Machine Vision Market

Machine Vision Market Overview from 2024 to 2034

The machine vision market is expected to grow at a CAGR of 8.1% during the projected period. The market value is expected to increase from USD 9.9 billion in 2024 to USD  21.6 billion by 2034.

Attributes	Details
Machine Vision Market Size, 2024	USD 9.9 billion
Projected Market Size, 2034	USD 21.6 billion
Value-based CAGR (2024 to 2034)	8.1%

Machine Vision Market Size, Analysis, and Insights

• The increasing need for automation and quality control in various industries is driving the growth of the market. Machine vision systems are being increasingly used to automate processes, thereby reducing human error and increasing efficiency.
• The rise of Industry 4.0. Industry 4.0 is all about creating smart factories that incorporate the latest technologies such as IoT, big data, and machine learning.
• The increasing adoption of robotics. As robots become more advanced, they require better vision systems to navigate their surroundings and perform tasks accurately. Machine vision systems are used to enable robots to see, recognize, and interact with objects in their environment.
• The increasing demand for high-quality inspection systems. Machine vision systems are being used to inspect products for defects, ensuring that they meet quality standards and comply with regulations.

Key Opportunities for the Machine Vision Market

The machine vision market is growing rapidly, and manufacturers have numerous opportunities to capitalize on the market potential.

• The machine vision system has functions such as the ability to improve quality control and efficiency in manufacturing processes, which is expected to create significant opportunities in the market. Machine vision systems can quickly and accurately identify defects in products, reducing the need for manual inspections and potentially improving product quality. These characteristics lead to increased customer satisfaction and reduced production costs.
• The ability to automate production processes using machine vision by integrating machine vision systems with other automation technologies, manufacturers can improve production speed and reduce the risk of errors. This can lead to increased efficiency and reduced labor costs, while also ensuring that products are consistently produced to a high standard.
• Increasing need in the food and beverage industry such as packaging and labeling. The machine vision market in the food and beverage industry is highly competitive. To succeed, manufacturers need to stay up-to-date with the latest technologies and ensure that their products meet the specific needs of their target markets.

Challenges in the Machine Vision Market

Manufacturers in the market face several challenges that need to be addressed to sustain growth and profitability.

• The high cost to develop and manufacture machine vision systems is ultimately passed on to the end users. The high cost makes it difficult for manufacturers to remain competitive in the market, especially when competing against lower-cost alternatives.
• The lack of standardization can lead to compatibility issues between different systems, making it difficult for end users to integrate machine vision systems into their existing processes.
• The machine vision market is also highly competitive, with many players vying for market share. Competition can make it difficult for manufacturers to establish themselves in the market and differentiate their products from those of their competitors. In addition, the market is also highly focused on innovation, with new technologies and products being introduced regularly.
• Regulatory challenges are expected to hamper the market growth during the forecast period. Different regions and countries have different regulations and standards.
• Regulatory challenges make it difficult for manufacturers to ensure that their products comply with all the necessary regulations and standards, adding to the complexity and the cost of developing and marketing machine vision systems.

Category-wise Insights

1-D Vision System Dominates the Market by Type

Attributes	Details
Top Type	1-D Vision System
CAGR (2024 to 2034)	8.0%

• Increasing need for versatility and cost-effectiveness is driving the segment’s growth. 1-D vision systems are capable of measuring the length, width, height, and position of objects, making them suitable for a wide range of industrial and manufacturing applications.
• 1-D vision systems are relatively simple and easy to integrate into existing production lines, making them a popular choice for many businesses.
• Compared to other machine vision systems, 1-D vision systems are often less expensive, making them accessible to a wider range of businesses. Affordability has helped to drive demand for 1-D vision systems and has led to their widespread adoption across various industries.

The PC-based Segment Dominates the Market by System

Attributes	Details
Top System	PC based
CAGR (2024 to 2034)	7.6%

• The dominance of PC-based systems is particularly pronounced in industries such as manufacturing and logistics, where machine vision is used extensively for quality control and automation.
• The increasing availability of low-cost, high-performance computing hardware is making PC-based machine vision systems more accessible to small and medium-sized businesses, further driving market growth.
• The PC-based segment is likely to remain dominant in the machine vision market in the foreseeable future, due to its flexibility, scalability, and processing power.

Country-wise insights

Countries	CAGR (2024 to 2034)
China	8.5%
United Kingdom	9.5%
Japan	8.8%
United States	8.3%
South Korea	9.8%

Technological Innovations in the United Kingdom

• The United Kingdom has a strong reputation for technological innovation, particularly in sectors such as healthcare, automotive, and manufacturing.
• The use of machine vision technology in these industries enables better quality control, process optimization, and product innovation, which is driving market growth.
• The United Kingdom government's focus on promoting Industry 4.0 initiatives and digital transformation across various sectors is fueling the demand for machine vision systems. With labor costs rising and skilled labor shortages, United Kingdom’s businesses are increasingly turning to automation solutions like machine vision to streamline operations, reduce errors, and achieve higher levels of precision and consistency in manufacturing and logistics processes

Significant Investments in Research and Development in the United States

• The United States is widely recognized for its robust manufacturing sector, which heavily utilizes machine vision technology for quality inspection, defect detection, and production optimization.
• As manufacturers strive to maintain competitiveness and meet stringent quality standards, the demand for machine vision systems continues to grow.
• The United States is home to many leading machine vision technology companies and research institutions that are driving continuous innovation in the field.
• With significant investments towards research and development in machine vision technology from the United States government and private sector organizations, the development of next-generation machine vision systems with improved performance, reliability, and functionality is being fostered, further propelling market growth.

Increasing Demand for Automation in Various Industries in China

• The Chinese government has been actively promoting the development of high-tech industries, including machine vision, through various policy initiatives and funding support. The government initiatives have led to increased investment in the industry and the development of new technologies, further driving demand.
• The increasing demand for automation in various industries, such as automotive and electronics, has also contributed to the growth of the machine vision market. Machine vision technology is being used to improve efficiency and productivity by automating tasks such as inspection, measurement, and identification.

Increasing Applications of Robotics in Japan

• Japan faces demographic challenges with an aging population and a declining workforce. To cope with labor shortages and maintain productivity levels, Japanese industries increasingly adopt machine vision systems for automation, robotics, and quality assurance.
• Japan's reputation for manufacturing excellence and commitment to quality aligns with the objectives of machine vision technology. Machine vision systems are widely used in Japanese manufacturing industries for defect detection, assembly verification, and process optimization, driving market expansion.
• Japan is a global leader in robotics and artificial intelligence (AI) research and development. Machine vision technology plays a crucial role in robotics applications, enabling robots to perceive and interact with the environment. The integration of machine vision with robotics and AI technologies is further propelling market growth.

Adoption of Automation and Robotics in Various Industries in South Korea

• The increasing adoption of automation and robotics in various industries in South Korea. With the rise of Industry 4.0, many companies are looking to automate their processes to improve efficiency and reduce costs. Machine vision technology plays a critical role in this automation by providing real-time visual feedback to robots and other automated systems.
• The growing need for quality control and inspection in manufacturing. With the rise of e-commerce and the increasing importance of product quality, companies are under pressure to ensure that their products meet the highest standards.
• The South Korean government has been investing heavily in the development of machine vision technology. The government has identified technology as a key area of growth and has been providing funding and support to companies in this space.

Competitive Landscape

As the machine vision market continues to grow, more and more companies are expected to enter the market, leading to increased competition. Existing players are also likely to ramp up their efforts to innovate and differentiate themselves from the competition. As a result, the machine vision market is expected to remain highly competitive in the foreseeable future.

Recent Developments in the Machine Vision Market

• In 2023, SICK Ag has introduced its latest product, the 'multiScan136' as part of the multiScan100 family, which utilizes time of flight (TOF) measurement to create a 3D perception of its surroundings. The multiScan136 is capable of providing 3D measurement data that enables accurate self-localization of vehicles while mapping the environment simultaneously. Its applications include use in mobile robotics for logistics and manufacturing, as well as indoor and outdoor measurements.
• In 2023, Omron Automation Americas has launched a new product, the F440 Smart Camera, designed to provide greater flexibility to machine vision operations. This camera comes equipped with a high-resolution sensor, customizable lighting, and optics, and a simplified vision system configuration that can be easily set up using the user-friendly 'AutoVISION' software. The camera serves as an ideal solution for numerous applications, including cap inspection, box count, fill level inspection, measurement, and label barcode & OCR, among others.

Key Market Players

• Cognex Corporation
• Basler AG
• Teledyne Technologies, Inc.
• Keyence Corporation
• Omron Corporation
• National Instruments Corporation
• Sony Corporation
• Allied Vision Technologies GmbH
• Texas Instruments, Inc.
• FLIR Systems, Inc.

Key Coverage in the Machine Vision Market Report

• Machine Vision Camera Market Landscape
• Application Analysis Of Machine Vision Market Assessment
• Robotic Vision Industry Outlook
• 3D Machine Vision Market Analysis
• Computer Vision Pricing Scenario

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type
  • 5.1. 1-D Vision System
  • 5.2. 2-D Vision System
  • 5.3. 3-D Vision System
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By System
  • 6.1. PC based
  • 6.2. Smart Camera
  • 6.3. Others
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Industry
  • 7.1. Semiconductor
  • 7.2. Healthcare
  • 7.3. Automotive
  • 7.4. Manufacturing
  • 7.5. Others
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 8.1. North America
  • 8.2. Latin America
  • 8.3. Western Europe
  • 8.4. Eastern Europe
  • 8.5. South Asia and Pacific
  • 8.6. East Asia
  • 8.7. Middle East and Africa
• 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Key Countries Market Analysis
• 17. Market Structure Analysis
• 18. Competition Analysis
  • 18.1. Cognex Corporation
  • 18.2. Basler AG
  • 18.3. Omron Corporation
  • 18.4. Keyence
  • 18.5. National Instruments
  • 18.6. Sony Corporation
  • 18.7. Teledyne Technologies
  • 18.8. Texas Instruments
  • 18.9. Intel Corporation
  • 18.10. ViDi Systems SA
• 19. Assumptions & Acronyms Used
• 20. Research Methodology