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Worldwide Machine Vision Industry to 2025 - Self-optimizing Manufacturing Presents Opportunities

·4-min read

Dublin, Sept. 16, 2021 (GLOBE NEWSWIRE) -- The "Global Machine Vision Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.

The global machine vision market revenue in 2020 is $10.28 billion and is forecast to record a 6.4% CAGR between 2020 and 2025. The market took a major hit in 2020 due to the COVID-19 pandemic, with sales declining 4.6% from 2019. However, the publisher expects that market to register 3.8% growth in 2021. Positive trends in pharmaceuticals, food and beverage processing and packaging, electronics and semiconductors, and automotive will drive the market in 2021 and during the forecast period.

There is a rising demand for industrial automation worldwide to enhance operations and productivity. Manufacturers are also adopting automation post-pandemic to automate their manufacturing units fully. This is to minimize human intervention should another pandemic arise in the future. Post-pandemic changes in eating habits and lifestyle enable the food and beverage manufacturing, processing, and packaging companies to grow. As food safety regulations get stricter worldwide, the food processing and manufacturing industry increasingly depends on machine vision systems for quality control.

Asia-Pacific (APAC) is the biggest region for machine vision, contributing 40.6% of the global revenue in 2020 and expected to record the highest CAGR (10.3%) between 2020 and 2025. North America and Europe are the other two prominent regions with revenue shares of 28.5% and 24.5%, respectively.

Vision systems and industrial cameras are the two most significant product segments with revenue shares of 48.2% and 33.3% in 2020, respectively. These will continue to be the largest product segments during the forecast period. Optics and illumination and frame grabbers are the other two product segments of the machine vision market.

The electronics and semiconductor industry vertical is the biggest revenue contributor, with a 36.9% revenue share in 2020. Automotive is the second-biggest vertical, holding 22.4% of the total global revenue. The automotive vertical registered a sharp decline in 2020 but is forecast to record a 6.2% CAGR between 2020 and 2025.

The machine vision market is highly fragmented and has over 100 market participants, with the top five market participants holding 19.7% of the global market share in 2020. Local manufacturers in APAC increasingly focus on food safety while global manufacturers are starting production in the region to stay close to the market and understand domestic demands. Countries such as Japan, China, South Korea, and India will drive machine vision systems adoption. Operators integrate vision systems into assembly lines for turnkey applications such as empty bottle inspection, label inspection, and barcode verification.

In addition, governments and industry regulatory bodies have strict mandates on industry safety norms to which companies must adhere. For example, the United States is introducing stricter laws and regulations on food processing. Europe is a highly competitive market with the presence of leading end-user companies. Europe is at the forefront of innovation and industrial internet of things (IIoT) adoption as a manufacturing hub.

Research Highlights

  • Market growth duration and rate

  • Regions and product segments that will register rapid growth

  • Industry verticals with high demand and high growth opportunities

  • Emerging market trends

  • Leading vendors and the competitive landscape

Key Topics Covered:

1. Strategic Imperatives

  • Why Is It Increasingly Difficult to Grow?

  • The Strategic Imperative 8

  • The Impact of the Top Three Strategic Imperatives on the Machine Vision Market

  • Growth Opportunities Fuel the Growth Pipeline Engine

2. Growth Opportunity Analysis

  • Scope of Analysis

  • Segmentation

  • Key Competitors

  • Key Growth Metrics

  • Distribution Channels

  • Growth Drivers

  • Growth Restraints

  • Forecast Assumptions

  • Revenue Forecast

  • Revenue Forecast by Product

  • Revenue Forecast by Region

  • Revenue Forecast by Industry Vertical

  • Revenue Forecast Analysis

  • Revenue Forecast Analysis by Region

  • Regional Trends

  • Revenue Forecast Analysis by Industry Vertical

  • Technology Trends

  • Mega Trend 1 - Rising Middle Class

  • Mega Trend 2 - Transition to Industry 5.0

  • Mega Trend 3 - Human-Machine Collaboration

  • Mega Trend 4 - Autonomous World

  • Mega Trend 5 - Autonomous and Flying Cars

  • Pricing Trends and Forecast Analysis

  • Competitive Environment

  • Revenue Share

  • Revenue Share Analysis

3. Growth Opportunity Analysis, Vision Systems

  • Key Growth Metrics

  • Revenue Forecast

  • Revenue Forecast by Region

  • Revenue Forecast by Industry Vertical

  • Revenue Forecast Analysis

4. Growth Opportunity Analysis, Industrial Cameras

  • Key Growth Metrics

  • Revenue Forecast

  • Revenue Forecast by Region

  • Revenue Forecast by Industry Vertical

  • Revenue Forecast Analysis

5. Growth Opportunity Analysis, Frame Grabbers

  • Key Growth Metrics

  • Revenue Forecast

  • Revenue Forecast by Region

  • Revenue Forecast by Industry Vertical

  • Revenue Forecast Analysis

6. Growth Opportunity Analysis, Optics, and Illumination

  • Key Growth Metrics

  • Revenue Forecast

  • Revenue Forecast by Region

  • Revenue Forecast by Industry Vertical

  • Revenue Forecast Analysis

7. Growth Opportunity Universe

  • Growth Opportunity 1 - Self-optimizing Manufacturing

  • Growth Opportunity 2 - Robotics-as-a-Service

  • Growth Opportunity 3 - Deep Learning and AI

8. Next Steps

For more information about this report visit https://www.researchandmarkets.com/r/fsza18

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900


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