- August 05, 2015
- Transparency Market Research
The market was valued at $15.70 billion in 2014, and is expected to reach $28.50 billion by 2021, growing at a CAGR of 8.4% from 2015 to 2021.
According to a new market report published by Transparency Market Research “Machine Vision Technology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021,” the market was valued at USD 15.70 billion in 2014, which is expected to reach USD 28.50 billion by 2021, growing at a CAGR of 8.4% from 2015 to 2021.
Increasing manufacturing sectors is one of the important factors driving the rise in demand of machine vision technology market globally. Machine vision technology is largely used in manufacturing sectors for inspection of microchips, resistors, and components such as lead frames and capacitors. In the automotive industry, these technologies are used in control systems for inspection of painted surfaces, industrial robots, welding quality control, checking engine block. Moreover, shift in demand towards automation is also driving the demand of this market. The measuring and analyzing is done more accurately, precisely, and efficiently by computers as compared to manual systems, thus demand for machine vision technology is expected to increase. Furthermore, the accuracy, of the machine vision helps in boosting quality automation which includes defect detection, quality inspection, component measurement, and tolerance monitoring.
Machine vision technology market is segmented on the basis of product types which includes embedded, PC based and smart cameras based machine vision technology. Among these three types of product, PC based machine vision held the largest market share followed by embedded and smart camera based machine vision technologies in 2014 globally. Growing demand for technologically advanced methods for testing and inspection in various industries has stimulated the demand for PC based machine vision globally.
The machine vision technology market is further segmented on the basis of application which includes industrial and non-industrial application. Among these, industrial application held the largest market share followed by non-industrial applications. The industrial segment is sub divided into semiconductors, electronics, packaging, textiles, automobiles and others. Semiconductors segment held largest market share of 22.1% in 2014. Moreover, non-industrial application covers security and surveillance, banking, traffic controlling, lab automation and medical imaging and the others segment include barcode scanners, biometric systems and others. The others segment held largest market share of 24.4% in 2014 under non-industrial application.
Geographically the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific held the largest market share of machine vision technology in 2014 due to the increasing manufacturing sectors in this region. Moreover, APAC is followed by Europe, North America and Rest of the World in 2014.
Some of the leading players in the market are Cognex Corporation (Massachusetts), Basler AG (Germany), Allied Vision Technologies Inc. (Germany), Adept Technology Inc. (California), Keyence Corporation (Japan), ISRA Vision AG (Germany)., Microscan Systems Inc.(Washington), Electro Scientific Industries Inc. (Oregon), OMRON Corporation (Japan) and Seeing Machines Ltd. (Australia) among others. The report provides estimates in terms of revenue (USD Billion) from 2015 to 2021 by studying the global machine vision technology market.
Browse the full Machine Vision Technology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021 report athttp://www.transparencymarketresearch.com/machine-vision-technologies.html
The market has been segmented as follow:
Global Machine Vision Technology Market: By Product Type
- PC based machine vision technology
- Embedded machine vision technology
- Smart cameras based machine vision technology
Global Machine Vision Technology Market: By Application
- Security and surveillance
- Traffic controlling
- Lab automation and medical imaging
Global Machine Vision Technology Market: By Geography
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
Rest of the World
- Latin America
- Middle East
- Rest of Rest of the World
The report provides a cross-sectional analysis of all the segments with respect to the above mentioned regions.
Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Mr. Atil Chaudhari
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
Website: http://www.transparencymarketresearch.com/Learn More
Did you enjoy this great article?
Check out our free e-newsletters to read more great articles..Subscribe