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Machine Vision Market Trends

Report ID: GMI6342
Published Date: Jul 2023
Report Format: PDF

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Machine Vision Market Trends

Advancements in hardware components and sensors, such as high-resolution cameras and advanced lighting techniques, have improved the performance and accuracy of machine vision systems. For example, the Sony IMX990 sensor released in 2022 can detect shortwave infrared (SWIR) light, which allows machine vision systems to see in low light conditions. This apart, the increasing application scope of machine vision systems beyond traditional industrial uses, including agriculture, security and surveillance, healthcare, transportation, and entertainment, will favor the market dynamics through 2032.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of machine vision reached USD 3.9 billion in 2022 and is set to witness 18% CAGR from 2023 to 2032, due to the emergence of Industry 4.0 and rising implementation of smart factory initiatives.

The hardware component segment is expected to record 17% CAGR through 2032, driven by the increasing advancements in sensor technologies.

The embedded technology segment recorded USD 980 million in 2022, attributed to rising need for automation and efficiency in several industries.

Allied Vision Technologies GmbH, Basler AG, Baumer Group, Cognex Corporation, FLIR Systems, Inc., IDS Imaging Development Systems GmbH, Intel Corporation, ISRA VISION AG, Keyence Corporation, and Matrox Electronic Systems Ltd. are some of the key machine vision companies.