Machine Vision Market - Overview
The path-breaking imaging
technologies are estimated to spur the machine vision market in 2020. The AI
and analytics reports are made by Market Research Future, which includes market
possibilities for progress. The Machine Vision Market is intended to
earn USD 15.46 billion with the support of an 8.18% CAGR by the end of 2022.
The applications in smart
security systems are predicted to spur the machine vision market share in the
forthcoming years. The ability to interface easily with human activity is
estimated to provide favourable leverage to the machine vision market size.
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Segmental Analysis
The segmental study of the
machine vision market is conducted on the basis of type, application,
component, end-user and region. The application-based segmentation of the machine
vision market comprises of gauging, guidance, inspection, identification, and
other. Based on the type, the machine vision market comprises of 2D machine
vision, 1D machine, and 3D machine vision. Based on the component, the machine
vision market is segmented into hardware such as cameras, illuminations,
sensors, ASMV, processors and others and software. Based on the end-users, the
machine vision market consists of electronics and semiconductor, automotive,
healthcare, food and packaging, and others. Based on the regions, the machine
vision market consists of North America, Europe, APAC and the rest of the
regions in the world.
Detailed Regional Analysis
The regional scrutiny of
the machine vision market consists of North America, Europe, APAC and the rest
of the regions in the world. The machine vision market is rising with an
optimistic development in all the regions. The application areas in the market
year on year, progression in technology and incorporation is motivating the
machine vision market on a global scale. The Asia Pacific region is governing
the global machine vision market with more than 30% of market portion shadowed
by the European region which takes the second key market stake due to the
substantial demand from the healthcare and automotive industry. The North
American region stands in as the third biggest machine vision market.
Impact of COVID-19 on the Global Machine
Vision Market at: https://www.marketresearchfuture.com/report/covid-19-impact-machine-vision-market
Competitive Analysis
The market is estimated to
be energized by the incentives offered by the governments and the initiatives
taken to spur the global market. The trade blockades are, however, estimated to
slow down the momentum that could be attained by the market. The companies in
the market are estimated to solely focus on getting their growth paths back on
track to maximize the opportunities that may arise. The reinforcement of the
distribution channels is estimated to further place the market in the right
place for the future. The emphasis on marketing strategies is estimated to
decline due to the focus being placed on cost optimization. The contender's
progress in the market is estimated to be bolstered by the innovations that are
being undertaken to enhance the core product offering in the upcoming period.
The notable contenders in
the machine vision market are Vitronic GmbH (Germany), Basler AG (Germany.),
National Instruments (U.S.), Perceptron, Inc. (U.S.), Omron Corporation
(Japan), Microscan Systems (U.S.), Cognex Corporation (U.S.), ViDi Systems SA
(Switzerland), Optotune AG (Switzerland), USS Vision (U.S.), Keyence (Japan),
among others.
Industry Updates:
July 2020 Valmet will be
delivering a new-generation machine vision system to ITC in India. The novel
Valmet IQ Web Inspection System (WIS) will be fitted on ITC's packaging board
machine the BM7, substituting the current WIS system. The innovative Valmet IQ WIS
will permit the mill to examine and develop paper quality in better detail. The
package comprises of two camera beams, and dual-LED light beams for
transmission, maximum high angle reflection with sidelight and bottom high
angle reflection employing multi-geometry technology with smart 8K Dual-line
TDI cameras.
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