Machine Vision Market to Hit 9.1% CAGR to 2020

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The machine vision market size to 2020 is boosted by the PC-Based machine vision systems due to rise of its demand in the non-industrial verticals such as healthcare and security & surveillance while the Asia-Pacific is considered as the manufacturing hub of global 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.  

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 Americas accounted for the majority market share of the overall machine vision market in 2014. The APAC market is expected to grow at the highest CAGR between 2015 and 2020. Due to strong industrial base, machine vision systems are in high demand in Americas. Also, several small- and medium-sized companies are entering the market to avail the monetary benefits from this market. Asia-Pacific is considered as the manufacturing hub of world and is expected to provide ample amount of opportunities for machine vision systems.

The various key machine vision vendors profiled in the report such as Cognex Corporation (U.S.), Keyence Corporation (Japan), National Instruments (U.S.), Basler AG (Germany), Omron Corporation (Japan), Adept Technology (U.S.), Allied Vision Technologies GmbH (Germany), IDS Imaging Development Systems GmbH (Germany), Machine Vision Technology (U.K.), Microscan Systems (U.S.), Perceptron, Inc. (U.S.), Sony Corporation, Teledyne Technologies, Inc. and Vitronic GmbH (Germany). Order a copy of Machine Vision Market by Component, Product, Application, Vertical and Geography - Global Forecast to 2020 research report at http://www.rnrmarketresearch.com/contacts/purchase?rname=208879 .

In the process of determining and verifying, the machine vision market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (55%), Tier 2 (20%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-level Executives (35%) and Manager Level (65%) from various key organizations operating in the global machine vision market. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), Asia-Pacific (40%) and RoW (30%).

On a related note, another research on 3D Machine Vision Market Global Forecast to 2020 says, the market is expected to grow at a CAGR of 10.53% during the forecast period between 2015 and 2020 driven by 3D machine vision technology is due to its growing applications in the automotive and electronics industries. PC-based 3D machine vision system still holds the largest share. APAC would be the fastest-growing 3D machine vision market. Companies like Keyence Corporation, Cognex Corporation, ISRA Vision AG, Sick AG, Stemmer Imaging, National Instruments, Hermary Opto Electronics Inc., MVTec Software GmbH, Tordivel AS, Canon U.S.A. Inc. and Texas Instruments have been profiled in this 150 pages 3D machine vision research report available at http://www.rnrmarketresearch.com/3d-machine-vision-market-by-component-camera-frame-grabber-software-product-pc-based-and-smart-camera-based-application-vertical-automotive-consumer-electronics-postal-logistics-its-and-geography-global-forecast-to-2020-market-report.html .

Explore more reports on the Information Technology & Telecommunication market at http://www.rnrmarketresearch.com/reports/information-technology-telecommunication .

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