Machine vision is a type of technology used to help computers in visualizing the work environment. This technology is utilized to automatically inspect images captured by it, after which they are analyzed. It helps in process control, automatic inspection, and robot guidance in a particular industry. It uses smart cameras and image processing devices in place of manual measurements and inspections. These smart cameras run independently and operate without using computers. The growing adoption of machine vision systems within non-industrial and industrial sectors is predicted to raise the growth of the market for machine vision in the coming years. Machine visions systems are used in a number of areas such as electronics, semiconductors, the food and beverage industry, packaging, automobiles, textiles, banking, security and surveillance, and traffic controlling, among others.
The key driver for the global machine vision technology market is the expanding manufacturing sector. The largest use of machine vision technology is made in the manufacturing sector, where it is required to examine resistors, microchips, capacitors, lead frames, and other such components.Other application areas of machine vision technology include the automotive industry, where it is used to examine control systems related to painted surfaces, engine irregularities, welding QC, and industrial robot functionality.
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Manufacturing is rapidly moving towards process automation, thereby propelling the global machine vision technology market as an integral part of automation. As the level of automation increases, the accuracy and complexity of measurements also increases in accordance to it. Thus, the global machine vision technology market is experiencing heightened demand for extremely accurate instruments.PC-based machine vision technology dominated the global machine vision technology market in terms of product type. This segment leads the market due to the growing demand for highly advanced inspection methods in multiple industries. It was followed by the embedded and smart camera-based machines segment.
The global machine vision technology market according to application categorizes into industrial and non-industrial applications. The market was dominated by industrial applications, which is further divided into automobiles, packaging, textiles, electronics, semiconductors, and others, among which the semiconductors sub-segment led the global machine vision technology market in 2014, when it held 22.1% of the market.The non-industrial application segments of the global machine vision technology market include medical imaging, lab automation, traffic controlling, banking, security and surveillance, and others. The segment of others held the top market share of 24.4% in the global machine vision technology market for 2014.
The global machine vision technology market is exhibiting a CAGR of 8.40% between 2015 and 2021. Should this growth rate be consistent, the market can be expected to reach US$28.5 bn by 2021, after being recorded at US$15.7 bn in 2014. This data is provided by a research report released by Transparency Market Research, titled “Machine Vision Technology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021”.
Browse the full Machine Vision Technology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021 report at http://www.transparencymarketresearch.com/machine-vision-technologies.html
The global machine vision technologies market is segmented as follows:
Machine Vision Technology Market: By Product Type
PC based machine vision technology
Embedded machine vision technology
Smart cameras based machine vision technology
Machine Vision Technology Market: By Application
Machine Vision Technology Market: By Geography
Rest of the World
Key players profiled in the report include Basler AG, Cognex Corporation, Adept Technology, Keyence Corporation, Microscan Systems inc., OMRON Corporation, ISRA Vision AG, and Seeing Machines Ltd.