Global Industrial Machine Vision Camera Market Report to 2028: Surge in Adoption of Artificial Intelligence, Industrial Robots and Industry 4.0 Drives Growth
DUBLIN, March 24, 2023 /PRNewswire/ -- The "Global Industrial Machine Vision Camera Market: Analysis By Type (Area Scan, Line Scan), By End User (Manufacturing, Automotive, Healthcare And Others), By Region Size And Trends With Impact Of COVID-19 And Forecast Up To 2028" report has been added to ResearchAndMarkets.com's offering.
The global industrial machine vision camera market in 2022 was valued at US$2.84 billion. The market value is anticipated to grow to US$4.26 billion by 2028.
Industrial machine vision cameras are specialized cameras designed for use in industrial automation and quality control applications. These cameras are typically used in manufacturing plants, warehouses, and other industrial settings to capture images of products, components, and other objects.
The market value is expected to grow at a CAGR of 7.05% during the forecast period of 2023-2028. Inspection is the key driver to machine vision camera adoption, given the labor-saving opportunity with 35 million product inspectors worldwide. Inspection can include search for defects, contaminants, functional flaws, and other irregularities in the manufacturing process.
- Growth Drivers: One of the most important factors impacting the global industrial machine vision camera market is the surge in adoption of industrial robots. Industrial robots can perform repetitive and dangerous tasks with high accuracy and speed, which helps to improve the overall efficiency and productivity of industrial processes. By using machine vision cameras, industrial robots can "see" and accurately identify objects, which is essential for performing tasks such as pick-and-place, sorting, and assembly. Furthermore, the market has been growing over the past few years, due to factors such as growing adoption of artificial intelligence, growing adoption of industry 4.0, use of 3D machine vision, increasing adoption of industrial machine vision cameras in various industries and many other factors.
- Challenges: However, the market has been confronted with some challenges specifically, high cost of industrial machine vision camera and difficulty in maintenance of industrial machine vision camera, etc.
- Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as growth in edge computing, embedded machine vision, high resolution industrial machine vision cameras, availability of varied industrial machine vision cameras lenses and customization, etc. Embedded machine vision is becoming increasingly popular in the industrial machine vision camera market as it offers a compact ad cost-effective solution for many industrial applications. Embedded machine vision cameras are designed to be integrated into other devices or systems, such as drones, mobile robots, and wearable devices, making them more versatile and flexible. Furthermore, Edge computing is gaining traction in the industrial machine vision camera market as it offers several benefits over traditional cloud-based solutions.
Impact Analysis of COVID-19 and Way Forward:
The COVID-19 pandemic has had a significant impact on the global industrial machine vision camera market. The pandemic has disrupted the global supply chain and led to the closure of manufacturing plants and factories, which has affected the demand for machine vision cameras.
The pandemic has led to a decrease in demand for industrial machine vision cameras as companies have cut back on capital expenditures due to economic uncertainty. Many companies have postponed or canceled projects that would have required machine vision cameras.
Global industrial machine vision camera market is concentrated market with top 3 players - Keyence, Teledyne Technologies Incorporated and Cognex hold around 47% of market share. Furthermore, top 5 companies, incorporating TKH and Basler account for more than 60% of the market.
Technological advancements in the market are also bringing sustainable competitive advantage to companies, and the market is witnessing multiple partnerships and mergers.
The key players in the global industrial machine vision camera market are:
- Keyence Corporation
- Teledyne Technologies Incorporated
- Cognex Corporation
- TKH Group
- Basler AG
- IDS Imaging Development Systems GmbH
- Toshiba Corporation
- Omron Corporation
- Baumer Holding AG
- Sony Corporation
- Jai A/S
Key Topics Covered:
1. Executive Summary
3. Global Market Analysis
3.1 Global Industrial Machine Vision Camera Market: An Analysis
3.1.1 Global Industrial Machine Vision Camera Market: An Overview
3.1.2 Global Industrial Machine Vision Camera Market by Value
3.1.3 Global Industrial Machine Vision Camera Market by Type (Area Scan and Line Scan)
3.1.4 Global Industrial Machine Vision Camera Market by End User (Manufacturing, Automotive, Healthcare and Others)
3.1.5 Global Industrial Machine Vision Camera Market by Region (North America, Europe, Asia Pacific and Rest of the World)
3.2 Global Industrial Machine Vision Camera Market: Type Analysis
3.2.1 Global Industrial Machine Vision Camera Market by Type: An Overview
3.2.2 Global Area Scan Industrial Machine Vision Camera Market by Value
3.2.3 Global Line Scan Industrial Machine Vision Camera Market by Value
3.3 Global Industrial Machine Vision Camera Market: End User Analysis
3.3.1 Global Industrial Machine Vision Camera Market By End User: An Overview
3.3.2 Global Manufacturing Industrial Machine Vision Camera Market By Value
3.3.3 Global Automotive Industrial Machine Vision Camera Market By Value
3.3.4 Global Healthcare Industrial Machine Vision Camera Market By Value
3.3.5 Global Other Industrial Machine Vision Camera Market By Value
4. Regional Market Analysis
5. Impact of COVID-19
5.1 Impact of COVID-19
5.1.1 Impact of COVID-19 on Industrial Machine Vision Camera Market
5.1.2 Post-COVID-19 Scenario of Industrial Machine Vision Camera Market
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Growing Adoption of Artificial Intelligence
6.1.2 Surge in Adoption of Industrial Robots
6.1.3 Growing Adoption Of Industry 4.0
6.1.4 Use of 3D Machine Vision
6.1.5 Increasing Adoption Of Industrial Machine Vision Cameras In Various Industries
6.2.1 High Cost Of Industrial Machine Vision Camera
6.2.2 Difficulty in Maintenance of Industrial Machine Vision Camera
6.3 Market Trends
6.3.1 Growth in Edge Computing
6.3.2 Embedded Machine Vision
6.3.3 High Resolution Industrial Machine Vision Cameras
6.3.4 Availability Of Varied Industrial Machine Vision Cameras Lenses
7. Competitive Landscape
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/bjn3h6
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