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Research and Markets has announced the addition of the "Machine Vision Systems and Components Market Analysis: By Type; Functions; Industry - Forecast (2015 - 2020)" report to their offering.
The increasing demand for these autonomous robots and other robotic platforms has set demand for machine vision systems and this trend, machine vision systems and components market is expected to grow at a CAGR of 12.6% with total revenue of $8.6 billion by 2021.
In the past decade, there have been enormous improvements in image processing field such as advancements in face recognition, image recognition, object recognition, text extraction from image, hand written text recognition, motion recognition and many more. These advancements will drive the machine vision systems market in coming years by creating new opportunities for applications across different industrial and also non industrial verticals.
Machine Vision Systems are widely used in different industrial and non-industrial verticals in various applications such as Identification, Verification, Measurement, Inspections, and others. Smart camera systems are one of the turnkey solutions for robotics, these systems are majorly used in robot guidance. Smart cameras have enabled the autonomous robots to freely navigate in industrial environment.
