Widened Applications to Drive Global Machine Vision Market by 2030

1
Widened Applications to Drive Global Machine
Vision Market by 2030 Triton Market Research
presents the Global Machine Vision Market
report sectioned by Vertical (Electronics
Semiconductors, Automotive, Food Packaging,
Healthcare, Other Verticals), by Application
(Inspection, Identification, Gauging, Guidance,
Other Applications), by Type (1D Machine Vision,
2D Machine Vision, 3D Machine Vision), by
Component (Hardware ASMV, Sensors, Cameras,
Processors, Illuminations, Other Hardware
Components, Software), and by Regional Outlook
(Europe, Latin America, Middle East and Africa,
Asia-Pacific, North America). The report further
discusses the Market Summary, Industry Outlook
(Impact Analysis, Market Maturity Analysis,
Porters Five Forces Analysis, Key Market
Strategies, Key Impact Analysis, Drivers,
Challenges, Opportunities, Analyst Perspective),
Competitive Landscape, Research Methodology
Scope, Global Market Size, Forecasts Analysis
(2023-2030). The report by Triton Market Research
states that the global machine vision market will
develop with a CAGR of 5.90 in the forecast
years from 2023 to 2030.
Request Free Sample Report https//www.tritonmark
etresearch.com/reports/machine-vision-marketreque
st-free- sample
2
The automotive, semiconductor, and electronics
industries are traditional end-users of MV
systems due to the enhanced need for quality
inspection and visual data collection. But, in
recent years, more non-traditional end-users have
begun using machine vision components for their
specific needs. For instance, increased global
regulation has compelled the pharmaceutical
industry to install MV systems to ensure quality,
security, and traceability at every step of the
manufacturing process. Moreover, life sciences,
robotics, and traffic management are also
expected to see much demand for machine vision
systems, over the forecasted years, which is
expected to augment the markets growth. On the
other hand, despite the multiple business
benefits it offers, machine vision is yet to be
utilized to its full potential. This is because
MV systems require a high level of expertise to
ensure their successful and efficient functioning
post implementation. This factor majorly hampers
the growth of the studied market. The
Asia-Pacific region leads the global market for
machine vision. It accounted for the highest
revenue share in 2022, and is anticipated to
maintain its lead until the end of the estimated
period. The rise in the disposable incomes of the
middle-class population in India and China has
enhanced the demand for consumer goods. This,
coupled with rising government stimulus packages
to develop the infrastructure, will fuel the
regional markets growth in the years to come.
Further, an increase in the outsourcing of
manufacturing activities to low-cost nations,
especially those in the Asia- Pacific, is another
driver for the machine vision market. Jai AS,
Omron Corporation, Perceptron Inc, Isra Vision
AG, Allied Vision Technologies GmbH, FLIR Systems
Inc, Baumer Electric AG, Keyence Corporation,
Teledyne Technologies Incorporated, National
Instruments Corporation (NI), Datalogic SpA,
Optotune AG, Basler AG, Cognex Corporation, and
USS Vision are some of the leading players
operating in this market. The studied market is
highly competitive, with several local, regional,
and international players, ranging from SMEs to
large-scale organizations. Manufacturers compete
by offering similar features at lower prices and
acquiring major companies or by offering the same
characteristics at similar prices. Besides, they
are majorly engaged in RD activities to further
advance their products and technologies.
Additionally, various companies in the market
provide different technologies for different
applications. Therefore, the threat of industry
rivalry is high.
Contact Us sales_at_tritonmarketresearch.com Phone
44 7441 911839