The global industrial vision market is considered to garner USD 11 billion during the forecast period (2017-2023). The global market is estimated to garner 14% CAGR owing to its several advantages like high-end machine systems which can perform robust preprocessing, asserts Market Research Future (MRFR). The global industrial vision market is penetrating the market with whole new innovation in the healthcare industry. Robotic surgery devices allow the surgeons to manipulate expert robotic limbs to perform surgeries with fine detail with less vibrations that is not be possible by the human hand alone. Vision systems are regarded to be an integral part of several industrial processes as they can offer accurate, fast, and reproducible inspection capabilities at highly competitive cost.
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Drivers and Constraints Impacting the Market:
Machine vision market has several advantages including high-end machine systems which are capable of performing segmentation algorithms and several robust preprocessing. Such systems perform segmentation algorithms and multiple preprocessing at real-time rates on the basis of their designs, application-specific integrated circuits. Such systems are distinct from the embedded vision computers/processors, smart cameras, or host-based processing systems that employ simple digital cameras and deliver image data directly to the host. Industrial vision systems are more robust and demand high stability, reliability, and accuracy compared to those which are used in educational or institutional applications. Industrial vision costs lesser than the systems used in aerospace, military, government applications, and defense. Such factors are anticipated trigger the industrial vision market growth during the assessment period. Moreover, robotic vision systems are used across industries which is resulting in an increased adoption of the technology, thereby propelling the overall market growth.
On the flip side, intensive training and education and need of machine vision to enter into newer markets are considered to restrain the machine vision system market growth. Moreover, the changing requirements of the end-users with respect to industrial machine vision applications coupled with the lack of flexible machine vision solutions are presumed to dampen the market growth in the coming years.
The global industrial vision market has been segmented on the basis of product, component, technology, vertical, and region.
By mode of product, the global industrial vision market has been segmented into embedded and PC-based. Among these, the embedded system constantly performs the same basic tasks and rarely requires any hardware changes like adding extra storage space or memory. It performs a simple role that usually does not change the requirements for the operating system. On the other hand, PC-based systems frequently require expertise in order to calibrate and use the most advanced machine vision system.
By mode of technology, the global industrial vision market has been segmented into imaging, laser, and augmented.
By mode of component, the global industrial vision market has been segmented into software and hardware.
By mode of vertical, the global industrial vision market has been segmented into consumer electronics, automotive, metals, pharmaceutical, food & packaging, healthcare, and others. Among these, the food & packaging is anticipated to expand at the highest rate as the food industry offer several opportunities to the machine vision market and companies have responded by developing application-specific solutions in areas of sorting, processing, grading, portioning, and quality check.
Geographically, the industrial vision market spans across North America, Asia Pacific, Europe and Rest of the World.
The North American region is considered to experience the highest market share owing to the advanced technology implemented in the industries. The Asia-Pacific region showcases a high growth rate in the market owing to the presence of major manufacturing countries such as Japan, China, South Korea, and India. On the other hand, Europe is considered as one of the prominent players in the market owing to the presence of major automotive manufacturers in this region.
The prominent players operating the global industrial vision market are Teledyne Dalsa (U.S), Basler AG (Germany), MVTech Software GmBH (Germany), Pixelink (U.S), Omron Corporation (Japan), JAI (U.S), Adept Technologies Inc. (U.S), Cognex Corporation (U.S), Sick IVP (Germany), and LMI Technologies (U.S)
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