PUBLISHER: The Business Research Company | PRODUCT CODE: 1693210
PUBLISHER: The Business Research Company | PRODUCT CODE: 1693210
Machine vision systems and components encompass technologies and hardware utilized for automated visual inspection and analysis in both industrial and commercial applications. These systems are engineered to emulate and enhance human vision capabilities, enabling tasks such as quality control, object recognition, measurement, and defect detection across diverse industries.
The primary types of products in machine vision systems and components are PC-based and smart camera-based. A PC-based machine vision system refers to a computer-driven visual inspection system utilizing cameras and image processing software for automated analysis and decision-making. This category encompasses various components, including both hardware and software, incorporating technologies such as imaging technology, laser technology, and augmented reality. These systems find applications in diverse areas, such as quality assurance and inspection, position guidance, measurement, identification, pattern recognition, and others. They cater to a wide range of end-users, including automotive, semiconductor, metal and glass, pharmaceuticals, wood and paper, rubber and plastic, food packaging, consumer goods, and more.
The machine vision systems and components market research report is one of a series of new reports from The Business Research Company that provides machine vision systems and components market statistics, including machine vision systems and components industry global market size, regional shares, competitors with a machine vision systems and components market share, detailed machine vision systems and components market segments, market trends and opportunities, and any further data you may need to thrive in the machine vision systems and components industry. This machine vision systems and components 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 machine vision systems and components market size has grown strongly in recent years. It will grow from $13.19 billion in 2024 to $14.23 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to cost reduction in hardware components, increasing industrial automation, growing demand in automotive industry, regulatory standards and compliance.
The machine vision systems and components market size is expected to see strong growth in the next few years. It will grow to $18.31 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rise of edge computing, expansion of healthcare applications, growth in robotics and automation, expansion of smart cities and infrastructure. Major trends in the forecast period include advancements in sensor technologies, rapid technological advancements, advancements in 3D vision technology, integration of AI (artificial intelligence) and machine vision.
The increasing prevalence of the e-commerce industry is set to drive the growth of the machine vision systems and components market. E-commerce, involving online transactions and exchanges, has gained popularity due to its convenience and accessibility, fostering a growing preference for online shopping. Within this landscape, machine vision systems and components play a crucial role in tasks such as automated product inspection, improving visual search capabilities, and optimizing logistics through efficient object recognition. These applications collectively contribute to enhancing customer experiences and operational efficiency in the e-commerce sector. Recent data from November 2023, reported by the United States Census Bureau, reveals a continued upward trend in e-commerce, with a 7.6% increase in the 3rd quarter of 2023 compared to the 4th quarter of 2022. Online stores accounted for 15.4% of all sales in the second quarter of 2023, underlining the substantial impact of e-commerce on the market.
Major companies operating in the machine vision systems and components market are focusing on advanced solutions, such as autonomous machine vision systems, to improve efficiency and drive innovation across various industries. These autonomous systems are self-contained visual inspection technologies that utilize cameras and processing algorithms to make independent decisions without human intervention. For example, in March 2022, Cognex Corporation, a US-based system software company, launched the In-Sight 2800 series of vision systems, which integrate advanced AI capabilities for real-time inspection and enhanced decision-making. This series combines artificial intelligence with traditional rule-based vision tools, making it versatile for applications like presence/absence detection, sortation, and character reading. The In-Sight 2800 aims to offer an easy-to-deploy solution for error-proofing, boosting operational efficiency across multiple industries.
In October 2023, Cognex Corporation, a US-based industrial machine vision company, acquired Moritex Corporation. This strategic acquisition positions Cognex to expand its market reach and seamlessly deliver cutting-edge solutions to Moritex's extensive customer network. The move enhances Cognex's capabilities, enabling the provision of a more comprehensive machine vision offering to meet evolving industry demands. Moritex Corporation, based in the US, specializes in manufacturing machine vision optical components.
Major companies operating in the machine vision systems and components market are Sony Corporation, Panasonic Corporation, Texas Instruments Incorporated, Omron Corporation, Keyence Corporation, Teledyne Technologies Incorporated, Cypress Semiconductor Corporation, National Instruments Corporation, Cognex Corporation, FLIR Systems Inc., Baumer Optronic GmbH, Basler AG, Vitronic GmbH, Perceptron Inc., Point Grey Research Inc., Scorpion Vision Ltd., Hitachi Industrial Equipment Systems Co. Ltd., IDS Imaging Development Systems GmbH, Sick AG, Lumenera Corporation, Adept Technology Inc., Microscan Systems Inc., Allied Vision Technologies GmbH, JAI AS, Optotune AG
Asia-Pacific was the largest region in the machine vision system and components market in 2024. The regions covered in the machine vision systems and components market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the machine vision systems and components market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The machine vision system and components market consists of revenues earned by entities by providing services such as consultation and needs analysis, integration services, software development and customization, technical support and maintenance, and quality assurance and validation. The market value includes the value of related goods sold by the service provider or included within the service offering. The machine vision system and components market also includes sales of cameras, frame grabbers, lighting, processors, sensors, industrial protocols, and optics. 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.
Machine Vision Systems And Components Global Market Report 2025 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 machine vision systems and components 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 machine vision systems and components ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The machine vision systems and components 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.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.