving the global industrial vision market
2020.
The burgeoning
technical advancement and their implementation in various sectors are likely to
augment the market. Also, the growing manufacturing automotive industry is a
pivotal element actuating the market. Furthermore, the increasing demand from
various end-user industries for vision machine technology is likely to influence
the market. Also, the continuous mergers and acquisition is an essential factor
provoking the expansion.
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However, the spread
of COVID-19 has led to a pause in the daily operational activities of the
global industrial vision market. The data experts at MRFR have thoroughly
analyzed the market and concluded the factors which are responsible for affecting
the market positively and negatively. We will provide an impact analysis report
on COVID-19.
Market
Segmentation
The industrial
vision market can be distinguished on the grounds of component, product,
vertical, technology, and region.
On the basis of
component, the worldwide industrial vision market can be distinguished into
hardware and software.
On the grounds of
product, the worldwide industrial vision market can be distinguished into PC
based and embedded.
On the grounds of
vertical, the worldwide industrial vision market can be distinguished into
automotive, consumer electronics, pharmaceutical, healthcare, metals, food
& packaging, and others.
On the grounds of
technology, the worldwide industrial vision market can be distinguished into
laser, imaging, and augmented.
On the grounds of
the region, the worldwide industrial vision market can be distinguished into
Asia Pacific, North America, Europe and Rest of the World (RoW).
Geographical
Analysis
The worldwide
market is estimated to expand significantly during the review period. Regions
such as North America, Asia Pacific, Europe and Rest of the World (RoW) have
been evaluated. As per the evaluation, North America is anticipated to reign
the worldwide market. The presence of well-established organizations in the
region is likely to augment the market further. Besides, the increasing demand
from various end-user sectors for vision machine technology is a pivotal factor
of market growth. The APAC region is predicted to grow exponentially during the
review period. The existence of progressing countries like India, Japan, and
China are anticipated to make crucial participation during the review period.
Besides, the region is an important supplier of sensors, hardware, and cameras.
It has been estimated that the demand for machine vision is estimated to play
an important role to augment the market in the forthcoming period in various
sectors. Sectors such as security, food and beverages, surveillance, and
semiconductor are estimated to play a crucial role in actuating the market
size. Europe is estimated to be a lucrative market owing to the existence of
several manufacturers in the region. The market is Europe is blooming because
of the increasing demand for quality inspection and the prevailing trend of
product miniaturization in the region. However, the market dynamics are
estimated to change due to the spread of COVID-19.
Key Players
The renowned vendors of the worldwide
industrial vision market are Omron Corporation (Japan), Teledyne Dalsa (U.S),
Cognex Corporation (U.S), Basler AG (Germany), Pixelink (U.S), JAI (U.S), Sick
IVP (Germany), Adept Technologies Inc. (U.S), LMI Technologies (U.S), MVTech
Software GmBH (Germany), and a few more.
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