Machine Vision
Technology Market Global Industry Analysis by 2021
Machine vision
technology is used to provide imaging based automatic inspection,
robot guidance and process control. It utilizes one or more cameras,
converting analog to digital and digital processing system. The
machine
vision technology is rapidly replacing the manual inspection and
measurements with image processing and smart cameras. These smart
cameras do not require any computer and run and function
independently. Moreover, adoption of this system in industrial as
well as in non-industrial sector is expected to escalate the demand
and growth of this market.
Shift in demand of
technology towards automation is one of the important factors driving
this market. Machine vision technology helps in auto defect
detection, quality inspection, tolerance monitoring and component
measurement. Another driving factor of this market includes global
increase in manufacturing sectors. Machine vision is largely used in
manufacturing sectors for the inspection of microchips, resistors and
components. In automotive industries, this technology is used for
welding quality check, detecting defects and inspecting engine
blocks. Therefore, increasing implementation of this technology in
the manufacturing sector is driving the growth of this market.
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The machine vision
technology market has been segmented geographically into four region
North America, Europe, Asia Pacific and RoW. Moreover the market is
segmented by product types which includes embedded, PC based and
smart camera based machine vision systems. The PC based machine
vision held the largest market size of 60% growing at a CAGR of 8.2%
during the forecast period from 2015 to 2021. Furthermore, the market
is segmented by application types that include industrial and
non-industrial application. The industrial application segment is
growing at a CAGR of 8.2% and the non-industrial segment is growing
at a CAGR of 9.0% during the forecast period.
Asia-Pacific region
held the largest market size for machine vision technology market.
Moreover, the market in Asia Pacific is expected to grow at a CAGR of
7.3% during the forecast period. One of the important driving factors
of this market is increasing manufacturing sectors in Asia-Pacific
market. In Asia Pacific region, PC based machine vision technology
held the largest market share of 39.70% in 2014 and is growing at a
CAGR of 6.5% during the forecast period. The industrial application
held the largest market share of 59.8% followed by non-industrial
segment with 40.2%. However, one of the major restraints in this
region is inefficient system operators due to the lack of training.
Europe is next to Asia Pacific and had the market share of 35.0% in
2014.
Major industry
participants include Cognex Corporation (Massachusetts), Basler AG
(Germany), Allied Vision Technologies Inc. (Germany), Adept
Technology Inc. (California), Keyence Corporation (Japan), ISRA
Vision AG (Germany), Microscan Systems Inc.(Washington), Electro
Scientific Industries Inc. (Oregon), OMRON Corporation (Japan) and
Seeing Machines Ltd. (Australia) among others.
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