PUBLISHER: The Business Research Company | PRODUCT CODE: 1414310
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414310
“Industrial Machine Vision Camera Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial machine vision camera market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial machine vision camera? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The industrial machine vision camera market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
An industrial machine vision camera is a specialized type of camera specifically designed to capture images or videos for use in automated manufacturing and inspection processes. These cameras play a crucial role in capturing and processing images during various manufacturing activities.
The primary product types of industrial machine vision cameras include line scan cameras and area scan cameras. A line scan camera is a digital camera designed for capturing images of moving objects. The various components involved in these systems include both hardware and software, and they find applications in diverse industries such as manufacturing, medical and life sciences, security and surveillance, intelligent transportation systems, and others.
The industrial machine vision camera market research report is one of a series of new reports from The Business Research Company that provides industrial machine vision camera market statistics, including industrial machine vision camera industry global market size, regional shares, competitors with an industrial machine vision camera market share, detailed industrial machine vision camera market segments, market trends and opportunities, and any further data you may need to thrive in the industrial machine vision camera industry. This industrial machine vision camera market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The industrial machine vision camera market size has grown rapidly in recent years. It will grow from $10.02 billion in 2023 to $11.71 billion in 2024 at a compound annual growth rate (CAGR) of 16.8%. The expansion observed in the historical period can be attributed to factors such as automation in manufacturing, the need for quality control, efforts to reduce costs and improve efficiency, the increasing applications of industrial machine vision cameras, and the rise of Industry 4.0 initiatives.
The industrial machine vision camera market size is expected to see rapid growth in the next few years. It will grow to $20.61 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The anticipated growth in the forecast period can be attributed to the expansion of robotic automation, the integration of IoT connectivity, a focus on edge computing, increased demand for customization and integration services, and adherence to regulatory compliance and standards. Key trends expected in the forecast period involve a growing demand for 3D vision technology, integration of AI and machine learning, advancements in imaging technologies, the implementation of high-resolution imaging, and the continued development of 3D vision technology.
The anticipated surge in the adoption of industrial robots is poised to drive the growth of the industrial machine vision camera market. Industrial robots are mechanical devices designed to autonomously carry out production-related tasks in industrial settings. Industrial machine vision cameras play a crucial role in these robots, enabling them to adapt to environmental obstacles and yield productive benefits. According to the International Federation of Robotics, global robotic sales witnessed a 10% increase in October 2021, with 3 million industrial robots installed and operational worldwide. In 2021, the global installation of industrial robots is projected to increase by 13% to reach 435,000 units. Consequently, the rising adoption of industrial robots is a key factor propelling the growth of the industrial machine vision camera market.
The expanding automotive industry is expected to be a significant driver for the growth of the industrial machine vision camera market. The automotive industry encompasses various companies engaged in designing, developing, manufacturing, marketing, selling, repairing, and modifying motor vehicles. Industrial machine vision cameras play a crucial role in ensuring quality control, enhancing efficiency, and optimizing production processes within the automotive sector. As reported by the Board of Governors of the Federal Reserve System, total vehicle production in the United States increased to 11.77 million units in July 2023, up from 10.91 million units in June 2023. Hence, the growing automotive industry is contributing to the growth of the industrial machine vision camera market.
Technological advancements represent a key trend gaining traction in the industrial machine vision camera market, with companies adopting new technologies to maintain a competitive edge. Nikon Corporation, a Japan-based digital camera manufacturer, launched 'LuFact,' an ultra-compact machine vision camera in July 2022. This innovative camera features a separate camera head capturing interface conversion units and processing images. Its unique design incorporates advanced image processing technology, contributing to reduced heating in existing machinery and production lines by installing the camera head and I/F conversion unit separately.
Major companies in the industrial machine vision camera market are concentrating on the development of innovative products to gain a competitive advantage. Sony Corporation, a Japan-based provider of electronic equipment, instruments, and devices, introduced the ILX-LR1, an interchangeable lens camera (ILC) designed for industrial use in September 2023. The ILX-LR1 offers high resolution, interchangeable lenses, and full remote operation, making it a versatile tool for various industrial applications. With remote control capabilities via the Sony Camera Remote SDK, the ILX-LR1 is suitable for applications where human presence is challenging or hazardous.
In July 2022, TKH Group N.V., a Netherlands-based technology company, acquired Nerian Vision GmbH for an undisclosed amount. This strategic acquisition enhances TKH Group's vision portfolio by augmenting 3D capabilities, expanding their capabilities in both non-industrial and industrial applications. Nerian Vision GmbH, based in Germany, is a manufacturer of high-speed stereo machine vision cameras.
Major companies operating in the industrial machine vision camera market report are Teledyne Technologies Incorporated, Cognex Corporation, TKH GROUP, Basler AG, IDS Imaging Development Systems GmbH, Toshiba Corporation, OMRON Corporation, Baumer Holding AG, Sony Group Corporation, Vieworks Co. Ltd., China Daheng Group Inc., Hangzhou Hikvision Digital Technology Co. Ltd., KEYENCE CORPORATION, Adimec Advanced Image Systems BV, Hikrobot Co. Ltd., LMI Technologies Inc., National Instruments Corporation, Allied Vision Technologies GmbH, SICK AG, Microscan Systems Inc., Tordivel AS, Panasonic Corporation, Matrox Electronic Systems Ltd., Stemmer Imaging Ltd., Datalogic S.p.A., Hermary Opto Electronics Inc., ISRA VISION AG, Pixelink, Tattile S.r.l., Vitronic Machine Vision Ltd.
North America was the largest region in the industrial machine vision camera market in 2023. The regions covered in the industrial machine vision camera market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the industrial machine vision camera market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The industrial machine vision camera market consists of sales of 3D scan cameras, time-of-flight cameras, and short-wave infrared (SWIR) cameras. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.