Global Machine Vision Systems and Components Market valued $7882.5 million in 2017, and will grow at a CAGR of 8.64% during 2018 - 2023.

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The Global Machine Vision System And Components
Market Revenue of 7882.5M And Growing with a
CAGR of 8.64 during 2018-2023.
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American region held the largest market segment
for machine vision systems and components, with a
share of 30 in 2017. The value is estimated to
grow to 3728.9 million by 2023 at a CAGR of
7.98, due to heavy increase of automation in
many industries. The competitors are looking
forward to reduce the manufacturing cost, which
will be the vital reason behind the reduction of
prices of machine vision., In turn, it will fuel
the market in the Asia-Pacific region. Europe is
the second largest market that held 3226.2
million in 2017.
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Selected Analysis Done in the Full Report
Hardware components is holding major share on
machine vision systems and components market,
with 63.6 of the overall market. The market
accounting to 5.04 billion in 2017 is
anticipated to grow at a CAGR of 9.20 to reach
8.54 billion by 2023.Machine vision camera
segment is the leading component in the market
since the past 3 years. Vision camera component
by hardware is expected to grow at a faster rate
with a CAGR of 11.04, and to reach the value of
4119 million by 2023.
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Excerpts on Market Growth Factors Mentioned in
the Full Report

• Growing demand in setting industrial application
  areas has a huge demand for smart cameras. In the
  process of production, smart cameras are used for
  inspection and quality assurance purposes. Thus,
  increasing demand for smart cameras will lead the
  machine vision system and component market.
• Growing adoption rate in the automotive industry
  is another major reason behind the increase in
  machine vision system market. The machine vision
  system automatically communicates to other
  systems to control the complete production level.

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Key Players of the Machine Vision Systems and
Components Market

• Cognex Corporation
• Sony Electronics Inc.
• OMRON Corporation
• Panasonic Corporation
• Microscan Systems, Inc.
• And 15 more

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