The global machine vision market is projected to reach USD 12.7 billion in 2024 and grow at a compound annual growth rate (CAGR) of 7.4% through 2030, potentially achieving USD 19.5 billion by the end of the forecast period. This growth is driven by the rising demand for automation across various sectors, the need for consistent product quality, and the growing adoption of these technologies across industries. Key factors include the push for higher manufacturing efficiency, product miniaturization, and enhanced quality control.

The development of 3D imaging technology is playing a critical role, enabling vision-guided robotic solutions in diverse applications. Integrated solutions combining 3D imaging, advanced software, and robotics are increasingly common, streamlining deployment for precise object handling in industries requiring accuracy.

Industries with rapid expansion are prioritizing technology upgrades, with the Industrial Internet of Things (IIoT) at the forefront of the Fourth Industrial Revolution. Machine vision is central to manufacturing automation, where it aids in defect identification, compliance with Industry 4.0 standards, and overall factory efficiency. IoT further enhances productivity, quality, and operational cost efficiency, promoting the adoption of cyber-physical systems (CPS).

Get the sample copy of this report: https://www.psmarketresearch.com/market-analysis/machine-vision-systems-and-components-market/report-sample

Key Market Insights

  • PC-based machine vision systems will dominate with a 70% market share in 2024, favored for their compatibility with image acquisition hardware and user-friendly software. These systems offer cost advantages over smart cameras, especially for applications requiring multiple cameras.
  • PC-based solutions support various applications, including general inspection and 3D imaging using time-of-flight lasers, which standard cameras cannot perform.
  • Smart-camera systems, popular in automotive and manufacturing, are expected to grow at a CAGR of 7.7%.
  • Robotic cells are set to achieve a CAGR of 7.8%, supported by advancements in machine vision, AI, and line scanning technology.
  • General machine vision systems, holding 75% of the market in 2024, benefit from improvements in hardware and software.
  • Hardware components like sensors and cameras represent a significant 65% market share.
  • Software for machine vision, with a CAGR of 7.6%, is the fastest-growing segment, driven by the need for complex inspection automation and higher production efficiency.
  • Automotive, food and beverage, and other major industries are leading market adopters, with specific use cases like quality assurance in food processing and autonomous vehicle manufacturing.
  • The Asia-Pacific region is the fastest-growing market, with China leading in revenue, while North America and Europe maintain substantial shares due to their advanced industries.

About P&S Intelligence

P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.

Contact:
Chandra Mohan
AVP – Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow Us: LinkedIn Twitter