Global Machine Vision Market is predicted to reach USD 12.9 billion by 2025

The global Machine Vision Market is estimated to be USD 9.5 billion in 2020 and is predicted to reach USD 12.9 billion by 2025, growing at a CAGR of 6.0% during the forecast period.

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Some of the major factors responsible for the growth of machine vision across the globe are growing demand for quality inspection and automation in various industrial verticals, rising demand for vision-guided robotic systems across the various industries such as chemical, food & beverage, pharmaceutical, packaging, and automotive industries.

On the basis of application, the global machine vision market is categorized into quality assurance & inspection, positioning & guidance, measurement, and identification. In 2020, the quality assurance and inspection segment is expected to be the largest among all the segments and is projected to maintain its dominance, over the study period.

Asia-Pacific is the largest revenue contributor in the machine vision market. The Asia-Pacific region, in particular countries such as China, Taiwan, Japan, South Korea, and India, are experiencing increase in terms of adoption of machine vision products and solutions compared with other regions.

Some of the major players in the global machine vision industry include Microscan Systems, Inc., Basler AG, OMRON Corporation, Keyence Corporation, Cognex Corporation, National Instruments Corporation, Intel Corporation, ISRA Vision, Sick AG, and FLIR Systems.

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Source: VynZ Research