The global machine vision market size was valued at USD 9.95 billion in 2017. Increasing demand for quality inspection and automation in different industrial verticals is estimated to drive the market. Soaring need for vision-guided robotic systems across the pharmaceutical & chemical, food & beverage, automotive, and packaging industries is expected to augment the market. Surging demand for application-oriented machine vision systems is also boosting the adoption of the technology over the forecast period.
MV systems involve ability of a computer to observe, inspect, and scrutinize the work performance by employing one or more video cameras, digital signal processing, and analog to digital conversion. Captured data is then transferred to computer to analyze and provide desired output. Sensitivity and resolution are two important aspects of any MV system. Resolution is responsible for differentiating between objects whereas sensitivity is the machine’s ability to detect objects or weak impulses despite dim lights or invisible wavelengths.
These systems particularly assist in supervising work environments. It offers features such as robotic guidance, automatic inspection, and process control in industrial applications. Industrial production and manufacturing activities are becoming increasingly complicated day-by-day. They are creating difficulties and increasing unreliability for human eye to keenly detect, observe, and examine production activities.
The technology is witnessing high adoption in industrial operations and is rapidly replacing manual measurements and inspection, due to increasing necessity for efficient and reliable inspection and measurements. Machine vision systems deploy smart cameras and image processing to perform measurements and inspections.
Rising need for superior inspection and growing automation are translating into greater adoption of machine vision technology. Furthermore, need for increased quality control by consumers and manufacturers coupled with strict government regulations is likely to stoke the growth of the market.
The technology is slated to gain considerable momentum in the food & packaging, automotive, and pharmaceutical verticals over the coming years owing to its abilities such as improved detection of objects, enhanced analysis, monitoring tolerance, and accurate component measuring. On the other hand, lack of efficient system operators due to inadequate training can slow down the adoption rate of machine vision technology.
On the basis of offerings, the market has been bifurcated into hardware and software. Hardware accounted for a larger share in the market in 2017. It is also poised to register the highest CAGR during the forecast period.
Hardware components comprise several objects such as cameras, sensors, processors, frame grabbers, LED lightings, and optics. Among these, cameras held the largest share in 2017, which can be attributed to increasing demand for CMOS imaging sensors.
The market for software is application specific and fragmented based on necessity of applications. The software segment is projected to experience steady growth over the same period on account of training and deep learning of the technology.
PC based systems were the most prominent product segment in the market in 2017. The segment is anticipated to maintain its position in the global market throughout the forecast horizon. However, smart camera based systems are estimated to exhibit lucrative CAGR of 8.0% over the forecast period. The growth of the segment is attributable to growing adoption of cameras in 3D imaging.
Machine vision systems, also called vision systems, consist of numerous cameras. At times, depending upon requirements, these cameras are mounted over the assembly lines so as to observe and examine products and capture data. This is leading to greater adoption of smart cameras in these systems.
Cameras are also capable of reading labels and directing products automatically without any human involvement. Minimized human intervention leads to decreased errors and increased accuracy of inspecting labels and tags. These aspects of smart cameras are influencing the adoption of the technology across various industrial sectors, thereby stimulating the growth of the overall market.
By application, the machine vision market has been segmented into quality assurance & inspection, positioning & guidance, measurement, and identification. The technology is extensively used for scanning and identifying labels, barcodes, and texts, especially in the packaging sector. This automates packaging activities, thereby saving time, avoiding human errors, and increasing efficiency.
The technology is frequently used in consumer goods, pharmaceutical, and packaging sectors. Heightened adoption of the technology in these sectors has resulted in reduced counterfeit products to a large extent.
Identification using machine imaging is also used in camera surveillance, monitoring traffic, or recognizing number plates for security purposes. The identification segment is expected to post a CAGR of 8.7% during the forecast period owing to several advantages and opportunities offered by the technology worldwide. The quality assurance and inspection segment held the largest share in 2017. It is likely to register a noteworthy CAGR during the same period, thereby maintaining a hold on the market by generating the largest revenue.
On the basis of end-use industries, the market has been categorized into automotive, pharmaceuticals & chemicals, electronics & semiconductor, pulp & paper, printing & labeling, food & beverage (packaging and bottling), glass & metal, postal & logistics, and others. The automotive industry is the leading end-use segment of machine vision systems worldwide. The segment is projected to experience steady growth during the forecast period.
Machine vision in the automotive industry is extensively used for inspection purposes, which include presence/absence checking, error proofing, assembly verification, and final inspection. Besides, MV systems are also used for dimensional gauging, robotic guidance, and testing automation purposes, which comes under measure, gauge, and guide applications.
The food & beverage industry is poised to exhibit the highest CAGR during the forecast period. MV systems in the food & beverage industry are prominently used in packaging and bottling operations. The pharmaceuticals & chemicals, printing & labeling, and other industry verticals, which include agriculture, rubber & plastic processing, solar panelling, machinery & equipment, and security & surveillance, are also anticipated to progress at a significant CAGR during the same period.
Asia Pacific accounted for the largest share in the global arena in 2017. The region is estimated to rise at the highest CAGR of 9.6% during the forecast period. The growth of the region can be attributed to lucrative opportunities in automotive, packaging, pharmaceutical, and other industrial applications in Asia Pacific.
As the region is emerging as the global manufacturing hub, the technology is expected to experience widespread adoption in the region during the forecast period. China and Japan are prominent countries having potential to offer extensive opportunities to emerging as well as matured technologies such as machine vision. Numerous manufacturing industries are contributing to the growth and prosperity of the region’s overall economic development.
In addition to this, expenditure and operational benefits coupled with initiatives being undertaken by governments of emerging countries, such as South Korea, India, Taiwan, and Singapore, are responsible for catapulting investments and encouraging different industry players to establish their production units in APAC.
Prominent companies functioning in the market include Basler AG; Cognex Corporation; Keyence Corporation; Microscan Systems, Inc.; National Instruments Corporation.; and OMRON Corporation. With greater opportunities being offered by both developing and developed nations such as U.S., Germany, U.K., China, Japan, South Korea, India, and Brazil, prominent players are continuously striving for new product developments and venture capital investments to acquire market share.
Furthermore, increasing investments in R&D activities to improve machine vision technology and related developments are opening growth opportunities for the market. Prominent players are undertaking strategic initiatives such as distribution alliances, partnerships, mergers, and acquisitions to consolidate their position in the market.
Base year for estimation
Actual estimates/Historical data
2014 - 2016
2018 - 2025
Revenue in USD Million and CAGR from 2018 to 2025
North America, Europe, Asia Pacific, South America, Middle East & Africa
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, Japan, India, South Korea, Singapore, and Brazil
Revenue forecast, company share, competitive landscape, growth factors, and trends
15% free customization scope (equivalent to 5 analyst working days)
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This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global machine vision market report on the basis of offering, product, application, end-use industry, and region:
Offering Outlook (Revenue, USD Million, 2014 - 2025)
Product Outlook (Revenue, USD Million, 2014 - 2025)
Smart Camera Based
Application Outlook (Revenue, USD Million, 2014 - 2025)
Quality Assurance & Inspection
Positioning & Guidance
End-Use Industry Outlook (Revenue, USD Million, 2014 - 2025)
Pharmaceuticals & Chemicals
Electronics & Semiconductor
Pulp & Paper
Printing & Labeling
Food & Beverage (Packaging and Bottling)
Glass & Metal
Postal & Logistics
Others (Agriculture, Security & Surveillance, Rubber, Plastics, Solar Paneling, Machinery, and Others)
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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