Machine Vision Systems Market to Reach US$ 17.57 Bn at a CAGR of 7.5% in 2027

Machine Vision Systems Market to 2027 - Global Analysis and Forecasts by Type (Smart Machine Vision Systems, PC-Based Machine Vision Systems, and 3D Machine Vision Systems); Component (Cameras, Frame Grabbers, Processors, Illuminations & Optics, Vision Software, Vision Sensors, and Others); Interface (USB 2.0/USB 3.0, Camera Links, GigE, CoaXPress, Others); and End-User (Automotive, Electronics & Semiconductors, Food & Beverages, Pharmaceuticals, Logistics, and Others)

  • Report Code : TIPTE100000156
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 236
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The machine vision systems market was valued at US$ 9.11 Bn in 2018 and is projected to reach US$ 17.57 Bn by 2027; it is expected to grow at a CAGR of 7.53% from 2019 to 2027.

Machine Vision Systems are the next generation intelligent systems mainly used in industrial applications for detection, identification, measurement, inspection and so on. These systems play major roles in robotics; these are used to guide the autonomous robots also known as ‘self-navigating robots’. Various industries such as automotive, food & beverage, pharmaceuticals are much concerned about reducing labor intensive processes, increasing accuracy and speed; machine vision systems are in demand to overcome these concerns. Machine vision systems can perform complex repetitive tasks with higher accuracy and consistency. Machine vision systems include components such as image sensors, processors, PLC, frame grabbers and more, which are driven by a software package to execute user defined applications. Machine vision systems are also employed in non-inspection applications such as guiding robots, pick and place the parts, dispensing liquids and many more. Machine vision and components market is expected to experience significant growth in the coming years due to the increasing demand in industries such as automation, robotics and non–manufacturing which include intelligent transport system, logistics and medical, exhibiting substantial market growth. Machine vision systems are classified into three types, namely: Smart Vision Systems, PC-Based Vision Systems and 3D Vision Systems. Machine vision systems has set the highest growth record in North America in 2018. Whereas, Europe is the major manufacturer and exporter of these systems worldwide. Manufacturing industry is the largest end-user of these systems however, the growth of machine vision systems in non- industrial niche applications such as logistics, intelligent traffic systems, IP video surveillance, and others is also rising owing to ongoing improvements in the technology resulting in decreasing the costs of these systems.

The North America and Europe in total holds more than half of the overall market share, while the regions such as APAC, MEA, and SAM are exhibiting a high growth rate due to various factors such as increase advancements in technology and rise in the lifestyles of individuals in developed as well as developing countries of the world. Implementations of machine vision systems is expected to accelerate at a high growth rate in the coming few years due to technology, increasing progress of the capabilities of cameras and microprocessors, automotive and other industry verticals’ inclination towards implementing such solutions which can provide better efficiency, easy capacity expansion and optimized CAPEX. Many small and large organizations and enterprises in the above verticals have implemented machine vision systems solutions owing to the various advantages it offers, thus influencing the market revenues and growth rates globally. The growing industrialization, fast population growth and positive economic outlook of developing regions are some of the major factor that are anticipate to drive the growth of machine vision systems market in these regions. Developing countries such as China and India are expected to offer ample growth opportunities for the machine vision systems market players during the forecast period. Due to positive initiatives of policymakers and regulators in various developing countries to support manufacturing and promote industrial growth. The recent strategic initiatives such as “Made in China 2025 Initiative,” by China and “Make in India” by India are examples of such initiatives that are focused on boosting manufacturing sector and industrialization in these countries. The machine vision systems market has experienced high growth and implementations in the last few years and is also expected to experience a significant growth in years to come. One of the major reason for higher implementations of machine vision systems by various industry verticals is, the advancements in several related technologies taking place around the machine vision systems. Computer interfaces, the microprocessors and cameras, all these tools have evolved into highly capable and flexible tools/ components. The advances in technology have thus facilitated mass production and custom manufacturing of suppliers. Machine vision systems also provides end users with improved productivity and quality in the manufacturing process which also helps in achieving higher productivity along with increased profit margins.

Lucrative Regions for Machine Vision Systems Market

Lucrative Regions for Machine Vision Systems Market
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Market Insights

Government initiatives worldwide to support the growth of manufacturing sector

For a sustainable economic development, countries are increasingly focusing on boosting industrialization, especially in the manufacturing and process industries. Governments of various countries, especially India and China, are taking initiatives through regulations, innovation promotion, and knowledge brokerage to achieve inclusive and sustainable industrialization. The rapidly changing technology landscape in the manufacturing and process industries worldwide has also been encouraging the manufacturing companies to invest in advanced systems and processes, which can help achieve high operational efficiencies and also enable companies to meet challenging demands of today’s customers. The present century is characterized by tough competition in all major industry verticals. The manufacturers of various systems are facing tough competition on parameters such as costs, quality, technology, service, and time-to-market. Thus, to maintain market position and to achieve sustainable development, manufacturers are increasingly investing in advanced systems.

Type-Based Market Insights

On the basis of type, the global machine vision systems market is bifurcated into smart machine vision systems, PC-based vision systems and 3D machine vision systems. Machine vision systems are amalgamation of computer vision into industrial manufacturing processes. Machine vision make use of industrial image processing by using cameras which are placed over production lines and cells with the intention to visually examine, inspect products and control robots in real time without human intervention. Machine vision is also known as industrial vision and comprises of several cameras for capturing, interpreting and motioning individually with a control system connected to some pre-determined standards.

Component -Based Market Insights

On the basis of component, the global machine vision systems market is segmented into cameras, frame grabbers, processors, illuminations & optics, vision software, and others. A machine vision system works tirelessly performing 100%, resulting in improved product quality, increasing yields and reducing production cost. A machine vision system involves many critical components such as sensor (camera), processor, lens, lightings, and frame grabbers. Every machine vision system is reliable on these critical components for better results. The form of components varies with different types of machine vision systems. For example, PC-Based vision systems would require these components discretely; whereas, a smart camera vision system will have these components integrated in one module. Machine vision components play a vital role in every industry wherein machine vision systems are deployed.

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Machine Vision Systems Market: Strategic Insights

Market Size Value inUS$ 9.11 Billion in 2018
Market Size Value byUS$ 17.57 Billion by 2027
Growth rateCAGR of 7.53% from 2019-2027
Forecast Period2019-2027
Base Year2019
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Product development is the commonly adopted strategy by companies to expand their product portfolio. Basler AG, IDS Imaging Development Systems GmbH, Omron Microscan Systems, Inc., COGNEX CORPORATION, Keyence Corporation, Teledyne Technologies Incorporated, Datalogic S.p.A, FLIR Systems, Inc., ISRA VISION AG, and OmniVision Technologies, Inc., among others are the key players implementing strategies to enlarge the customer base and gain significant share in the global Machine Vision Systems market, which in turn permits them to maintain their brand name. A few of the recent key developments are:

  • In 2018, Datalogic opened new office at Las Colinas, in the Dallas area. This office is aimed at serving as a business development hub for the North America Market. The new team is responsible for generating new leads based on interest, converting those into sales opportunities. In addition, Application engineers support the sales team in demo activities on specific products across all verticals in which Datalogic operates, to present advanced Datalogic solutions to prospective customers.
  • In 2019, Cognex Acquired SUALAB in order to advance its leadership in deep learning-based machine vision. The acquisition of SUALAB’s intellectual property and engineering team is anticipated to enhance Cognex’s existing deep learning competences based on technology that was acquired from ViDi Systems in April 2017.

Machine Vision Systems Market Segmentation:

By Type

  • Smart Machine Vision Systems
  • PC-Based Machine Vision Systems
  • 3D Machine Vision Systems

By Components

  • Cameras
  • Frame Grabbers
  • Processors
  • Illuminations & Optics
  • Vision Software
  • Vision Sensors
  • Others

By Interface

  • USB 2.0/USB 3.0
  • Camera Links
  • GigE
  • CoaXPress
  • Others

By End Users

  • Automotive
  • Electronics & Semiconductor
  • Food & Beverages
  • Pharmaceuticals
  • Logistics
  • Others

Company Profiles

  • Basler AG
  • IDS Imaging Development Systems GmbH
  • Omron Microscan Systems, Inc.
  • Keyence Corporation
  • Teledyne Technologies Incorporated
  • Datalogic S.p.A
  • FLIR Systems, Inc.
  • OmniVision Technologies, Inc.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type ; Component ; Interface ; and End-User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

Frequently Asked Questions

What are reasons behind European Machine Vision Systems industry growth?

The growth of the machine vision systems market in Europe is primarily attributed to the presence of highly developed economies and a strong automotive sector in this region. The European region is one of the world’s largest producers of motor vehicles and the automotive sector is also one of the largest private sector in terms of R&D investments. Being the hub for major automotive companies, machine vision systems are extensively used in this region. Germany is the major contributor to the growth of machine vision systems in the European region.

What are market opportunities for Machine Vision Systems?

Increasing adoption of Industrial Internet of Things (IIoT) for factory automation by various industries such as automotive, electronics & semiconductor, food & beverages, logistics, and pharmaceuticals is anticipated to provide ample growth opportunities for the growth of machine vision systems market during the forecast period of 2019 to 2027.

Which system type is most commonly used for Machine Vision?

Presently, PC-based vision systems are the most widely used systems in the global machine vision systems market due to their high processing power and their ability to handle complex operations. In a multi-camera setup, the PC-based vision systems offer greater customizability, flexibility, and versatility in operations at a competitive price. Hence, PC-based vision systems are anticipated to drive the market growth of machine vision systems, especially in the complex and demanding applications.

The List of Companies


  1. Basler AG
  2. Cognex Corporation
  3. Datalogic S.p.A
  4. FLIR Systems, Inc.
  5. IDS Imaging Development Systems GmbH
  7. Keyence Corporation
  8. OmniVision Technologies, Inc.
  9. Omron Microscan Systems, Inc.
  10. Teledyne Technologies Incorporated

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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