The machine vision software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Machine Vision Software Market, 2024 report by The Business Research Company
offers comprehensive insights into the current state of the market and
highlights future growth opportunities.
Market Size -
The machine vision software market size has grown rapidly in recent years. It
will grow from $1.47 billion in 2023 to $1.76 billion in 2024 at a compound
annual growth rate (CAGR) of 19.9%. The growth in the historic period can be
attributed to rising demand for quality inspection in manufacturing, growing
popularity of machine vision in different verticals, extensive advantages in
several applications, inventory management and customer analytics in e-commerce
and retail, sluggish market growth due to the pandemic.
The machine vision software market size is expected to see rapid growth in the
next few years. It will grow to $3.56 billion in 2028 at a compound annual
growth rate (CAGR) of 19.2%. The growth in the forecast period can be
attributed to increasing adoption of automation in manufacturing, increasing
demand for quality inspection, enhancement of product quality, automating
challenging or tedious visual inspection tasks, increasing adoption of industry
4.0 technologies. Major trends in the forecast period include technological
advancements, integration of machine vision in robotics for industrial
automation, adoption of industry 4.0 technologies in manufacturing, strategic
partnership and collaboration with new entrants, expansion of machine vision
applications.
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Scope Of Machine Vision Software Market
The Business Research Company's reports encompass a wide range of information,
including:
1. Market Size (Historic and Forecast): Analysis of the market's historical
performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market
landscape.
4. Key Segments: Breakdown of the market into its primary segments and their
respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and
geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting
the market.
Machine Vision Software Market Overview
Market Drivers -
The increasing demand for quality inspection is expected to propel the growth
of the machine vision software market going forward. Quality inspection
involves the systematic examination and assessment of products or processes to
meet predefined standards and specifications, guaranteeing consistency,
reliability, and compliance with regulatory requirements. Machine vision
software enhances quality inspection by providing automated and precise
analysis of products or processes through image processing and pattern
recognition algorithms, enabling faster and more accurate detection of defects
or deviations. This facilitates improved quality control measures, reducing
errors and ensuring higher product quality standards across industries. For instance,
in October 2021, according to the International Federation of Robotics, a
Germany-based professional non-profit organization, the global sales value of
industrial robots increased by 17% from the previous year, with a significant
portion dedicated to quality control applications, indicating a growing
reliance on automation and machine vision technologies for inspection tasks.
Therefore, the increasing demand for quality inspection is driving the growth
of the machine vision software market.
Market Trends -
Major companies operating in the machine vision software market focus on
innovative technologies, such as fixed-mount barcode reader technology.
Fixed-mount barcode reader technology refers to scanning devices permanently
mounted in a fixed location, such as a conveyor belt or a checkout counter. For
instance, in February 2022, Cognex Corporation, a US-based manufacturer of
machine vision systems, software, and sensors, launched DataMan 280 Series
Fixed-Mount Barcode, designed to handle a wide variety of ID applications, such
as challenging 1D, 2D, and Direct Part Mark (DPM) code applications in the
logistics and industrial sectors. The DataMan 280 has dynamic image generation
technology and a high-resolution sensor to enhance code processing and
coverage. This technology increases throughput and overall equipment
effectiveness (OEE) while enabling users to read complicated barcodes
accurately. It also provides connectivity choices for today's Industry 4.0
manufacturing needs. DataMan 280 is perfect for presentation scanning, bottle
and package reading, pallet scanning, and reading codes on parts of automobiles
and medical devices. Combined with Cognex Edge Intelligence (EI), it offers
cutting-edge Industry 4.0 capabilities like simple web browser connectivity,
device management, and performance tracking.
The machine vision software market covered in this report is segmented –
1) By Technology: Personal Computer-Based Machine Vision, Smart Camera-Based
Machine Vision, Embedded Machine Vision
2) By Application: Quality Control And Inspection, Robotics And Automation,
Packaging And Labeling, Surface Inspection, Security And Surveillance, Other
Applications
3) By End Use: Manufacturing, Automotive, Electronics And Semiconductor,
Healthcare, Transportation And Logistics, Retail And Consumer Electronics,
Banking And Finance, Other End Users
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Regional Insights -
North America was the largest region in the machine vision software market in
2023. Asia-Pacific is expected to be the fastest-growing region in the forecast
period. The regions covered in the machine vision software market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East, Africa.
Key Companies -
Major companies operating in the machine vision software market are Alphabet
Inc. , Microsoft Inc., Intel Corporation, Texas Instruments Incorporated, Atlas
Copco AB, Keyence Corporation, Omron Microscan Systems Inc., Teledyne
Technologies, Zebra Technologies Corporation, FLIR Systems Inc., TKH Group,
National Instrument Corporation, Cognex Corporation, Datalogic S.p.A., Baumer
Holding AG, Basler AG, Key Technology Inc., Sick AG, Vitronic GmbH, Isra Vision
AG, Stemmer Imaging AG, Matrox Imaging, Allied Vision Technologies GmbH,
Qualitas Technologies Pvt. Ltd., MVTec Software GmbH
Table of Contents
1. Executive Summary
2. Machine Vision Software Market Report Structure
3. Machine Vision Software Market Trends And Strategies
4. Machine Vision Software Market – Macro Economic Scenario
5. Machine Vision Software Market Size And Growth
…..
27. Machine Vision Software Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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