Global Machine Vision Technologies Market to Grow to $30.8 Billion by 2021

Estimated reading time: 1 minute

Research and Markets has announced the addition of the "Global Markets for Machine Vision Technologies" report to their offering.

The global market for machine vision (MV) system components will grow from $19.0 billion in 2016 to $30.8 billion by 2021 with a compound annual growth rate (CAGR) of 10.2% for the period of 2016-2021.

This report covers the market for MV hardware and software, including smart cameras and smart sensors, compact vision systems, PC-based MV systems, MV lighting and cameras, and frame grabbers.

A variety of factors were considered in making the market forecast, including plant construction and upgrades, the rate at which new MV technology is being applied in new areas, the underlying economic growth of the overall market, and the growth rates reported by manufacturers and end users of MV products.

This report provides: 

• An overview of the global market for machine vision (MV), an automated technology through which images are captured and transferred to a PC and processed thereafter, for inspection and reporting of the processed results. 
• Analyses of global market trends, with data from 2015, estimates for 2016, and projections of compound annual growth rates (CAGRs) through 2021. 
• Examinations of the global market for the various components that make up an MV system, as well as the advances in MV technology, such as smart cameras and vision-guided robotics, that have facilitated and accelerated varied applications for industrial as well as nonindustrial use in the near future.
• Discussion of the structure of the industries involved in the research, development, design, and manufacture of MV components and systems.