Industrial Machine Vision Market Applications, Segmentations & Forecast by 2024

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Industrial Machine Vision Market Forecast
Business Opportunities 2017-2024 Global Market
Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2
Regional Analysis of Industrial Machine Vision
Market

• Asia Pacific industrial machine vision market is
  predicted to witness a significant growth over
  the forecast timespan. The growth can be
  accredited to the increasing number of industries
  in emerging economies including China, India,
  Japan, and South Korea. An increase in the demand
  for consumer products in China is providing
  growth opportunities to the industrial machine
  vision market. The growing trend of the drift
  toward 3D-based industrial machine vision systems
  is expected to propel the regional market growth.
• Rising government initiatives to encourage the
  growth of smart factories are propelling the
  industrial machine vision market growth.
  Governments across various emerging economies are
  investing in the development of smart
  manufacturing techniques to support the
  industrial sector. For instance, the government
  of Chinas Made in China 2025 policy for the
  integration of digital technologies and
  industrialization is providing an impetus to the
  industrial machine vision market.

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• Application Analysis of Industrial Machine Vision
  Market
• Based on application, the industrial machine
  vision market can be classified into
  identification, measurement, positioning
  guidance, and quality assurance inspection. The
  quality assurance inspection segment will
  witness growth owing to the increasing demand for
  high-quality products in less amount of time.
  Utilization of machine vision enhances the
  automation process by identifying problems in a
  short span of time. In addition, the rising
  requirement of industries to reduce operational
  costs and improve the response time is
  contributing to the industry demand.
• The industrial machine vision market is segmented
  into the component, product, application,
  end-use, and region. Based on the component, the
  market can be segmented into hardware and
  software. The hardware segment encompasses LEDs,
  optics, processors, and cameras while the
  software segment includes application-specific
  software and deep learning. Growing significance
  of AI-infused machine vision software is
  anticipated to fuel the industrial machine vision
  market. Capabilities of deep learning to provide
  real-time solutions facilitate the detection of
  faults during the manufacturing process and aid
  the technology to gain popularity.

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Competitive Market Share of Industrial Machine
Vision Market

• Key players operating in the industrial machine
  vision market include Omron Corporation, Teledyne
  Technologies, Keyence Corporation, MVTec Software
  GmbH, National Instruments, Texas Instruments,
  Baumer Optronic, Qualitas Technologies, Sick AG,
  and ISRA Vision AG.
• Companies operating in the industry are trying to
  strengthen their market presence in emerging
  economies with the launch of advanced solutions
  and by involving in merger acquisition
  activities.
• For instance, in April 2017, Omron Corporation
  announced that the company will be acquiring
  industrial camera firm Sentech Co., Ltd. to
  provide enhanced solutions to customers.

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