Machine Vision Market is Projected to USD 12.49 Billion by 2020

Date: 2015-12-11

“Increasing demand for application-specific machine vision systems driving the machine vision market”
The machine vision market size is estimated to grow from USD 8.08 billion in 2015 to USD 12.49 billion by 2020, at an estimated CAGR of 9.1% from 2015 to 2020. The machine vision market is driven by the factors such as Increasing need for quality inspection and automation, Growing demand for vision-guided robotics systems, Rise in labor costs would create investment opportunities for vision-guided industrial robots and other automation technologies in china, and Growing number of regulatory mandates for food, pharma, and automotive industry.  

“PC-Based systems to gain maximum traction during the forecast period”
The PC-Based machine vision systems are estimated to contribute the largest market share during the forecast period. Smart camera-based systems market is expected to gain traction and grow at the highest CAGR in the next five years. These are the most sustainable product segment for the machine vision market. The major reasons are the low cost and ease of use. Compared to PC-based systems, the smart camera-based machine vision systems can accomplish the task of decoding algorithms, traceability applications such as ID code reading, text verification, mark quality assessment, and label inspection now be accomplished more economically. They are generally easier to configure, validate, and maintain. Being configurable rather than programmable, the smart camera-based machine vision systems make it easier for the manufacturers to implement changes in regulations and standards in future.  

The various key machine vision vendors profiled in the report are as follows:
1. Cognex Corporation (U.S.)
2. Keyence Corporation (Japan)
3. National Instruments (U.S.)
4. Basler AG (Germany)
5. Omron Corporation (Japan) 
6. Adept Technology (U.S.)
7. Allied Vision Technologies GmbH (Germany)
8. IDS Imaging Development Systems GmbH (Germany)
9. Machine Vision Technology (U.K.)
10. Microscan Systems (U.S.)
11. Perceptron, Inc. (U.S.)
12. Sony Corporation
13. Teledyne Technologies, Inc.
14. Vitronic GmbH (Germany)

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