The global machine vision market size is expected to reach USD 18.24 billion by 2025 at a 7.7% CAGR during the forecast period, according to a new report by Grand View Research, Inc. The ability of machine vision systems to process massive amounts of information in a just a few seconds is a major factor driving the market. The quick processing ability of machine vision systems is paving the way for manufacturers to achieve new milestones in manufacturing products with negligible defects. Moreover, increasing adoption of robots across industrial sectors is leading to application of vision-guided robotic systems. Industrial verticals, such as automotive, pharmaceutical, packaging, and food and beverage are prominent sectors where robotic systems are used, eventually fueling demand for machine vision systems.
Machine vision technology encompasses various components in order to capture images of products to analyze them, depending on different parameters of quality and safety. The technology is a combination of software and hardware, which provides operational control to devices to execute functions such as capturing and processing of images and measuring various characteristics required for decision making. Major components of the system include lighting, lens, image sensors, vision processing, and communication devices. Machine vision systems assist in resolving complicated industrial tasks with reliability.
Industrial machine vision systems are usually more robust and demand high reliability, stability, and accuracy as compared to those used in institutional or educational applications. They cost lesser than systems used in military, aerospace, defense, and government applications. These factors are expected to lead to greater adaptability of the technology in industrial sectors. In addition, robotic vision systems used across these industries are leading to increasing adoption of the technology, thereby strengthening the overall market.
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The technology has proven to be of key importance in the area of manufacturing and quality control, owing to rising need for quality inspection and production. In addition, growing automation in industrial segments is facilitating the growth of the market at a considerable rate.
Further key findings from the report suggest:
- By way of product, the PC-based segment accounted for the largest market share in 2017 and is estimated to continue its dominance over the forecast period
- On the basis of application, the identification segment is anticipated to exhibit the fastest growth rate over the forecast period, followed by the positioning and guidance segment
- By end use, the food and beverages industry is expected to witness the highest CAGR over the forecast period
- The Asia Pacific market is expected to witness substantial growth over the next decade. This growth is witnessed in the wake of ample opportunities offered due to presence of large manufacturing hubs across the food and packaging, automotive, pharmaceutical, industrial, and consumer electronic sectors
- Prominent companies in the industry include Allied Vision Technologies GmbH (Germany), Basler AG (Germany), Cognex Corporation (U.S.), Keyence Corporation (Japan), National Instruments (U.S.), Omron Corporation (Japan), Machine Vision Technology (U.K.), and Microscan Systems (U.S.).
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Key Topics Covered
Chapter 1 Methodology and Scope
1.1 Research Methodology
1.2 Research Scope & Assumptions
1.3 List of Data Sources
Chapter 2 Executive Summary
2.2 Flow Computers Market-Industry Snapshot
Chapter 3 Industry Outlook
3.1 Market Segmentation &Scope
3.2 Flow Computers Market Size and Growth Prospects
3.3 Flow Computers Market-Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market driver analysis
126.96.36.199 Increasing need for implementation of advanced technology and reliable flow computing systems
188.8.131.52 Growing demand for wastewater treatment to reduce the concentration of contaminants
3.4.2 Market restraint analysis
184.108.40.206 Reducing cost of oil & gas
3.4.3 Market opportunity analysis
220.127.116.11 Increasing adoption of process automation in the oil & gas industry
18.104.22.168 Advancements in the flow computing software
3.4.4 Market challenge analysis
22.214.171.124 Advanced computing devices
3.5 Flow computers Market-Key Company Analysis, 2017
3.6 List of Other Industry Participants in the Flow Computers Market
3.7 Flow Computer Market Industry Analysis-Porter’s Five Forces Analysis
3.8 Flow Computers Market-PESTEL Analysis
Chapter 4 Flow computers Market: Component Estimates & Trend Analysis
4.1 Flow Computers Market: Component Analysis
126.96.36.199 Market estimates and forecasts, 2014 – 2025 (USD Million)
188.8.131.52 Market estimates and forecasts, 2014 – 2025 (USD Million)
184.108.40.206 Market estimates and forecasts, 2014 – 2025 (USD Million)
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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