Global Machine Vision Market Size By Offering, By Application, By End Use, By Geographic Scope And Forecast

List of Tables

Machine Vision Market Size And Forecast

Machine Vision Market size was valued at USD 3.55 Billion in 2024 and is projected to reach USD 4.93 Billion by 2031, growing at a CAGR of 4.62% from 2024 to 2031.

Machine vision is a technology that enables automated systems to interpret and understand visual information from the world.

Increasingly, this technology is being integrated into various industries to enhance operational efficiency and accuracy.

Applications of machine vision span across multiple sectors, including manufacturing, healthcare, and transportation, where tasks such as quality control, defect detection, and guidance of autonomous vehicles are facilitated.

Growing demand for automation and the rising need for enhanced quality assurance processes have driven the adoption of machine vision solutions.

Factors such as advancements in artificial intelligence, image processing algorithms, and sensor technologies have contributed to significant growth in this field.

Furthermore, the ongoing trend towards smart manufacturing and Industry 4.0 is expected to further propel the development and implementation of machine vision systems in diverse applications, making it a critical component of modern industrial operations.

Global Machine Vision Market Dynamics

The key market dynamics that are shaping the global machine vision market include:

Key Drivers:

Demand for Automation: High levels of automation in manufacturing processes are being driven by the need for increased efficiency and precision. This trend is expected to continue as companies seek to reduce labor costs and enhance productivity. According to the International Federation of Robotics (IFR), the global industrial robot installations reached 422,271 units in 2018, a 6% increase from the previous year. The IFR predicts that by 2022, nearly 4 million industrial robots will be operating in factories worldwide.

Adoption of Artificial Intelligence: Growing integration of artificial intelligence (AI) technologies into machine vision systems is being facilitated by advancements in machine learning and deep learning algorithms. This integration is anticipated to improve the accuracy and capabilities of vision systems significantly. According to VMR, AI in Computer Vision Market size was valued at USD 30.54 Billion in 2024 and is projected to reach USD 309.75 Billion by 2031, growing at a CAGR of 37.05% from 2024 to 2031.

Focus on Quality Control: Increasing emphasis on quality assurance in production lines is being observed as manufacturers strive to meet stringent quality standards. This focus is projected to lead to a rise in machine vision applications for defect detection and product inspection.

Need for Data-Driven Decision Making: Rising reliance on data analytics in industrial operations is being supported by machine vision technologies that provide critical insights from visual data. This trend is likely to enhance decision-making processes across various sectors.

Investment in Research and Development: High levels of investment in research and development activities are being directed toward the development of advanced machine vision solutions. This investment is expected to drive innovation and improve the capabilities of machine vision technologies.

Key Challenges:

High Initial Costs: Hamper the adoption of machine vision systems are high initial investment costs associated with the technology and its integration. These costs are anticipated to deter small and medium-sized enterprises from implementing machine vision solutions.

Lack of Skilled Workforce: Restraining the growth of the market is a lack of skilled professionals who can effectively operate and maintain machine vision systems. This skill gap is projected to impede the widespread adoption of advanced vision technologies across various industries.

Technological Complexity: Impede the implementation of machine vision solutions is the technological complexity involved in deploying and maintaining these systems. This complexity is expected to lead to extended implementation timelines and increased operational risks.

Data Privacy Concerns: Hamper the acceptance of machine vision technologies are concerns regarding data privacy and security. These concerns are likely to result in regulatory challenges that restrict the use of machine vision in certain applications.

Compatibility Issues: Restraining market growth are compatibility issues with existing legacy systems that are often encountered during integration. These issues are anticipated to complicate the transition to modern machine vision solutions, affecting overall efficiency and performance.

Key Trends:

Demand for 3D Vision Systems: High demand for 3D vision systems is being driven by the need for more accurate and detailed imaging capabilities in complex applications. This trend is expected to enhance object detection and recognition, particularly in sectors such as robotics and automation.

Use of Deep Learning Technologies: Growing use of deep learning technologies in machine vision systems is being facilitated by advancements in neural networks. This trend is projected to improve the performance and adaptability of vision applications across various industries.

Integration with IoT Solutions: Increasing integration of machine vision with Internet of Things (IoT) solutions is being observed as industries strive for smarter operations. This integration is anticipated to enable real-time monitoring and data analysis, leading to improved decision-making.

Focus on Smart Manufacturing: Rising focus on smart manufacturing practices is being supported by machine vision technologies that enhance production efficiency. This trend is expected to drive the adoption of vision systems in automated and connected manufacturing environments.

Adoption of Vision Systems in Quality Control: The high adoption of machine vision systems in quality control processes is being driven by the need for improved product inspection. This trend is likely to result in higher standards of quality assurance and reduced defect rates in production lines.

Global Machine Vision Market Regional Analysis

Here is a more detailed regional analysis of the global machine vision market:

North America:

According to Verified Market Research analyst, the North American machine vision market is expected to dominate due to the presence of advanced technological infrastructure and a strong emphasis on automation across various industries.

The U.S. Bureau of Labor Statistics projects that the employment of computer and information research scientists, which includes those working on machine vision technologies, will grow 21% from 2021 to 2031, much faster than the average for all occupations

The United States is anticipated to be the largest contributor to market growth, driven by significant investments in manufacturing and robotics.

High demand for quality inspection and enhanced operational efficiency in sectors such as automotive and electronics is projected to fuel the adoption of machine vision solutions.

Canada is also likely to witness growth, supported by increasing automation in manufacturing processes and a rising focus on innovative technologies.

Europe:

The European machine vision market is anticipated to experience robust growth, propelled by stringent quality standards and a strong focus on technological innovation.

According to the European Machine Vision Association (EMVA), the European machine vision market reached €4.5 billion in 2021, showing a growth of 17% compared to 2020.

Countries such as Germany are projected to lead the region, driven by a well-established manufacturing sector and high investments in automation technologies.

The United Kingdom and France are also expected to contribute significantly, to the increasing adoption of machine vision systems in manufacturing and logistics.

The European market is likely to benefit from collaborative initiatives aimed at enhancing industrial automation and smart manufacturing practices.

Global Machine Vision Market: Segmentation Analysis

The Global Machine Vision Market is Segmented on the basis of Offering, Application, End-User, And Geography.

Machine Vision Market, By Offering

Hardware
Software
Services

Based on Offering, the market is bifurcated into Hardware, Software, and Services. The hardware segment of the machine vision market is expected to hold the largest share due to the critical role played by imaging devices, cameras, and sensors in machine vision systems. Increasing demand for high-resolution cameras and advanced imaging technologies is anticipated to drive significant growth in this segment. The rising need for precision in various applications, such as quality control and automation in manufacturing, is projected to enhance the adoption of sophisticated hardware solutions.

Machine Vision Market, By Application

Measurement
Identification
Positioning
Guidance

Based on Application, the Global Machine Vision Market is divided into Measurement, Identification, Positioning, and Guidance. The measurement segment of the machine vision market is expected to hold the largest share due to the increasing demand for precision in industrial processes. This segment is anticipated to grow significantly as manufacturers strive for higher accuracy and consistency in product dimensions. The adoption of machine vision systems for measurement applications is projected to enhance quality control, reduce material waste, and improve overall productivity. The integration of advanced imaging technologies, such as laser triangulation and optical measurement, is likely to facilitate more accurate measurements in real time.

Machine Vision Market, By End-User

Automotive
Pharmaceuticals & Chemicals
Electronics & Semiconductor

Based on End-User, the market is segmented into Automotive, Pharmaceuticals & Chemicals, and Electronics & Semiconductor. The automotive segment is expected to hold the largest share of the machine vision market due to the increasing demand for automation in manufacturing processes. The need for high-precision quality inspection and defect detection in automotive components is anticipated to drive the adoption of machine vision systems. Moreover, stringent regulations regarding safety and quality standards are likely to necessitate the implementation of advanced inspection technologies in production lines.

Machine Vision Market, By Geography

North America
Europe
Asia Pacific
Rest of the World
On the basis of Geography, the global machine vision market is classified into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is projected to be the fastest-growing market for machine vision, driven by rapid industrialization and increasing demand for automation. Countries such as China are expected to dominate, supported by government initiatives promoting smart manufacturing and Industry 4.0. India is also likely to experience significant growth, fueled by a burgeoning manufacturing sector and rising investments in technology.

Key Players

The "Global Machine Vision Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are LMI Technologies, Inc., Microscan Systems, Inc., TKH Group, Cognex Corporation, Teledyne DALSA, Tordivel AS, Sick AG, Keyence, and Basler. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Machine Vision Market Recent Developments
In June 2023, Allied Vision Technologies Gmbh displayed a wide range of technologies and products at 'Automatica' in Munich. These included the 'Alvium G1' and 'Alvium G5' compact GigE Vision and 5GigE Vision cameras; the launch of the company's 'AI-Blox' platform, which includes the future GMSL-2 Alvium GM2 camera; the Nerian 3D depth camera 'Ruby'; and a peek at the company's Goldeye XSWIR camera.
In June 2023, Omron Automation Americas introduced the F440 Smart Camera to improve the flexibility of machine vision operations. It has a high-resolution sensor, configurable lighting and optics, and a streamlined vision system configuration via the 'AutoVISION' software. The camera is suitable for a variety of applications, including cap inspection, box counting, fill level inspection, measuring, and labeling barcode and OCR.
In June 2023, SICK Ag launched their new multiScan100 series with the release of the'multiScan136', which uses time of flight (TOF) data to produce a 3D perception of its surroundings. The multiScan136 collects 3D measurement data for precise self-localization of cars while also mapping the environment. It has been recommended for usage in mobile robotics for logistics and manufacturing, as well as indoor and outdoor measurements.
In May 2023, Cognex Corporation introduced the 'Advantage 182' vision system for automating complicated locating, classification, and inspection operations, particularly in the life sciences sector. The system uses advanced machine vision, barcode reading, and edge learning technologies to automate activities including presence/absence detection, track-and-trace applications, high-precision alignment, and complicated color checks

Product Code: 3983

1 INTRODUCTION

1.1 MARKET DEFINITION
1.2 MARKET SEGMENTATION
1.3 RESEARCH TIMELINES
1.4 ASSUMPTIONS
1.5 LIMITATIONS

2 RESEARCH METHODOLOGY

2.1 DATA MINING
2.2 SECONDARY RESEARCH
2.3 PRIMARY RESEARCH
2.4 SUBJECT MATTER EXPERT ADVICE
2.5 QUALITY CHECK
2.6 FINAL REVIEW
2.7 DATA TRIANGULATION
2.8 BOTTOM-UP APPROACH
2.9 TOP-DOWN APPROACH
2.10 RESEARCH FLOW
2.11 DATA SOURCES

3 EXECUTIVE SUMMARY

3.1 GLOBAL MACHINE VISION MARKET OVERVIEW
3.2 GLOBAL MACHINE VISION ABSOLUTE MARKET OPPORTUNITY
3.3 GLOBAL MACHINE VISION MARKET ATTRACTIVENESS, BY REGION
3.4 GLOBAL MACHINE VISION MARKET ATTRACTIVENESS, BY OFFERING
3.5 GLOBAL MACHINE VISION MARKET ATTRACTIVENESS, BY APPLICATION
3.6 GLOBAL MACHINE VISION MARKET ATTRACTIVENESS, BY END-USE
3.7 GLOBAL MACHINE VISION MARKET GEOGRAPHICAL ANALYSIS (CAGR %)
3.8 GLOBAL MACHINE VISION MARKET, BY OFFERING (USD MILLION)
3.9 GLOBAL MACHINE VISION MARKET, BY APPLICATION (USD MILLION)
3.10 GLOBAL MACHINE VISION MARKET, BY APPLICATION (USD MILLION)
3.11 FUTURE MARKET OPPORTUNITIES
3.12 GLOBAL MARKET SPLIT

4 MARKET OUTLOOK

4.1 GLOBAL MACHINE VISION MARKET EVOLUTION
4.2 GLOBAL MACHINE VISION MARKET OUTLOOK
4.3 MARKET DRIVERS
- 4.3.1 GROWING DEMAND FOR AUTOMATED QUALITY INSPECTION SYSTEMS TO DRIVE THE MARKET GROWTH
- 4.3.2 GROWING NEED FOR ASICS TO AID THE MARKET GROWTH
- 4.3.3 THE INCREASING POPULARITY OF VISION ENABLED ROBOTICS SYSTEMS TO BOOST ADOPTION
4.4 MARKET RESTRAINT
- 4.4.1 LOW AVAILABILITY OF FLEXIBLE MACHINE VISION SYSTEMS
- 4.4.2 HIGH MAINTENANCE AND LACK OF SKILLED PROFESSIONALS
4.5 MARKET OPPORTUNITY
- 4.5.1 ADVANCEMENTS IN INDUSTRY 4.0 ARE EXPANDING OPPORTUNITIES ACROSS THE MANUFACTURING SECTOR
- 4.5.2 INCREASING DEMAND FOR ARTIFICIAL INTELLIGENCE (AI) IN MACHINE VISION
4.6 IMPACT OF COVID-19 ON THE MARKET
4.7 VALUE CHAIN ANALYSIS
- 4.7.1 ASSESSMENT (INNOVATION)
- 4.7.2 BUILD (IMPLEMENT)
- 4.7.3 PRODUCT/SERVICE TESTING
- 4.7.4 END-USERS
4.8 PORTER'S FIVE FORCES ANALYSIS
- 4.8.1 BARGAINING POWER OF SUPPLIERS: HIGH
- 4.8.2 BARGAINING POWER OF BUYERS: LOW TO MODERATE
- 4.8.3 THREAT OF SUBSTITUTES: MODERATE
- 4.8.4 THREAT FROM NEW ENTRANTS: MODERATE TO HIGH
- 4.8.5 COMPETITIVE RIVALRY: HIGH
4.9 MACROECONOMIC ANALYSIS

5 MARKET, BY OFFERING

5.1 OVERVIEW
5.1 HARDWARE
5.2 SOFTWARE
5.3 SERVICE

6 MARKET, BY APPLICATION

6.1 OVERVIEW
6.2 QUALITY ASSURANCE AND INSPECTION
6.3 POSITIONING AND GUIDANCE
6.4 MEASUREMENT
6.5 IDENTIFICATION

7 MARKET, BY END-USE

7.1 OVERVIEW
7.2 AUTOMOTIVE
7.3 ELECTRONICS & SEMICONDUCTOR
7.4 PHARMACEUTICAL AND CHEMICALS

8 MARKET, BY GEOGRAPHY

8.1 OVERVIEW
8.2 NORTH AMERICA
- 8.2.1 NORTH AMERICA MARKET SNAPSHOT
- 8.2.2 U.S.
- 8.2.3 CANADA
- 8.2.4 MEXICO
8.3 EUROPE
- 8.3.1 EUROPE MARKET SNAPSHOT
- 8.3.2 GERMANY
- 8.3.3 U.K.
- 8.3.4 FRANCE
- 8.3.5 ITALY
- 8.3.6 SPAIN
- 8.3.7 REST OF EUROPE
8.4 ASIA PACIFIC
- 8.4.1 ASIA PACIFIC MARKET SNAPSHOT
- 8.4.2 CHINA
- 8.4.3 JAPAN
- 8.4.4 INDIA
- 8.4.5 REST OF ASIA PACIFIC
8.5 LATIN AMERICA
- 8.5.1 LATIN AMERICA MARKET SNAPSHOT
- 8.5.2 BRAZIL
- 8.5.3 ARGENTINA
- 8.5.4 REST OF LATIN AMERICA
8.6 MIDDLE EAST AND AFRICA
- 8.6.1 MIDDLE EAST AND AFRICA MARKET SNAPSHOT
- 8.6.2 UAE
- 8.6.3 SAUDI ARABIA
- 8.6.4 SOUTH AFRICA
- 8.6.5 REST OF MIDDLE EAST AND AFRICA

9 COMPETITIVE LANDSCAPE

9.1 OVERVIEW
9.2 COMPETITIVE SCENARIO
9.3 COMPANY MARKET RANKING ANALYSIS
9.4 COMPANY REGIONAL FOOTPRINT
9.5 COMPANY INDUSTRY FOOTPRINT
9.6 138
9.7 ACE MATRIX
- 9.7.1 ACTIVE
- 9.7.2 CUTTING EDGE
- 9.7.3 EMERGING
- 9.7.4 INNOVATORS

10 COMPANY PROFILES

10.1 KEYENCE
- 10.1.1 COMPANY OVERVIEW
- 10.1.2 COMPANY INSIGHTS
- 10.1.3 SEGMENT BREAKDOWN
- 10.1.4 PRODUCT BENCHMARKING
- 10.1.5 KEY DEVELOPMENTS
- 10.1.6 SWOT ANALYSIS
- 10.1.7 WINNING IMPERATIVES
- 10.1.8 CURRENT FOCUS & STRATEGIES
- 10.1.9 THREAT FROM COMPETITION
10.2 MICROSCAN SYSTEMS, INC. (OMRON)
- 10.2.1 COMPANY OVERVIEW
- 10.2.2 COMPANY INSIGHTS
- 10.2.3 SEGMENT BREAKDOWN
- 10.2.4 PRODUCT BENCHMARKING
- 10.2.5 SWOT ANALYSIS
- 10.2.6 WINNING IMPERATIVES
- 10.2.7 CURRENT FOCUS & STRATEGIES
- 10.2.8 THREAT FROM COMPETITION
10.3 TELEDYNE DALSA
- 10.3.1 COMPANY OVERVIEW
- 10.3.2 COMPANY INSIGHTS
- 10.3.3 SEGMENT BREAKDOWN
- 10.3.4 PRODUCT BENCHMARKING
- 10.3.5 SWOT ANALYSIS
- 10.3.6 WINNING IMPERATIVES
- 10.3.7 CURRENT FOCUS & STRATEGIES
- 10.3.8 THREAT FROM COMPETITION
10.4 SICK AG
- 10.4.1 COMPANY OVERVIEW
- 10.4.2 COMPANY INSIGHTS
- 10.4.3 SEGMENT BREAKDOWN
- 10.4.4 PRODUCT BENCHMARKING
10.5 BASLER
- 10.5.1 COMPANY OVERVIEW
- 10.5.2 COMPANY INSIGHTS
- 10.5.3 SEGMENT BREAKDOWN
- 10.5.4 PRODUCT BENCHMARKING
- 10.5.5 KEY DEVELOPMENTS
10.6 TKH GROUP
- 10.6.1 COMPANY OVERVIEW
- 10.6.2 COMPANY INSIGHTS
- 10.6.3 SEGMENT BREAKDOWN
- 10.6.4 PRODUCT BENCHMARKING
- 10.6.5 KEY DEVELOPMENTS
10.7 COGNEX CORPORATION
- 10.7.1 COMPANY OVERVIEW
- 10.7.2 COMPANY INSIGHTS
- 10.7.3 SEGMENT BREAKDOWN
- 10.7.4 PRODUCT BENCHMARKING
- 10.7.5 KEY DEVELOPMENTS
10.8 LMI TECHNOLOGIES
- 10.8.1 COMPANY OVERVIEW
- 10.8.2 COMPANY INSIGHTS
- 10.8.3 PRODUCT BENCHMARKING
10.9 TORDIVEL AS
- 10.9.1 COMPANY OVERVIEW
- 10.9.2 COMPANY INSIGHTS
- 10.9.3 PRODUCT BENCHMARKING