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.
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:
Key Topics Covered:
1. Executive Summary
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